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Ch. 2 Saving
Ch. 2 Saving
19
Finance
11th Grade
08/20/2014

Additional Finance Flashcards

 


 

Cards

Term
Compound Interest:
Definition
Interest paid on interest previously earned; credited daily, monthly, quarterly or semiannually
Term
Emergency fund:
Definition
Five hundred dollars in readily available cash to be used only in the event of an emergency; the goal of First Foundation
Term
Interest rate:
Definition
Percentage paid to a lender for the use of borrowed money (in debt); percentage earned on invested principal(in investing)
Term
Five Foundations:
Definition
The five steps to financial success
Term
Sinking fund:
Definition
Saving money over time for a large perchase
Term
Budget:
Definition
An itemized summary of probable expenditures and income for a given period.
Term
Deficit:
Definition
The amount by which expenditures exceed income.
Term
Expenditure:
Definition
An amount of money spent
Term
Fixed expense:
Definition
an unchanging expenditure
Term
Flexible expense:
Definition
an expenditure that varies.
Term
Income:
Definition
Money received.
Term
Savings:
Definition
Money that is not spent.
Term
Surplus:
Definition
An amount of money remaining after all expenses have been met.
Term
Take-home pay:
Definition
Money received after all adjustments have been met.
Term
Unexpected expense:
Definition
an unforeseen cost.
Term
ATM:
Definition
Term
ATM:
Definition
Automatic Teller Machine- a bank that gives out cash from your account and accepts deposits around the clock
Term
Balancing and Checking:
Definition
Calculations tat are made to determine the difference between the payments from, and the deposits to, a checking account
Term
Bank:
Definition
Financial
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