Your morning latte
Your school textbooks
Your weekly groceries
All of the above
You don’t have to pay interest or monthly bills.
You have unlimited amounts of money to spend for as long as you like.
You don’t have to provide as much personal information to attain one.
You have access to a lender’s money.
Credit cards are regulated to meet ISO 7810 standards.
The Treaty of Ghent designated a universal card size.
Because of the size of wallet slots, they have become standardized.
A card’s magnetic strip must be 3.375 inches wide to accommodate necessary information.
To determine how much money you can borrow from a financial institution
To determine your interest rate
To reveal your reputation as a borrower
All of the above
A checking account allows you to deposit and withdraw money.
A checking account is a type of savings account.
A checking account only allows you to deposit and withdraw checks.
A checking account only allows for a limited amount of withdrawals and deposits.
A savings account allows for an unlimited amount of withdrawals and deposits.
A savings account allows for a limited amount of withdrawals and deposits.
A savings account is a type of checking account.
A savings account is intended for money that you desire to access frequently.
Generally offer a higher interest rate than checking accounts
Generally are more liquid than checking accounts
Generally should be used for long-term holding periods
Generally offer the ability to write checks without incurring extra fees or expenses
The rate at which your money inflates.
The percentage amount that you are borrowing from a financial institution.
The percentage amount of assets over debt that you have.
The rate at which a borrower is charged by a lender, expressed as a percentage of principal.
Simple interest over time generates a higher interest amount.
Compounded interest takes into account the accrued interest from previous months.
Compounded interest is only used by banks.
Simple interest takes into account the accrued interest from previous months.