stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
CBA 10 Financial Literacy Review Flashcards | StudBud
Explore
/
CBA 10 Financial Literacy Review
CBA 10 Financial Literacy Review
10 terms
·
StudBud Administration
·
142 plays
Imported from external platform
Flashcards
10 cards
F
Practice quiz
P
Host live
L
Questions
10
Answers
1
Deposit of $3,000. Account X pays 2.1% simple annual interest. Account Y pays 2.4% interest compound. Time is 5 years
Account Y would earn Monica about $62.70 more interest than Account X.
Account Y would earn Monica about $45.00 more interest than Account X
Account X would earn Monica about $45.00 more interest than Account Y.
Account X would earn Monica about $62.70 more interest than Account Y.
2
Which feature describes a disadvantage of using a credit card?
Late Payment Fees
Cashback Reward
Fraud Protection
3
What is the scale factor to represent the dilation from triangle PQR to triangle P'Q'R'.
6
3
1/6
1/3
4
University is $19,700 for one year. grandparents will pay half cost. Scholarship pays $5000. Pay each month for 1 year?
$820.83
$1,029.17
$612.50
$404.17
5
Which statement explains why the balance in this account has grown?
grown because regular deposits made to account, interest was earned pre. yr
account has grown only because interest was earned on the account.
account has grown only because regular deposits were made to the account.
not enough information to determine why the balance in account has grown
6
$1,287 into a savings account 8 years ago. 4% simple annual interest. Balance in Larry’s account at the end of 8 years?
$1,761.34
$1,700.84
$41,184
$1,698.84
7
A customer borrow $12,000 to buy a car. Which loan option would allow the customer to pay the least amount of interest?
A 4-year loan with a 5.2% annual simple interest rate
A 5-year loan with a 4.2% annual simple interest rate
A 3-year loan with an 8.4% annual simple interest rate
A 6-year loan with a 4.7% annual simple interest rate
8
A loan of $10,000. Loan has an interest rate of 6.25% & term of 3 years. What is the total cost to repay the loan?
$10,000
$993
$10,993
$10,670
9
Decide if which decision is financially irresponsible
Withdrawing retirement funds after retirement
Paying the full balance of a credit card
Spending more money than budgeted
Saving a small portion of each paycheck
10
$5,000.00 in a retirement account that offers 9% interest compounded annually, closest to the interest, end of 5 years?
$2,250.00
$229.09
$2,693.12
$450.00
