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WorksheetsLife Skills Saving and Investing
Total questions: 11
Worksheet time: 12mins
If you save $7 thids week at 5% interest, in 10 years you will have $4743.04.
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false
Which of the following are types of savings accounts?
Flexible Savings Account
Passbook Account
Statement Account
Interest-earning Checking Account
Money Market Deposit Account-What are they and how are they used?
Checking/savings account
Interest rate paid built on a complex structure that varies with size of balance and current level of market interest rates.
Commodities
Can access your money from an ATM, a teller, and can write up to three checks a month.
What is a benefit of a money market savings account?
Immediate access to your money.
Win at the lottery.
Writing as many checks as you want each month.
What are the benefits of CDs?
No risk
Simple
No feeS
Higher interest rates than regular savings accounts
Simple interest is the same as interest compounded yearly.
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The Truth in Savings Act requires financial institutions to disclose the following information:
Fees on deposit accounts
The interest rate
The annual percent yield
Other terms and conditions
What are the three types of bonds?
Cooperate
Manicipal
Federal Government
What are mutual funds?
Professional managed portfolios made up of stocks, bonds, and other mutual funds.
Term savings accounts
Shared checking accounts
What are stocks?
Ownership of a corporation
Stockholders own a share of the company
Stockholder are entitled to share of the profits and vote on how company is run
Stockholders can write as many checks as they need
How can someone use realestate as an investment?
Buy a house, live in it, sell it later for a profit.
Buy an apartment building and rent it.
Buy land and hold onto it until the market rises.
buy lnad or a house and sale it for a loss.
