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understanding Financial Aid | Everfi | Latest 2024/25 | RATED A+

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Everfi module 1-9 question and answer

Which of the following is a primary responsibility of the Federal Reserve Bank? - CORRECT ANSWER Establish monetary policy What's the best strategy for avoiding ATM fees? - CORRECT ANSWER Only use ATMs in your bank's network The best way to ensure the accuracy and safety of your accounts is to: - CORRECT ANSWER Monitor your online accounts regularly What's the purpose of balancing or monitoring your checking account? - CORRECT ANSWER To help you calculate how much m...

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 d...

what is interest - pay extra for the convenience of borrowing money what is compounding frequency - how often your money is compounded what is the rule of 72 - tells you how long it will take for your money to double 3 types of savings vehicles - savings account, money market account, certificate of deposit what is a budget - plan for your money job of the federal reserve system - oversees the nation's system of money and credit parts of the federal reserve system - 12 regional reserve ba...

What is the typical relationship between time and interest rate? a) Longer time period usually equal higher interest rates b) Shorter time period usually equal higher interest rates c) Longer time periods usually have no affect on interest rates d) Shorter time periods usually have no affect on interest rates - a) Longer time period usually equal higher interest rates Interest is: a) a charge for lending money to a bank b) the amount owed for borrowing money c) the amount added into you...