You have $7,000 to put into a savings account. The interest rate for a regular savings account is 3%. How much would you have in your account after 1 year? * 1 point $210 $300 $6,790 $7,210
You have $7,000 to put into a savings account. The interest rate for a regular savings account is 3%. The interest rate for a CD is 5%. Which account should you choose to put your money in?
*
1 point
the regular savings account because the interest is $140 more
the CD because the interest is $140 more
the regular savings account because the interest is $1,000 more
the CD because the interest is $1,000 more
If you withdraw $25,000 from your 401k at an early age and incur the 10% penalty, how much would the penalty be?
*
1 point
$250
$25
$2,500
$5,000