Question 2 Answer
Imagine the interest rate on your savings account is 1% per year and inflation is 2% per year. After a year, could the money in the account buy:
- Less than the amount today.
- 64% of Americans answered correctly.
Question 3 Answer
True or False: A single company’s stock usually provides a safer return than a stock mutual fund.
- 52% of Americans answered correctly
Who answered all three questions correctly?
- Highest Scoring: Germany at 53%
- United States 30%
- Lowest Scoring: Russia 3%
Source: 2014 State Street Global Financial Literacy Test