Part A
1. What are the benefits of having a saving account?
• Include the ability to withdraw at any time, unlike other long-term investments such as certificates of deposits. Savings accounts also require a low investment amounts to start with, depending on the type of account. Much like checking accounts, many saving accounts are also insured by the FDIC. Other advantages include the ability to have automatic deductions for bill-pay and minimal monthly fees.
2. What is the purpose of FDIC insurance? As a consumer, do you benefit from this insurance?
• FDIC is to insure savings accounts against future bank failures. Yes
3. During the Great Depression, many banks failed and people lost their deposits. Do you think such a thing could …show more content…
The result is the approximate number of years that it will take for your investment to double.
8. What is the formula for calculating simple interest?
• A = P(1 + rt)
9. How does compound interest differ from simple interest?
• Compound interest is interest added to the principal of a deposit or loan so that the added interest also earns interest from then on. 'Simple Interest' A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate by the principal by the number of periods.
10. What is meant by future value of money?
• Refers to a method of calculating how much the present value (PV) of an asset or cash will be worth at a specific time in the future.
Part B
Educational, Guidance School and vocational …show more content…
Educational, Guidance School and vocational counselor provides an interdisciplinary team effort to address student needs and educational goals, skill development for teachers in classroom management, teaching effectiveness and effective education, and consultation to assist teachers in their guidance role. Job opportunities are expected to be favorable as the number of counseling program graduates will be less than the number of job openings. Prospective educational, vocational and school counselors should be respectful, trustworthy and confidence as well as possess a strong desire to help others. The Bureau of Labor Statistics (BLS) reports that educational, vocational and school counselors nationwide earned a mean annual wage of $56,160 in 2013, with the top 10 percent of earners taking home at least $86,870. Individual salary figures can vary quite a bit, based on factors such as job experience, education level and regional or industry-based demand for expertise in the
1. What are the benefits of having a saving account?
• Include the ability to withdraw at any time, unlike other long-term investments such as certificates of deposits. Savings accounts also require a low investment amounts to start with, depending on the type of account. Much like checking accounts, many saving accounts are also insured by the FDIC. Other advantages include the ability to have automatic deductions for bill-pay and minimal monthly fees.
2. What is the purpose of FDIC insurance? As a consumer, do you benefit from this insurance?
• FDIC is to insure savings accounts against future bank failures. Yes
3. During the Great Depression, many banks failed and people lost their deposits. Do you think such a thing could …show more content…
The result is the approximate number of years that it will take for your investment to double.
8. What is the formula for calculating simple interest?
• A = P(1 + rt)
9. How does compound interest differ from simple interest?
• Compound interest is interest added to the principal of a deposit or loan so that the added interest also earns interest from then on. 'Simple Interest' A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate by the principal by the number of periods.
10. What is meant by future value of money?
• Refers to a method of calculating how much the present value (PV) of an asset or cash will be worth at a specific time in the future.
Part B
Educational, Guidance School and vocational …show more content…
Educational, Guidance School and vocational counselor provides an interdisciplinary team effort to address student needs and educational goals, skill development for teachers in classroom management, teaching effectiveness and effective education, and consultation to assist teachers in their guidance role. Job opportunities are expected to be favorable as the number of counseling program graduates will be less than the number of job openings. Prospective educational, vocational and school counselors should be respectful, trustworthy and confidence as well as possess a strong desire to help others. The Bureau of Labor Statistics (BLS) reports that educational, vocational and school counselors nationwide earned a mean annual wage of $56,160 in 2013, with the top 10 percent of earners taking home at least $86,870. Individual salary figures can vary quite a bit, based on factors such as job experience, education level and regional or industry-based demand for expertise in the