WorksheetsFinancial Decision-Making Quiz
Total questions: 3
Worksheet time: 2mins
You decide to get a loan for a new house. You choose to lock in your loan with an interest rate of 5.25 percent. You buy your house and are happy with the purchase. Five months later, the interest rates drop to 3.5 percent. You realize that you could have waited to get a better deal. What does this scenario BEST demonstrate?
personal risks
income risks
interest rate risks
inflation risks
Years ago, your grandfather gave money to a friend who wanted to start a grocery store. As the grocery store earns profits, this friend gives a share of the profits back to your grandfather. Your grandfather has nothing to do with the grocery store, but he still earns money as a silent partner in the business. What type of income is this known as?
passive income
earned income
investment income
inheritance Income
Families should avoid using shared decision-making at all times.
True
False
