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How well do you know Financial Literacy? Flashcards | StudBud
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How well do you know Financial Literacy?
How well do you know Financial Literacy?
10 terms
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Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Buying a single company's stock usually provides a safer return than a stock mutual fund
True
False
2
About what persentage of Americans have enough money saved up to retire comfortably and be financially stable?
76.3%
25%
90%
50%
3
Nationally, credit card debt has reached its lowest point ever
True
False
4
On average, a down payment on a home is about what % of the asking price?
0% (You dont need a down payment)
50%
20%
5%
5
Interest rate on your savings account is 1% a year and inflation is 2% a year. After one year the money will be...
About the same value
Less valuable
Gone because the bank got robbed
More valuable
6
40% of Americans don't have enough money saved to be able to afford a $400 emergency expence
True
False
7
If interest rates rise, what will typically happen to bond prices?
Fall
Rise
Stay the same
No relationship
8
Racking up credit card debt is a great way to raise your credit score
False
True
9
Suppose you have $100 in a savings account earning 2 percent interest a year. After five years, how much would you have?
More and $102
Less than $102
1.2 million
Exactly $102
10
A 15 yr. morgage has higher monthly payments than a 30 yr. one, but will have less total intrest to be paid back
False
True