Past, Present, Future
The true, total yearly cost of borrowing money, expressed as a percentage
Annual percentage rate
Something you work in for your whole life and enjoy vs. something you do for a short period of time
Career vs. Job
A digital service that allows customers to conduct financial transactions and manage accounts electronically
Electronic banking
When someone obtains and uses another person's personal identifying information without permission to commit fraud, make unauthorized purchases, or open new financial accounts for monetary gain
Identity theft
Money paid upfront to a landlord, lender, or service provider as financial protection
Security deposit
The original amount of money lent, borrowed, or invested
Principal
The level of material wealth, comfort, and access to goods and services available
Standard of living
A payment card issued by a bank that is linked directly to your checking account
Debit card
An agreement where one party allows another party to use an asset in exchange for periodic payments over a specified period
Lease
Land and any permanent physical structures attached to it that is owned by somebody
Real estate
The interest you earn on both your original money and the accumulated interest
Compounding interest
A document used to display your strengths
Resume
A specialized savings account offered by banks and credit unions that pays a fixed interest rate on a lump sum of money for an agreed-upon period
Certificate of deposit
An employer-sponsored retirement savings plan. It allows employees to automatically invest a portion of their paycheck before or after taxes are deducted
401k
The current price an asset or business would command in an open, competitive market
Market value
What a specific amount of money today will be worth at a specified date in the future
Future value
An individual's natural capacity or inherent talent to learn financial or numerical concepts
Aptitude
Definition depends on the context. Can be a measure of price change in stocks, prepaid interest in mortgages, or the smallest unit of measurement for interest rates
Points
A contract between you and an insurance company
Annuity
Upfront fees and expenses required to finalize a real estate transaction and secure a mortgage
Closing costs
The cost of borrowing money
Interest
A one-page document submitted alongside your resume
Cover letter
A _____________ is an interest-bearing deposit account offered by banks and credit unions; also an example of a _____________
Money market account, liquid asset
A loan an investor makes to a corporation or government entity
Bond
Two different types loans you can take out to pay for a house
Adjustable rate mortgage, Mortgage