Financial Literacy Flashcards

1

Which discount is the best?

30% off
$10 off
$25 off
10% off

2

What is a rebate?

Interest
An amount that is returned to you after the purchase
Something you owe to another person
A banana split

3

What's the formula for simple interest?

A=P(I+r)t
A=prt
I=P(I+r)t
I=prt

4

What word means: Interest calculated on the principle and all pervious interest earned.

Simple Interest
Liability
Compound interest
Net worth

5

What is the sales tax on this item? (7%)

$10.5
$1.50
$1
$1.05

6

Why can budgets be helpful?

They help you plan how you are going to spend money
They help you work out of debt (if your in debt)
They help you stay out of debt
All of the above

7

Why do people like coupons?

They take money away from your bank account
They make you rich
They make you pay more money
They discount certain items

8

What is an expense?

A tax on goods
A value that represents something you owe
A cookie
How much money you have

9

Which is an asset?

Loan
Credit Card with Debt
Mortgaged House
New Car

10

What does liability mean?

The amount of money owed to someone
Home insurence
How much you are worth
How much money you make

11

How much will you pay (without tax) if you need 4 canvases?

$13
$52
$26
$39

12

What does net worth mean?

How much an rock is worth
How much you are worth
How much candy costs

13

Which is NOT an asset?

House
Debit Card
Mortgaged House
New Car

14

What's the formula for compound interest?

A=P(I+r)t
A=prt
A=P(I+r)
I=prt

15

True or False: An asset is something you owe to someone.

False
Who cares?! I want to go home!
True

Financial Literacy

Questions 15

Financial Literacy

Questions 15