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Which of the following statements about federal student loans is TRUE? A) The interest rate on your loan will be fixed over time. B) The interest rates on federal loans and private loans are similar. C) You can only get federal student loans if you demonstrate financial need. D) You do not accumulate interest on federal loans. A) The interest rate on your loan will be fixed over time. You are looking for ways to pay for your higher education costs. Which of the following options will requ...

all of the following are true about why it is important to complete the free application for federal student aid (FAFSA) process EXCEPT : it allows you to be eligible for early admission what has the biggest impact on whether a 4 year university is affordable? the amount of financial aid that the university offers a 529 plan can help you save more money than a traditional savings account because... it is a tax free cutting down costs by earning an associate's degree first and then transfe...

Key * = correct answer You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money? A.) Compounding 1 time a year B.) Compounding 4 times a year C.) Compounding monthly D.) Compounding daily* Which of the following accounts will give you the LEAST access to your money? A.) Simple savings account B.) Certificate of Deposit (CD)* C.) Checking account D.) Cash

which of the following is NOT a common feature of a financial institution? access to investment products, investment trading, access to investment advice which of the following statements about check cashing companies is TRUE? they charge high fees which of the following financial institutions typically have the highest fees? check cashing and payday loan companies which of the following statements about check cashing companies is FALSE? they charge low fees which type of bank account ty...

Key * = correct answer You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money? A.) Compounding 1 time a year B.) Compounding 4 times a year C.) Compounding monthly D.) Compounding daily* Which of the following accounts will give you the LEAST access to your money? A.) Simple savings account B.) Certificate of Deposit (CD)* C.) Checking account D.) Cash

which of the following is NOT a common feature of a financial institution? access to investment products, investment trading, access to investment advice which of the following statements about check cashing companies is TRUE? they charge high fees which of the following financial institutions typically have the highest fees? check cashing and payday loan companies which of the following statements about check cashing companies is FALSE? they charge low fees which type of bank account ty...

Which of the following is a primary responsibility of the Federal Reserve Bank? Establish monetary policy Which of the following represent typical account fees: ATM, Service, Minimum balance? All of the above Which type of financial institution typically has membership payments? Credit Union What's the purpose of balancing or monitoring your checking account? To stop identity theft Which type of account will typically have the highest interest rate? Certificate of Deposit (CD) How often...

Paying more than the minimum payment can help you get out of debt faster If you're already in debt, try to avoid missing a credit card payment, as it can lead to additional late fees and even raise your APR The average minimum payment only equals 2 to 3% of your total debt, so making only the minimum payments on your credit card bill may keep you in debt for a long time pay more than the minimum When choosing a credit card, look for annual fees, changes to your APR, and other finance cha...

Paying more than the minimum payment can help you get out of debt faster If you're already in debt, try to avoid missing a credit card payment, as it can lead to additional late fees and even raise your APR The average minimum payment only equals 2 to 3% of your total debt, so making only the minimum payments on your credit card bill may keep you in debt for a long time pay more than the minimum When choosing a credit card, look for annual fees, changes to your APR, and other finance cha...

What is a Money Order? A way to pay up front so the check can't bounce What is a debit card? A card linked directly to your bank account What is a cashier's check? a check that comes directly out of your bank account, usually for a fee What is a credit card? A card that let's you borrow money to make a purchase What is a pre-paid card? Type of credit card preloaded with money so you don't overspend What is a Pay-Day Loan? small amount of money lent at a high rate of interest on the ag...