Financial Arithmetic Basis

Credit is

• the ability to borrow money or access goods or services with future payment.
• a form of insurance policy.
• a method of saving money.
• a type of investment strategy.

Debt is

• a type of investment that generates income.
• a financial strategy to increase wealth.
• a legal agreement to transfer property rights.
• an amount of money borrowed that must be repaid.

Cash is

• a method of saving money
• a medium of exchange in the form of coins and banknotes
• a type of investment
• a form of digital currency

Interest is

• a type of savings account
• a government tax
• a form of currency
• the cost of borrowing or the return on investment

Debit is

• an entry that decreases an asset or expense account
• a transaction that only affects cash accounts
• an entry that increases a liability or equity account
• Using money that is readily available in a current account - means money available to spend

APR stands for

• Annual Payment Rate
• Average Percentage Rate
• Annual Percentage Rate
• Adjusted Payment Rate

A credit score is

• A measure of a person's income level.
• A record of all bank transactions.
• A summary of a person's employment history.
• A numerical representation of a person's creditworthiness.

3. Jasmine has Php 1 000.00 in her pocket. She spent 25% of it in a Jollibee. How much did she spend?

5. Twelve out of 20 people in one barangay are 18 years old or below. What percent of the people are 18 years old above?

What percent of 20 is 12?

• 60%

• 50%

• 40%

• 20 %