Economics: Personal Finance 2

Front

The card you use to both access funds in your bank account and pay for goods and services is:

Back

a debit card

Front

Writing a check is the same thing as:

Back

using a debit card

Front

When I use my debit card, the money is almost immediately taken from my account.

Back

true

Front

Another name for an overdraft fee is non-sufficient funds.

Back

true

Front

Which compounding frequency will earn you the MOST money? Options: Compounding 1 time per year, Compounding quarterly, Compounding monthly, Compounding daily

Back

Compounding daily

Front

How do people get trapped in the payday loan cycle?

Back

Customers may visit several payday loan lenders to get $.

Front

If you decide to pawn an item of yours, what happens if you don't come back for your item?

Back

The pawnshop keeps it.

Front

What is a risk of co-signing a loan for a family or friend?

Back

You may be held responsible for the debt

Front

Short‐term loan that provides immediate cash by securing a borrower’s written check or receiving authorization for automatic withdrawal from the borrower’s depository institution account.

Back

Payday loan

Front

Short‐term loan that provides immediate cash by securing a borrower’s written check or receiving authorization for automatic withdrawal from the borrower’s depository institution account.

Back

Payday loan