Compound interest & Kiwisaver

Compound interest & Kiwisaver

9th Grade

13 Qs

quiz-placeholder

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Compound interest & Kiwisaver

Compound interest & Kiwisaver

Assessment

Quiz

Business

9th Grade

Practice Problem

Hard

Created by

Vaughan Smith

Used 1+ times

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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Change 6.5% to a decimal

.65

6.5

.065

.065%

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is compound interest?

Interest on interest

Interest on savings

Interest on compounds

Interest on spending

3.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What did Einstein say about compound interest?

Those who know about it dont need to use it

Those who dont understand it dont use it

Those who dont understand it, it gets used against them

Those who understand it use it to their benefit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If I have $200 interest in the first year of a two year investment

The 2nd years interest will always be higher

The 2nd years interest will always be lower

I will have less capital overall

I will turn it into a longer investment to earn more interest

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If I invested $1000 at an interest rate of 4.5% over 1 year, taking into account inflation at 3%, in real terms, I would have:

$1,045

$1,000

Less than $1,045 but more than $1,000

More than $1,045

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Would a 2 year investment interest rate at a bank, generally be:

Higher than a 5 year rate

Lower than a 5 year rate

The same

lower than a 1 year rate

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

NZ's retirement age is

66

68

60

65

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