Title: QUIZ: Growing Money: Compound Interest -- No Frills Money Skills Video Series
Course: Andria Testing FRE2 > Section: Growing Money: Compound Interest -- No Frills Money Skills Video Series

Q: The price people pay for the use of someone else’s money is __________.
- profit
- credit
- interest
- inflation
A: interest

Q: The money in your account at the bank is insured by the __________.
- Federal Trade Commission
- National Credit Union Administration
- Securities and Exchange Commission
- Federal Deposit Insurance Corporation
A: Federal Deposit Insurance Corporation

Q: Which of the following people is likely to pay the highest interest rate for a car loan?
- Mark, who has worked as a manager at McDonalds for ten years
- Jennifer, who is 45 and has worked as an electrical engineer for 20 years
- Ella, who is 18 and works part time at McDonalds while going to school
- Ludwig, who is 24 and just landed his first full-time job as an electrical engineer
A: Ella, who is 18 and works part time at McDonalds while going to school

Q: The amount of money you accumulate in savings depends on _________.
- income, time, and taxes
- time, taxes, and interest rate
- interest rate, income, and time
- interest rate, time, and principal
A: interest rate, time, and principal

Q: The amount of money you initially deposit in your bank account is called the _________.
- interest
- principal
- interest rate
- compound interest
A: principal

Q: Charles has a bank account where he allows the regular interest payments to accumulate. This is an example of _________.
- risk
- checking account
- interest rate
- compound interest
A: compound interest

Q: The best plan for building your saving is to _________.
- pay yourself first
- save the money you get from rewards on your credit card
- save the money left over each month, after paying your own expenses
- claim fewer deductions on your paycheck and save the money you get in a tax refund
A: pay yourself first