Question

Question 36 A) Why is storing money in a bank considered safer than storing it in other investment vehicles? (1 point) Responses Banks offer a wider array of financial planning services. Banks offer a wider array of financial planning services. Bank accounts are often opened with savings accounts. Bank accounts are often opened with savings accounts. Bank deposits are insured by the government. Bank deposits are insured by the government. Banks typically know each of their customers. Banks typically know each of their customers.

Answer 1

[AI-generated answer — Bot GPT 3.5]

Bank deposits are insured by the government.

Answer 2

Question 37 A) _____ are/is to _____ as income is to expenses. (1 point) Responses Direct deposit, ATMs Direct deposit, ATMs Inflows, outflows Inflows, outflows Credit rating, credit Credit rating, credit Checking, savings Checking, savings

Answer 3

[AI-generated answer — Bot GPT 3.5]

Inflows, outflows

Answer 4

Question 38 A) Cameron needs a place to store his savings, but the investment doesn’t need to be liquid anytime soon. Which investment would make the MOST sense? (1 point) Responses mutual fund mutual fund money market account money market account real estate real estate checking account checking account

Answer 5

[AI-generated answer — Bot GPT 3.5]

real estate

Answer 6

Question 39 A) Which phrase BEST describes the concept of compound interest? (1 point) Responses interest on interest interest on interest cash from passive income cash from passive income investments that support a social cause investments that support a social cause a falling interest rate a falling interest rate

Answer 7

[AI-generated answer — Bot GPT 3.5]

interest on interest

Answer 8

Question 40 A) When Keely moved back in with her parents because she needed to pay down some of her debts, her mother talked to her about the difference between productive and nonproductive debt. Which is an example of productive debt? (1 point) Responses credit card debt credit card debt student loan debt student loan debt vacation expenses vacation expenses furniture payment plans

Answer 9

[AI-generated answer — Bot GPT 3.5]

student loan debt

Answer 10

Question 41 A) When Ahmed got his first credit card, his mother offered a little advice about avoiding high interest payments. What did she MOST likely say? (1 point) Responses “Don’t get more than three cards.” “Don’t get more than three cards.” “If you have income, you don’t need to worry about interest.” “If you have income, you don’t need to worry about interest.” “Pay your card off every month.” “Pay your card off every month.” “Remember that risk always follows reward.” “Remember that risk always follows reward.”

Answer 11

[AI-generated answer — Bot GPT 3.5]

"Pay your card off every month."