
Challenges to Saving and Investing
Authored by Emmanuel Chinemelu
Mathematics
12th Grade
CCSS covered
Used 2+ times

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26 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Best for short term goals
saving
investing
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Best for long term goals
Saving
Investing
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does it mean to "pay yourself first"?
Deposit money into your savings account before spending on anything else.
Purchase an item you want before something you need.
Pay all of your mandatory expenses before paying for optional expenses.
Obtain an additional job to supplement your income.
Tags
CCSS.RI.11-12.3
CCSS.RI.11-12.5
CCSS.RI.9-10.3
CCSS.RI.9-10.5
CCSS.RI.8.3
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How do you distribute your money when using the 50-20-30 rule?
50% should be used for fixed/essential expenses, 20% for savings, and 30% for flexible expenses.
50% should be for savings, 20% for flexible expenses, and 30% for fixed/essential expenses
50% should be for rent, 20% for groceries, and 30% for entertainment
50% should be for gasoline and car maintenance, 20% for rent, and 30% for flexible expenses.
Tags
CCSS.6.RP.A.3C
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How is compound interest different from simple interest?
Compound interest is when interest is paid on the principal amount only. Simple interest is when interest is paid on the principal amount and on the interest already earned.
Simple interest is when interest is paid on the principal amount only. Compound interest is when interest is paid on the principal amount and on the interest already earned.
The money earned from simple interest can only be accessed after 1 year, while you can access the money earned from compound interest at any time.
The money earned from compound interest is placed into a separate account, while the money earned from simple interest stays within the same account.
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does it mean to set up an “automatic deposit”?
You can set up your paycheck to be automatically delivered to your mailing address in an envelope in cash.
A copy of your paycheck gets automatically sent to the IRS so that you do not need to file taxes for that year.
You set up an amount of your paycheck to be deposited into an account automatically.
Your bills are automatically paid for by the bank.
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
_____ is for emergencies & goals
Saving
Investing
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