401 (k) A defined contribution plan that automatically takes out money from an employee's paycheck before income taxes and invests it in mutual funds for purposes of retirement savings. Annual percentage rate. Cost of borrowing money on an annual basis; takes into account the interest rate and other related fees on a loan.1 / 21 Flashcards Test Match Q-Chat Created by Meowmixbellaboo Teacher Terms in this set (21) Key * = correct answer You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money? A.) Compounding 1 time a year B.) Compounding 4 times a year C.) Compounding monthly D.) Compounding daily*EVERFI and MassMutual partnered with third-party researchers from the University of Massachusetts Donahue Institute to study FutureSmart, a digital financial literacy course available at no cost to middle school students nationwide. During the 2017-2018 school year, researchers analyzed data from over 20,000 students and conducted

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