Personal Finance Midterm

Rent to own is a good option to get things you want to have.

• True

• False

Which of the following are better options than getting an item from a rent to own store?

• Using a credit card to buy it and making regular payments

• Saving up the money to buy it

• Trying to find a similar item that is used that you can afford

• All of these are better options

If you chose to make weekly payments on this rent to own item, you would have it paid off in...

• about a year and a half

• around 5 years

• Less than 1 year

• 2 years and 3 months

If you chose to make weekly payments on this rent to own item, how much would you pay by the time you had made all the payments?

• $2617

• $1727

• $34

• $135

According to this pricing, how much could you save by paying the same as cash price instead of the total cost to own?

• Around $900

• Around $50

• Around $2000

• Around $500

How does the same as cash price at a rent to own place compare with the price you would pay on a website like Amazon?

• Around the same

• A bit less

• A lot more

• A lot less

If you are following a 50-30-20 budget, how do you know how much you can use for saving for the future?

• If you have no debt, you can use 20% of your income for savings

• You just decide how much you want to save and then you can spend the rest

• You pay all your bills and then you can save the rest

Which of these hourly wages will give you around $60,000 a year for full time work.

• $20

• $30

• $40

• $50

Most jobs these days will pay you a pension when you retire

• True

• False

If someone does not have a job, they don't have any income.

• False

• True