Topic#1 Earning, Saving, Interest

How do you define earning?

• The money made from doing a job

• The amount of money paid per hour of work

• Putting money into a bank account

• A financial gain

What is an hourly rate

• the money made from doing a job

• the amount of money paid per hour of work

• the total amoun deposited

• taking money out of the a bank account

Taking money out of a bank account is a

• Deposit

• Loan

• Withdrawal

• Profit

Money paid by the borrower as a reward to the lender is

• Deposit

• Interest

• Loan

• Profit

A bank account that earns interest on deposits is a

• Checking Account

• Savings Account

• Deposit

• Borrower

What does the "/" symbol means in MoneyTime

• addition

• subtraction

• multiplication

• per

If you rake leaves for 1.5 hours @ $10 /hour and wash the neighbor’s dog for half an hour @ $7 /hour, how much will earn?

• $17.50

• $20.00

• $18.50

• $18.75

The hourly rate is...

• The number of hours it takes to do a job

• The amount you get paid for each hour you work

• How much you get paid for the job

• None of the above

Is earning interest a simple and effective way to make money?

• No, it would be easier to rob a bank

• Yes, all you have to do is put it in a savings account

• No, earning interest is hard work

• Yes, all you need to do is hide your money under your bed

What happens if you withdraw money from your savings account?

• You make more money

• The bank will give you more money

• The bank will pay you a lower rate of interest that month

• None of the above