It is expected that interest rates for consumer loans will be higher than car loans, mortgages, or student loans.
Answer: true
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Personal Finance
- Consumer Reports (www.consumerreports.org) is an organization dedicated to credit counseling.
- Before beginning to search for car loans it is a good idea for people to review their __________.
- A used car owner is the first person contacted when something is recalled and even has legal recourse if he or she encounters a problem that the automobile dealer or manufacturer is unable to resolve.
- There are no reputable online lenders that offer car loans.
- Automobile dealers typically:
- ________ is a just a financial term that means equal payments at equal time intervals.
- Waiting to start investing significantly reduces the amount of money available later on.
- The present value of an annuity allows easy calculation of what a series of regular payments to be received in the future is worth today.
- The future value of a lump sum is used to calculate what a future dollar amount is worth today.
- Annuity is a just a financial term that means equal payments at equal time intervals.
- The present value of an annuity calculates how much a regular series of payments will be worth at some point in the future.
- The present value of a lump sum is used to calculate what a future dollar amount is worth today.
- By not understanding the basic concept of the time value of money (TVM) people make poor financial decisions all the time.
- Budgeting is the power of the time value of money.
- There is no difference between a financial calculator and any other calculator.
- A(n) __________ is simply the same amount of money invested or paid on a regular schedule, such as weekly, monthly, or annually.
- In 1992 Robert could buy a Super Sugar Deluxe chocolate candy bar for $1. Today in 2012 he pays $2.50 to buy a new and improved Extra Super Sugar Deluxe chocolate candy bar. What inflation rate caused Robert's chocolate habit to increase by $1.50 over the last 20 years?
- A lot of different financial calculators are available to use in time value of money calculations.
- Understanding time value of money is not necessary to making good financial decisions.
- To answer any time value of money question, at least three of the five pieces of information must be known.
- No understanding of time value of money or a financial calculator is necessary to improve financial capability.
- Money stuffed in a mattress is not subject to the time value of money.
- The concept of time value of money (TVM) leads to poor financial decisions all the time.
- The future value of an annuity calculates how much a regular series of payments will be worth at some point in the future.
- Only one financial calculator is available to use in time value of money calculations.
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