Key * = correct answer
You are opening a savings account that earns compound interest. Which compounding frequency
will earn you the MOST money? A.) Compounding 1 time a year
B.) Compounding 4 times a year
C.) Compounding monthly
D.) Compounding daily*
Which of the following accounts will giv...
You are opening a savings account that earns compound interest. Which compounding frequency
will earn you the MOST money? ✔✔A.) Compounding 1 time a year
B.) Compounding 4 times a year
C.) Compounding monthly
D.) Compounding daily*
Which of the following accounts will give you the LEAST access to your money? ✔✔A.)
Simple savings account
B.) Certificate of Deposit (CD)*
C.) Checking account
D.) Cash
, Tamara has $500 she is looking to save for a class trip. She wants to earn the most possible
interest and will not need access to her money for a full year. Which type of savings account will
be best for Tamara? ✔✔A.) Savings Account
B.) Certificate of Deposit (CD)*
C.) Money Market Account
D.) Checking Account
Interest is: ✔✔A.) a charge for lending money to a bank
B.) the amount owed for borrowing money*
C.) the amount added into your savings when opening a bank account
D.) a charge for the convenience of accessing money stored in your bank account
The purpose of a budget is to: ✔✔A.) help you plan how you will spend the money you earn or
receive.*
B.) stop you from spending too much money.
C.) increase the balance of your savings account
D.) tell you how much you owe the government in taxes
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