7. Your country's employment rate is a micro factor that affects your financial thinking.

True

False

8. One popular spending plan allocates your after-tax dollars as follows: 20% for necessities, 30% for wants, and 50% for early debt repayment, savings, & investment.

True

False

9. If you started with a penny & doubled the amount each day, after 15 days you would have over a million dollars.

True

False

10. Imagine you saved $30,000 when you were 45 years old and invested this money in a retirement fund. Assuming this investment grows at a 7% annual rate of return, you will have approximately $60,000 at 65 years old.

True

False