RC Ch. 3 Vocab

RC Ch. 3 Vocab

Assessment

Flashcard

Other

12th Grade

Practice Problem

Hard

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Wayground Content

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10 questions

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1.

FLASHCARD QUESTION

Front

Emergency fund:

Back

A savings account for financial emergencies.

2.

FLASHCARD QUESTION

Front

Large purchase?

Back

A purchase that requires a significant amount of money.

3.

FLASHCARD QUESTION

Front

Interest rate definition

Back

Percentage of principal charged by the lender for using its money.

4.

FLASHCARD QUESTION

Front

Accrued interest?

Back

The amount of interest charged on a debt but not yet collected.

5.

FLASHCARD QUESTION

Front

Compound growth:

Back

Average growth rate of an investment over time, often annual.

6.

FLASHCARD QUESTION

Front

Compound interest

Back

Interest paid on interest previously earned

7.

FLASHCARD QUESTION

Front

Principal: initial amount invested or borrowed

Back

The initial amount of money invested or borrowed

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