MICHIGAN COUNCIL ON ECONOMIC EDUCATION

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DESIGN MI MONEY FUTURE CONTEST

Competition Information:
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.

Ideas:
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.

WRITING PROMPT

Grades K - 5: If I had $100, I would...

Grades 6 - 12: Describe how you will use your future income as a wealth building tool.


PRIZES FOR EACH GRADE LEVEL

1st Place: $200
2nd Place: $100
3rd Place: $50
People's Choice: $150

Entries Due
May 1, 2020

Voting Runs
May 1, 2020 - May 15, 2020

All winners and a guest will be invited to the MCEE Champions Dinner on May 28, 2020 at the Federal Reserve in Detroit.

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Contact Information:
Michigan Council on Economic Education
41500 Gardenbrook
Novi, MI  48375


derek@michiganecon.org
Office: 248.939.4995


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