• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/28

Click to flip

28 Cards in this Set

  • Front
  • Back
Account balance
The amount of money in an account, equal to the net of credits and debits at that point in time for that account. also called balance.
APR
The percentage of the principal of a loan to be paid as interest in one year. Differs from an add-on rate in that an APR is calculated on the declining balance of the loan. The Truth in Lending Act requires lenders to disclose APRs to prospective borrowers.
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one who cannot repay the debts they owe to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor.
Bond
A certificate of indebtedness issued by a government or a publicly held corporation, promising to repay borrowed money to the lender at a fixed rate of interest and at a specified time
Budget
A spending-and-savings plan
Capital Gain
A profit realized from the sale of property, stocks or other investments.
Collateral
Something of value (often a house or a car) pledged by a borrower as security for a loan. If the borrower fails to make payments on the loan, the collateral may be sold; proceeds from the sale may then be used to pay down the unpaid debt.
Copayment
a payment made by a beneficiary (esp. for health services) in addition to that made by an insurer.
Credit Card
a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit.
Debit Card
a card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase
Deductible
Regarding insurance policies: A set amount an insured person must pay per loss before the insurance company will pay a claim.
Dividend
A share of a company's net profits paid to stockholders.
Finance Charge
The total cost of credit, including interest and transaction fees.
Fixed APR
An interest rate on a credit card that does not change unless the cardholder fails to pay on time.
Insurance
A practice or arrangement whereby a company provides a guarantee of compensation for specified forms of loss
Interest
money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt
Installment Credit
credit for a fixed sum to be repaid in instalments, e.g. for hire purchase.
Minimum Balance
the lowest amount of funds that can be in your account before incurring a service charge.
Mutual Fund
A pool of money used by a company to purchase a variety of stocks, bonds or money market instruments. Provides diversification and professional management for investors.
Premium
An amount to be paid for an insurance policy.
Principle
An original amount of money invested or lent.
Proportional Tax
A tax that takes the same percentage of income from people in all income groups.
Progressive Tax
A tax that take a larger percentage of income from people in higher-income groups than from people in lower-income ones; the U.S. federal income tax is an example.
Regressive Tax
A tax that takes a larger percentage of income from people in lower-income groups than from higher-income ones. Sales taxes and excise taxes are examples.
Revolving Credit
credit that is automatically renewed as debts are paid off.
Security Deposit
An amount you may be required to pay, usually at the beginning of the lease, that may be used by the lessor or assignee in the event of default or at the end of the lease to offset any amounts you owe under the lease agreement. Any remaining amount may be refunded to you.
Stock
An ownership share or shares of ownership in a corporation.
Variable APR
The variable APR (expressed in yearly terms) fluctuates based on an index, such as the Prime Rate or LIBOR.