Banking

Banking

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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41 questions

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1.

FLASHCARD QUESTION

Front

Interest

Back

The incentive to part with money, either earned in a bank account or paid for a loan.

2.

FLASHCARD QUESTION

Front

Interest

Back

The incentive to part with money, either earned in a bank account or paid for a loan.

3.

FLASHCARD QUESTION

Front

Simple interest

Back

Interest earned solely on the principal deposited.

4.

FLASHCARD QUESTION

Front

Compound interest

Back

Interest earned on the principal deposited and the interest previously earned.

5.

FLASHCARD QUESTION

Front

Rule of 72

Back

How long it takes for your money to double at a given interest rate.

6.

FLASHCARD QUESTION

Front

A basic savings account. May require a minimum balance. Pays the lowest interest of the three types of savings accounts.

Back

(Passbook) savings

7.

FLASHCARD QUESTION

Front

Pays higher interest than a basic savings account. Usually requires a higher minimum balance. Has higher interest rates. Usually a limit on the # of withdrawals.

Back

Money Market Account

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