Which option lists the savings tools in order from the MOST liquid to the LEAST liquid

Checking, savings, money market, certificate of deposit

Money market. savings account, checking account, certificate of deposit

Certificate of deposit, money market, savings, checking

Checking, certificate of deposit, money market, savings

Which option lists the savings tools in order from the HIGHEST interest rate to the LOWEST interest rate.

Certificate of deposit, money market, savings, checking

Money market. savings account, checking account, certificate of deposit

Checking, savings, money market, certificate of deposit

Checking, certificate of deposit, money market, savings

How quickly and easily an asset can be converted into cash

Businesses that provide financial services

Insured if the account is within coverage limits

In relation to the other options, how liquid is a savings account?

More liquid than a Certificate of Deposit

More liquid than a checking account

It is important to understand features of savings tools to determine the savings tool ______________.

Most appropriate for reaching a financial goal

Most appropriate for avoiding a financial goal

Glenn recently graduated from college and accepted his first career position. He received a signing bonus of $1,000 for his new job. He plans to buy a new car in one year and has decided to save that $1,000 to use as a down payment on a new car. Which savings tool would you recommend Glenn utilize and why?

Certificate of Deposit because he can earn a higher interest rate and doesn't need the money for a year

Checking Account because he can quickly access his funds daily and it is the MOST liquid option.

what is the typical relationship between time and interest

Longer time period usually equals higher interest rates

Shorter time period usually equals higher interest rates

Longer time period usually have no effect on interest rates

Shorter time period usually have no effect on interest rates

Savings Tools Quiz

Quiz

•

Other

•

10th - 12th Grade

•

Practice Problem

•

Medium

•

CCSS

HSN.RN.B.3

Standards-aligned

Cassidy Roeglin

Used 17+ times

FREE Resource

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The time length usually ranges from 7 days to 10 years in Checking Accounts.

True

False

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Checking accounts are less liquid than savings accounts but earn higher interest rates.

True

False

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Savings Tools Quiz

24 questions

A depository institution account that is designed to hold money not spent on current consumption.

An account at a depository institution that is used for a fixed period of time and allows restricted access to the funds deposited.

An account at a depository institution that provides an easy method for withdrawing and depositing money.

An account at a depository institution that usually has a minimum balance requirements and tiered interest rates.

Interest rates are tiered on Money Market Deposit Accounts

The time length usually ranges from 7 days to 10 years in Checking Accounts.

Checking accounts are less liquid than savings accounts but earn higher interest rates.

Which option lists the savings tools in order from the MOST liquid to the LEAST liquid

Which option lists the savings tools in order from the HIGHEST interest rate to the LOWEST interest rate.

Michael recently graduated from college and accepted his first career position. He received a signing bonus of $1,000 for his new job. He plans to buy a new car in one year and has decided to save that money to use as a down payment on a new car. Which savings tool would be BEST for Michael to use?

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