Fees Fees Fees
Random Saving
Compound Interest
Take a Risk
100
This is the name of the fee charged if you withdraw money from your savings account using an ATM that is not your banks'.
What is an out of network ATM fee
100
Name a strategy that helps ensure you are saving your money?
Pay Yourself first
50/30/20 rule?
100
As the interest rate and the compound frequency increases, the total value _______________.
What is increases?
100
What type of savings account requires you to leave your deposit in the account for a certain period of time?
What is Certificate of Deposit
200
This is the fee charged if your account balance falls below $0 after a purchase?
What is an overdraft fee?
200
What does the 20% represent in the 50/30/20 rule?
What is savings?
200
What is the total balance of an $18,000 deposit at 9% compounded annually for 6 years
$30,187.80
200
What does a MM account stand for?
What is a Money Market account?
300
This is the monthly service fee charged in the savings account once the balance falls below the required maintaining balance.
What is a monthly maintenance fee?
300
How much money is recommended to keep in your emergency fund?
What is 3 - 6 months?
300
What is the total balance with a principal of $1,030 at 4% compounded quarterly for 2 years?
$1,115.34
300
A savings account that is done primarily online and has little to no brick and mortar locations?
What is an Online Savings Account?
400
You will be charged an excessive transaction fee from your savings account if you withdraw money this amount of times?
What is 3 - 6?
400
DAILY DOUBLE
Give two examples of when you should use your emergency funds.
Unexpected loss of job, car accident, emergency/urgent care fee, family emergency.
400
What is the total balance with a principal of $1,240 at 8% compounded annually for 2 years?
What is $1,446.34
400
How can a customer avoid getting a monthly service charge on savings account?
Maintaining the minimum balance
Depositing money regularly
Linking the account to your checking account
Do not withdraw more than the 4 or more times in a monthly cycle
500
This is the fee charged on your account if you move money quickly via the internet without exchanged cash?
What is a wire transfer fee?
500
This is a time deposit account where funds are invested for a fixed period and interest rate. This account is available in terms of 30 days to 365 days or 12 months to 60+ months, and Government regulated penalty applies for early withdrawal
Certificate of Deposit
500
In the equation for compound interest, what does the r represent?
What is the interest rate or the APY?
500
DAILY DOUBLE
What is the difference between a bank and a credit union?
What is that banks are for profit and usually take from customers while credit unions are not for profit and give to their customers. Credit unions guarantee better rates and distribute profits amongst their customers.