WorksheetsYM/Virtual/Final
Total questions: 13
Worksheet time: 12mins
What is the flow of money?
The way banks pay people
The movement of air in the atmosphere
The way money moves from the bank to the store
The way that money moves from person to person throughout society.
If you are earning interest, that means:
You are losing money
You are becoming popular on TikTok
You have money stuck in your wallet
You put money into a bank account, and you’re earning money.
When you buy something from the store, sales tax is added to your purchase. Sales tax helps fund
Banks
Employees
Government
People
Where do banks get money from for the loans they give out?
They use their own money
By borrowing the money from the accounts of people that put money in
By charging interest to the person applying for the loan
All the above
What is the purpose of a budget?
To keep track of your favorite movies
To plan and control how you spend your money
To decide what clothes to wear
To organize your books
What is compound interest?
Earning money on money you saved
Losing money over time
A game you play at the bank
What does the Rule of 72 help you figure out?
How long it takes for your money to double
How much money you can spend
How many days are in a year
What do you need to do to use the Rule of 72?
Divide 72 by the interest rate
Add 72 to your savings
Multiply 72 by the interest rate
Which is NOT an example of a want?
Candy and toys
Trip to Disneyland
Sneakers
Shelter
True/False
Credit cards typically have higher interest rates than savings accounts.
TRUE
FALSE
It's important to save some money for future needs or emergencies.
True
False
Having a bad credit history can make it harder to get a loan in the future.
TRUE
FALSE
