stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Literacy Review Flashcards | StudBud
Explore
/
Financial Literacy Review
Financial Literacy Review
18 terms
·
StudBud Administration
·
396 plays
Financial Literacy Review
Flashcards
18 cards
F
Practice quiz
P
Host live
L
Questions
18
Answers
1
Managing your money and other assets in a manner that is in your best interest is called _____.
periodic savings
interest rate
financial irresponsibility
financial responsibility
2
When using a(n) ____________________, money is immediately removed from a linked account.
debit card
cash
credit card
loan
3
What is his cost of credit?
$16952.78
$13905.56
$10472.20
$30472.20
4
How much will Mr. Wilson need to pay each month?
$20000
$3600
$333.33
$507.87
5
If you do not manage your money wisely, you are demonstrating ____________________.
financial responsibility
periodic savings
financial irresponsibility
simple interest
6
What is the total cost she will pay back at the end of 4 yrs if she chose First National Bank?
$11731.99
$244.42
$48254.86
$11698.59
7
When using a(n) _________, a buyer puts off paying for a purchase until a later date.
credit card
check
debit card
cash
8
Which payment method has the purchase amount immediately removed from a linked account?
II, IV, and VII
I, III, IV
II, V, and VII
III and VI
9
The formula for ______________________ is A=p(1+r)
2
.
interest rate
simple interest
interest compounded yearly
interest compounded monthly
10
A(n) _______________ is a percentage of an amount of money that is charged for the money's use.
compound interest
interest rate
simple interest
periodic savings
11
Which option offers Flora the lowest cost of credit?
60 months at 14.25%
72 months at 13.8%
36 months at 15%
12
The formula for ________________ is A=p(1+
r
/
n
)
nt
.
simple interest
interest rate
interest compounded monthly
interest compounded yearly
13
What is the total cost she will pay back at the end of 4 yrs if she chose Union Pacific Bank?
$2208.95
$12155.06
$12208.95
$12833.59
14
At the end of 6 months, how much will he have paid?
$1999.99
$6094.44
$3047.22
15
What can Mr. Wilson do to bring down his cost of credit?
All of the above
Look for a lower interest rate
Pay off his credit card faster
Make higher monthly payments
16
The formula for __________________________ is I=prt.
interest compounded yearly
interest compounded monthly
interest rate
simple interest
17
Money lent to a borrower that must be repaid with interest is called a(n):
loan
credit card
interest rate
periodic savings
18
Which option would represent a financially responsible decision and why?
Union Pacific Bank because she's paying it off faster.
Union Pacific Bank because her cost of credit is lower.
First National Bank because her cost of credit is lower.
First National Bank because she's paying it off faster.
