
Chapter 11-12 Economics Study Guide
Flashcard
•
Social Studies
•
12th Grade
•
Hard
Wayground Content
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99 questions
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1.
FLASHCARD QUESTION
Front
The Rule of 72 is used to figure out how long money must stay on deposit to triple.
Back
False
2.
FLASHCARD QUESTION
Front
Escheat laws stipulate that dormant accounts be given to the state after a certain period.
Back
True
3.
FLASHCARD QUESTION
Front
True or False. Banks post interest as often as they compound it.
Back
False
4.
FLASHCARD QUESTION
Front
The nominal interest rate of a deposit increases as the frequency of compounding increases.
Back
False
5.
FLASHCARD QUESTION
Front
To attract sizable deposits, financial institutions offer lower nominal interest rates.
Back
False
6.
FLASHCARD QUESTION
Front
The more frequently a bank compounds the interest on an account, the better it is for the depositor.
Back
True
7.
FLASHCARD QUESTION
Front
True or False. It is more important to take note of the nominal interest rate of an account than its effective interest rate.
Back
False
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