Personal Finance Content Quiz Ch. 1

How much interest is earned on $269 at 10% for five years? Use the formula: Principal X Interest X Years=

• $2.50

• $134.50

• $154.50

• 1134.50

How much interest does a $482 investment earn at 5% over three years? Use the formula: Principal X Interest X Years=

• $7.30

• $772.30

• $436.30

• $72.30

Which are NOT one of the eight strategies you can apply to achieve your financial goals?

• Obtain

• Plan

• Depend

• Manage Risk

Which is NOT a NEED?

• Shelter

• a Ps5 Game System

• a Coat for Winter

• Water

Which are NOT one of the 8 strategies you can apply to achieve your financial goals? Multiple correct answers.

• Save

• Obtain

• Provide

• Donate

What are two economic factors that affect financial decisions? Answers start on pg 14.

• Markets

• Condition Economic

• Market Forces

• Economic Conditions

Future value computations are also called ____________.

• customs

• dividends

• compounding

• principal

Many factors will influence your day-to-day decisions about finances.

The three most important factors are:

• economic factors

• life situations

• personal values

• supply factors

What is the difference between a fixed expense and a variable expense?

• fixed doesn't change and a variable changes each month

• fixed is increases monthly and variable also increases

• fixed is the same and variable is the same each month

• variable changes and fixed also changes each month

Which are NOT the financial goals and activities for a single parent with young children? Look at Figure 1.2. Select All That Apply.

• Get Health, life and disability insurance

• Make a trust

• Establish a family fund

• Name a guardian for your children in a will