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15 Cards in this Set
- Front
- Back
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46) debit card
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a plastic card that provides access to electronic funds transfer (EFT) from an automated teller machine (ATM) or a point-of-sale (POS) terminal
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47) debt
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something owed, usually measured in dollars. entire amount of money owed to lenders
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48) debt to income ratio
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the percentage of a consumers monthly gross income that goes toward paying debts
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49) deductible
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the dollar amount or percentage of a loss that is not insured, as specified in an insurance policy.
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50) default
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failure of a borrower to repay a student loan according to the terms agreed upon when the promissory note was signed. when a borrower defaults, the school, loan holder, state government, and federal government can take action to recover the money. defaults are reported to national credit bureaus and might affect a borrowers ability to get credit in the future.
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51) deferred interest
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a deferred interest loan is when a loan payment stays the same while the interest rate increases. a deferred interest loan will let you choose to pay only the minimum payment - a payment less than the entire interest owed for that month. the unpaid interest is then added to your loan amount to be paid at a later date.
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52) delinquency
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failure of a borrower to make a loan payment on the scheduled payment due date.
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53) demand
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the quantity of a good or service that buyers are willing and able to buy at all possible prices during a period of time.
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54) dependent
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a person who relies on another individual for support
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55) depreciation
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decline in a products value that starts the moment a product is purchased.
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56) discount point
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an amount or fee a borrower pays to a lender, which will help decrease the interest rate on a mortgage loan. one point is equal to one percent.
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57) disposable income
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gross pay minus deductions for taxes
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58) diversification
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a strategy for reducing some types of risk by selecting a wide variety of investments
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59) dividends
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earning from corporate stock or credit Union share accounts
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60) down payment
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an initial, partial payment made at the time of purchase to permit the buyer to take delivery of the purchase
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