Finance
Retirement plan.
What is 401k?
A borrowed sum of money that is expected to be paid back with or without interest.
What is a loan?
allows cardholders to borrow funds with which to pay for goods and services with merchants
What is a credit card?
an amount of money borrowed by one person from another
what is debt?
Payment card that takes money out of your checking account when you make a purchase.
What is debit card?
Annual percent rates.
What is APR?
money paid regularly at a particular rate for the use of money lent
What is interest?
investing money for profit
What is investment?
Taking money out of an account
What is Withdrawal?
Something a person or company owes.
What is liability?
Your salary after taxes.
What is net income?
The net amount of cash and cash-equivalents being transferred into and out of a business.
What is cash flow?
A bank account that earns interest and usually has a fee to withdraw money.
What is a savings account?
A possession of value (ex: property, vehicles)
What is an asset?
Amount of money brought in interest from an investment or revenue from a tax return.
What is yield?
A financial institution.
What is a credit union?
The cost required for something
What is expense?
a number of lenders use to help them decide how likely it is that they will be repaid on time if they give a person a loan or a credit card.
What is a credit score?
incurred when you spend more money than you have available in your bank account
What is over draft(fee) ?
A certain consumer reporting agency company.
What is Equifax?
a company that lends customers small amounts of money at high interest rates, on the agreement that the loan will be repaid when the borrower receives their next paycheck.
What is a payday lender?
nine-digit number assigned to a bank or credit union
what is a routing number?
tax levied by a government directly on income
What is income tax
the minimum dollar amount that a customer must have in an account to receive some service benefit
What is minimum balance
Ratio between net income and investment.
What is return on investment?