Everfi Study Guide (right answers) 100% Correct Answers Verified Latest 2024 Version

Use the rule of 72 (72/F=T) to calculate how long it will take for your money to double if it's earning 6% in interest: - It will take 12 years to double. Use the information above to answer the following question: What can you tell about Asim's finances? - She is $25 in debt. What type of interest will most benefit you financially? - Compound interest + a stock. Give examples of types of savings vehicles? (May be more than one) - -Savings account -Money market account -Certificate of deposit Use the above figure to answer the following: The first set of numbers () on the check represents the: - Routing number Use the above figure to answer the following: The set of numbers (101) on the top-right of the check represents the: - Check number Which type of bank account typically offers no interest? - Checking account Which forms of borrowing typically have the highest fees? - Payday lender Which types of payment types typically has the lowest fees or cost to use? - -Debit card -Prepaid -Credit cardThe term referring to the rate of yearly interest fr your credit card is commonly known as: - APR: annual percentage rating Use the Credit Card Disclosure to answer the following: What is the customary APR on purchases after the initial 12 months? - 18.25% Use the Credit Card Disclosure to answer the following: What is the annual fee for this card? - However much they spent + 18.25% of that. Your credit history is tracked by which three groups: - -Equifax -Experion -TransUnion Good credit is usually required for which types of activities? - Buying a house, buying a car, and getting loans. (Big purchases) What type of activities could potentially damage your credit score? - Loan history, not paying your credit card monthly. (not paying them back fully or on time) What form is your employer required to send to you before you file your tax return? - W-4 Isaiah needs to visit the doctor. The cost of the appointment without insurance is $200. Isaiah has an insurance plan through his employer with a $50 monthly premium and $20 co-pay. How much with Isaiah have to pay his doctor? - $20 By what date must federal taxes be filled and sent to the IRS? - April 15th What types of drivers will likely pay the highest auto insurance premiums? - -Young + old -Male -History of causing wrecks -Tickets