Which of the following is NOT a function of money?
a. Medium of exchange
b. Capital used to produce goods and services
c. Unit of account
d. Store of value
What is M1?
a. A monetary aggregate that includes currency in circul
SIMPLE INTEREST TEST
1. Interest Rate: 6% each year
Starting Balance: $154
Time Passed: 9 years
How much interest has accrued if we are using simple interest?
What is the new total balance?
2. 2. Interest Rate: 7% each year
Starting Balance: $122
Simple Interest and Simple Interest
Simple interest is the most basic type of interest. In order to understand how various types of
transactions work, it helps to have a complete understanding of simple interest.
For example, you may pay inte
Definition: Interest rate is the percent charged, or paid, for the use of money. It is charged when
the money is being borrowed, and paid when it is being loaned.
Interest is paid by a bank when money is deposited because the bank uses that
1. How GDP Affects You:
Let's say the GDP growth rate is speeding up, and the Fed raises interest rates to stem inflation.
In this case, you would want to lock in a fixed-rate mortgage, because you know that an
adjustable-rate mortgage will s
GDP ESSAY QUESTIONS
1) What is GDP?
GDP is the gross domestic product of a country. It measures the total final market
value of all goods and services produced within a country during a given period.
GDP is the most frequently used indicator of market act
DIY COMPOUND INTEREST TEST
1. A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs.
1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have
gained by way of interest is:
DIRECT DEPOSIT TEST QUESTIONS
1. What is Direct Deposit and its benefits?
2. How does Direct Deposit work?
3. When are funds from Direct Deposit available?
4. How do I sign up for Direct Deposit?
5. How soon after I sign up will my checks be direct deposi