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Quiz

Suppose you have $10000 in a savings account earning 3 percent interest a year. After five years, how much would you have?
More than $10300 Exactly $10300 Less than $10300 Don't know
Suppose you have some money. Is it safer to put your money into one business or investment, or to put your money into multiple businesses or investments?
Multiple businesses or investments One business or investments Don't know
Suppose over the next 10 years the prices of the things you buy double. If your income also doubles, will you be able to buy less than you can buy today, the same as you can buy today, or more than you can buy today?
Less Same More Don't know
Suppose you need to borrow $10000. Which is the lower amount to pay back: $10500 or $10000 plus 3% ?
$10500 Same $10000 + 3% Don't know
Suppose you put money in the bank for two years and the bank agrees to add 20% per year to your account. Will the bank add more money to your account the second year than it did the first year, or will it add the same amount of money both years?
Less Same More Don't know
Suppose you had $10000 in a savings account and the bank adds 10% per year to the account. How much money would you have in the account after five years if you did not remove any money from the account?
More than $15000 Exactly $15000 Less than $15000 Don't know
Imagine that the interest rate on your savings account is 50% a year and inflation is 100% a year. After one year, would the money in the account buy more than it does today, exactly the same or less than today?
Less Same More Don't know
A 15-year mortgage typically requires higher monthly payments than a 25-year mortgage but the total interest over the life of the loan will be less.
True False
Buying a single company's shares usually provides a safer return than shares in an exchange-traded fund.
True False
Suppose you owe $10,000 on a loan and the interest rate you are charged is 20% per year compounded annually. If you didn't pay anything off, at this interest rate, how many years would it take for the amount you owe to double?
Less than 2 years 2 to 4 years 5 to 9 years 10 or more years