Financial Math Semester Exam

Front

What do you do with interest on a Certificate of Deposit (CD)?

Back

You earn interest.

Front

What do you do with interest on a car loan?

Back

You pay interest.

Front

What is a withdrawal in banking terms?

Back

A withdrawal is when you take money out of your account.

Front

What is a positive credit card behavior?

Back

Paying the entire amount on time every month.

Front

What is NOT a positive credit card behavior?

Back

Posting your credit card number on social media.

Front

What is important in establishing good credit?

Back

Making payments on time.

Front

What is a budget?

Back

A plan for using money in a way that meets your wants and needs.

Front

What is the principal in financial terms?

Back

The principal is the original sum of money borrowed or invested.

Front

What does it mean to check your credit card statement monthly?

Back

It means reviewing your transactions for errors and understanding your spending.

Front

What is the term for the total amount of money in your bank account?

Back

Balance.