Banking & Interest
This is the original amount of money you borrow or save.
What is the Principal?
This type of card only lets you spend the money that you already have.
A debit card.
This document lists your skills, education and work experience when applying for a job.
It is a CV (resume)
This is the money set aside during your working life to fund your retirement.
What is superannuation?
What do you call it when your income is more that your expenses?
Surplus
If you save $100 at 4% interest for 1 year, how much interest do you earn?
$4
Which Banqer high credit card has the highest credit limit?
Purple card. ($2000)
In Australia, how much tax do you have to pay on income under $18200?
$0
What is the person called who rents a property from a landlord?
A tenant
What type of insurance only covers damage to the other car in a car accident, and not yours?
Third party insurance
What do the letters in I=P x R x T stand for?
Interest = Principal x Rate x Time?
Which Banqer High credit card charges the highest interest rate?
The Kickback Card (20.95%)
What percentage is GST in Australia?
10%
What is the minimum super guarantee percentage your employer must contribute?
12%
What is the amount that you must pay your insurer when you make a claim called?
The excess
Jane has $2000 in savings at 4% annual interest. How much interest does she earn in 1 year?
$80
If you spend $1000 on the Platinum Visa (20.95% interest) and don’t pay it back in time, how much do you owe?
$1,209.50
A lawyer has a student loan of $40000. Their entry level salary is $39000. Name one job without a student loan that has a higher entry level salary.
An electrician. ($50000)
If you retire at 65 and you need $43,687 per year, how much super do you need until the average life expectancy of 83?
$786,366
Using the fried rice recipe, the rice requires 185g of uncooked rice at $0.0036 per gram. What is the cost?
$0.067
Mark has $500 and the bank charges 1.5% monthly. How much does he pay in fees over 3 months?
$22.50
What is the phrase for the number of days you have to pay back borrowed money before interest starts building up?
Interest free days
If an Australian company earns over $25 million per year, what flat tax rate do they pay?
30%
What is the legally binding contract between a tenant and a landlord called?
A tenancy agreement
What is the investment strategy that spreads money across different companies and industries to reduce risk called?
Diversification