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The amount a lender charges to borrow money is called the:
the rate of inflation.
The time value of money
Credit unions
Calculate how fast your savings will double in value at given interest rates
2%
Notify the lending institution about state usury laws.
A long-term, fixed rate certificate of deposit
Finance charge
If a person has $1,000 in a savings account and earns $20 a year in interest on that account, the rate of return on the money is close to
the rate of inflation.
The time value of money
Credit unions
Calculate how fast your savings will double in value at given interest rates
2%
Notify the lending institution about state usury laws.
A long-term, fixed rate certificate of deposit
Finance charge
The Rule of 72 is an easy way to:
the rate of inflation.
The time value of money
Credit unions
Calculate how fast your savings will double in value at given interest rates
2%
Notify the lending institution about state usury laws.
A long-term, fixed rate certificate of deposit
Finance charge
Money received today is worth more than the same amount of money received sometime in the future is:
the rate of inflation.
The time value of money
Credit unions
Calculate how fast your savings will double in value at given interest rates
2%
Notify the lending institution about state usury laws.
A long-term, fixed rate certificate of deposit
Finance charge
Lamar believes that interest rates are going to fall in the near future and remain low for a considerable period of time. She should invest in:
the rate of inflation.
The time value of money
Credit unions
Calculate how fast your savings will double in value at given interest rates
2%
Notify the lending institution about state usury laws.
A long-term, fixed rate certificate of deposit
Finance charge
What should a person do when he believes he is being charged too high a rate of interest for a loan by a lending institution?
the rate of inflation.
The time value of money
Credit unions
Calculate how fast your savings will double in value at given interest rates
2%
Notify the lending institution about state usury laws.
A long-term, fixed rate certificate of deposit
Finance charge
To determine the time value of depositing $100 in a savings account, a person needs to know the interest rate and
the rate of inflation.
The time value of money
Credit unions
Calculate how fast your savings will double in value at given interest rates
2%
Notify the lending institution about state usury laws.
A long-term, fixed rate certificate of deposit
Finance charge
Which type of financial institution usually pays the highest rate of interest on savings account balances?
the rate of inflation.
The time value of money
Credit unions
Calculate how fast your savings will double in value at given interest rates
2%
Notify the lending institution about state usury laws.
A long-term, fixed rate certificate of deposit
Finance charge
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