CHAPTER 3 SAVINGS INVESTMENT, CREDIT AND DEBT (FORM 3 KSSM)

Which of the following are the type of savings? ( 3 answers )

• savings account

• fixed deposit account

• current account

• shares

• unit trust

There are TWO types of interest, which are:

• simple interest

• complex interest

• compound interest

RM 780 is deposited with the interest rate of 2% per annum. How much is the interest earn for 1 year? ( I = Prt )

• RM 10.30

• RM 15.60

• RM 7.80

• RM 780

RM 1000 is deposited with the interest rate of 4% per annum. How much is the interest earn for 3 years? ( I = Prt )

• RM 40

• RM 100

• RM 120

• RM 30

Which of the following show smart management of credit and debt

• Siti spends more that her repayment ability

• Aida uses auto debit method to pay her bills

• Aiman makes budget every month

• Hamid always make late repayment

Which of the following is the weaknesses of the uses of credit card

• Provides interest free repayment service

• Easy to use for cashless payment

• Could be imposed interest and charges

• Easy to overspend

Which of the following is a high risk investment?

• Fixed Deposit

• Real Estate

• Unit Trust

• Share

True or False:

The current account holder may make payment by cheque.

• True

• False

Which of the following is the correct description for fixed deposit account

• Allowed to make payment from cheque

• Savings cannot be withdrawn before the maturity date.

• Saving can be withdrawn through automated teller machine

At the beginning of the year, Daniel saves RM 10000 in a fixed deposit account which offered an interest rate or 5% per annum and the interest is compounded once every 4 months. What is the amount of interest receive by Daniel by the end of the year?

• RM508.38

• RM509.45

• RM10508.38

• RM10509.45