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Financial Literacy Review Flashcards | StudBud
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Financial Literacy Review
Financial Literacy Review
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Questions
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1
You borrow $10,000 over 5 years at 3% per year in simple interest. How much interest would you have paid after 5 years?
$ 1 500.00
$150.00
$15 000.00
$150 000.00
2
True or False: Getting your hair cut is considered a good and NOT a service.
False
True
3
True or False: An OSAP loan is an example of Trading.
True
False
4
Which method of payment allows us to see how much money we are spending and not over spend?
E-transfer
Debit Card
Cash
Credit Card
5
A stay at a hotel is considered a service.
False
True
6
Stefany purchases 4 cushions at $49.98. How much did the 4 cushions cost with 13% tax?
$225.91
$259.74
$64.97
$235.90
7
Is a new iPhone considered a good or a service?
Service
Good
8
A bag of chips is an example of a...
A service a want
A good and a want
A good and a need
A service and a need
9
Which method of payment allows us to people to send money to one person's bank account to another.
Debit Card
Credit Card
Cash
E-transfer
10
You borrow $108,500 over 5 years at 12% per year in simple interest. How much would be owed to the bank in total?
$651 000.00
$173 600.00
$6 510 000.00
$108 500.00
11
True or False: Getting your pet groomed is considered a service.
True
False
