Session 5: Practice Activities
Time to Practice!
Here are 6 activities to reinforce what you learned. Try them all!
Difficulty levels: Easy Medium Challenge
1 Bank Account Comparison Easy Research
Research two different types of bank accounts (checking vs. savings). Make a simple comparison chart showing: purpose, access to money, fees, and any benefits.
2 Interest Calculator Easy Activity
If you deposit $100 in a savings account that pays 5% per year, how much will you have after 1 year? After 2 years? After 3 years? Show your math.
3 Conventional vs. Islamic Side-by-Side Medium Activity
Compare buying a $500 laptop through: (1) A conventional bank loan at 10% interest, and (2) A murabaha arrangement where the bank buys it and sells it to you for $550 in installments. Calculate the total cost of each. What is different about how they work?
4 Credit Union Research Medium Research
Find a credit union in your area. Answer: Who can join? What services do they offer? How are their fees different from a big bank? Would you recommend joining? Why or why not?
5 Riba Reflection Medium Writing
Write a short paragraph explaining why Islam prohibits Riba. Use your own words and include at least two reasons. Then write one sentence about what you think is the fairest way to borrow money.
6 Parent Banking Interview Challenge Discussion
Interview a parent or guardian: Do they use a bank or credit union? What kind of accounts do they have? Have they ever paid interest on a loan? What do they wish they knew about banking when they were your age? Write up your findings.