Chapter 21 section 1 reviewWhy might someone who is just starting out prefer a regular savings account to a CD?Explain why you should start contributing to a retirement plan as soon as you can.Why do some people find it difficult to save for retirement?
Chapter 21 section 2 reviewWhy might you choose a regular checking account instead of a NOW account?2. Why must you write the amount of a check in both numbers and words?3. Why is it important to reconcile your check register and bank statement?To make sure that they agree.
Chapter 21 section 3 reviewWhy is a credit card more convenient for everyday purchases than a loan?Why is it easy for some people to get into financial trouble when they have credit cards?Why do business check with credit bureaus before extending credit to individuals?
Thursday, April 10, 2008
ch 21 vocab
Dividend – a portion of a fund or an organization’s profits.
Certificate of deposit – A type of investment in which a person deposits a specific amount of money for a fixed amount of time at a stated interest rate.
401K plan – a type of pension plan in which an employee contributes a specific portion of his or her salary to the plan each year.
Individual retirement account -Keogh plan – a retirement plan for self-employed peopleSimplified employee pension -Endorse – to sign one’s name on the back of a check before depositing or cashing it.
Check register – a small booklet that allows one to keep track of money in one’s checking account.
Reconcile – to compare items and then make them agree; used to prefer to a checking account statement and check register.
Credit – a sum of money a person can use before having to reimburse the credit lender.
Application fee – the amount of money charged to apply for a loan.Down payment – The amount of money paid at the time something is purchased through an installment loan.
Finance charge – Fees that lenders charge but are usually based on the amount of money owed.
Annual percentage rate – The amount of interest for one year, expressed as a percentage.
Credit bureau – an agency that collects information on how promptly people on businesses pay their bills.
Certificate of deposit – A type of investment in which a person deposits a specific amount of money for a fixed amount of time at a stated interest rate.
401K plan – a type of pension plan in which an employee contributes a specific portion of his or her salary to the plan each year.
Individual retirement account -Keogh plan – a retirement plan for self-employed peopleSimplified employee pension -Endorse – to sign one’s name on the back of a check before depositing or cashing it.
Check register – a small booklet that allows one to keep track of money in one’s checking account.
Reconcile – to compare items and then make them agree; used to prefer to a checking account statement and check register.
Credit – a sum of money a person can use before having to reimburse the credit lender.
Application fee – the amount of money charged to apply for a loan.Down payment – The amount of money paid at the time something is purchased through an installment loan.
Finance charge – Fees that lenders charge but are usually based on the amount of money owed.
Annual percentage rate – The amount of interest for one year, expressed as a percentage.
Credit bureau – an agency that collects information on how promptly people on businesses pay their bills.
Monday, April 7, 2008
Subscribe to:
Posts (Atom)