Understanding Exchange and Interest Rates (703/709)

If 1 Canadian dollar (CAD) is equal to 0.75 Euros (EUR), how many Euros would you get for 200 CAD?

• 150 EUR

• 200 EUR

• 250 EUR

• 300 EUR

Tags

ONTARIO.MATH.7.F1.1

You have 500 Euros and want to convert them to Canadian dollars. If 1 Euro is equal to 1.5 CAD, how much CAD will you receive?

• 650 CAD

• 750 CAD

• 800 CAD

• 850 CAD

Tags

ONTARIO.MATH.7.F1.1

If the interest rate on a savings account is 2% per year, how much interest will you earn in one year on a deposit of 1000 CAD?

• 10 CAD

• 20 CAD

• 30 CAD

• 40 CAD

Tags

ONTARIO.MATH.7.F1.5

How does a higher interest rate affect the cost of borrowing money?

• It decreases the cost

• It has no effect

• It increases the cost

• It eliminates the cost

Tags

ONTARIO.MATH.7.F1.5

Which of the following accounts would be best for saving money if you want to earn the most interest?

• Account A: 1% interest rate, no fees

• Account B: 2% interest rate, $5 monthly fee

• Account C: 1.5% interest rate, $2 monthly fee

• Account D: 0.5% interest rate, no fees

Tags

ONTARIO.MATH.7.F1.6

If you are comparing two loans, one with a 5% interest rate and another with a 7% interest rate, which loan will cost you more over time?

• The 5% loan

• The 7% loan

• Both will cost the same

• It depends on the loan amount

Tags

ONTARIO.MATH.7.F1.6

If 1 Canadian dollar is equal to 0.8 US dollars, how many Canadian dollars would you need to get 160 US dollars?

• 120 CAD

• 160 CAD

• 200 CAD

• 220 CAD

Tags

ONTARIO.MATH.7.F1.1

You have 300 CAD and want to convert it to British Pounds (GBP). If 1 CAD is equal to 0.6 GBP, how much GBP will you receive?

• 150 GBP

• 180 GBP

• 200 GBP

• 220 GBP

Tags

ONTARIO.MATH.7.F1.1

If the interest rate on a loan is 3% per year, how much interest will you pay in one year on a loan of 2000 CAD?

• 30 CAD

• 60 CAD

• 90 CAD

• 120 CAD

Tags

ONTARIO.MATH.7.F1.5

How can a lower interest rate benefit someone who is saving money?

• It increases the amount of interest earned

• It decreases the amount of interest earned

• It has no effect on savings

• It reduces the risk of losing money

Tags

ONTARIO.MATH.7.F1.5