Wise Review A And B Question Preview (ID: 16642)
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CD
a) Savings and checking accounts
b) community-focused and offer better interest rates than traditional banks.
c) bears a maturity date, a specified fixed interest rate and can be issued in any denomination.
d) Reconciling a checking account
How long it takes your money to double. $1 invested at 10% would take 7.2 years ((72/10) = 7.2)
a) CD
b) Rule 72
c) exemption
d) Gift cards
interest earned on interest,, Interest earned on both the principal amount and any interest already earned.
a) Money orders
b) Compound Interest
c) Opportunity cost
d) Pay a Penalty
..., an amount you may subtract from your income for each person who depends on your income to live
a) CD
b) exemption
c) Rule 72
d) Gift cards
a bank service that covers a shortage in your account and protects you from bouncing check. But charges a Fee
a) exemption
b) Overdraft protection
c) opt-in regulation
d) Pay a Penalty
money left after paying basic living expenses like food, clothing, shelter
a) Discretionary income
b) Compound Interest
c) Sources of income
d) Opportunity cost
the principle that a dollar received today is worth more than a dollar received in the future
a) Tax refund advances
b) Time value of money
c) At the end of the month
d) Sources of income
what products are liquid
a) At the end of the month
b) Pay a Penalty
c) Savings and checking accounts
d) Reconciling a checking account
Balancing your records with the banks records is called
a) Savings and checking accounts
b) Compound Interest
c) Reconciling a checking account
d) opt-in regulation
CD: what happens if you cash it before maturity
a) Pay a Penalty
b) Gift cards
c) Rule 72
d) Money orders
Putting money in a savings account before paying Bills or Expenses
a) Compound Interest
b) Money orders
c) Pay yourself first
d) Pay a Penalty
a purchased certificate used to pay a specified amount of money to a particular payee
a) Money orders
b) Gift cards
c) Rule 72
d) exemption
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