A deposit of $1,000 into a savings account paying 4% interest is estimated to double in 18 years is an example of
W!SE Pre-test

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Life Skills
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9th - 12th Grade
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Hard
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1.
FLASHCARD QUESTION
Front
Back
The Rule of 72
2.
FLASHCARD QUESTION
Front
An ATM fee may be charged if a withdrawal is made from an ATM located at a local gas station but not owned by your bank.
Back
located at a local gas station but not owned by your bank
3.
FLASHCARD QUESTION
Front
A homeowner's mortgage payments are based on the amount borrowed, the length of the time, and the
Back
interest rate on the loan
4.
FLASHCARD QUESTION
Front
Mary lives in a high crime area where there's a high level of break-ins. Tamara lives in an area where break-ins are very rare. Based only on this information, Mary's homeowner's insurance is likely to be
Back
higher than Tamara's
5.
FLASHCARD QUESTION
Front
Which of the following is a variable expense? rent, car payment, grocery bill, loan payment
Back
grocery bill
6.
FLASHCARD QUESTION
Front
A person's credit history is important because it is used by lenders to determine whether or not to approve credit.
Back
lenders to determine whether or not to approve credit
7.
FLASHCARD QUESTION
Front
Your car breaks down and you need to get it repaired in order to go to work. Which answer is the best choice to use to repair your car? Options: take your mother's jewelry to the pawn shop to get money, sell share of stocks, use money you've saved for emergencies, take out a payday loan
Back
use money you've saved for emergencies
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