Unit 1 Financial Literacy Review Game

Front

What does Financial Literacy mean?

Back

It is the knowledge and skills needed to make important and smart financial decisions.

Front

__________ is money earned from sources like work or investments

Back

income

Front

______ is the ability to borrow money with the agreement to pay it back at a later time.

Back

credit

Front

What is money set aside for future use or emergencies called?

Back

Savings

Front

What is the cost of borrowing money or the return earned on savings or investments called?

Back

Interest

Front

What are things you own (house, car, bank account) called?

Back

assets

Front

What is something a person or company owes called?

Back

Liabilities

Front

If you invest $4210.50 in an account that earns 4.75% interest compounded monthly. How much will be in the account after 10 years?

Back

6764.20

Front

Danielle is 50 years old, she has $45,234.51 in a savings account that pays 5% interest compounded weekly. She started the account when she was 28 years old. How much was her initial investment?

Back

15065.22

Front

Which of the following is NOT a short-term financial goal?

• Saving for a vacation
• Buying a new car
• Paying off a mortgage
• Paying off credit card debt

Back

Paying off a mortgage