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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Key concepts for Year 7 & 8 for Financial Literacy
Flashcards
12 cards
F
Practice quiz
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Questions
12
Answers
1
The longer you leave your money in the bank the more interest you will get
True
False
2
Interest is money that is paid when.........
You are spending money
You borrow money
You earn a wage
You rent a house
3
What is the name for the account a person uses daily
Current Account
Short Account
Everyday Account
4
A mortgage is money borrowed to buy .......
A House
A pet
A car
A holiday
5
Earnings are........
The money you make from doing a job
The money that you get from interest
What is left after you have paid tax
6
Profit is a financial gain
False
True
7
Banks make money from lending out money
True
False
8
Salary is what a person gets paid per annum
True
False
9
Being paid per hour is called an hourly rate
True
False
10
Wages are paid ....
Yearly
Weekly
Monthly
Weekly or Monthly
11
What is the word for owing money
Credit
Debt
Debit
12
Putting money into an account is called making a
Credit
Deposit
Withdrawl
Profit
