Descrptive Analysis of Financial Literacy Among Accountancy,

Business and Management Students in

Tanza National Comprehensive High School

Statement of the Problem

This study aims, in general, to determine financial literacy and personal financial

management among senior high students in Tanza National Comprehensive High School.

Specifically, it will seek to answer the following questions:

1. What is the profile of the students in terms of:

1.1 Age;

1.2 Gender; and

1.3 Grade and Strand?

2. What are the pieces of evidence of financial literacy among Senior High School

Students?

2.1 Suppose you have $100 in a savings account earning 2%interest a year. After five years, how

much would you have?

a. More than $102 c. Exactly $102

b. Less than $102 d. Don’t know

2.2 Imagine that the internet rate on your savings account is 1% a year and inflation is 2% a

year. After one year, would the money in the account buy more than it does today, exactly the

same or less than today?

a. More c. Same

b. Don’t know d. Less

2.3 If the interest rate rises. What will typically happen to bond prices?

a. Rise c. Stay the same

b. Fall d. Don’t know

2.4 Imagine that the interest rate on your savings account is 1 percent a year and inflation is 2

percent a year. After one year, would the money in the account buy more than it does today,

exactly the same or less than today?

a. More b. Same c. Less d. Dont know

2.5 A 15-year mortgage typically requires higher monthly payments than a 30-year mortgage but

the total interest over the life of the loan will be less.

a. True b. False c. Somewhat True d. Somewhat False

2.6 Buying a single company's stock usually provides a safer return than a stock mutual fund.

a. True b. False c. Somewhat True d. Don’t know

2.7 Suppose you owe $1,000 on a loan and the interest rate you are charged is 20% per year

compounded annually. If you didn't pay anything off, at this interest rate, how many years would

it take for the amount you owe to double?

a. Less than 2 years

b. b. 2 to 4 years

c. c. 5 to 9 years

d. d. 10 or more years
 3. How often do students discuss financial matters with their parents, relatives, or

guardians in terms of:

Description Always Often Sometimes Never

Spending Decision

Saving Decision

Personal Budgeting

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