Abbreviations
Charge It!!
Define Me, Please
Car Talk
Odds & Ends
100
FV
What is future value?
100
Name two factors that can influence your credit score.
What are payment history, debt, length of credit history, # of inquires, OR mix of credit.
100
The balance of your retirement account at the time of your retirement.
What is a nest egg?
100
Don't give the car salesperson this until you have settled on the price.
What is your Social Security number?
100
I = PRT
What is the formula for simple interest?
200
MSRP
What is Manufacturer's Suggested Retail Price?
200
It's one of the things you should do to maintain a good credit score.
What are paying bills on time OR limit your debt payments to less than 20% of your credit limit.
200
It's the amount you own of an item that you are financing.
What is equity?
200
A resource you can use to help research your next automobile purchase.
What is Carfax, TrueCar, or Consumer Reports?
200
B = Initial Balance [(1+APR/12)(1-min%)]^t
What is the minimum payment balance formula?
300
APR
What is annual percentage rate?
300
A term used when your credit limit is reached.
What is maxing out your card?
300
This arrangement allows you to withdraw both principal and interest from your nest egg.
What is an annuity?
300
This type of auto insurance protects you against losses that can occur when your car's cash value is less than what you owe on the car.
What is GAP insurance?
300
72/APR
What is the time it takes for your money to double?
400
APY
What is annual percentage yield?
400
A type of credit score that makes up a substantial portion of the credit report that lenders use to assess an applicant's credit risk.
What is your FICO score?
400
It's the loan for the purchase of a home.
What is a mortgage?
400
It's the percentage of either the MSRP or the invoice price of a new vehicle that the manufacturer repays to the dealer.
What is holdback?
400
The type of growth one enjoys by having their money invested in an account that is compounded monthly.
What is exponential growth?
500
ARM
What is adjustable rate mortgage?
500
It's one of the 3 credit reporting bureaus.
What is Equifax or TransUnion or Experian?
500
A schedule for an installment loan that shows the principal and interest paid for the term of the loan.
What is an amortization schedule?
500
It's the value your car loses as it ages.
What is depreciation?
500
It's the percentage change in the Consumer Price Index over a period of time.
What is rate of inflation/deflation?
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