| A | B |
|---|
| Commercial banks offer more services | such debit cards |
| Since Taylor was a young child she has kept her savings in a piggy bank. She likes this method of saving because she can have immediate access to the money if she needs it. Recently | in a class at school |
| Depository institutions have insurance protection for up to $250 | 000 per depositor per account type so if something happened to the money in the bank |
| A commercial bank | since his deposits would be insured by the Federal Deposit Insurance Corporation (FDIC) |
| A credit union | since his deposits would be insured by the National Credit Union Association (NCUA) |
| *He could safely choose either a commercial bank or a credit union | as long as his savings account balance meets the insurance requirements. |
| Check several depository institutions and choose one with a free | no-interest checking account. That way |
| *When earning interest | look for low rates. |
| When paying interest | look for low rates. |
| David made a mistake in his checking account recordkeeping and spent $10 more than he had deposited in his account. As a result | he can expect to be charged a(n): |
| As Mariah was looking over her sales receipt for the shirt she bought at a retail store | she discovered that she was charged 6% more than the price tag showed for the item. What is this extra 6% charge most likely to be? |
| *Property taxes are assessed at the same rate for all types of property | including homes |
| Property tax on homes | land and buildings are usually only paid once or twice each year. |
| Taxes that are charged on consumption items such as gasoline | hotel rooms |
| Maggie earns $62 | 000 per year and has a net worth of $20 |
| Maggie | because her income minus her net worth is a smaller amount than Samantha’s. |
| Samantha | because her income minus her net worth is a larger amount than Maggie’s. |
| *Maggie | because her net worth is higher than Samantha’s. |
| Samantha | because her annual income is higher than Maggie’s. |
| To increase his net worth | Jackson could: |
| Andy is developing an Income and Expense Statement. He has gathered all his receipts | bank statements |
| *Taxes deducted from his paycheck | money saved from his paycheck for emergencies |
| Money saved from his paycheck for emergencies | interest paid on his car loan |
| The scholarship he receives for studying Chinese at the local community college | his car insurance payment |
| Clothing he purchased for a job interview | tuition for a class he is taking at the local community college |
| If expenses were to exceed income on a spending plan | what would be a financially smart solution? |
| When creating a pending plan | it is recommended that you examine your trade-offs and opportunity costs. |
| Cell phone bill | gasoline |
| Internet bill | entertainment |
| motorcycle payment | food |
| *Gasoline | food |
| Decide what income and spending categories would reflect his values | needs |
