MPF Unit 1 Quiz

MPF pauses when students are not in school. Consequently, they do not have to worry about paying bills.

• True

• False

If a bill is past due in MPF, it must be paid off all at once.

• True

• False

All bills can be paid with a credit card in MPF

• True

• False

All student have to do to use an item is purchase it in the "Shopping Mall" so it appears on their "Personal Inventory" page in MPF

• True

• False

A student's academic performance can impact their in-class paychecks

• True

• False

The trick to making smart financial decisions is removing emotion and looking at the numbers first.

• True

• False

Financial decisions are strictly about numbers and never have an emotional component

• True

• False

What is the third step to making smart financial decisions

• Identify the Financial Question

• Justify

• Collect Relevant Data

• Solve Mathematically

How do you calculate interest?

• Loan amount x Interest rate

• Interest rate x Loan Term

• Loan Term x Interest Rate x Number of Years

• Loan Amount x Interest Rate x Loan Term

Lawn Mower Option A: $275 w/ 20% off (must be assembled)

LM Option B: $299 w/ 25% off (already assembled)

Which is the best PRICE?

• Option A

• Option B

• They are the same