Type of savings plan Example: regular savings account, certificate of deposit, or money market account Financial Institution and its rating Annual Interest Rate Risk of return Minimum Initial Amount Minimum Period of Time for maintaining account Maintenance or Service Fee. If yes, how much Any Penalty for Early Withdrawals Savings Plan Choice # 1 Regular savings Chase Bank: rating 4.5 0.01% N/A $25 None Savings Plan Choice # 2 Certificate of deposit Ally Bank: rating 4.5 0.06% N/A $0 3 months-5 years No monthly maintenance or transaction fees Varies, but general range is 60-150 days of interest. Savings Plan Choice # 3 Money market account
\begin{tabular}{|l|l|l|l|} \hline & Savings Plan Choice \#1 & Savings Plan Choice \# 2 & Savings Plan Choice \# 3 \\ \hline \begin{tabular}{l} Type of savings plan \\ Example: regular savings \\ account, certificate of \\ deposit, or money market \\ account \end{tabular} & Regular savings & Certificate of deposit & Money market account \\ \hline \begin{tabular}{l} Financial Institution and its \\ rating \end{tabular} & Chase Bank: rating 4.5 & Ally Bank: rating 4.5 & \\ \hline Annual Interest Rate & 0.01% & 0.06% & \\ \hline Risk of return & N/A & N/A & \\ \hline Minimum Initial Amount & S25 & S0 & \\ \hline \begin{tabular}{l} Minimum Period of Time \\ for maintaining account \end{tabular} & None & \begin{tabular}{l} No monthly maintenance or \\ transaction fees \end{tabular} & \\ \hline \begin{tabular}{l} Maintenance or Service \\ Fee. If yes, how much \end{tabular} & Varics, but general range is & \\ \hline \begin{tabular}{l} Any Penalty for Early \\ Withdrawals \end{tabular} & & - 150 days of interest. & \\ \hline \end{tabular} 3. Use the sample credit report and credit score example given in No. 2 to answer questions #4,5 and 6. 4. What have you learned from the Sample Credit Report? 5. What does the credit score mean? How is the credit score being calculated? 6. What are the procedures for fixing the error after the error is found on the credit report? 7. Save the file with "your last name-Assignment \#5" as the file name in word or PDF in the computer. Example: "Charles Assignment \# 5". 8. Submit the file to the "Week 5 Assignment" submission folder in "Assignments. 9. If you are interested to request a copy of the credit report, you could either the credit report via physical mail, phone, or website. See the link below for the "Annual Credit Report Request Form". IMPORTANT: Do not submit your personal cred report to D2L. \begin{tabular}{|l|l|l|l|} \hline & Savings Plan Choice \#1 & Savings Plan Choice \# 2 & Savings Plan Choice \# 3 \\ \hline \begin{tabular}{l} Type of savings plan \\ Example: regular savings \\ account, certificate of \\ deposit, or money market \\ account \end{tabular} & Regular savings & Certificate of deposit & Money market account \\ \hline \begin{tabular}{l} Financial Institution and its \\ rating \end{tabular} & Chase Bank: rating 4.5 & Ally Bank: rating 4.5 & \\ \hline Annual Interest Rate & 0.01% & 0.06% & \\ \hline Risk of return & N/A & N/A & \\ \hline Minimum Initial Amount & S25 & S0 & \\ \hline \begin{tabular}{l} Minimum Period of Time \\ for maintaining account \end{tabular} & None & \begin{tabular}{l} No monthly maintenance or \\ transaction fees \end{tabular} & \\ \hline \begin{tabular}{l} Maintenance or Service \\ Fee. If yes, how much \end{tabular} & Varics, but general range is & \\ \hline \begin{tabular}{l} Any Penalty for Early \\ Withdrawals \end{tabular} & & - 150 days of interest. & \\ \hline \end{tabular} 3. Use the sample credit report and credit score example given in No. 2 to answer questions #4,5 and 6. 4. What have you learned from the Sample Credit Report? 5. What does the credit score mean? How is the credit score being calculated? 6. What are the procedures for fixing the error after the error is found on the credit report? 7. Save the file with "your last name-Assignment \#5" as the file name in word or PDF in the computer. Example: "Charles Assignment \# 5". 8. Submit the file to the "Week 5 Assignment" submission folder in "Assignments. 9. If you are interested to request a copy of the credit report, you could either the credit report via physical mail, phone, or website. See the link below for the "Annual Credit Report Request Form". IMPORTANT: Do not submit your personal cred report to D2L
