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- 1. Multiple ChoiceThe money that you receive for mowing the lawn, babysitting or making good grades is called__________.incomecreditdebtinterest
- 2. Multiple ChoiceTony borrowed money from the bank to buy a new house. A year later he lost his job and has started to not be able to make his house payments. This problem is known as what?creditbudgetdebtinterest
- 3. Multiple ChoiceMy cousin wanted to borrow $300 from me. I loaned him the money but I told him that he would have to pay me back $330. The money that was paid back to me on top of the loan is known as_________.creditinterestsavingsdebt
- 4. Multiple ChoiceThe bank agreed to loan me the money that I needed to start my new business. My ability to borrow this money is known as what?interestbudgetdebtcredit
- 5. Multiple ChoiceI have been setting aside $100 a month for my children to have money to go to college. This idea is known as what?savingscreditincomedebt
- 6. Multiple ChoiceEvery month after my parents pay all of the family’s bills they set aside a little bit of money for the family to do fun things like go to the movies, bowling and even go to amusement parks.
My family uses a _____________incomedebtinterestbudget - 7. Multiple ChoiceYou find out that you are going to have to purchase your first car. You need to start using which of the following personal finance terms?savingsbudgetcredityou would need to use all 3 of these
- 8. Multiple ChoiceYour forgot to pay $100 on your credit card bill this month, your next month's bill is going to be $112. How much interest did they charge for missing your payment?112%2%12%22%
- 9. Multiple ChoiceYou earn $300 a week and you are able to save half of that each week. You are saving money to go on a trip with your friends after you graduate high school. the trip is going to cost $1,350. How many weeks will you have to work to save enough money to go on the trip?4 and a half weeks11 weeks9 weeks7 weeks
- 10. Multiple ChoiceWhich of the following is not true about the difference between credit cards and debit cards?purchases made with a debit card come directly out of your bank accountyou must pay off your credit card bill monthly or there will be penaltiesyou must have a bank/checking account to use a debit cardcredit cards use money from your savings account
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