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WorksheetsSavings
Total questions: 18
Worksheet time: 11mins
A sum of money paid or charged for the use of money or the borrowing of money is called (a) .
A ____________ is a savings account that holds a fixed amount of money for a fixed period of time such as six months, a year, or more.
regular savings
money market account
certificate of deposit (CD)
checking account
(a) interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest.
The money one has saved, especially through a bank or investment plan; the portion of current income not spend on consumption.
(a)
A(n) (a) fund is money set aside for unanticipated expenses or loss of income. Experts belief one should save 3-6 months worth of spending.
What corporation protects US banks against failure by insuring up to $250,000?
Federal Deposit Insurance Corporation (FDIC)
Franklin Depository Allegiance (FDA)
Federal Insurance Cooperation (FIC)
Freight Distance Illumination Classification (FDIC)
A method of saving whereby you put a fixed amount of income into a savings account before you pay monthly bills or make purchases.
Pay Yourself First
Pay It Forward
Payday
Payroll Deduction
A(n) _______________ is account similar to a traditional savings account but that typically pays higher interest, requires a higher minimum balance, limits withdraws, and may allow check writing
checking account
certificate of deposit
savings account
money market account
The ______________ is the total money you earn in interest over a year, expressed as a percentage of your total balance
average rate of return
annual percentage yield
applied finance refinement
after tax summation
A(n) _________ account is a bank account that earns interest.
code
registration
savings
checking
Which one of these account types requires you keep your money deposited for a fixed amount of time?
Money market account (MMA)
Savings account
Certificate of deposit (CD)
Checking account
Research has shown that the more money you ____________, the _________ you feel.
Savings is the act of putting money or valuables aside for
our parent
Future use
Our school fees
Now use
Money saved in the bank generates ______ for the owners
Funds
deposit
Loan
Interest
Apart from saving money, a customer can also borrow money from the bank in form of _____
Loan
Deposit
Interest
Paper
