Grade 7 Financial Literacy

If there are no additional fees, how much would it cost to buy 200 euros

and then sell them back at the following rates?

Buy: 1 EUR = 0.66436 CAD Sell: 1 EUR = 0.62317 CAD

• $4.28

• $8.24

• $8.59

• $4.82

According to the chart, what is the estimated monthy food expense? Type the number only (no dollar sign).

According to the chart, what is the estimated monthy housing expense? Type the number only (no dollar sign).

According to the chart, what is the estimated monthy clothing expense? Type the number only (no dollar sign).

According to the chart, what is the estimated monthy expense for other purchases? Type the number only (no dollar sign).

3. Calculate the interest on the principal (P) for the interest rate (r) given.

P = $150, r = 7%

• $10.80

• $10.25

• $10.50

• $10.05

3. Calculate the interest on the principal (P) for the interest rate (r) given.

P = $220, r = 5%

• $11.80

• $11.00

• $10.50

• $11.05

3. Calculate the interest on the principal (P) for the interest rate (r) given.

P = $75, r = 14%

• $11.80

• $11.00

• $10.50

• $11.05

Jasmin keeps a balance of $1000 in her account. She makes an average of

8 transactions each month. Which account would be Jasmin's best choice for depositing her money?

• Chequing

• Savings

Why do we study financial literacy?

• Because it's interesting

• Because it has real life applications

• Because it's important

• All of these answers are correct