Money and Financial Literacy — Answer Key
Part A: Fill in the Blank
Write the missing word or number on each line.
1. Saving $6 weekly toward $48 takes 8 weeks.
Forty-eight divided by six equals eight weeks of consistent saving.
2. If income is $80 and you save 25%, savings equal $20.
One quarter of eighty dollars equals twenty dollars in weekly savings.
3. Borrowing $50 and repaying $55 adds $5 in interest.
Fifty-five minus fifty equals five dollars added in interest charges.
4. Saving $50 yourself avoids paying any interest.
When you save your own money, you skip paying any interest costs.
5. Half of a $30 allowance saved equals $15.
Half of thirty dollars equals fifteen dollars saved from each allowance.
6. Saving $10 weekly for 5 weeks gives $50.
Ten dollars times five weeks equals fifty dollars in total savings.
7. If a loan principal is $40 and interest is $4, total owed is $44.
Forty plus four equals forty-four dollars total owed back together.
8. Saving 25% of $20 leaves $15 to spend.
Twenty minus five dollars leaves fifteen dollars available to spend.
9. Saving $7 weekly toward $42 takes 6 weeks.
Forty-two divided by seven equals six weeks of patient saving.
Part B: Matching
Match each item on the left to the correct answer on the right.
1. Match each item to its correct answer.
Principal
→ Original amount borrowed or saved
Original amount borrowed or saved
Interest
→ Extra money earned or paid over time
Extra money earned or paid over time
Deposit
→ Money added into an account
Money added into an account
Withdrawal
→ Money removed from an account
Money removed from an account
Knowing principal, interest, deposit, and withdrawal helps you read any bank account statement.