1. THREE QUESTION TEST: BASICMONEY SMARTS
Justa thirdof the people testedcouldanswerall three questionscorrectlyincluding44percentwith
college degreesand64 percentwithpostgraduate degrees.
Question1.
Suppose youhad$100 in a savingsaccountand the interestrate was2 percentperyear. Afterfive
years,howmuch doyou thinkyouwouldhave inthe account if youleftthe moneytogrow.
-A.more then$102
-B.exactly$102
-C.lessthan$102
-D. donot know/refusetoanswer
Question2.
Imagine the interestonyoursavingsaccountwas1 percentperyearand inflationwas2percentper
year. Afterone year howmuchwouldyoube able to buy withthe moneyinthisaccount.
-A.more than today
-B.Exactlythe same
-C.lessthantoday
-D. donot know/refusetoanswer
Question3.
Please tell me weatherthisstatementistrue orfalse:Buyingasingle companystockusuallyprovidesa
saferreturnthan a stock mutual fund.