Top story

Oil is above $100 a barrel.

Attacks on ships in the Strait of Hormuz are squeezing supply. Gas averages about $4.30 a gallon.

Scoreboard

Your money

Higher yields are good for savers and bad for borrowers.

The 10-year Treasury yield is 5.14%. Home loans cost more, and safe savings pay more.

Pop quiz

At 5% interest a year, about how long does it take $1,000 to double?

1. AAbout 7 years
2. BAbout 14 years
3. CAbout 20 years
4. DAbout 50 years

B. About 14 years. Use the rule of 72: divide 72 by the interest rate, and 72 ÷ 5 is about 14. Without compounding it would take 20 years. Earning interest on your interest gets you there about six years sooner.

Discuss

Besides filling up a car, what's something your family buys that could get more expensive if oil stays near $100? Why?

Worksheet

Today's worksheet

The story, the money lesson and questions, with an answer key on its own page.

Teachers: optionally get The Dime in your inbox every school day at thedime.news/subscribe. Nothing else needs an account.