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MFP Financial Literacy 1st Session #2 Flashcards | StudBud
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MFP Financial Literacy 1st Session #2
MFP Financial Literacy 1st Session #2
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Flashcards
7 cards
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Practice quiz
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Questions
7
Answers
1
Using a credit card means you’re borrowing money from the bank and paying it back later.
True
False
2
When can debt be good?
No return on investment
High interest rates
Lowers credit score
Investment in your future
3
Which is NOT a type of bank account?
Checking
Loans
Savings
Debt
4
Zara puts $100 into an account that earns
5% interest yearly
, how much money will she have in her account after 1 year?
$10
$5
$105
$0
5
How much would it cost to purchase a 30 second Superbowl ad?
$3 Million
$1 Million
$5 Million
$7 Million
6
What is delayed gratification?
The feeling you get when your video game finally loads
Self-control to wait for something you want
A fancy dessert that takes 3 hours to make
When you get a gift late because the mail was slow
7
If you are given $10, how much is recommended to allocate towards needs?
5
0
10
4
