Intro to Personal Finance Vocab
Authored by Lindsay Ward
Other
10th - 12th Grade
Used 1+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person or organization that uses a product or service.
Economy
Consumer
Debt
Interest
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The granting of a loan and the creation of debt; any form of deferred payment
Credit
Debt
Interest
Loan
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An obligation of repayment owed by one party (the debtor/borrower) to a second party (the creditor/lender); in most cases this includes the repayment of the original loan amount plus interest.
Loan
Interest
Credit
Debt
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A system by which goods and services are produced and distributed
Economy
Financial Literacy
Personal Finance
Loan
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The knowledge and skill set necessary to be an informed consumer and manage finances effectively.
Personal Finance
Consumer
Financial Literacy
Interest
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A fee paid by a borrower to the lender for the use of borrowed money; typically interest is calculated as a percentage of the principal (original loan amount)
Loan
Debt
Interest
Credit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A debt evidenced by a "note" which specifies the principal amount, interest rate, and date of repayment
Loan
Credit
Debt
Personal Finance
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