Financial Literacy Review

Purpose of a bank is to?

An allowance is usually paid to an adult for working 40 hours a week.

What is the main purpose of a Checking account?

MacKenzie buys a house for 100,000, spends 50,000 to fix it. Sells it for 220,000. What is her profit?

What is the proper formula to get the profit of a business?

Checking account is the best way to save money .

Which of these is a variable expense?

Where do you keep your money if you want quick access to it?

Landon loaned 20 dollars to Ahlaan. Ahlaan will pay back 25 dollars. Who is the borrower?

The Federal Deposit Insurance Corporation protects your money in the bank or credit union.

Profit is the money made after you subtract cost from the revenue.

If you want your money to grow in the long term put it in a ____________ account.

A bond is a savings account where your money is always available to you.

Which of the following is a fixed expense?

What do we call money that we pay extra for a loan?

A mortgage is a loan for a car.

Erick pays 50 for car repairs. What type of cost/expense is this?