Basic Financial Literacy Quiz

[Simpwn]

http://www.usfinancialcapability.org/quiz.php

I saw this on reddit claiming that 2/3s of all Americans couldn't pass a basic financial literacy test. I know this group is diverse and not necessarily all American but the quiz offers some interesting questions. Take the quiz above and see what you can get on it.

When I first started it I thought there'd be no way I'd know what these answers were. Certainly before a bought a house and had a stable job I would've gotten maybe 1 or 2 of them correct. I ended up with a 6/6 but I still don't feel confident in these kinds of topics.

Here is a link to the original article if anyone is interested in reading up about it.
http://time.com/4403643/american-financial-literacy-test-fail/

 

[TIG]

I got all 6 questions right, but I got lucky on the last one. the rest I knew

 

[Euchale]

Got all 6 of them right. Reading this reminds me of a student that I had. Their teacher told them, when calculating interest over several years, just calculate it in year 1 and then multiply it by the number of years you have. Quote:"The real calculation is too difficult".
I showed her both ways on how to do it.