SALT LAKE CITY -- With the U.S. bogged down in an economic downturn, high school students are learning how to make the financial system work for them by doing things like opening a savings account and limiting how much credit card interest they pay.

For students at West High School, the economic challenges hit close to home.

"My grandparents have more than one card," said Vai Mafi, 17. "I sure do hope they're paying off all the balances."

Someone who has a $5,000 credit card balance with an interest rate of 13.7 percent and pays only the minimum monthly amount of $58 would take 30 years to pay it off. On top of that, more than $16,000 in interest would be paid on the original debt.

Zions Bank President Scott Anderson and Vice President Rob Brough encouraged high school students to avoid debt and understand how credit scores work.

They presented students with the $5,000 credit card debt scenario. "There are two types of people in the world," Brough said. "Those who earn interest and those who pay it."

He said if someone had paid off the balance on the credit card and invested $58 at a 9 percent rate of return that in 30 years that person would have made more than $100,000.

"That's the magic of compound interest -- and the burden of paying interest charges," Anderson said.

Lucio Salamanca, 17, who uses a debit card, said if he ever uses a credit card, he will try to limit his credit line "so I won't be tempted to charge up more than I can afford to pay off."

Mylien Pham, 16, said she is more worried about the nation's credit crisis.

"I don't know if there'll be student loans when I go to college, or if the interest will be so high that I won't be able to pay it off if I do get a loan in the first place," she said.

In addition to avoiding debt, Anderson told students to make sure they maintain good credit scores because car dealers and apartment managers look at them.

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Information from: The Salt Lake Tribune, http://www.sltrib.com