Methods of Payment
Money in coins or bills. Mostly used to pay for smaller purchases.
What is cash?
Amount of sales tax in Ontario (a percentage).
What is 13%?
Something that you must have in order to be healthy and safe.
What is a need?
Any money that you earn or receive.
What is income?
If two books cost $6, how much does one book cost?
What is $3?
A piece of paper that is signed by an individual and given to someone else for payment for something.
What is a cheque?
John buys a toy that costs $10.00. Sales tax is 13%. How much money will he pay in sales tax?
What is $1.30?
An individual or organization that borrows money.
What is the borrower?
Anything that you spend money on (needs/wants).
What is expense?
If 1 peach costs $0.25, then 3 peaches cost...
What is $0.75?
A card given by banks that allows you to borrow money. If you are late paying back the money, you pay interest.
What is a credit card?
Zara buys a shirt that costs $30.00. Sales tax is 13%. How much money will she pay in sales tax?
What is $3.90?
An individual or organization that lends the money.
What is the lender?
Income is equal to or greater than expenses.
What is a balanced budget?
If 4 apples cost $2.00, then 1 apple costs...
What is $0.50?
A card that allows you to pay for things out of your bank account.
What is a debit card?
Anne buys a VMAX Pokémon card that costs 7.99. Sales tax is 13%. How much money will she pay in sales tax?
What is $1.04?
Something that would be nice to have, but you can be healthy and safe without it.
What is a want?
If someone is spending more money than they earn.
What is debt?
SportChek is selling basketballs for $30 for 3. Canadian Tire is selling basketballs for $60 for 5. Which store has the better value?
What is SportChek?
When we send money electronically taken out of our bank account.
What is electronic/email money transfer?
Milo buys pants that cost $49.90. Sales tax is 13%. How much money will he pay in sales tax?
What is $6.49?
An additional fee the borrower pays to the lender when they pay back a loan.
What is interest?
If someone is spending less money than they earn.
What is savings?
Sobeys is selling 5 cans of soup for $6 while Superstore is selling 8 cans of soup for $10. Which store has the better deal?
What is Sobeys?