NEW
Font size
WorksheetsFuture Smart: Growing a Business (Module 5)
Total questions: 11
Worksheet time: 6mins
Which of the following is NOT a benefit of putting money in a savings account?
You can make frequent withdrawals
You can earn interest
It is harder to spend the money
The money is safe and secure
Aaron wants to open a savings account. Which account will grow his money the most?
Account 1 - Interest rate 2%, Interest compounded daily
Account 2 - Interest rate 1%, Interest compounded daily
Account 3 - Interest rate 2%, Interest compounded semi-annually
Account 4 - Interest rate 1%, Interest compounded annually
Revenue is:
The amount of money a company pays its employees
The amount of money a company has left after paying bills
The amount of money a company makes from sales
The amount of taxes a company has to pay
The average price of a gallon of milk increased from $3.00 last year to $3.50 this year. This is most likely due to ______________________.
inflation
the stock market
deflation
the market basket
Which interest-bearing account is best for people who won’t need access to their money for more than a year?
Savings Account
Checking Account
Certificate of Deposit
Credit Card
Why would you put money into a savings account?
To make frequent withdrawals at ATM’s
To earn interest on your money
To access the money from this account with personal checks
To easily access money from this account with a debit card
What is the first step you should take when you want to open a savings account?
Go to the bank and fill out an application
Review the different account options that your bank offers
Present your photo ID to the bank representative
Make your initial deposit
A loss is when:
Revenue is greater than expenses
Revenue is less than expenses
Revenue is equal to expenses
Your sister is looking for a way to increase the amount of interest she is earning on her savings account. What should she do?
Use the money from her savings account to open a checking account instead
Make monthly withdrawals from her savings account
Switch to a savings account with a lower interest rate
Deposit money into her savings account each month
What is required when opening a checking account?
An Initial Deposit
A Salary
A Credit Card
A copy of your last paycheck
Which of the following best describes deflation?
A decrease in the cost of goods and services
An increase in the cost of goods and services
A decrease in purchases of a good or service
An increase in purchases of a good or service
