CP Final Exam

DEFINE debt.

• Money invested into an asset.

• Money lost in an investment.

• Money owed to another person or company.

• Late credit card payments.

A card that borrows money but it has to be paid back

• Debit Card 
• Credit Card 
• Baseball Card 
• Pokemon Card 

A card that uses money directly from your bank account

• Debit Card 
• Credit Card 
• Pokemon Card 
• Baseball Card 

Buy a piece of a company, highest interest rate in the long term, but it can be risky

• Checking
• Savings
• Stocks
• Certificate of Deposit

In which of the following would you definitely not lose money that you invested?

• Certificate of Deposit
• Bitcoin
• Gold
• Stocks

Which of the below is an employer based retirement plan that both employees and employers contribute to?

• Traditional IRA

• Roth IRA

• 401K

• Pension

The money put into this type of account has already had taxes taken out.

• Pension

• 401K

• Roth IRA

• Traditional IRA

If Ralph invest $1000 dollars at 6% interest, how long will it take him to double his money?

• 21

• 12

• 6

• 24

Saul put $1500 in his savings account at 4.5% interest. 6 years later, how much interest has he earned?

• $45

• $405

• $40,500

You purchase 100 shares of Ravioli Den for $45/share. One year later, you sell the shares for $52/share. What was your TOTAL GAIN for your investment in Ravioli Den?

• $0

• $200

• $700

• $900