Savings Accounts Answers

Having a savings account can contribute to a person’s overall financial well-being. Which one of the following is NOT a benefit of maintaining a savings account? a.A savings account provides security in tough financial timesb.With a savings account, you can invest when the opportunity presents itselfc.Having a savings account gives individuals the ability to borrow money from members in the communityd.A savings account allows an individual to fulfill life long dreams

Consider the following incomplete deposit ticket: What was the value of the third check Tony deposited? a. $617.60 b. $105.20 c. $31.28 d. $36.76 Please select the best answer from the choices provided

Ruby wants to start her own business taking photographs. She already has her own camera, but needs to purchase lights, a photo printer, and photo paper. If the cost of the photo printer is $251.99, the cost of lighting is $150.00, and the cost for 100 sheets of photo paper is $30.98, determine how much of her savings will be used to start her company, given that she has $840.32 in savings.a.$432.97b.$840.32c.$432.62d.$407.35

Maggie noticed that her financial record is missing information. She recalls that on October 15th, she purchased gasoline in the amount of $32.51 and on October 16th, she and her friends went out for dinner, where she spent $25.62. Given this information, and the image below, determine her balance as of October 26th. a. $112.16 b. $62.03 c. $27.62 d. $2.00 Please select the best answer from the choices provided

Which of the following would be a good reason to place your money into a savings account?a.You can purchase stocks with a savings accountb.A savings account earns interestc.You can write checks with a savings accountd.You can use a debit card to make transactions

Which of the following forms of I.D. is not an acceptable form of I.D. for opening a savings account?a.Library cardb.Driver’s licensec.Passportd.Military I.D. card

Manny has just filled out his deposit ticket for his savings account. He hands it to the teller and the teller hands it back to Manny. The teller explains to Manny that the deposit ticket cannot be accepted in its current form. What must Manny do to the deposit ticket in order for the teller to process the deposit ticket? a. Manny forgot to sign the deposit ticket for less cash back b. The subtotal is calculated incorrectly c. The total is calculated incorrectly d. Manny forgot to date the deposit ticket Please select the best answer from the choices provided

Consider the following incomplete deposit ticket: Which of the following are possible amounts for the third check and the cash that Cindy deposited? a. no cash and a $303.68 check b. $140.50 in cash and a $267.14 check c. $99.32 in cash and a $155.55 check d. $122.04 in cash and a $205.64 check Please select the best answer from the choices provided

Consider the following incomplete deposit ticket where "X" represents an unknown number: How much did Kay deposit in cash and coins? a. $404.57 b. $213.51 c. $93.44 d. $284.50 Please select the best answer from the choices provided

You have decided both to open a savings account and to purchase a vehicle. You would like a savings account with the highest interest rate and a vehicle loan with a low interest rate. You currently have a checking account at Bank A. From the banks listed below, determine with which bank you should open a savings account and at which bank should you apply for your vehicle loan. a. Bank A for the car loan and Bank B for the savings account b. Bank C for the car loan and Bank C for the savings account c. Bank B for the car loan and Bank A for the savings account d. Bank B for the car loan and Bank B for the savings account Please select the best answer from the choices provided