interest trivia

8/2/2019 Interest Trivia

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2/58

Please select a Team.

25%

25%

25%

25%

1. Team Bling2. Team Benjamins

3. Team Swaggadelic4. Team All Dat


3/58

Talk like aBanker MoneyMath Bet TheStore BuildingBig Bucks

Ill Gladly

Pay YouTuesday

200 200 200 200 200

400 400 400 400 400

600 600 600 600 600

800 800 800 800 800

1000 1000 1000 1000 1000


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Talk like a Banker200 Points

The fee charged for the use of money.


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Answer

Category Selection

25%

25%

25%

25% 1. Debt

2. Principal

3. Interest4. Deposit


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Money that is legally owed to

another individual or business


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Answer

Category Selection

25%

25%

25%

25% 1. Debt

2. Principal

3. Interest

4. Deposit


8/58


The original amount of money that is

loaned or borrowed (used to calculateinterest).


9/58

Answer

Category Selection

25%

25%

25%

25% 1. Debt

2. Down-payment

3. Interest-Bearing Account

4. Principal


10/58


The periodic charge, expressed as a

percentage, for the use of someoneelses money.


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Answer

Category Selection

25%

25%

25%

25% 1. Period

2. Compounding3. Amortization

4. Interest Rate


12/58


The process where interest that is

calculated becomes part of the principalfor the next interest calculation.


13/58

Answer

Category Selection

25%

25%

25%

25% 1. Compounding

2. Debt

3. Finance Charge

4. Periodic Charge


14/58

Money Math200 Points

How much will you have in 1 year if

You deposit $1,000.00 at 8%(simple interest)


15/58

Answer

Category Selection

25%

25%

25%

25% 1. $ 80.00

2. $ 1,008.00

3. $ 1,080.00

4. $ 1,800.00


16/58


What is the monthly periodic

interest rate if the annual rate is18.00%


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Answer

Category Selection

25%

25%

25%

25% 1. 1.00%

2. 0.0018

3. 15.00%4. 1.50%


18/58


19/58

What percentage of your currentpoints would you like to wager on the

next question?

1. 0%

2. 25%3. 50%

4. 75%

5. 100%6.


20/58

Money MathDaily Double

Using the Rule of 72, how long will it

take for a $10,000 deposit to become$20,000 at 3.0%


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Answer

Category Selection

25%

25%

25%

25% 1. 20 years

2. 36 years

3. 36 months

4. 24 years


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Josie borrows $1,000 at 6.0% andhas a $80 dollar monthly payment.

How much would she owe after shemakes her first payment?


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Answer

Category Selection

25%

25%

25%

25% 1. $ 925

2. $ 9953. $ 1,005

4. $ 920


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You deposit $10,000 in a savingsaccount for 3 months and when you

withdraw the money you get$10,250. What was the Annual

Percentage Rate?


25/58

Answer

Category Selection

25%

25%

25%

25% 1. 2.50%

2. 5.00%

3. 10.00%

4. 25.00%


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Bet the Store200 Points

The Cost of Goods sold is

calculated using this.


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Answer

Category Selection

25%

25%

25%

25% 1. The Margin on Inventory

2. The Total Amount Spent on

Inventory

3. The Revenue on the ProductsSold

4. The Amount Spent to Purchasethe Products that were sold


28/58


Rent, Wages, Radio Commercials,Billboards . . .


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Answer

Category Selection

25%

25%

25%

25% 1. Are expenses.

2. Are liabilities.

3. Are revenue.4. Are profit.


30/58


Profit (or loss) for the week is in

listed on . . .


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Answer

Category Selection

25%

25%

25%

25% 1. The Paystub

2. The Balance Sheet3. The Income Statement

4. The Purchase Order


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The amount added to the cost of a

product for sale.


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Answer

Category Selection

25%

25%

25%

25% 1. Expense

2. Margin

3. Profit

4. Revenue


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The act of buying items to sell is called


35/58

Answer

Category Selection

25%

25%

25%

25% 1. Staffing

2. Merchandising

3. Purchasing

4. Pricing


36/58

Building Big Bucks200 Points

A place where your money WONT

grow because of interest


37/58

Answer

Category Selection

25%

25%

25%

25% 1. A Credit Union

2. A Bank

3. A Savings and Loan

4. Under a Mattress


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If you saved $11.00 per day for 40 years(at 8% interest), how much money would

you have in the Bank?


39/58

Answer

Category Selection

25%

25%

25%

25% 1. $ 250,000

2. $ 500,000

3. $ 1,000,000

4. More than Oprah Winfrey


40/58


Which of the following is NOT anInterest-Bearing Account


41/58

Answer

Category Selection

25%

25%

25%

25% 1. Checking Accounts

2. Money Market Accounts

3. Certificates of Deposit4. Savings Accounts


42/58


In order to know exactly how much youwill earn on your deposit in a savings

account, you need to know . . .


43/58

Answer

Category Selection

25%

25%

25%

25% 1. Interest rate, fees, principal

2. Principal, withdrawals, deposits

3. Interest rate, principal, time

4. Deposit, interest charges, rate


44/58


Most millionaires


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Answer

Category Selection

25%

25%

25%

25% 1. Were born rich.

2. Date Super Models.

3. Are big time corporate CEOs.

4. Have a College Education.


46/58

I'll Gladly Pay You Tuesday .. .200 Points

When you borrow money, you will pay. . .


47/58

Answer

Category Selection

25%

25%

25%

25% 1. Fees and Interest charges

2. Principal only

3. Interest only4. Principal, Interest


48/58


Banks make their money by. . .


49/58

Answer

Category Selection

25%

25%

25%

25%1. Borrowing at a low rate and

lending at a high rate.

2. Offering Interest-BearingAccounts

3. Lending at a low rate to manypeople.

4. Having their ATM machinebreak down.


50/58


The Interest rate charged by the

bank for borrowed money isdetermined by. . .


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Answer

Category Selection

25%

25%

25%

25% 1. Amount and Collateral

2. Credit Score and Fees

3. Time & Risk of Default (non-payment)

4. Collateral and Character


52/58


53/58

What percentage of your currentpoints would you like to wager on the

next question?

1. 0%

2. 25%

3. 50%

4. 75%

5. 100%6.


54/58

I'll Gladly Pay You Tuesday .. .Daily Double

The PIR =


55/58

Answer

Category Selection

25%

25%

25%

25% 1. AP x R

2. AR x P

3. P / AR

4. AR / P


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I'll Gladly Pay You Tuesday .. .

1000 Points

You have a credit card balance of$1,000. The minimum monthly paymentdue is 3% of your balance. The interest

rate is 18% annually. How much of yourminimum payment is going to Interest

Charges?


57/58

Answer

Category Selection

25%

25%

25%

25%

You have a credit card balance of $1,000. Theminimum monthly payment due is 3% of your

balance. The interest rate is 18% annually. Howmuch of your minimum payment is going to InterestCharges?

1. 10%

2. Half

3. About 6%

4. $ 9.00


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