Money finance unit 4
Terms in this set (47)
any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor
A method for computing equal periodic payments for an installment loan.
Automatic Clearing House
Transfers funds among banks using electronic payment entries.
the legal proceeding by which a bankrupt person's assets are distributed among those to whom he or she owes debts
the distinctive qualities that describe how a person thinks, feels, and behaves
A security pledged for the repayment of a loan.
Consumer protection act
Law makes it a Class B Misdemeanor to commit any unfair or deceptive act in any trade or commerce
a binding agreement between two or more persons that is enforceable by law
To add your signature to a loan made by someone else, promising that you will repay if the other person does not
An arrangement to receive cash, goods, or services now and pay for them in the future.
Type of card issued by a bank that allows users to finance a purchase
Credit card bill of rights
The 2009 Act amends the Truth-In-Lending Act to establish fair and tranparent practices relating to credit cards.
Credit counseling service
an organization that provides debt and financial management advice and services to people with debt problems at little or no cost
a number assigned to a person that indicates to lenders their capacity to repay a loan.
A detailed report of an individual's credit history
Demonstrating trust in repayment of borrowed money.
A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder
something, typically money, that is owed or due
combining debt into one payment
Free Application for Federal Student Aid
entities that provide financial services, such as taking deposits, managing investments, brokering financial transactions, or making loans
the fraudulent acquisition and use of a person's private identifying information, usually for financial gain.
knowledgeable consumer of research is one who can appraise research evidence and use exsisiting standards to determine the merit and readiness of research for use in clinical practice
loans repaid in regular payments over a period of time
A sum paid or charged for the use of money or for borrowing money
The interest rate will not change for the lifetime of the investment.
variable interest rate is an interest rate on a loan or security that fluctuates over time, because it is based on an underlying benchmark interest rate or index that changes periodically.
An increased coupon rate on the longer term maturity instruments within a serial bond issue. In a serial issue, bonds mature at different intervals, creating a string of short- to long-term instruments. Higher interest is earned on the long-term bonds, providing incentive to investors for holding the instrument for an increased period. I: Investors refer to this large coupon rate as balloon interest, since it is often inflated. Serial bonds are usually issued to fund revenue-generating projects with steadily increasing cash flows. The issuer hopes that the project will be near the height of its earning power, by time the balloon interest is due.
A debt evidenced by a "note," which specifies the principal amount, interest rate and date of repayment
the set of assets in an economy that people regularly use to buy goods and services from other people
a specific type of loan that is used to buy real estate
Includes insurance against financial loss by reason of the nonpayment of principal, interest and other sums agreed to be paid under the terms of any note or bond or other evidence of indebtedness secured by a mortgage, deed of trust, or other instrument constituting a lien or charge on real estate.
A legal or moral responsibility or duty
companies that make small short-term, high-interest loans to tide a person over "until payday"
a written contract with a promise to pay a supplier a specific sum of money at a definite time
A business that sells goods or services directly to the public.
Portion of income not spent on consumption
Loan that is backed up by collateral
A component of data classification scheme that assigns a status level to employees to designate maximum level classified data they may access
interest paid on the principal alone
Required payments to a government
Alternatives that must be given up when one is chosen rather than another
loans that require a good credit rating but no collateral
Beliefs of a person or social group in which they have an emotional investment (either for or against something).
things that add comfort and pleasure to your life
when a person intentionally invests more in a place where it can earn more money