ch4 video questions

Will is currently in a 22% tax bracket and has a 7.2% savings rate of return. What is his after-tax savings rate of return?

5.62%

According to the video, which is not a fee that is mentioned for pre-paid cards?

Cash deposit fee

According to the video, what is the most common reason that the adjusted bank balance and your checkbook balance don't agree?

Either you or the bank made a mistake.

According to the video, which is one of the main advantages of pre-paid cards versus cash?

Pre-paid cards are more secure, easier to track the expenses, and loyalty points are available with certain stores.

According to the video, what is step 3 in the bank reconciliation process for individuals?

Subtract any bank fees, ATM withdrawals, automatic payments, and other charges made by the bank that have not been recorded in your checkbook.

Heather is currently in a 15% tax bracket and has a 3.4% savings rate of return. What is her after-tax savings rate of return?

2.89%

Marsha invests $1,350 and earns a $105 return at the end of one year. What is her annual percentage yield (APY)?

7.78%

According to the video, which of the following is mentioned as a tip or trick regarding high-cost financial services?

All of the above. -Compare the interest rate to the average interest rate for loans from a bank or similar financial institution. -Determine the annual interest rate for a prospective loan. -Ask questions, read the fine print, and understand the risks involved with the high-cost loans.

________________________ is a check that you have written but has not been presented to the bank for payment.

An outstanding check

According to the video, which of the following is not mentioned as a financing opportunity for the unbanked?

Corporate Bonds

___________________ individuals are those who have bank accounts, but still use high-cost financial service companies.

Underbanked

According to the video, all of the following are advantages of pre-paid cards, except:

Unlimited purchasing