Saving And Debt

Question 1

What is interest

Answer 1

Money you get paid on the percentage of the amount in your account to make is worth more

Question 2

Why do businesses need b bank accounts

Answer 2

So they can easily deposit or withdraw money

Question 3

Bring calculator to exam

Answer 3

1⃣2⃣3⃣
4⃣5⃣6⃣
7⃣8⃣9⃣

Question 4

What is debt

Answer 4

Money people owe

Question 5

How is debt created

Answer 5

When people want to buy something but can’t afford to pay it in cash so they borrow money to get the money they need

Question 6

How much time by law do you have to pay back on credit

Answer 6

6 moths

Question 7

What is buying on credit

Answer 7

Buying things without having to pay for them immediately

Example do in real life

Question 8

Do you have to pay bank fees when you owe debt

Answer 8

Yes

Question 9

What is good debt

Answer 9

Getting into debt for a good reason

Like supporting your business but not for personal reasons

Question 10

What is getting into debt

Answer 10

When can’t pay back the money you owe

Question 11

What is saving

Answer 11

Is money that is put away for something in the future