Interest: Savings & Credit. AKS 64cd

What does this graph tell us about personal finance?

Multiple Choice

What does this graph tell us?

• A savings account earns more money over time.

• You have to pay more money every month to pay back your loan.

Multiple Choice

What does this table tell us?

• Interest increases the amount of money in your savings account.

• Interest decreases the amount of money in your savings account.

Match

Interest?

• Interest is money YOU PAY for borrowing....

• Interest adds a percentage of the amount in your...

• In a savings account, the bank...

loans and credit.

savings and investments.

PAYS YOU interest.

• loans and credit.

• savings and investments.

• PAYS YOU interest.

Multiple Choice

What is the difference between cash and credit?

• Cash is only used to save in a bank, while credit is used to pay for expenses.

• Cash is money you have RIGHT NOW to use, while credit is when you borrow money and pay it back.

Multiple Choice

Why would someone need to use credit?

• When there is not enough cash to pay for an immediate need or want.

• When there is exactly how much money needed to pay for something.

Multiple Choice

When you use a credit card,

what are you really doing?

• You are lending money to a bank or business.

• You are earning interest on the money.

• You are borrowing money from a bank or business.

Multiple Choice

When you borrow money, you are expected to pay the money back plus additional money.

What is that additional money called?

• Inflation

• Interest

• Income

Dropdown

How much interest did this person pay back to the credit card company?

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Select answer

Multiple Choice

Why should you pay a loan back quickly?

• You will owe less interest.

• You will owe more interest.

• You will earn more interest.