Principles of Investment — Unit test Answers

Steven is looking at banks for checking and savings accounts. Some offer home loans and others do not. Steven may need a home loan sometime in the next few years. But he wonders if he should really ask what kinds of loans the bank makes, because he is getting a checking account, not a home loan. Which statement below gives the best reason for Steven to consider loan availability in choosing a checking account?

Jessie wants to open a checking account to pay bills. She wants a starter book of checks, plus free online bill payment services. She analyzes the following statements of fees from Good Bank and Great Bank. Based upon past experience, Jessie expects to accidentally overdraft the account about 3 times per year, unfortunately all in the same month, due to unexpected charges and miscommunications. She expects no 2nd copies of statements, and to use network ATMs 4 times per month with either bank. Based on the tables of fees, which bank can be reasonably expected to cost Jessie the least amount in fees per year?

When choosing a bank, why might ATM availability be valuable to someone who values convenience over cost?

Which of these is not a factor you need to consider when choosing a bank?

Bankruptcy is considered a last resort because it stays on someone’s record for

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This year, the annual tuition at a public four-year university is $5,290. Next year when Jarrod attends his first year, the tuition is expected to increase 4.5%. Jarrod has 1 year to save the amount of money equal to the tuition for his first year. What is the approximate minimum amount Jarrod should save monthly?

Which of the following items may not be a good consideration in selecting a bank?

Aliyah made a payment in the amount of $47.93. She’ll use the check register to record her transaction. What will be her new balance? Do not use commas in your answer.$

In which column on a check register should the total current amount in the account be entered?

Tamara has a hard time remembering pin numbers for her credit cards, but she wants to keep the information secure.Which is the best solution for her dilemma?

Marcus deposited his paycheck in the amount of $625.84. He’ll use the check register to record his transaction. What will be his new balance? Do not use commas in your answer. $

Yasmine plans to attend a four-year public university. She expects she will need to contribute $9,000 annually to her education. Which savings plan will help Yasmine save enough money to pay for one year of school, regardless of whether or not interest is earned on her savings?

Fiona wrote a check to the veterinarian for $89.56. She’ll use the check register to record her transaction. What will be her new balance?