Financial Literacy

Question 1

If you forget to pay your credit card bill, the credit card company can increase the interest rate

Accepted Answer

True

Question 2

How much are ten tomatoes worth?

Accepted Answer

it depends, thats why bartering was replaced with money

Question 3

Which item has a 0% sales tax in Ontario?

Accepted Answer

Milk

Question 4

Who pays the interest on a loan?

Accepted Answer

Borrower

Question 5

What is a "principal"?

Accepted Answer

The amount borrowed OR lent

Question 6

Choose the best answer: Taxes pay for...

Accepted Answer

parks, hospitals, schools and more

Question 7

Calculator: How much does a $46 item cost with 8% tax?

Accepted Answer

$49.68

Question 8

Calculator: how much interest will you earn if you lend $5000 at 4% for 3 years?

Accepted Answer

$600

Question 9

The same currency can be used in more than one country

Accepted Answer

True

Question 10

If you wanted to multiply C8 with C9 in Google Sheets, you should type:

Accepted Answer

=C8*C9

Question 11

If CA$2 = US$3, then how much will CA$10 =

Accepted Answer

US$ 15

Question 12

Giving a 10% tip would indicate that you were incredibly pleased with the service

Accepted Answer

False

Question 13

Which of the following is NOT a good?

Accepted Answer

dog walker

Question 14

Which of the following would you use to help you plan and save money?

Accepted Answer

budget

Question 15

HST stands for...

Accepted Answer

harmonized sales tax

Questions 15