financial literacy exam 1-5

the word Loan most nearly means :

• the knowledge and skill set necessary to be an informed consumer and manage finances effectively

• a debt evidence by a note which specifies the principal amount, interest rate and debt of repayment

• all of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, etc.

• a person or organization that uses a product or service

debt means:

• a fee paid by my a borrower to the lender for the use of borrowed money; typically interest is calculated as a percentage of the principal (original loan amount)

• a system by which goods and services are produced and distributed

• an obligation of payment owed by one party to a second party; in most cases this includes repayment of the original amount plus interest

• the granting of a loan and the creation of debt; any form of deferred payment

financial literacy :

• the knowledge and skill set necessary to be an informed consumer and manage finances effectively

• the granting of a loan and the creation of debt; any form of deferred payment

• a system by which goods and services are produced and distributed

• a person or organization that uses a product or service

what is the granting of a loan and the creation of debt; any form of deferred payment

what is all of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting etc.

what is a fee paid by a borrower to the lender for the use of a borrowed money; typically interest is calculated as a percentage of the principal (original loan amount)

a system by which goods and services are produced and distributed is…

a person or organization that uses a product or service is …

interest paid on interest previously earned; credited daily, monthly, quarterly or semiannually

an account that generates income on the available balance in the account