The Rule of 72
Saving
Credit
Banks
Interest
100

If Michael has 18% interest on his credit card, how long it will take it his money to double?

What is 4 years?

100

What is saving?

What is the income you put away?

100

Money that you pay off later

What is credit?

100

Protects the funds of banks and savings accounts

What is the FDIC?

100

Quick and easy method of calculating the interest charge on a loan

What is a simple interest?

200

If Brian's APR was 22% with no payments and fees, how long will it take to double his money?

What is 3.27 years?

200

Where does your money go to when you open a savings account?

What is a bank?

200

When you pay off your credit

What is the end of the month?
200

Checking accounts, savings accounts, money market deposit accounts, and certificate deposits

What are the four things that the FDIC protects?

200

The addition of interest to the principal sum of a loan or deposit

What is compound interest?

300

If you invested $3000 into a common stock and you earned 6% interest annually, how many times will your money 36 years later?

What is 12 times?

300

How many different types of savings accounts are there?

What is seven?

300

The different kinds of credit cards

What is installment, revolving, charge, and service?

300

$250,000

What is the standard insurance amount per depositor from the FDIC?

300

Based on the principal amount of a loan or deposit, while the other is based on the principal amount and the interest that accumulates on it in every period

What is the difference between simple and compound interest?

400

How many times will a $50,000 investment that earns 5.54% interest double after 39 years?

What is 3 times?
400

The return you receive from a bank after putting it into a savings account

What is interest?

400

The calculated score of your ability to pay off your credit

What is credit score?

400

A nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates

What is a credit union?

400

P×i×n

What is the formula for simple interest?

500

For a small company stock, if it takes 6 years to double their money, how much interest is there?

What is 12.6%?

500

Requires a higher minimum balance, pays more interest than other bank accounts and allows few monthly withdrawals through check-writing privileges or debit card use

What is a money market account?

500

Minimum and maximum credit score

What is 300 to 850?

500
The difference between credit union and banks

What are banks are for-profit institutions, while credit unions are non-profit?

500


What is the formula for compound interest?

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