Financial Institutions

interest paid on the principal alone

• simple interest

• savings account

• fixed interest rate

• variable interest rate

Cost of borrowing money on an annual basis; takes into account the interest rate and other related fees on a loan.

• Fixed Interest Rate

• Compound Interest Rate

• Variable Interest Rate

• Annual Percentage Rate

a specific type of loan that is used to buy real estate

• Payday Lenders

• Lease

• Mortgage

• Credit Card

Financial institutions that accept deposits and make loans

• Credit Union

• Finance Companies

• Banks

• Pension Funds

The return on an investment before the impacts of inflation and taxes are taken into account.

• Expected Return

• Interest Rate

• Real Return

• Nominal Return

companies that make small short-term, high-interest loans to tide a person over "until payday"

• Simple Interest

• Payday Lenders

• Credit Unions

• Mortgage

interest earned on both the principal amount and any interest already earned

• Compound Interest

• Annual Percentage Rate

• Interest Rate

• Variable Interest Rate

A savings alternative in which money is left on deposit for a stated period of time to earn a specific rate of return.

• Credit Card

• Certificate of Deposit

• Retirement Account

• Savings Account

A personal savings plan; contributions are not tax-deductible; earnings are tax-free

• Credit Union

• Roth IRA

• Traditional IRA

• Real Return

the reduction of a loan balance through payments made over a period of time

• Cryptocurrency

• Depreciation

• Amortization

• Depletion