6.1 Review - Finance

Front

Savings provide money for short-term and long-term needs.​

Back

True

Front

Examples of short-term needs include:​ vacations, major purchases (replacement), repairs, social events, all of them

Back

all of them

Front

Examples of long-term needs include: education, home ownership, retirement, None of the above

Back

All of the above are long-term needs.

Front

Compounding, or interest earned on principal and previous interest, makes money grow faster.​
Options: True, False

Back

True

Front

Do commercial banks, savings banks, savings and loan associates (S&Ls), credit unions, brokerage firms, and online companies offer savings accounts?

Back

True