Savings Account

What are 2 reasons to keep your money in a bank?

• Its safe

  (will not be lost, stolen, or thrown out)

• Gains interest

• So you don't have to pay penalties

Does a money market account pay more or less interest than a regular savings account?

• More

• Less

What is a CD in terms of savings accounts?

• Compact Disc

• Certificate of Deposit

• Certified Directory

All banks have the same types of savings accounts

• True

• False

With a savings account, you will have a statement of deposits and withdraws.

• True

• False

When you save your money in a CD account, you leave it there for a certain period of time.

• True

• False

What type of savings account requires a certain amount of money to keep the account open?

• Regular savings account

• Money Market account

• Certificate of Deposit

What are the two main differences between savings and checking accounts?

• Access and Interest

• Location and availability

• Cost and options

What is interest calculated in?

• Annual Percentage Yield (%)

• Dollars earned ($)

• Decimals (.)

What type of account gives you a debit card?

• Savings Account

• Checking Account

• Money Market Account