Interest
This is the extra money you earn or owe when you borrow or save money.
interest
This is the minimum percentage of a home's purchase price a buyer typically pays upfront when taking out a mortgage.
A Down Playment
This is a small ownership share in a company that you can buy and sell on the stock market.
stock (share)
This is the most common type of income the money you earn from working a job
earned income (wages/salary)
What team does Noof support
Barcalona. If you say Madrid -2000 points
This type of interest is calculated only on the original amount you deposited or borrowed.
simple interest
This type of mortgage has an interest rate that stays the same for the entire life of the loan.
fixed rate mortgage
This type of investment is like a loan you give to a company or government they pay you back with interest over time.
bond
A budget follows this popular rule where 50% goes to needs, 30% to wants, and 20% to savings.
50/30/20 rule
If Noof were to dye his hair what color would it be
Transparent, Credit applies if they say red or blonde highlights
This type of interest is calculated on both the original amount AND the interest you've already earned often called "interest on interest."
compound interest
This government-backed loan type allows first-time buyers to put as little as 3.5% down, even with lower credit scores.
What is an FHA loan
Instead of picking individual stocks, this type of fund lets you invest in hundreds of companies at once
index fund
This federal tax form is filed every year to report your income and calculate how much tax you owe or get refunded
Form 1040
Left Winger
This percentage tells you how much interest you earn or owe per year on an account or loan.
interest rate (APR/APY)
This term refers to the gradual paying off of a mortgage through scheduled payments of both principal and interest over time.
Amortization
This investment strategy means spreading your money across different types of investments to reduce risk.
Diversification
This type of tax takes a larger percentage from people who earn more money and a smaller percentage from those who earn less
progressive tax
Sonic
If you invest $1,000 at 6% interest compounded annually, approximately how much will you have after 12 years using the Rule of 72
$2,000? (Rule of 72: 72 รท 6 = 12 years to double)
A home costs $400,000. The buyer puts 20% down and takes a 30-year fixed mortgage at 6.5%. Approximately what is the monthly principal and interest payment
$2,023 per month ($320,000 loan at 6.5% for 30 years)
This is the general term for the risk that your investment could lose value and be worth less than what you paid.
investment risk (or market risk)
In the U.S. tax system, this term describes the highest tax rate that applies to your top dollars of income NOT all of your income
marginal tax rate (tax bracket)
Whos on top of the table
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