Everfi savings - Study guides, Class notes & Summaries

EVERFI Module 3 Budgeting Answers Question Answers Which of the following is a benefit of using a budget? All of the above Which of the following is NOT a benefit of using a budget? A budget can help you purchase anything you want. Why is using a budget beneficial? All of the above Which of the following should NOT be considered when setting a current budget? Future income Which of the following should you consider when setting a budget? All of the above What should be considered when ...

EVERFI Module 6 Financing Higher Education Answers Question Answers Making the choice to spend money on post secondary education pays off in the long run because: The salary you will earn with a degree will pay back the cost of college over your career. What are the benefits of attending a local community college? All of the above. Andrew doesn’t want to spend a lot of money on student loans, and does not qualify for grants. What is his best option for affording a Bachelor’s Degree...

Everfi module 1-9 | 100% Correct Answers | Verified | Latest 2024 Version what is interest - pay extra for the convenience of borrowing money what is compounding frequency - how often your money is compounded what is the rule of 72 - tells you how long it will take for your money to double 3 types of savings vehicles - savings account, money market account, certificate of deposit what is a budget - plan for your money job of the federal reserve system - oversees the nation'...

EverFi Financial Final Exam Study Guide 2023 To earn as much interest as possible, you should open a savings account that earns _______ interest and has the ______ interest rate. a. compound; lowest b. compound; highest c. simple; lowest d. simple; highest a. compound; lowest 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 mon...

EverFI Banking Final Quiz Questions and Answers – Latest 2023/2024 (Verified Answers) 100% Correct 1) Which of the following is a primary responsibility of the Federal Reserve Bank?  Establish monetary policy  Pass monetary laws  Collect taxes  Print money 2) Which type of account will typically have the highest interest rate?  Checking Account  Savings Account  Money Market Account  Certificate of Deposit (CD) 3) Which type of financial institution typically has membe...

Everfi Future Smart: Smart Shopping Exam Questions With Solutions Opportunity Cost What you must miss out on or lose when you choose something else. Budget A plan for spending and saving. Priorities The things that are most important to you. Income The money that you get from your job or investments Fixed Expenses Expenses that are the same every month Variable Expenses Expenses that change every month Discretionary Expenses Expenses that you choose, but that you do not have to make. S...

Everfi (Paying For Education) Questions With 100% Correct Answers 2024/2025 When looking to finance higher education, what is the best order to look for funding sources? - answerGrants/Scholarships - Federal Student Loans - Private Loans Which of the following statements about the FAFSA process are TRUE? - answerYou must use the FAFSA to apply for the federal work-study program. If you apply for federal student loans using the FAFSA form, they will fall into what main categories. - answer...

Everfi Study Guide (right answers) 100% Correct Answers | Verified | Latest 2024 Version Use the rule of 72 (72/F=T) to calculate how long it will take for your money to double if it's earning 6% in interest: - It will take 12 years to double. Use the information above to answer the following question: What can you tell about Asim's finances? - She is $25 in debt. What type of interest will most benefit you financially? - Compound interest + a stock. Give examples of types of savi...

Everfi 1-5 Exam | 100% Correct Answers | Verified | Latest 2024 Version The purpose of a budget is to help you plan what? - how you will spend the money you earn or receive. What kind of bank account will help you most financially? - a saving account that compounds daily will benefit you most financially. What accounts are saving vehicles? - savings accounts, money market accounts and certificates of deposit. The rule of 72 is used to determine what? - the number of year it will ...

EVERFI Test correctly answered 2023A savings account that compounds interest daily will earn a higher return than a savings account that pays simple interest daily. - True - False - True Why is it important to reconcile your bank statements? - To avoid spending more than what is in your account. - To detect any errors in your account. - To determine if you were charged any fees. - All of the above - All of the above Which of the following statements about savings acco...