What are grants?
2024 Math of Finance SEMESTER TEST Review

Flashcard
•
Mathematics
•
12th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Back
Free money that comes from a variety of sources; it does not have to be paid back.
2.
FLASHCARD QUESTION
Front
How do you calculate the new balance after writing a check?
Back
Subtract the amount of the check from the current balance.
3.
FLASHCARD QUESTION
Front
What is the intended purpose of a 401(k)?
Back
Invest money for retirement.
4.
FLASHCARD QUESTION
Front
What are the essential components of a check?
Back
Signature, Date, Amount written in words and numbers.
5.
FLASHCARD QUESTION
Front
If you have $546.24 and write a check for $100.35, what is your new balance?
Back
$445.89.
6.
FLASHCARD QUESTION
Front
What is the difference between a grant and a loan?
Back
A grant does not have to be repaid, while a loan must be repaid with interest.
7.
FLASHCARD QUESTION
Front
What is the purpose of a checking account?
Back
To manage daily transactions and keep funds accessible.
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