Test Your Basic Financial Literacy

15:20' 10-09-2018
In the HILDA survey, only 24% of people aged 15-24 answered these five questions correctly, compared with 55% for those aged 55-64.

    Kết quả hình ảnh cho Basic Financial Literacy

    Photo: chartingyourfinancialfuture.com

    How would you go?

    • You put $100 into a no-fee savings account with an interest rate of 2% per year, and leave it. How much will be in the account at the end of one year?

    • The interest rate on your savings account is 1% per year, and inflation is 2% per year. After one year, could you buy more than today, less, or exactly the same with the money in the account?

    • “Buying shares in a single company usually provides a safer return than buying shares in a number of different companies.” True or false?

    • “An investment with a high return is likely to be high risk.” True or false?

    • Suppose that by 2020 your income has doubled, but prices have also doubled. Can you buy more than today, less, or exactly the same?

    The answers are $102; less; false; true; exactly the same.

    Ryoko A

     

    Vocabulary Rating Review

Keywords: inflationinterest ratesavings account

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