The Jump$tart Coalition for Personal Financial Literacy tests 12th graders' money knowledge every couple years, and the average score is typically about 52 percent. US News & World Report shared some sample questions from the last survey done in 2006 and I've reproduced them here for you to test your knowledge — are you smarter than a 12th grader?
Are You Smarter Than a 12th Grader?
Matt and Eric have good credit history. They work at the same company and make approximately the same salary. Matt has borrowed $6,000 to take a foreign vacation. Eric has borrowed $6,000 to buy a car. Who will pay a lower finance charge?