Financial literacy review

Front

What is a debit card?

Back

A debit card is a payment card that deducts money directly from a checking account to pay for a purchase.

Front

What happens when you make a purchase with a debit card?

Back

The payment is immediately deducted from your bank account.

Front

What is a deposit?

Back

A deposit is money added to a bank account, increasing the account balance.

Front

What is a withdrawal?

Back

A withdrawal is money taken out of a bank account, decreasing the account balance.

Front

What is tuition?

Back

Tuition is the fee charged for instruction at a school, especially at a college or university.

Tags

CCSS.RI.5.4

CCSS.RI.6.4

CCSS.RL.5.1

CCSS.RL.6.4

CCSS.RL.7.4

Front

What is a student loan?

Back

A student loan is money borrowed to pay for education that must be paid back with interest.

Front

What is a grant?

Back

A grant is financial aid that does not need to be repaid, often based on need or merit.

Tags

CCSS.RI.5.3

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.5

Front

What is a scholarship?

Back

A scholarship is a financial award given to a student based on academic or other achievements.

Tags

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

Front

How do you calculate total tuition for college?

Back

Total tuition = Annual tuition x Number of years.

Tags

CCSS.6.EE.A.1

Front

If Mike's annual tuition is $7,850, what is his total tuition for 2 years?

Back

Total tuition = $7,850 x 2 = $15,700.

Tags

CCSS.3.OA.A.3