If You Had a Savings Account at a Bank, Which

question 237

Multiple Choice

If you had a savings account at a bank, which of the following would be correct concerning the interest that you would earn on this account?

• A) Sales tax may be charged on the interest that you earn
• B) You cannot earn interest until you pass your 18th birthday
• C) Earnings from savings account interest may not be taxed
• D) Income tax may be charged on the interest if your income is high enough

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Definitions:

Disadvantaged Young

Youths who face social, economic, or educational barriers that may hinder their development or opportunities.

Head Start

A program in the United States that provides comprehensive early childhood education, health, nutrition, and parent involvement services to low-income children and their families.

Academically Oriented

Pertains to a focus or inclination towards academic studies and scholarly activities.

Literate

Having the ability to read and write, or being knowledgeable in a specific area or field.