Show:
SAVINGS ACCOUNT
CD
MMA
INTEREST-ed
BUDGET basics
100
True or False? Someone under the age of 18 can open a savings account only if it is co-owned by a parent or guardian.
What is True? Why should a bank or credit union trust a teenager to handle their money properly?
100
True or False? CD's earn more interest than MMA's.
What is False?
100
Sally wants to save for a payment on a house, her best savings vehicle to use is what?
What is a money market account?
100
I=prt The interest earned with a $750 deposit for 7 years with an APY of 0.05% is what?
What is I=750x.0005x7 I=$2.65
100
A budget is a what?
What is a plan on how to spend your money
200
A better name for interest earned on a savings account is what?
What is simple interest?
200
Ben is opening a CD account and is told by his bank that he can earn monthly compound frequency of .65%, which means what?
What is Ben will earn .65% interest 12 times in a year?
200
True or false? MMA accounts are insured?
What is False? Money Market accounts are not insured.
200
When analyzing weekly compound interest, your interest compounds this many times in a year...
What is 52 times in a year?
200
True or False? Expenses disappear when you budget wisely
What is False? Expenses are everywhere, all the time...you never escape them, never!
300
When opening a savings account one can expect to earn less of what?
What is Interest?
300
DAILY DOUBLE! Beneficiaries are what?
What are people who inherit or derive advantage from things such as life insurance, wills, or trust funds.
300
When opening a MMA, you can expect to see higher what?
What is interest and risk?
300
When interest rate increases these two things come as a result...
What is more risk and higher return?
300
A smart budget consists of budgeting for your __before__.
What is needs before wants
400
True or False? Greg is saving up for a new car, his best savings vehicle option is a savings account.
What is False? Greg should put his money in a CD
400
True or False? CD's are insured
What is True?
400
Two things someone should address before opening a MMA are what?
What are minimum balances and interest?
400
When using the equation I=prt I=48 p=$3,000 r=.02% t is what?
What is 8 years?
400
True or False? How much money you put towards your budget depends mostly on what?
What is income?
500
DAILY DOUBLE! If you are a minor and you have a job and a savings account, the best way for your employer to pay you is through what?
What is Direct deposit?
500
True or False? You can be under 18 and open a CD?
What is True?
500
Would it be wise for Ms. Hopeck to open a MMA to save for a house payment or for retirement?
What is a house payment?
500
If I=prt I=56 p is what r=1.25% t=15
What is $298.66
500
A smart way to save more money when budgeting is to what?
What is stay under your budget?