Personal Finance Review

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

• interest
• savings plan
• scarce
• purchase

This type of interest "creates a mathematical explosion," and it can make you wealthy over time, or keep you in debt for a long time.

• compound
• sinking
• annual

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

• Principal
• Interest
• Rebate
• Fixed Rate

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

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

What is this?

• Credit history

• Credit card

• Credit score

• None of the above

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

• Retirement
• College Savings
• Low Interest
• Stock

The standard Internal Revenue Service (IRS) form that individuals can use to file their annual income tax returns

• 1040

• 1099

• w4

• w2

What is the relationship between risk and return when it comes to investments?

• Lower Risk = Higher Reward

• Higher Risk = Lower Reward

• Lower Risk = Lower Reward

Check all that apply...Which of the following are services offered by both banks and credit unions.

• Checking Accounts

• Savings Accounts

• Roth IRAs

• Credit Cards