Tourism test 3
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The science of funds management
What are the general areas of finance?
are business finance, personal finance, and public finance.
The field of finance deals with what concept?
- the concept of time
- and how they are interrelated.
- also how money is spent and budgeted.
What is personal finance?
is the application of the principles of finance to the monetary decisions of an individual or family unit.
Checking account/saving account
when you write a check on your account, you have a piece of paper that you take to the bank to withdraw money.
The original amount borrowed
Whats the bank?
A financial intermediary
What's a budget?
generally a list of all planned expenses and revenues. it is a plan for saving and spending
An interest rate is the rate of which interest is paid by a borrower for the use of money that they borrow from a lender.
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