Question 13 pts
A dividend is not actually a share of a company's profits.
Group of answer choices

True

False
 
Flag question: Question 2
Question 23 pts
The higher the rate of interest, the less interest your money will earn.
Group of answer choices

True

False
 
Flag question: Question 3
Question 33 pts
There are many compound interest calculators available on the Internet.
Group of answer choices

True

False
 
Flag question: Question 4
Question 43 pts
A credit union is a financial institution that serves all individuals and businesses with a wide variety of accounts, loans, and other financial services.
Group of answer choices

True

False
 
Flag question: Question 5
Question 53 pts
Almost all deposits are insured by a federal government agency.
Group of answer choices

True

False
 
Flag question: Question 6
Question 63 pts
When you save, you trade spending now for the ability to spend in the future.
Group of answer choices

True

False
 
Flag question: Question 7
Question 73 pts
The more often interest is compounded, the less interest you make.
Group of answer choices

True

False
 
Flag question: Question 8
Question 83 pts
The best way to save successfully is to make saving a regular payment from each paycheck.
Group of answer choices

True

False
 
Flag question: Question 9
Question 93 pts
Simple interest is earned on just your principal, not on the interest earned previously.
Group of answer choices

True

False
 
Flag question: Question 10
Question 103 pts
Money market accounts pay higher interest rates than regular savings accounts do.
Group of answer choices

True

False
 
Flag question: Question 11
Question 113 pts
Silas deposited $750 in a savings account that pays 4 percent simple interest. How much money will he have in the account after one year?
Group of answer choices

$780.00

$775.00

$783.75

$738.57
 
Flag question: Question 12
Question 123 pts
Savings accounts are ____.
Group of answer choices

a place in which you can deposit money

a way you can earn interest

all of these answers

offered by any savings institution
 
Flag question: Question 13
Question 133 pts
The dollar value printed on a bond is the ____.
Group of answer choices

term of the bond

number of the bond

face value of the bond

interest of the bond
 
Flag question: Question 14
Question 143 pts
Financial institutions that offer memberships to people who share a common bond, such as people in a particular profession, company, or labor union, are ____.
Group of answer choices

savings and loan associations

commercial banks

credit unions

savings banks
 
Flag question: Question 15
Question 153 pts
Interest that is paid on the principal and on previously earned interest, assuming that the interest is left in the account, is called ____.
Group of answer choices

flexible interest

compound interest

simple interest

interest
 
Flag question: Question 16
Question 163 pts
Lucas and Jewel have a down payment for a home and have found the home they want to purchase. Which type of financial institution specializes in lending money to consumers to buy homes?
Group of answer choices

commercial banks

finance companies

credit unions

savings and loan associations
 
Flag question: Question 17
Question 173 pts
As a real estate agent, Allegra receives monthly commission checks. This month her commission check will be over $5,000. She wants to place the entire $5,000 in a safe investment for six months. Given the amount she has to invest and her preferences, what would be her best choice?
Group of answer choices

a bank draft

a savings bond

a treasury bill

a treasury bond
 
Flag question: Question 18
Question 183 pts
Vikki placed $3,000 in a certificate of deposit for a one-year period of time. At the end of the year, she had earned $150 in interest on her investment. Her original $3,000 is known as ____.
Group of answer choices

yield

face value

principal

interest
 
Flag question: Question 19
Question 193 pts
As a school teacher, Liz can choose to join a financial institution with other school employees that offers her a membership when she deposits her money there or opens a checking account. This type of financial institution is known as a ____.

 

Group of answer choices

commercial bank

credit union

savings bank

savings and loan
 
Flag question: Question 20
Question 203 pts
Jade received a substantial bonus from her employer at the end of the year. She would like to place her bonus in a U.S. government bond that protects her investment from inflation. Which of the following would be the correct choice?

 

Group of answer choices

treasury bills

treasury bonds

. series EE savings bonds

I savings bonds
 
Flag question: Question 21
Question 214 pts
If Maya places her $400 savings in an account that pays her 4 percent interest compounded quarterly, how much interest will she earn on her investment in one year?

 

A= Amount

P= Principal 

r= interest rate 

n= number of times per year interest is compounded 

t= time/years 

Group of answer choices

$64.00

$16.24

$16.00

$4.16
 
Flag question: Question 22
Question 223 pts
If you deposit $200 in an account that pays 6 percent simple interest per year, which of the following would be the balance in your savings account at the end of the first year?

 

Group of answer choices

$250

$210

$212

$206
 
Flag question: Question 23
Question 233 pts
Interest paid annually at the end of the year on the average balance in a savings account is ____.

 

Group of answer choices

fixed interest

consumer interest

simple interest

compound interest
 
Flag question: Question 24
Question 243 pts
If Reilly wants to purchase U.S. government savings bonds, where can he go to purchase them?

 

Group of answer choices

all of these answers

credit union

commercial bank

savings and loan association
 
Flag question: Question 25
Question 253 pts
Coop lives in a city where there are several types of financial institutions from which to choose. He has $5,000 to deposit. He would prefer to own part of the institution where he makes his deposit in order to receive dividends. Which institution matches his preferences?

 

Group of answer choices

commercial bank

savings bank

savings and loan

credit union
 
Flag question: Question 26
Question 264 pts
If interest at 6 percent is compounded annually on Carlos' $500 savings account, which of the following will he have in his account at the end of two years, assuming that he withdraws nothing during the two years?

 

A= Amount

P= Principal 

r= interest rate 

n= number of times per year interest is compounded 

t= time/years 

Group of answer choices

$530.00

$560.00

$561.80

$576.30
 
Flag question: Question 27
Question 273 pts
A written promise to pay a debt by a specified date is called a ____.

a. yield

b. bond

c. bank deposit

d. dividend

Group of answer choices

yield

bond

dividend

bank deposit
 
Flag question: Question 28
Question 283 pts
Marlan has accumulated $500 in his savings account; however, he is earning only 2.25 percent simple interest on his savings. He would like to take all or part of his savings and invest in some type of account that would pay him a higher interest rate. Given the amount he has to invest, which of the following would be his best choice?

 

Group of answer choices

a certificate of deposit

a money market account

a savings bond

U.S. treasury bill
 
Flag question: Question 29
Question 293 pts
Interest can be compounded ____.

 

Group of answer choices

All of these answers

annually

quarterly

daily
 
Flag question: Question 30
Question 303 pts
Which of the following is a not for profit institution? 

 

Group of answer choices

commercial bank

savings banks

credit union

savings and loan association
 
Flag question: Question 31
Question 314 pts
Use the rule of 72 to calculate how many years it will take to double your investment of $5,000 at a rate of 7%. Round your answer no decimal places. 
 
Flag question: Question 32
Question 324 pts
Use the rule of 72 to calculate how many years it will take to double your investment of $5,000 at a rate of 4.75%. Round your answer no decimals. 
 answer every question