Everfi module 1-9 100% Correct Answers Verified Latest 2024 Version
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Institution
TOP CERTIFIES
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, certificat...
fees and interest - ✔✔you have to pay fees if your credit card bill isn't paid on time and you have to pay
the money loaned back plus interest
three major credit bureaus in the United States - ✔✔Experian, Transunion, Equifax
what is a credit score - ✔✔represents how likely you are to pay back your debts
5 components of credit score - ✔✔payment history, amounts owed, length of credit history, new credit,
types of credit used
hard inquiry - ✔✔occurs when someone checks your credit history to make a lending decision, it affects
your credit score
soft inquiry - ✔✔occurs when someone runs a background check on your credit, does not affect your
credit score
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