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Financial Literacy Grade 6 Flashcards | StudBud
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Financial Literacy Grade 6
Financial Literacy Grade 6
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Flashcards
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Questions
10
Answers
1
A new pair of shoes is considered a "Service"
True
False
2
Getting a promotion with a raise could hinder (or block) my financial goals?
True
False
3
Jordan borrows $60,000 over 10 years at 3% per year. How much money in total will Jordan repay in 10 years?
$22,000
$77,250
$78,000
$18,000
4
Libby gets money from the bank to buy her condo. Her mortgage is for 25 years. This is an example of:
Donating
Investing
Borrowing
Saving
5
If I'm shopping at Garage, should I use my Garage gift card first or my credit card?
Debit Card
Gift Card
None of the above
Credit Card
6
I borrowed $50,000 over 7 years at 2% per year in simple interest. How much interest do I have to pay?
$1,000
$5,000
$7,000
$57,000
7
Ryan agreed to pay back a $100,000 loan in 5 years at 2% per year in interest. How much interest will he pay?
$104,000
$10,000
$2,000
$4,000
8
If I was shopping online, which would be the most appropriate method of payment?
Bit coin
Cash
Cheque
Credit card
9
A new pair of skis is considered a "Goods"
True
False
10
Zion gives Abby $500. They agree she will pay it back in a year. This is an example of:
Borrowing
Donating
Lending
Trading