Save Up Everfi Review
Flashcard
•
Mathematics
•
8th Grade
•
Practice Problem
•
Hard
Wayground Content
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15 questions
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1.
FLASHCARD QUESTION
Front
What is a savings goal?
Back
A savings goal is a specific target amount of money that you aim to save for a particular purpose, such as buying a car or going on vacation.
2.
FLASHCARD QUESTION
Front
Why is it important to set a savings goal?
Back
Setting a savings goal helps you stay focused and motivated to save money, especially for larger purchases or long-term needs.
3.
FLASHCARD QUESTION
Front
What is a savings account?
Back
A savings account is a bank account that allows you to deposit money, earn interest, and withdraw funds while keeping your money safe.
4.
FLASHCARD QUESTION
Front
What are the benefits of having a savings account?
Back
Benefits include earning interest on your savings, having a safe place to store money, and easy access to funds when needed.
5.
FLASHCARD QUESTION
Front
What should you consider when choosing a savings account?
Back
Consider factors like interest rates, fees, minimum balance requirements, and accessibility.
6.
FLASHCARD QUESTION
Front
What is interest in the context of savings accounts?
Back
Interest is the money paid by the bank to you for keeping your money in a savings account, usually expressed as a percentage.
7.
FLASHCARD QUESTION
Front
How can you increase the interest earned on your savings account?
Back
You can increase interest by depositing more money and keeping it in the account for a longer period.
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