What Do You Know About Money?
10 Questions
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Questions and Answers
- 1.Does Money grow on trees?
- A.
True
- B.
False
- 2.Companies are there to help you?
- A.
True
- B.
False
- 3.Setting and sticking to a budget is good?
- A.
True
- B.
False
- 4.All debt is bad?
- A.
True
- B.
False
- 5.When you take out a loan the lower the interest rate the less you pay in total?
- A.
True
- B.
False
- 6.What is Debt?Debt is where you borrow money from someone, so you now owe them money and have to pay it back?
- A.
True
- B.
False
- 7.One of the most dangerous things you can do with money is consistently spend more than your earn, and borrow to fill the gap?
- A.
True
- B.
False
- 8.Store cards will always give you the best rate of interest?
- A.
True
- B.
False
- 9.You owe £3000 on a credit card with an interest rate of 17.9%, you repay the minimum of 2% on the card, how long will it take you to pay off the debt?
- A.
10 years
- B.
20 years
- C.
40 years
- 10.What is the maximum rate of interest on a Norfolk Credit Union loan?
- A.
16.8% APR per month
- B.
26.8% APR per month
- C.
36.8% APR per month
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