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Personal Finance Knowledge Quiz on The One Show this evening

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Offline joo Reading Off The KUF Vol I
05 May 2013, 10:12 PM | Post: #11

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RE: Personal Finance Knowledge Quiz on The One Show this evening

ANSWERS (cut from website)

1.            (£1500 * 0.9) * 0.85 = £1,147.50
 
2.   a)    (£17,465 - £6,475) / 12 =  £915.83
b) (17,465 - £6,475) * 0.22 = £2,417.80
 
3.    Andrew has used 1916 kWh during the quarter (12369-10453 = 1916)
His existing plan would charge (200*£0.327 = £65.40) for the first 200kWh and then (1716*£0.098 = £168.17) for the remaining 1716kWh.  The total would therefore be £65.40 + £168.17 = £233.57
The new plan would charge (91 days * £0.47 = £42.77) in daily standing charges and (1916 * £0.104 = £199.26) for the 1916 kWh used.  The total would therefore be £42.77 + £199.26 = £242.03
So Andrew’s current tariff is cheaper for this quarter – he shouldn’t switch tarriffs.
 
4. Account 1 would pay £1,750 * 0.037 * 4 = £259 over the four years
Account 2 would pay £1,750 * (1.034 ^ 4) = £250.42 over the four years
So Account 1 would give Leonie more interest
 
5.  a) £200 * 0.6% = £1.20, so it will cost Rachel £4 to change her money at the airport
b) The Bureau de Change would give (£200 - £4) * 1.16 = £227.36. 
The Post Office would give £200 * 1.12 = £224.00.
So she should change her money at the Bureau de Change.

 
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Offline joo Reading Off The KUF Vol I
05 May 2013, 10:18 PM | Post: #12

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RE: Personal Finance Knowledge Quiz on The One Show this evening

Yay, I got them all correct.
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