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MoHolley's unit 4 study guide

Terms in this set (25)

Intrest
another word for finance charge
lent
Credit is the money that is ______ to you and you have to pay it back
consumable goods
_________ __________ could be "used up" before you can repay the amount that is owed
installment
_______ loans are better for large purchases
lower
Generally installment loan interest rates are ________ than credit card interest rates
Gross
_________ salary is the amount of money you make before taxes are taken out
fixed expenses
_________ ___________ stay the same from month to month
variable
Groceries, gas, clothing, etc. are _________ expenses
memo
Account numbers or what the check is for can be found on the ___________ line
top right
The check number can be found in the ______ ______ corner of the check
$4,000.00
If Ned gets paid a gross pay of 48000 per year what is his gross monthly income
$400.00
If bill drives a UPS truck for 40 hours per week and he makes $10 per hour, how much will he make per week
$45.00
Olivia gets paid $3 for every book she reads in a week. If she reads 15 books, how much will she make
$ 3,000.00
A realtor earns 3% commission on every house she sells. If her total sales for this month equals $100,000 what is her commission.
$60,000.00
If your gross pay is $5000 a month how much would you make per year
spending
________ power is the ability to spend money on what you "want"
depository
Bank is short for ____________ institution
banks
Commercial, savings & loan s associations, and credit unions are all examples of __________
Compound Inerest
What is it called when you get paid interest on what you deposit into the bank plus on the interest that has been added to your account
Liquidity
__________ refers to the readiness with which an item can be converted into cash without losing at least some of its value
budget
Plan for spending & saving money based on a persons goals during a given time period
debt
entire amount of more a person owes to lenders
expenses
any money a person spends or gives away
investment
use of saving to earn a financial return
loan
sum of money given to an individual with the intent that is to be repaid at some future date along with and agreed upon intrest
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