Students will design the front of a customized $7 bill to highlight the fact that money invested in stocks should double every 7 years. Students should begin by using the money template provided. Students may design their bill on paper or electronically. Submissions must include the number 7 to be eligible for prizes. In addition, students must write a response to the writing prompt below in 100 words or less. 1st, 2nd, 3rd and People's choice prizes will be awarded for each grade level, K-2, 3-5, 6-8, 9-12. Submissions should consist of a photograph or scan of the money design and a response to the writing prompt. Judging will be based on a combination of bill design and response to writing prompt.
Why a $7 bill?
The rule of 70 is a calculation to determine how many years it'll take for your money to double given a specified rate of return. The historical average annual rate of return of the stock market is approximately 10%. This means money you have invested in stocks should double about every 7 years.
3rd grade teachers could have students design their bill using a theme of Michigan industry to incorporate Michigan studies. K-2 teachers could have students draw something they are going to pass up buying in order to invest their money. Secondary teachers could incorporate it into art, economics, financial literacy, business, ELA, or math classes.