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Interest can be compounded
an original deposit of money
False
False
True
All of the above
all of the above
True
True
Money in a savings account using compound interest will grow faster than money in an account that uses simple interest.
an original deposit of money
False
False
True
All of the above
all of the above
True
True
When comparing financial institutions offering savings accounts, you should read about
an original deposit of money
False
False
True
All of the above
all of the above
True
True
Simple interest includes the multiplication of the APY by the principal and interest.
an original deposit of money
False
False
True
All of the above
all of the above
True
True
The Rule of 72 can calculate the amount of interest needed to reach a financial goal in a set number of years.
an original deposit of money
False
False
True
All of the above
all of the above
True
True
When it comes to a savings account, the principal is
an original deposit of money
False
False
True
All of the above
all of the above
True
True
All financial institutions have the same features for all of their savings accounts.
an original deposit of money
False
False
True
All of the above
all of the above
True
True
The Rule of 72 uses for its calculation the number 72, the term of investment, and the annual interest rate.
an original deposit of money
False
False
True
All of the above
all of the above
True
True
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