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1) Explain the differences between, saving, checking, and
2) Give a scenario for which you, a high school senior might use a certificate of deposit (CD). What are the risks/rewards of using a CD?
3) Who insures bank customers money in case of an economic collapse, and for how much?
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- 1. Credit reports: A. Only report credit history under your current name B. Only report payments that were made on time C. Can only be secured without your permission D. Show any liens, foreclosures, or bankruptcies 2. Investments: A. Are the same as savings B. Should be a priority when receiving a paycheck C. Both Are the same as savings and Should be a priority when receiving a paycheck D. None of these 3. An example of a personal asset is a: A. Job B. Paycheck C. Car D. All of these E. None of theseSuppose that you never carry cash. Your paycheck of $1,000 per month is deposited directly into your checking account, and you spend your money at a constant rate so that at the end of each month your checking account balance is zero. a.What is your average money balance during the pay period? b.How would each of the following changes affect your average monthly balance? i.You are paid $500 twice monthly rather than $1,000 each month. ii.You are uncertain about your total spending each month. iii.You spend a lot in the beginning of the month (e.g., for rent) and little at the end of the month. iv.Your monthly income increases.Explain in no more than 5 sentences. Why is there is a need to follow certain financial precautions when writing cheques?
- 16. A debit card differs from a credit card in that Question 16 options: a) a credit card is a loan while for a debit card purchase, payment is made immediately. b) a debit card is a loan while for a credit card purchase, payment is made immediately. c) a debit card is a long-term loan while a credit card is a short-term loan. d) a credit card is a long-term loan while a debit card is a short-term loan.What factors influence your decision of where to put your money? a. How do you want to receive advice from the financial institution that holds your money? What advice topics would you prefer to receive in a format that lets you read/review on your own? (ex. email, newsletter, guides, etc.) What advice topics are specific to you where you'd rather interact with a real person?Bank does not provide this service: a. ATM b. online banking c. debit card insurance d. credit card insurance e. overdraft protection What are the reasons to save? a. future Purchases b. Emergencies c. Future Investments d. Compounding e. All of the above
- iv. The U.S. already has several ways to make digital transactions, for example, credit/debit cards, Venmo, Zelle, PayPal, and so on. How would a digital currency increase efficiency?Financial intermediaries a.reduce the cost of financial transactions. b.provide safety of resources only for the large borrowing customers who can afford it. c.increase the cost of financial transactions but offset these higher costs by providing safekeeping of customer funds. d.provide handling of payments but usually less efficiently than other firms.Example scenarios of five forms of money
- Explain 3 reasons why opening a checking account would benefit you?An advantage that money has over other assets is that it: a. Provides a higher return to the owner b. Is a safer asset to hold during times of inflation c. Increases in value over time d. Has lower transaction costs to use as a means of payment than other assets1. find and cite two recent articles in a magazine or newspaper or on a website about bitcoin and in your own words post two thoughts about what you learned and understood about bitcoin from those articles 2. Do you think bitcoin is money? If yes, why? If not, why not? Think about what makes anything money 3. respond to at least one of your colleagues' posts in a thoughtful, productive way 4. refer to the rubric posted below to understand how the posts are graded