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To determine the time value of depositing $100 in a savings account, a person needs to know the interest rate and
A long-term, fixed rate certificate of deposit
Interest rate expressed as a percentage
Credit unions
Notify the lending institution about state usury laws.
the rate of inflation.
The time value of money
Finance charge
The annual percentage rate (APR), and/or the finance charge
Which type of financial institution usually pays the highest rate of interest on savings account balances?
A long-term, fixed rate certificate of deposit
Interest rate expressed as a percentage
Credit unions
Notify the lending institution about state usury laws.
the rate of inflation.
The time value of money
Finance charge
The annual percentage rate (APR), and/or the finance charge
The amount a lender charges to borrow money is called the:
A long-term, fixed rate certificate of deposit
Interest rate expressed as a percentage
Credit unions
Notify the lending institution about state usury laws.
the rate of inflation.
The time value of money
Finance charge
The annual percentage rate (APR), and/or the 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:
A long-term, fixed rate certificate of deposit
Interest rate expressed as a percentage
Credit unions
Notify the lending institution about state usury laws.
the rate of inflation.
The time value of money
Finance charge
The annual percentage rate (APR), and/or the finance charge
Money received today is worth more than the same amount of money received sometime in the future is:
A long-term, fixed rate certificate of deposit
Interest rate expressed as a percentage
Credit unions
Notify the lending institution about state usury laws.
the rate of inflation.
The time value of money
Finance charge
The annual percentage rate (APR), and/or the finance charge
The information that a lender must disclose to consumers applying for a cash loan is
A long-term, fixed rate certificate of deposit
Interest rate expressed as a percentage
Credit unions
Notify the lending institution about state usury laws.
the rate of inflation.
The time value of money
Finance charge
The annual percentage rate (APR), and/or the 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?
A long-term, fixed rate certificate of deposit
Interest rate expressed as a percentage
Credit unions
Notify the lending institution about state usury laws.
the rate of inflation.
The time value of money
Finance charge
The annual percentage rate (APR), and/or the finance charge
The cost to use someone else's money for a period of time is called the:
A long-term, fixed rate certificate of deposit
Interest rate expressed as a percentage
Credit unions
Notify the lending institution about state usury laws.
the rate of inflation.
The time value of money
Finance charge
The annual percentage rate (APR), and/or the finance charge
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