Savings account that earns the highest interest rate. You must deposit a fixed amount, at a fixed interest rate for a fixed period of time. If you take your money out early you are charged a penalty
What is CD or Certificate of Deposit?
100
Earning interest on your interest.
What is compounding?
100
Write the following as a decimal 25%
What is .25
100
How much interest would be earned on a balance of $3000 with a rate of 2% for 1 year?
What is $60
100
A savings account deposit of $18000 earns interest at 5.4% compounded quarterly. Figure the interest.
What is $243?
200
Figuring compound interest 2 times a year.
What is Semiannually?
200
Balance x Annual Percentage Rate x Time
What is Simple Interest?
200
Write the following as a decimal 5%
What is .05
200
How much interest would be earned on a balance of $10000 with a rate of 5% for 2 years?
What is $1000
200
A savings account deposit of $7900 earns interest at 3.5% compounded quarterly. Figure interest for 2 compounding periods. What is the balance?
What is $8038.86?
300
A bank account that you have in case you lose your job or can't work for some reason.
What is an Emergency Fund?
300
The amount that is currently in your account.
What is balance?
300
Write the following as a decimal 3.3%
What is .033
300
How much interest would be earned on a balance of $30000 with an interest rate of 2.5% for 7 years?
What is $5250
300
A savings account deposit of $1250 earns 5.3% interest compounded semiannually. How much interest will it earn after 1 year?
What is $67.13
400
An amount paid to you by the bank for leaving your money in a savings account.
What is interest?
400
The amount of time that it takes for your account balance to double.
What is Rule of 72?
400
Write the following as a decimal .5%
What is .005
400
What will the new balance be on an account that an original balance of $3000 with a rate of 2% for 1 year?
What is $3060
400
A savings account deposit of $9000 earns 9% interest compounded quarterly, How much interest will the account earn after 1 year?
What is $837.76?
500
A savings account that earns a higher rate than a basic account requires a larger minimum balance and allows you to write a few checks a month.
What is Money Market account?
500
The balance required to open a saving account.
What is the minimum balance.
500
Write the following as a decimal 5 3/4%
What is .0575
500
What will the new balance be on an account the an original balance of 30000 with an interest rate of 2.5% for 7 years?
What is $35250?
500
A savings account deposit of $9000 earns 9% interest compounded semiannually. How much interest will it earn after 1 year?