COMMENTS

1) 2) 3) 4)

Graph in (a) is a line graph while graph in (b) is a straight line graph. To compare Alis and Muthus savings, graph in (b) a straight line is preferable. The straight line graph enables us to find the m, gradient. Besides, with the value of m, the values of k and p can be found from the straight line graph. k and p is in the straight line equation. 5) Hence, the straight line graph is best used in competing Alis and Muthus savings.

COMMENTS

As a teenager, we often ignored the importance of saving up money. Saving up money for our future is compulsory for a teenager. We should be more independent and stop relying on our parents and expect them to look after you forever. Therefore, I did some research on different saving plans introduced by different banks and looking for the best plan for a teenager. After weeks of research and collecting data from different banks about their saving plans. I came across 2 banks that are giving out promising returns if you sign up for their saving accounts. The banks are MAYBANK and BANK SIMPANAN NASIONAL I did a simple comparison and it is shown below: Criteria Saving Plans Name Age Requirements Benefits MAYBANK imTeen 12 18 years old -Multi-tiered interest rate. -Passbookless -Convenient ATM access. -Online access -Free personal Accident (PA) coverage. Up to RM50,000 Above RM50,000 Examination PMR (7As) SPM (8As/A+) STPM/A-Levels (5As/4As and MUET Band 6) University Degree (1st Class Honours) 3.00% p.a BANK SIMPANAN NASIONAL (BSN) Kelab Penabung Muda 7 20 years old -Membership Card -Activities (Seminars, Motivational Courses, Camping, Sports Clinic, Science Exploration etc.) -Tutor Online -Free Personal Accident Insurance. Up to RM25,000 1.20% p.a. 1.70% p.a.

Interest Rate Academic Cash Awards

1.45% p.a. Above RM25,000 Cash award None. RM 100 RM 200 RM 300

RM 500

After comparing both saving plans, I made up my mind to sign up for Maybanks imTeen saving plan because it offers higher interest rate that Kelab Penabung Muda. Besides, Maybank offers awards to those who scores well in their academic and BSN doesnt offer any awards. Furthermore, Maybank lets their accounts holder do transaction online and doesnt require a passbook which make things a lot easier and more convenient to their accounts holder. Therefore, Im signing up for Maybanks imTeen saving plan.