The More Frequently a Bank Compounds Interest,_____ Will Be
The more frequently a bank compounds interest,_____ will be.
A) the higher the stated interest rate
B) the lower the stated interest rate
C) the higher the APY
D) the lower the APY
E) a and c
Commercial banks are insured by the:
A) Financial Deposit Insurance Association.
B) Federal Depositors Assurance Corporation.
C) Federal Deposit Insurance Corporation.
D) Financial Deposit Insurance Company.
E) Federal Demand Deposit Corporation.
Which of the following persons would ideally use Internet banking?
A) Nancy Johnson,a young business woman,who uses bank financing regularly for her business
B) Milan Sosa,an older gentleman,who enjoys visiting his local banker
C) Molly Peterson,a woman who uses multiple bank services including a safe-deposit box
D) Fred Longoria,a man who uses checking and savings but never goes to his bank
E) A,B,and D would be good candidates for Internet banking.
Janie Long has checking and savings accounts in a federally insured financial institution.The maximum amount of her insurance coverage is:
A) $50,000 per account.
C) $100,000 per account.
E) $200,000 per account.