FutureSmart - Growing a Business

Which of the following is NOT a benefit of putting money in a savings account?

• you can make frequent withdrawals

• you can earn interest

• it's harder to spend the money

• the money is safe and secure

Tags

CCSS.5.NF.B.3

Jack wants to open a savings account. Which account will grow his money the most?

• interest rate 2%, compounded daily

• interest rate 1%, compounded daily

• interest rate 2%, compounded semi-annually

• interest rate 1%, compounded annually

Revenue is:

• the amount of money a company pays its employees

• the amount of money a company has left after paying bills

• the amount of money a company makes from sales

• the amount of taxes a company has to pay

The average price of a gallon of milk increased from $3 last year to $3.50 this year. This is most likely due to

• inflation

• the stock market

• deflation

• the market basket

Tags

CCSS.7.RP.A.3

Which interest-bearing account is best for people who won't need access to their money for more than a year?

• savings account

• checking account

• certificate of deposit

• credit card

Why would you put money into a savings account?

• to make frequent withdrawals at ATMs

• to earn interest on your money

• to access money from this account with personal checks

• to easily access money from this account with a debit card

What is the first step you should take when you want to open a savings account?

• go to the bank and fill out an application

• review the different account options that your bank offers

• present your photo ID to the bank representative

• make your initial deposit

A loss is when:

• revenue is greater than expenses

• revenue is less than expenses

• revenue is equal to expenses

• none of the answers are correct

Your sister is looking for a way to increase the amount of interest she is earning on her savings account. What should she do?

• use the money from her savings account to open a checking account instead

• make monthly withdrawals from her savings account

• switch to a savings account with a lower interest rate

• deposit money into her savings each month

What is required when opening a checking account

• initial deposit

• salary

• credit card

• copy of your last paycheck