
Loans, savings and interest!
Authored by L Clowsley
Other
7th - 8th Grade
Used 29+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Mr Clowsley has been working hard and budgeting effectively. He has even started to have left over money each month! Mr Clowsley wants to start saving money – but what’s the best way to do this?
Open up a tax-free savings account at a bank
Open up a current account at the bank
Put all the money in a suitcase under the bed
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean by the term "savings"?
Saving money simply means depositing money from your regular income so that the saved amount can be used at the time of urgency or for any other future use.
money paid regularly at a particular rate for the use of money lent, money saved or for delaying the repayment of a debt.
money that has been leant to you that you will pay back.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean by the term "Interest"?
Saving money simply means depositing money from your regular income so that the saved amount can be used at the time of urgency or for any other future use.
money paid regularly at a particular rate for the use of money lent, money saved or for delaying the repayment of a debt.
money that has been leant to you that you will pay back.
money paid regularly at a particular rate for the use of money lent, money saved or for delaying the repayment of a debt.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean by the term "Loan"?
Saving money simply means depositing money from your regular income so that the saved amount can be used at the time of urgency or for any other future use.
The lending of money. The recipient (i.e. the borrower) incurs a debt, and is usually liable to pay interest on that debt until it is repaid,
money that has been leant to you that you will pay back.
money paid regularly at a particular rate for the use of money lent, money saved or for delaying the repayment of a debt.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean by the term "APR"?
American Payment rates
Annual Percentage rate
All pay rate
Annual payment rating
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What are the 2 types of bank accounts?
Transactional account
Savings account
buy now, pay later account
loan account
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
To access your bank account, what must you type in? What should you also not do with this information?
PIN
BIN
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