Final Quiz 2024

If you invest money in the "Youth Investment ETF" at an annual interest rate of 9%, how many years will it take for your investment to double?

• 8 years

• 9 years

• 10 years

• 11 years

If you invest money in the "Safe Savings CD" at an annual interest rate of 4%, how many years will it take for your investment to double?

• 18 years

• 17 years

• 19 years

• 20 years

If you invest money in the "Rapid Return Mutual Fund" at an annual interest rate of 12%, how many years will it take for your investment to double?

• 6 years

• 5 years

• 7 years

• 8 years

If you invest money in the "Steady Growth Money Market Account" at an annual interest rate of 3%, how many years will it take for your investment to double?

• 24 years

• 25 years

• 23 years

• 22 years

What is a budget?

• A plan for managing income and expenses

• A type of loan

• A place to save money

• A method to invest money

What does it mean to invest money?

• To put money into something to earn more money over time

• To spend it all

• To keep it under your mattress

• To donate it to charity

What is credit?

• Money you borrow and must pay back later

• Free money from the bank

• A reward from a store

• Money saved in a bank

What is the purpose of a savings account?

• To keep money safe and earn interest

• To hide money from others

• To spend money quickly

• To lend money to friends

What is a loan?

• Money you give to someone else

• Money you borrow and agree to pay back with interest

• Money you earn from a job

• Money you receive as a gift

What is an example of a need?

• A smartphone

• Food and shelter

• A new video game

• A designer handbag