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5: Review Your Knowledge
Name several strategies to help make savings grow.
How do automatic savings options, such as employer sponsored payroll savings plans, help individuals save money?
How does creating SMART goals help a person reach savings objectives?
Describe how passbook savings accounts work.
Describe the advantages and disadvantages of using a certificate of deposit (CD) to save money.
Describe two types of interest.
Summarize how to calculate compound interest.
Explain how to use the Rule of 72.
What is the purpose of a Form 1099-INT?
How does inflation affect the value of savings?
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