Economic Story Board

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  • Happy Birthday Rapunzel!
  • Step one: Exchange of $1,000 dollars as a gift.
  • So glad I put my gift into my savings account so I don't loose it.
  • Step two: Put gift of $1,000 into savings account.
  • Step three: Banks take part of the money you put into your savings account and give it to other people to use.
  • We need loans!
  • Step four: People from the Federal reserve calculate and decipher how much is the required reserve ratio (R.R.R.) for banks.
  • We got loans from our bank to help pay off some of our student debt!
  • Step five: Money that is put into bank accounts can then be lent to others.
  • Step six: Banks keep 10% of what people put into their accounts so they can lend it to other customers.
  • Because I put money into my bank account, banks can take some of that money and lend it to others who need it.
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