Math of Finance S1 Final Exam

Front

What is the range of credit scores?

Back

300-850

Front

What is a savings account that is managed entirely online?

Back

Online Saving Accounts

Front

What is the number associated with a checking account called?

Back

Account Number

Front

What does APR stand for?

Back

Annual Percentage Rate

Front

What is an annual fee?

Back

The price you have to pay for a card every year.

Front

What is the purpose of a credit score?

Back

To assess the creditworthiness of an individual.

Front

What is simple interest?

Back

Interest calculated only on the principal amount.

Front

What is compound interest?

Back

Interest calculated on the principal and also on the accumulated interest.

Front

What is the difference between a debit card and a credit card?

Back

A debit card withdraws money directly from your bank account, while a credit card allows you to borrow money up to a certain limit.

Front

What is a budget?

Back

A plan for managing income and expenses.