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Money Matters Vocabulary
Summer School 2014 Vocabulary List
Terms in this set (25)
An account to keep money safe which can be opened at most banks.
The amount of money deposited in an account.
Taking money out of an account.
Adding money to an account.
Money the bank pays you to leave money in a savings account., The payment you receive for allowing a financial institution or corporation to use your money.
The percentage amount , Percentage paid to a lender for the use of borrowed money.
Interest calculated on both the principal and the accrued interest.
How easily an asset can be converted into cash.
Certificate of Deposit (CD)
A savings alternative in which money is left on deposit for a stated period of time to earn a specific rate of return.
A plan for making and spending money.
An amount of money spent to buy something or do something.
"the bills", expenses that can be expected every month such as a mortgage payment, rent, or a loan payment
Costs that vary in amount and type, depending on the choices you make such as utility bills, groceries, or gasoline.
Money spent on something you want versus something you need.
A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder
A card used to make purchases; must be repaid later with interest unless full payment is made monthly
a fee that some, but not all, credit card issuers charge to use their credit card.
Annual Percentage Rate (APR)
The percentage used to compute the finance charges on an outstanding balance.
The amount of unused credit available on a credit card account.
A document that details terms and conditions of your credit card account. It includes APR, any applicable annual fee, penalties and other costs associated with the use of the card.
The maximum amount you are allowed to carry as a balance on a credit card..
The amount of interest paid, based on the interest rate, on the outstanding balance of a credit card.
Late Payment Fee
Amount charged if a credit card payment is received after the billing due date.
Minimum Monthly Payment
The amount due based on the percentage of the outstanding balance, or minimum fixed amount.
When a check or withdrawal from a checking account leaves the balance below zero.
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