CONSUMER MATHEMATICS : SAVINGS AND INVESTMENTS (F3)

Pilih jenis simpanan.

Choose the type of savings.

(You can choose more than one answer)

• Akaun Simpanan Saving Account

• Saham

  Share

• Akaun simpanan tetap

  Fixed deposit account

• Akaun simpanan semasa

  Current account

• Bon

  Bond

These are the benefits in using Saving Accounts EXCEPT

• can save any amount according to saving account holder's ability.

• receive interest based on the total amount and duration of savings

• interest rate is higher compared to fixed deposit account

• the saving account holder can withdraw the savings at any time

The following is true statement about Fixed Deposit Account EXCEPT

• A sum of money is saved for a certain period of time

• Account holder will be offered more competitive interest rates compared to Saving Account

• Saving can be drawn before the maturity date

• A saving certificate will be issued to the account holder

Which one is TRUE statement about Current Account? (More than one answer)

• Saving in the current account can be used for personal or business purposes.

• Account holder cannot make payment to another party by cheque.

• Some bank not pays interest on the saving in the Current Account and is subjected to services charges

• Normal withdrawn are usually allowed via debit cards and other channel such as Internet banking, phone banking and so on.

• Account holder cannot enjoy an overdraft facility (withdraw money beyond balance of deposit) but with interest charges.

Interest of savings are rewarded paid by financial institutions such as bank to depositors. There are 2 types of interest which is simple interest and _____________.

• fixed interest

• flat interest

• compound interest

• principal interest

Which one the CORRECT formula for calculating the simple interest?

Rate is given in _____(1)______ form.

Thus, we must divide the rate by a ____(2)____.

• (1) number

  (2) hundred

• (1) percentage

  (2) thousand

• (1) number

  (2) thousand

• (1) percentage

  (2) hundred

• RM20

• RM200

• RM1,200

• RM10,200

Calculate monthly instalment if Sofia makes a personal loan of RM40 000 with the flat interest rate of 4.5% per annum for 7 years.

• RM1050

• RM920

• RM735.33

• RM626.19

What is the impact on simple interest as a result of changing the savings period?

• The longer the saving period (at the bank), the higher amount of interest earned.

• The longer the saving period (at the bank), the lower amount of interest earned.