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FM U1 L3 Review

Financial Management Unit 1 Lesson 3 Review

QuestionAnswer
Jamie has an account where she can deposit and withdraw money. What type of account is it? Savings Account
Clay has an account where he can write checks, deposit and withdraw money. What type of account is it? Checking Account
Which financial institution typically has the highest interest on personal loans Payday Loans
Which financial institution typically has the lowest interest on personal loans Credit Unions
What do you need in order to reconcile a checking account? Bank statement and check register
Kathleen opened a bank account and she will earn 8% interest at the end of 5 years. What is the interest type? Simple Interest
Joshua opened a bank account and he will earn 6% interest at the end of each month. What is the interest type? Compound Interest
Created by: skjohnson15
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