Which of the Following Is a Program of Forced Savings

question 13

Multiple Choice

Which of the following is a program of forced savings?

• A)Medicaid
• B)Medicare
• C)Temporary Assistance to Needy Families
• D)food stamps

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Definitions:

Interest

The amount paid for the use of borrowed money, typically expressed as a percentage.

Invested

The allocation of resources, typically money, into ventures with the expectation of generating income or profit.

Interest

The cost of borrowing money or the earnings from lending money, calculated as a percentage of the principal amount.

Simple Interest Rate

A rate used to calculate the interest charge on a loan over a specific period of time, not accounting for the effect of compounding.