Utah financial literacy state final Exam Questions With 100% Verified Answers
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Course
Utah financial literacy
Institution
Utah Financial Literacy
Utah financial literacy state final Exam
Questions With 100% Verified Answers
Time value of money - answerMoney now is worth more than in 20 years
A house payment - answerPrinciple, interest, property taxes, and insurance
compound interest - answerinterest earned on both the principal amount an...
Utah financial literacy state final Exam
Questions With 100% Verified Answers
Time value of money - answer✔Money now is worth more than in 20 years
A house payment - answer✔Principle, interest, property taxes, and insurance
compound interest - answer✔interest earned on both the principal amount and any interest
already earned
Payday Loan - answer✔a relatively small amount of money lent at a high rate of interest on the
agreement that it will be repaid when the borrower receives their next paycheck.
Central Banking System - answer✔A nation's central bank that is established to regulate the
money supply and oversee the nation's banks. In the United States the Federal Reserve is the
central bank.
FAFSA (Free Application for Federal Student Aid) - answer✔The application required for
students to be considered for federal student financial aid.
ammortized loan - answer✔A loan that you "kill" away by paying it back but by bit
Rule of 72 - answer✔The number of years it takes for a certain amount to double in value is
equal to 72 divided by its annual rate of interest.
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