Which of these is a characteristic of certificates of deposit (CDs)?
answer
They last for a set period of time.
question
In which situation would a savings bond be the best investment to earn interest?
answer
saving for home remodeling in six years
question
What is one benefit of purchasing saving bonds?
answer
no Saving bonds are long term investments created to help first time home buyers obtain a mortgage.
question
Where do banks get money to lend to borrowers?
answer
depositors
question
This is a table that could be used to maintain a record of account transactions. It is similar to what is found in a checkbook ledger. Some of its column headings are missing. How should these columns be labeled?
answer
no Description, Check Number, Balance
question
Which of these is the best reason for Nina to maintain up-to-date and accurate records of her bank accounts?
answer
to know how much money she has for budgeting
question
What is the best reason for Jacinta to have a savings account in addition to a checking account?
answer
no A savings account protects her money from overdraft fees.
question
Why is a bank a safe place to put money?
answer
The Federal Deposit Insurance Corporation (FDIC) insures depositors' money.
question
Many checking accounts offer multiple ways of accessing money in addition to checks. Which of these can be used to access money in a checking account?
answer
debit card
question
When Seb reconciles his accounts, what is the first step he should take?
answer
Confirm his records are accurate and include all transactions.
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