Savings - Chapter 8

Front

When you save, you trade spending now for the ability to spend in the future.

Back

True

Front

A good way to save successfully is to make saving a regular payment from each paycheck.

Back

True

Front

A credit union is a financial institution that serves only businesses with a wide variety of accounts, loans, and other financial services.

Back

False

Front

A dividend is not actually a share of a company's profits.

Back

False

Front

Which of the following specializes in lending to consumers who want to buy homes? commercial banks, credit unions, savings and loan associations, finance companies

Back

savings and loan associations

Front

Money market accounts usually pay higher interest rates than regular savings accounts.

Back

True

Front

The money you deposit in a savings account, CD, or other savings option is called the

Back

principal

Front

Almost all deposits are insured by a federal government agency

Back

True

Front

Simple interest is earned on just your principal, not on the interest earned previously.

Back

True

Front

The more often interest is compounded, the less interest you make.

Back

False