Financial Fitness Survey Answers

Correct answers are bolded in red!

1.  Suppose you had $100 in a savings account and the interest rate was 2 percent per year. After five years, how much do you think you would have in the account if you left the money to grow?

more than $102
exactly $102
less than $102
do not know

2.  Imagine that the interest rate on your savings account is 1 percent per year and inflation is 2 percent per year. After one year, would you be able to buy

more than today with the money in this account
exactly the same as today with the money in the account
less than today with the money in this account
do not know; refuse to answer.

3.  Do you think that the following statement is true or false? “Buying a single company stock usually provides a safer return than a stock mutual fund.”

true
false
do not know

Speak Your Mind

*