I am studying for my final and I need to know the answers to these questions. Thanks for any help you can provide!
QUESTION1:
What is NOT true of a money market account?
a. The interest rates are usually fixed.
b. You can usually write checks.
c. Interest rates are usually higher than regular savings accounts.
d. You usually need a larger initial deposit.
QUESTION2:
Certificates of Deposit differ in 3 ways. Which is NOT usually one of them?
a. The amount of Interest that is paid.
b. A difference in the amount of FDIC or NCUA insurance.
c. Amount of money you deposit.
d. Time they must be held before withdrawal.
QUESTION3:
A common benefit of "home ownership" is:
a. You save money on sales tax.
b. Your home equity does not grow.
c. You may often claim a Federal Income Tax deduction on the interest.
d. Houses tend to depreciate in value so you pay less in taxes.
QUESTION4:
Paying less each month on a credit card
a. Increases your interest rate.
b. Decreases your overall interest paid.
c. Increases your overall interest paid.
d. Decreases your interest rate.
QUESTION1:
What is NOT true of a money market account?
a. The interest rates are usually fixed.
b. You can usually write checks.
c. Interest rates are usually higher than regular savings accounts.
d. You usually need a larger initial deposit.
QUESTION2:
Certificates of Deposit differ in 3 ways. Which is NOT usually one of them?
a. The amount of Interest that is paid.
b. A difference in the amount of FDIC or NCUA insurance.
c. Amount of money you deposit.
d. Time they must be held before withdrawal.
QUESTION3:
A common benefit of "home ownership" is:
a. You save money on sales tax.
b. Your home equity does not grow.
c. You may often claim a Federal Income Tax deduction on the interest.
d. Houses tend to depreciate in value so you pay less in taxes.
QUESTION4:
Paying less each month on a credit card
a. Increases your interest rate.
b. Decreases your overall interest paid.
c. Increases your overall interest paid.
d. Decreases your interest rate.