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18 Cards in this Set

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  • Back

Amortized Loans 2

A loan paid off in equal installments


A series of equal dollar payments at the end of each period for "x" number of time periods

Power of Compound Interest

Allowing the interest that you earn on an investment to stay in the investment and to earn interest on the interest you have already earned


An annuity where the payments never stop

Rule of 72 Math

By dividing interest rate into 72, you see how many years it takes to double your money

Rule of 72 Math 3

By dividing years into 72, you see what interest rate it takes to double your money

Amortized Loans

Car loans and mortgage loans are typical annuities in the form of these

Power of Compounding

Helps you attain financial goals, gives you more money for retirement and provides money for excess of social security and private pensions

Discount Rate

Interest rate used to bring future dollars back to present dollars

Amortized Loans 3

Later loan payments involve larger amounts of principal payment

Time Value of Money

Method by which one can compare cash flows across time either as what a future cash flow is worth today (present value) or what an investment today will be worth in the future (future value)

Compounding Periods

Money will grow faster as the number of these periods per year becomes larger

Inflation Period

The "enemy" of compound interest and makes it very difficult to reach your financial goals

Present Value

The current value in today's dollars of a future sum of money

Future Value

The dollar value of an investment at some future point in time

Time Value of Money

This principal states that a dollar today is worth more than a dollar in the future

Compound Annuity

Uses the principles of reinvesting and compound interest

Rule of 72 4

Using rule of 72 divide years into 72 to see interest rate