EPF Benchmark 2 Review

Front

Term that applies to the ability to buy something now and pay for it later over a period of time (usually with having to pay a finance charge and/or the addition of interest).

Back

Credit

Front

Cost of credit expressed as a yearly percentage

Back

APR

Front

This type of retirement account offered by employers to their employees allows them to set aside tax-deferred income. Sometimes employers will even match the employee contribution up to a certain amount.

Back

401(k)

Front

401(k), IRA, and Roth IRA are all examples of a __________ account.

Back

Retirement

Front

This is an obligation of repayment, usually including principal plus interest; any time you owe someone money.

Back

debt

Front

This type of interest gains on the principal investment and the interest earned

Back

compound

Front

A mutual fund allows investments to be ___________. Options: Secured, Guaranteed, Diversified, Minimal

Back

Diversified

Front

This is just a savings account with a slightly higher interest rate because the saver commits to a longer saving period for a set amount deposited.

Back

C.D.

Front

Credit Score

Back

A three-digit numerical rating that reflects how likely you are to repay your debt.

Front

A card that borrows money but it has to be paid back

Back

Credit Card