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Which of the following savings vehicles usually requires a high minimum balance?
the amount owed for borrowing money
Certificate of Deposit (CD)
Put aside money for savings each month
Certificate of Deposit (CD)
Both A B
Compounding daily
compound; highest
Both A B
Which of the following is a type of savings vehicle?
the amount owed for borrowing money
Certificate of Deposit (CD)
Put aside money for savings each month
Certificate of Deposit (CD)
Both A B
Compounding daily
compound; highest
Both A B
When it comes to saving money, what is a good rule of thumb?
the amount owed for borrowing money
Certificate of Deposit (CD)
Put aside money for savings each month
Certificate of Deposit (CD)
Both A B
Compounding daily
compound; highest
Both A B
To earn as much interest as possible, you should open a savings account that earns _______ interest and has the ______ interest rate.
the amount owed for borrowing money
Certificate of Deposit (CD)
Put aside money for savings each month
Certificate of Deposit (CD)
Both A B
Compounding daily
compound; highest
Both A B
You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money?
the amount owed for borrowing money
Certificate of Deposit (CD)
Put aside money for savings each month
Certificate of Deposit (CD)
Both A B
Compounding daily
compound; highest
Both A B
Which of the following accounts will give you the LEAST access to your money
the amount owed for borrowing money
Certificate of Deposit (CD)
Put aside money for savings each month
Certificate of Deposit (CD)
Both A B
Compounding daily
compound; highest
Both A B
Interest is:
the amount owed for borrowing money
Certificate of Deposit (CD)
Put aside money for savings each month
Certificate of Deposit (CD)
Both A B
Compounding daily
compound; highest
Both A B
John just opened a savings account and wants to maximize the amount of interest he earns. Which of the following actions would enable him to earn MORE interest
the amount owed for borrowing money
Certificate of Deposit (CD)
Put aside money for savings each month
Certificate of Deposit (CD)
Both A B
Compounding daily
compound; highest
Both A B
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