Borrowing & Interest Basics
What is the cost of borrowing money or the reward for saving it
What is interest
What is a contract between you and an insurance company that you make a payment or a series of payments, and in return the insurer provides guaranteed disbursements over a period of time
What is annuity
What is the natural ability, capacity, or inherent potential to learn and perform specific tasks or acquire new skills
What is aptitude
In financial literacy,blank is cash and resources that can be easily converted into cash without losing significant value
What is intrest
What is a digital service that allows you to do routine financial transactions such as transferring funds, paying bills, and checking balances without going into a bank
What is electronic banking
What is the baseline sum of money in a transaction. It refers to the original amount borrowed on a loan.
What is Principal
A blank is a short-term or temporary work arrangement focused on earning an immediate income, whereas a blank is a long-term professional journey focused on progressive skill-building, increasing responsibility, and strategic wealth accumulation
What is a job vs career.
What is a professional document that highlights your education, skills, and work history to help yourself to potential employers and secure income.
What is a resume
What is a asset class consisting of land and any permanent physical structures attached to it.
What is real estate
What is payment card that deducts money directly from your linked checking account when you make a purchase, allowing you to spend only what you actually have. [1, 2, 3, 4]
What is a debit card
What is the projected value of a current asset or sum of money at a specified date in the future, based on an assumed rate of return.
What is Future value
The blank refers to the level of wealth, comfort, material goods, and necessities available to an individual, household, or socioeconomic class.
What is standard to living
What is professional document submitted alongside a resume or loan application that explains your financial situation, goals, or qualifications to a lender, landlord, or employer
What is a cover letter
The current price an asset would fetch in the open market, between what buyers are willing to pay and sellers are willing to accept.
What is market value
What is a low-risk savings account offered by banks that locks your money away for a fixed term ranging from a few months to several years in exchange for a significantly higher, guaranteed interest rate.
What is a certificate of deposit
A blank account is a type of interest-bearing bank account that typically offers higher production than standard savings accounts, combining investment-like features with the everyday accessibility of checks and a debit card.
What is money market
A blank is a income financial instrument where an investor loans money to an entity that borrows the funds for a defined period at a variable or specified interest rate.
What is a bond
What is the process of earning interest on both your original money and the accumulated interest from previous periods, allowing your wealth to grow exponentially over time.
What is compounding interest
A blank is a income financial instrument where an investor loans money to an entity (that borrows the funds for a defined period at a variable or specified interest rate.
What is bonds
What is the total yearly cost of borrowing money, expressed as a percentage, which includes both the interest rate and any mandatory fees or charges.
What is APR