Which savings product requires a person to commit his or her money for the longest period of time? Options: certificate of deposit (CD), interest-bearing savings account, high-yield savings account
Savings Products Flashcard

Flashcard
•
Business
•
11th Grade
•
Hard
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13 questions
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1.
FLASHCARD QUESTION
Front
Back
certificate of deposit (CD)
2.
FLASHCARD QUESTION
Front
You must pay ________________ on the interest earned by your savings.
Back
taxes
3.
FLASHCARD QUESTION
Front
Which of the following strategies will help make your savings grow?
Choose accounts with low interest rates.
Make savings a regular part of your budget.
Make frequent withdrawals.
Back
Make savings a regular part of your budget.
4.
FLASHCARD QUESTION
Front
Which is the best example of a SMART goal (financial)? Options: I will save money for college, I will take out $50 from each paycheck, I will save $1,000 by June of this year, I want to lose weight
Back
I will save $1,000 by June of this year
5.
FLASHCARD QUESTION
Front
The ease of converting an asset into cash without losing value is known as?
Back
liquidity
6.
FLASHCARD QUESTION
Front
_____ interest periods offer more flexibility for depositing and withdrawing money without loss of interest.
Back
Shorter
7.
FLASHCARD QUESTION
Front
You must pay ________________ on the interest earned by your savings.
Back
taxes
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