Economics Midterm Vocabulary

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Author:
HPizir
ID:
255794
Filename:
Economics Midterm Vocabulary
Updated:
2014-01-10 13:04:24
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Economics Midterm Vocabulary
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Economics Midterm Vocabulary
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Economics Midterm Vocabulary
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  1. Offers the highest interest rates. You can pay a penalty if you withdraw any money before this account matures.
    Certificate of Deposit (CD)
  2. How can you avoid credit problems?
    Following your budget and paying your bills on time
  3. The practice of buying goods or services now and paying for them in the future
    Credit
  4. a fee the bank pays for the use of money
    interest
  5. the total cost of a loan
    finance charge
  6. the amount of interest charged per year
    Annual Percentage Rate (APR)
  7. assumes responsibility for debt if a borrower doesnt repay
    cosigner
  8. Pays higher interest and allows you to write a limited number of checks. It also requires a higher minimun balance.
    Money Market Account
  9. an investment company that gathers money from individual investors and uses the money to purchase a range of financial assets
    Mutal Funds
  10. shares of ownership in a corporation
    stocks
  11. a plan for allocating income for saving and spending
    budget
  12. a statment by the credit bureau that details a comsumers credit record
    Credit Report
  13. the use of someone elses personel information for criminal purposes
    identity theft
  14. a request to an insurance company for payment to an insured loss
    claim
  15. the ammount the insured pays before the insurance pays
    deductible
  16. a contract for renting an appartment, vehicile, or other item for a specfic period of time
    lease
  17. amount paid for insurance
    premium

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