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Grade 11 Personal Finance
Grade 10 Business Technology
Compounding is
  1. the process that calculates interest based on previously owned interest.
  2. caps out at 10% interest.
  3. the annual percentage rate.
  4. a percentage of interest on savings.
Grade 10 Business Technology
Overdraft protection is
  1. a savings plan requiring that a certain amount be left on deposit for a stated time period.
  2. an automatic loan made to checking account to cover insufficient funds.
  3. a computer terminal used to conduct banking transactions.
  4. a financial institution that is owned by depositors and specializes in savings accounts.
Grade 10 Business Technology
A certificate of deposit is
  1. a savings plan requiring that a certain amount be left on deposit for a stated time period.
  2. a mutual savings financial institution.
  3. a financial institution that specializes in savings accounts ad mortgage loans.
  4. s depositable savings account.
Grade 10 Business Technology
A credit union is
  1. assets put into savings.
  2. a financial institution that offers a full range of financial services.
  3. a financial institution that specializes in savings accounts ad mortgage loans.
  4. a user-owned nonprofit financial institution offered by investment companies with earnings based on investments.
Grade 10 Business Technology
Compounding is
  1. the process that calculates interest based on previously owned interest.
  2. caps out at 10% interest.
  3. the annual percentage rate.
  4. a percentage of interest on savings.
Grade 10 Business Technology
A mutual savings bank is
  1. a mortgage bank only.
  2. a user owned financial institution.
  3. an investment and stock bank only.
  4. a financial institution that is owned by depositors and specializes in savings accounts.
Grade 10 Business Technology
A savings and loan association is
  1. an institution that does not allow direct deposit.
  2. a mutual savings financial institution.
  3. a financial institution that specializes in savings accounts ad mortgage loans.
  4. a bank or credit union.
Grade 10 Business Technology
A savings and loan association is
  1. a bank or credit union.
  2. a mutual savings financial institution.
  3. an institution that does not allow direct deposit.
  4. a financial institution that specializes in savings accounts ad mortgage loans.
Grade 10 Business Technology
A car loan is which type of credit repayment?
  1. Revolving Credit
  2. Installment Plan
  3. Layaway Plan
  4. Credit Line
Grade 10 Business Technology
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