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Financial Literacy Part 2 Flashcards | StudBud
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Financial Literacy Part 2
Financial Literacy Part 2
8 terms
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Test your knowledge on interest calculations, earnings, and compound interest in this engaging quiz.
Flashcards
8 cards
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Practice quiz
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Questions
8
Answers
1
What is compound interest?
Interest earned on both the principal and previously earned interest
Interest that is paid only on the original amount
Interest that is added to your loan balance
A penalty charged for late payments
2
Which of the following is a good reason to take out a student loan?
To invest in stocks
To buy clothes
To go on vacation
To pay for college tuition
3
How much will you owe in interest?
432
1,632
1,416
216
4
You earn $15/hour at a part-time job and work 12 hours per week. How much do you earn in a month (assume 4 weeks/month)?
$600
$660
$720
$750
5
Your annual Gross Salary is $35,000. Deductions make up 15% of your paycheck. What is your net pay?
$32,500
$29,750
$30,000
$31,250
6
How much did you earn on interest?
12
24
7
What is the total amount?
$1,180.00
$1,200.50
$1,150.00
$1,157.63
8
Juana has $14,000 and wants to put it in a savings account. Which account will earn her the most interest?
4 years with a 3% interest
5 years with a 2.5% interst
