F3 CH 3 CONSUMER MATHEMATICS (3.1 SAVING & INVESTMENT)

Front

Which account can be used for business purposes?

Back

Current account

Front

There are some common ways of saving in the bank except: Shares, Saving account, Fixed deposit account, Current account.

Back

Shares

Front

RM 780 is deposited with the interest rate of 2% per annum. How much is the interest earned for 1 year?

Back

RM 15.60

Front

Account can be used as debit card except: Fixed deposit account, Current account, Saving account.

Back

Fixed deposit account

Front

What is the meaning of saving?

Back

The process of saving money through a bank.

Front

What is a current account?

Back

An account used primarily for business transactions, allowing for frequent deposits and withdrawals.

Front

What is a savings account?

Back

An account that earns interest on the money deposited, typically used for personal savings.

Front

What is a fixed deposit account?

Back

An account where money is deposited for a fixed term at a specified interest rate.

Front

What is interest?

Back

The cost of borrowing money or the return on investment for saving money.

Front

How do you calculate simple interest?

Back

Simple Interest = Principal x Rate x Time.