Quiz Consumer Math 10% PNG

An account that pays interest on a specific sum of money that a person has deposited for a specific period of time. If withdrawn before that time,the bank imposes a penalty fee.

• Savings Account

• Fixed Deposit Account

• Current Account

• Personal Account

Interest paid periodically and paid on the principal plus interest earned.

• Simple Interest
• Compound Interest
• Hard Interest
• Double Interest

Tags

CCSS.7.RP.A.3

The percentage rate that is used when calculating the interest (money) paid on a savings, money market, or investment account.

• Compound Interest

• Interest rate

• Simple Interest

• Rate of Investment

Tags

CCSS.7.RP.A.3

Act of purchasing assets (shares, bond, property) with expectation that they will increase in value over time.

• Savings

• Credit

• Return of Investment

• Investment

An account you set up at a financial institution where you put aside a funds for future use.

• Current Account

• Fixed Deposit Account

• Personal Fund

• Savings Account

Tags

CCSS.4.NF.A.1

CCSS.5.NF.B.5B

A low risk investment offered by the government that has the most predictable income.

• Company Shares

• Unit Trust

• Real Estate Investment

• Fixed Deposit Programme

If you deposit RM200 into a Savings Account at 1% for 3 years, how much simple interest will you earn ?

• RM1

• RM5

• RM6

• RM35

Tags

CCSS.7.RP.A.3

You have a savings account with an average balance of RM500, which bank has the better deal?

• Bank A with 10% annual interest rate and RM5/month in fees

• Bank B with 2% annual interest rate and no fees

• They are the same

• Neither is a good choice

Tags

CCSS.8.F.A.2

CCSS.HSF.IF.C.9

To successfully open a savings account, which of the following is NOT required?

• 3 months of Salary slip

• Minimum deposit (if applicable)

• A legal form of identficiation

• If under 18, a guardian's signature

If you had a short- term goal which interest would be best typically?

• Simple
• Compound
• Both
• Neither