International Currency
Is 1 CAD worth more or less than 1 USD?
Less
What is an objective that someone sets for themselves that affects how they spend and save money? (The general term, not an example)
Financial goal
Finish the sentence: Budgets include a recording of ________ and ________ over a period of time.
Income and expenses
If you're borrowing money, would you want your interest to be simple interest or compound interest?
Simple interest
What is a common type of loan that most people take out at some time in their lives?
Any of: mortgage, car loan, student loan
What is the currency of Japan called?
JPY or yen
What is a reliable source of financial information?
Any of: financial institutions (banks), business sections of newspapers, personal finance books and magazines, parents or other trusted adults, certified financial planning professionals
What are the two types of expenses?
Fixed and variable
What is the simple interest formula?
I = Prt
What is a type of bank account that pays interest and often has a limit for transactions or daily withdrawal amounts?
Savings account
What is a factor that can influence the value of a country's currency?
Any of: economic conditions, political stability, employment rates, supply and demand, interest rates
What is a factor that can influence financial decision making?
Any of: social media, advertisements, peer pressure, personal beliefs, personal health, employment and income, unforeseen circumstances, consumerism
What is a reason someone's budget might change?
Emergency situation, loss of employment/income, change in health, promotion/salary increase, large purchase, etc.
What does the rate have to be expressed as when calculating interest?
A decimal
What is an example of a financial scam?
Fake news about winning money/a gift card/a vacation, "make money fast" schemes, fake product advertisements, debit/credit card theft/fraud, etc.
If $1 WCD (Whaley's Corners Dollars) = $5 CAD, how much is $100 CAD in WCD?
$20 WCD
What is one of the factors of determining whether a financial source is reliable?
Any of: accuracy, bias, reliability, relevance
What is a type of budget?
Any of: individual, family, class, school, community, organizational
If I take out a loan for $1000 at an interest rate of 5% for a period of 3 years, what is the amount of interest the loan accumulates?
$150
How much do I end up with if I start with a cent on Day 1 and double it every day for 31 days? (To the closest million)
$11 million ($10 737 418.24)