Oklahoma Bankers Association
OBA News and Information
Linked In Email News

Time magazine: Nearly two-thirds of Americans cannnot pass basic test of financial literacy

Time magazine recently reported on a study that showed that nearly two-thirds of Americans can't calculate interest payments correctly and a third said they didn't even know how.

The study, released earlier this month, showed only 42 percent of Americans could pass a basic financial literacy test, which would include questions such as calculating interest.

The study was done by the FINRA Foundation, which surveyed more than 27,000 Americans last year. FINRA is an organization that regulates brokers and Wall Street.

To read the entire Time magazine article, click here.

Back to top