Personal Finance Test 1

What are the five main characteristics of useful financial goals? Kapoor, Jack (2011-01-21). Personal Finance (Mcgraw-Hill/Irwin Series in Finance, Insurance and Real Estate) (Page 11). Business And Economics. Kindle Edition.

(1) be realistic; (2) be stated in specific, measurable terms; (3) have a time orientation; and (4) imply the type of action to be taken

COMMERCIAL BANKS

A commercial bank offers a full range of financial services, including checking, savings, and lending, along with many other services. Commercial banks are organized as corporations, with individual investors (stockholders) contributing the capital the banks need to operate. National banks are chartered by the federal government and state banks by state governments. State-chartered banks are usually subject to fewer restrictions than federally-chartered banks.

FUTURE VALUE OF A SERIES OF DEPOSITS Kapoor, Jack (2011-01-21). Personal Finance (Mcgraw-Hill/Irwin Series in Finance, Insurance and Real Estate) (Page 18). Business And Economics. Kindle Edition.

An annuity is a series of equal deposits or payments. To Kapoor, Jack (2011-01-21). Personal Finance (Mcgraw-Hill/Irwin Series in Finance, Insurance and Real Estate) (Page 18). Business And Economics. Kindle Edition.

savings and loan association

While the commercial bank traditionally served businesses and individuals with large amounts of money, the savings and loan association (S&L) specialized in savings accounts and loans for mortgages. Today, savings and loan associations also offer checking accounts, expanded savings plans, loans to businesses, and other investment and financial planning services.