Everfi 1-5 Exam | 100% Correct Answers | Verified | Latest 2024 Version

The purpose of a budget is to help you plan what? - how you will spend the money you earn or receive. What kind of bank account will help you most financially? - a saving account that compounds daily will benefit you most financially. What accounts are saving vehicles? - savings accounts, money market accounts and certificates of deposit. The rule of 72 is used to determine what? - the number of year it will take for an investment to double in value at a given interest rate. To earn as much interest as possible you should what? - open a savings account that earns compound interest and has the highest interest rate. A certificate will give you the____ access to your money - least What accounts typically offer no interest? - Checking accounts A payday lender typically have the ___ interest rates - highest