Account Types
Investments
Interest
Major Purchases
Mixed Bag
100
This account type usually has an annual interest rate of 20%.
What is a credit card?
100
This type of investment is specifically for retirement.
What is an RRSP?
100
This type of interest is only calculated on the original amount invested or borrowed.
What is simple interest?
100
Name 3 things that often require financing.
What is a car, a home, purchases over $5000?
100
This person pays the real estate agent this % during the sale of a house.
What is the seller and 2%?
200
This type of bank account usually has no rewards and little to no interest.
What is a debit account?
200
This type of investment is specifically for education.
What is an RESP?
200
This type of interest is calculated based on the initial investment, plus interest, at the end of each term.
What is compound interest?
200
This car purchase option allows you to have a new car for a short period of time before returning it.
What is a lease?
200
Name 3 things that depreciate in value.
What is technology, new vehicles, clothing?
300
When signing up for a financial account, you should always read this to fully understand.
What is a debit card?
300
This type of investment allows you to earn interest, but you do not have to pay taxes on it.
What is a TFSA?
300
In the formula for interest, this is the word used for the initial amount invested or borrowed.
What is the principal?
300
This car purchase option often comes with a lower interest rate, and financing options.
What is a new car purchase?
300
The word that represents the trend pictured here.
What is appreciation?
OR What is a sellers market?
OR What is inflation?
400
This type of account is not usually attached to a card, but is a bank account used to borrow finances for large purchases.
What is a line of credit?
400
This type of investment is considered high risk.
What are stocks?
400
In compound interest, this is how you calculate the number of compounding periods.
What is number of terms per year X number of years?
400
3 things you should secure before starting to house hunt.
What is a down payment, a pre approved mortgage and a real estate agent?
400
Budget limit should be based on this.
What is net income?
500
This account type is created by an adult for a child, and can be accessed at a set age.
What is a trust fund?
500
This type of investment is low risk and a great option for new investors as is has a fixed interest rate and term.
What is a GIC?
500
In compound interest, this is how you calculate the interest rate per term.
What is the annual interest, divided by the number of terms per year?
500
5 things you need to provide to the bank to be pre-approved for a mortgage.
What is a credit score, employment records, proof of income, proof of assets, evidence of loans, evidence of savings or investments?
500
This type of expense changes from month to month.
What is a variable expense?