WorksheetsMONEY SENSE
Total questions: 11
Worksheet time: 6mins
Which subtopic does the 50/30/20 rule primarily focus on?
savings and investments
credit card management
tax planning
budgeting and personal finance
What percentage of income should be allocated to wants according to the 50/30/20 rule?
70%
50%
30%
10%
What percentage of income should be allocated to savings according to the 50/30/20 rule?
10%
40%
20%
30%
What is the purpose of the 50/30/20 rule?
The purpose of the 50/30/20 rule is to decide how much time to spend on different tasks.
The purpose of the 50/30/20 rule is to provide a simple and effective way to budget and manage personal finances.
The purpose of the 50/30/20 rule is to calculate the ideal temperature for a room.
The purpose of the 50/30/20 rule is to determine how much to tip at a restaurant.
Which of the following is NOT a recommended allocation according to the 50/30/20 rule?
Saving 10% of income for debt repayment
Investing 20% of income in stocks
Saving 40% of income for retirement
Spending 30% of income on wants
Who is the creator of the Rule of 72?
Lieutenant Commander Cruz
Bill Gates
Elon Musk
Albert Einstein
Which of the following is the formula for the Rule of 72?
Time Divided by 72 Equals the Interest Rate
72 Divided by Interest Rate Equals the Time to double your money
Interest Rate Multiplied by 72 Equals the time to double your money
Your money deposit divided by 72 Equals the time to double your money
If I invest $20,000 in a Certificate of Deposit that pays 3% interest, how many years till I double up my money?
5
12
24
36
If I invest $10,000 in a Stock that pays 12% interest at the age of 18, at what age will I see my money double up?
24
23
22
21
If I invest $100,000 in a Stock that pays 12% interest at the age of 18, at what age will I see my money double up the second time around?
29
30
31
32
What interest rate is required to double $4,000 in 9 years?
7%
9%
10%
8%
