Exam (elaborations)
Fool Proof Final Exam Possible questions and answers(100- accuracy, already graded A+)
- Module
- Institution
Fool Proof Final Exam Possible questions and answers(100- accuracy, already graded A+)
[Show more]
Seller
Follow
BRAINBOOSTERS
Reviews received
Content preview
Fool Proof Final Exam Possiblequestions and answers(100%
accuracy, already graded A+)
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 - answer D
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 - answer B
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 - answer B
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 - answer B
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 - answer A
Which of the following is generally true about savings vehicles?
A.) Savings vehicles are only useful for long-term investments.
B.) People should evaluate different forms of savings vehicles based on
their needs.
C.) Savings vehicles are never insured.
D.) All of the above - answer B
Joy is taking out a car loan which she will pay back with interest. Which
option will require her to pay the lowest amount in interest?
A.) Annual Compounding
B.) Monthly Compounding
C.) Daily Compounding
D.) Semi-Annual Compounding - answer A
Which of the following is a type of savings vehicle? A.) Certificate of
Deposit
B.) Money Market Account
C.) Checking Account
D.) Both A & B - answer D
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BRAINBOOSTERS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £12.60. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76800 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now