What is the first step when adding interest payments with a percentage?

Convert the percentage into a decimal.

What is a "loyalty program"?

A way to keep customers coming back to stores by giving them points.

Is having interest towards your account a good thing or a bad thing?

Both! Interest can be good for your accounts but bad for your credit cards.

Which of these things would you NOT consider when making a financial goal?

Whether other people have the same goals as you.

A loan you take out for a home.

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Financial Literacy

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Questions 14

Answers

1
What is the first step when adding interest payments with a percentage?
Divide the percentage by 10.
Convert the percentage into a decimal.
There's steps?
Multiply the percentage by10.
2
What might be a financial goal of a 25 year old?
All of the above.
Saving for retirement.
Saving for the down payment of a new home.
Saving for a new video game.
3
What is a "loyalty program"?
A way to keep customers coming back to stores by giving them points.
A card with preloaded money on it.
A program that rewards kids for being a loyal friend.
An electronic money transfer.
4
Is having interest towards your account a good thing or a bad thing?
What's interest?
Interest is the worst! You do not ever want interest.
Both! Interest can be good for your accounts but bad for your credit cards.
A good thing! We want all the interest.
5
Which of these things would you NOT consider when making a financial goal?
How much things cost.
Who you should talk to about planning goals.
Whether other people have the same goals as you.
Where you can get money.
6
Which payment method involves you having cash already in your account in order to use?
Debit
E-transfer
A cheque
All of the above
7
What does ATM stand for?
At The Moment
Automatic Transaction Machine
The initials to a famous person.
Automatic Teller Machine
8
Why do most people prefer using debit over cash?
Less chance of losing your debit card than cash.
There is less counting with debit than there is with cash.
All of the above.
You may spend less money using debit than you do with cash.
9
Renting a home is better than owning a home.
True
False
10
What is a mortgage?
A loan you take out to buy new skins on Fortnite.
A loan you take out on a car.
A loan you take out for a home.
A loan you take out to pay off a credit card bill.
11
Which of the following words are related to" Financial Literacy"?
Budgeting
Debt
Interest
All of the above.
12
How much tax do we pay for tax and goods in Ontario?
15%
9%
None of the above
13%
13
Which is the best payment to use for small purchases in person?
E-transfer
A credit card
A cheque
Cash
14
Creating a budget is essential to your financial goals?
False
True

Financial Literacy Flashcards | StudBud