393 days ago
A high credit score doesn't guarantee financial success; it reflects borrowing history, not overall financial health, which requires smart money management and savings.
393 days ago
How much will Molly’s Monthly Payment be if She makes 36 Monthly Payments? The correct answer is $597 per month.
393 days ago
When a corporation repurchases its bonds from bondholders, they are known as retired bonds, signifying their redemption and inactivity in the market.
393 days ago
Banks consider interest on loans important because it helps them cover business costs, including salaries and operations, ensuring their financial stability and ability to ....
393 days ago
Allie will earn $32 in one year with a $1000 investment in an account with a 3.2% APY.
393 days ago
Your student loan is in forbearance due to financial hardship, offering temporary payment relief for up to 12 months, preserving credit but accruing interest.
393 days ago
Term Bonds require payment of the full principal amount at the end of the loan term, distinguishing them from serial and convertible bonds.
393 days ago
True, when calculating interest expense on a 6-month note, multiply the principal by the interest rate and then multiply by 6/12 to adjust for the time period.
393 days ago
For raising capital to acquire another company, a software company would typically turn to An Investment Banker because they specialize in large-scale financial transaction....
393 days ago
Scheduling an automatic payment of your bills using online or mobile banking apps helps you manage your money easily and avoid late fees.
393 days ago
Not having health insurance in the USA can result in crippling medical debt, delayed care, legal actions, and financial instability, limiting access to essential healthcare....
395 days ago
Transferring money from a savings account to a checking account at the same bank is called a "transfer," enabling easy access for daily spending through checks or....
395 days ago
Health insurance offers financial protection and covers medical procedures, reducing the risk of medical debt, but it does not allow skipping lines in emergency rooms.
395 days ago
The banking activity of the Fed is Storing Money for Banks, which involves managing the money supply, ensuring economic stability, and influencing interest rates and moneta....
395 days ago
Self-insurance for car or home risks isn't feasible for most Americans due to limited financial resources, legal requirements, and the inability to handle complex claim....
395 days ago
Prioritize saving by setting up automatic transfers from your paycheck into a designated savings account, ensuring regular contributions and financial security.
395 days ago
The Federal Deposit Insurance Corporation (FDIC) is the regulatory agency that ensures banks follow federal laws, guaranteeing customer deposits and maintaining stability i....
395 days ago
Student loans can be good for education access but require careful management due to potential financial challenges and varying job prospects.
395 days ago
People buy insurance to safeguard against major financial losses in accidents or property damage, providing a crucial safety net for their financial security and peace of m....
395 days ago
Creditors prefer payment plans over collections to protect your credit score, save costs, build trust, increase debt recovery chances, and show your commitment, fostering a....
396 days ago
The document that specifies what you need to pay on your credit card is called a "Statement", providing a detailed summary of your monthly transactions, payments,....
396 days ago
People buy insurance to protect themselves from unexpected events, secure their assets, ensure financial stability, and find peace of mind by transferring risks and prepari....
396 days ago
Central banks govern the banking industry by regulating reserves, payments, and money supply, acting as lenders of last resort, ensuring stability, and responding to crises.
396 days ago
When banks make a profit, shareholders benefit through dividends, companies receive financial support for expansion, leading to job creation and economic growth.
396 days ago
Before depositing a check using a mobile app, it's essential to write or check "For Mobile Deposit" on the back of the check, indi....
396 days ago
Someone should get health insurance because it protects them financially from medical emergencies, covering essential expenses and preventing financial strain.
396 days ago
Collision insurance covers vehicle damage from accidents, with a deductible of $250 to $1,000, excluding non-driving damages, other cars, and medical bills.
396 days ago
Retail banks are for-profit entities maximizing shareholder profits, whereas credit unions, owned by members, prioritize community service and offer better rates to their m....
396 days ago
Choosing a bank or credit union for financing provides lower interest rates, resulting in cost savings compared to financing from sellers.
396 days ago
Breaking payments into 4 parts seems simple, but late payments can mean fees, lower credit scores, and future borrowing issues, posing a risk to financial stability and goa....
396 days ago
A bank may dishonor a check due to alterations, mismatched signatures or amounts, post-dating, stop payment instructions, or insufficient funds.
396 days ago
When a debit card is used to buy supplies, the Cash Account is credited, reducing the cardholder's checking account balance and accurately recording the decrease in ava....
396 days ago
The lender examines the customer’s credit report to assess their ability to repay the loan, based on their credit history and financial obligations.
396 days ago
Debit cards provide direct access to funds in a checking account, allowing for purchases, cash withdrawals, and online transactions.
396 days ago
A cosigner for student loans is typically a creditworthy adult, often a parent or guardian, responsible for ensuring timely repayment and meetin....
396 days ago
HELOC loans vary from 5 to 30 years, with a 5-10 year draw period for borrowing and a subsequent 10-20 year repayment period. Specific terms depend on the lender and borrow....
396 days ago
Accepting a subsidized loan is better for eligible individuals because it has lower, fixed interest rates supported by the US Department of Education, ensuring stable, affo....
396 days ago
The FAFSA determines college financial aid by assessing family income, ensuring fair distribution of grants, loans, and work-study options, promoting equal access to higher....
396 days ago
A money wiring agency would not have reliable information about student loans, unlike loan officers, school counselors, and financial aid officers.
396 days ago
Credit doesn't always exclude the need for collateral, some lenders require security deposits or collateral for certain types of credit.
