Japan May Launch New "Compound Interest" Savings Bonds
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Japan may create new savings bonds for ordinary people.
The government wants people to save money for a long time.
A bond is a way to lend money to the government.
The government pays you back later, with extra money called interest.
One new bond may use compound interest.
This means the interest also earns more interest over time.
The new bonds may also last for 20 years.
This is longer than many bonds today.
The Ministry of Finance is the government office that is looking at this plan.
They also want people to buy small amounts.
This means more people can start saving money.
The plan is still only an idea now.
People close to the plan told this news to Reuters.
Reuters is a big news company.
No final decision has been made yet.
Vocabulary15 words
- bond
- a paper that shows you lent money to someone
- interest
- extra money you get for lending money
- compound interest
- interest that also makes more interest
- Ministry of Finance
- the government office for money
- Reuters
- a big news company
- savings
- money you keep for later
- government
- the group of people who run a country
- long-term
- for a long time
- asset
- something valuable you own
- purchase
- to buy something
- unit
- one small part
- plan
- an idea for what to do
- decision
- a choice someone makes
- ordinary people
- normal people, not special groups
- encourage
- to help someone want to do something
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Quiz
Answer key
1. A compound-interest bond 2. 20 years 3. Reuters
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Japan may create new _____ bonds for ordinary people.
The government wants people to save money for a long _____.
A bond is a way to lend money to the _____.
The government pays you back later, with extra money called _____.
One new bond may use compound _____.
This means the interest also earns more interest over _____.
The new bonds may also last for 20 _____.
The Ministry of _____ is looking at this plan.
They also want people to buy small _____.
People close to the plan told this news to _____.
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