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Getting married? Test your money sense before you say, “I do.”
1. When is the best time to buy a first home?
2. Which of the following things can insurance do for you?
3. Steve and Sue start their RRSPs at age 20 and put in $2,000 each year for 15 years. Rebecca and Ryan start their RRSPs at age 35 and put in $2,000 per year for 30 years. If they both get 6% per year on their investments, which couple will have more money at age 65?
4. What are the three ways of making money from an investment?
5. If you are married, which statement is true?
6. Which of the following is the best place to put money you are saving for a home down payment?
7. Which of these options would cost the least if you are borrowing money for a few months?
8. Which of the following savings accounts gives you the most money after five years?
9. About 30% of Charlie and Mary's pay goes to income taxes and other government deductions. If they borrow $1,000 at 5% interest, roughly how much will they need to earn to pay it off in one year?
10. Serena and Bill have some extra money and want to pay down their debt. Which should they pay down first?
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