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Financial Literacy Vocabulary
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Annual Percentage Rate
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The annual rate that is charged for borrowing
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Are You Financially Literate? Budgeting Basics Financial Institution
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Terms in this set (26)
Annual Percentage Rate
The annual rate that is charged for borrowing
Certificate of Deposit
a certificate issued by a bank to a person depositing money for a specified length of time.
Checks
a written dated and signed paper that contains an unconditional order from the drawer that directs a bank to pay a definite sum of money to a payee.
Credit History
a record of a consumer's ability to repay debts and demonstrated responsibility in repaying debts.
Credit Limit
maximum amount a credit card company will allow someone to borrow on a single card
