Personal Finance

Cost of credit expressed as a yearly percentage 

• Mortgage
• Principal
• APR
• Finance company

The cost of borrowed money, usually expressed as a percentage.

• interest
• savings plan
• scarce
• purchase

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

• Retirement
• College Savings
• Low Interest
• Stock

What does CD stand for when talking about investments?

• Calculated Dividend
• Certificate of Deposit
• Central Dollar
• Current Deposit

A mutual fund allows investments to be ___________.

• Secured
• Guaranteed
• Diversified
• Minimal

This term refers to the original amount of a loan OR the original amount of money invested. 

• Principal
• Interest
• Rebate
• Fixed Rate

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

• compound interest
• emergency fund
• APR
• debt

What is a credit score?

• a three-digit score that tells lenders how much money you make each year.

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

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

• A credit score is a five-digit numerical rating that reflects how likely you are to fail at paying your debts

Which budget item will most likely take up the largest percentage of your income at 25-30%?

• transportation

• housing

• groceries

• saving/investing

What is a budget?

• A plan for how money will not be used

• A plan for how money will be used

• The amount you spend

• The amount you save