Banking
What is a Bank Statement?
Adding money to an account
What is a deposit?
A Fan of Tim Cook, Warren Buffett had close to 40% of Berkshire Hathaway's holdings in this company in 2022.
What is Apple?
This account that uses your own money for daily purchases.
What is a checking account?
The Illegal act of not paying taxes
What is Tax Evasion
A non-profit membership organization that offers checking accounts, savings accounts, and loans.
A plan for how to use money
This word with a "solid" center is an industry's phase when many companies become few: Carmaking around 1910, cannabis today
What is consolidation?
This account is used to set aside money for a future use.
What is a Savings Account
The form that shows how much was earned, how it was earned, and how much was withheld
What is Form W-2
This fee often occurs when a transaction brings your account into the negatives.
A sum of money paid regularly by a company to its shareholders
What is a dividend?
In the longevity type of this offering from an insurance company, the income doesn't start until you hit a specified age
What is an annuity?
This account often features a high APR (Annual Percentage Yield)
What is a High Yields Saving Account
This form shows tuition, scholarships, and related educational expenses.
What is Form 1098-T
These financial institution charges much higher interest rates on loans than banks or credit unions.
What are Consumer Finance Companies (Klarna, Afterpay, Affirm)
A way to describe how easy/hard monetary assets can be accessed
What is liquidity?
Released in 2015, it became the NO. 2 cryptocurrency in market capitalization, after Bitcoin
What is Ethereum
This account has penalties for withdrawing money before they mature
What is a CD (Certificate of Deposit)?
A transaction that triggers a taxable event, such as selling an asset, earning income, or receiving a dividend
What is a Taxable Event
A 25-year loan is being repaid with annual payments of $1300 at an annual effective rate of interest of 7%. The borrower pays an additional $2600 at the time of the 5th payment and wants to repay the remaining balance over 15 years. Calculate the revised annual payment.
$1,226.65
The federal act that takes out paycheck deductions on Social Security
What is FICA: The Federal Insurance Contributions Act
To earn trust, many investment companies make it front and center that they're this type of advisor obligated to act in a clients interest.
What is a fiduciary
This account features a short-term - less than one year -, high-liquidity, and low-risk debt securities.
What is a Money Market
This president started collecting federal taxes
Who is President Lincoln?