Personal Finance PRETEST

Front

An example of a need is

Back

Food

Front

an arrangement by which a buyer can take possession of something now and pay for it in the future, usually with interest

Back

Credit

Front

a home loan

Back

Mortgage

Front

Money taken in; the source could be a gift or prize, money earned from performing a task, an allowance, earnings at a job, or earnings from an investment

Back

Income

Front

Money paid regularly by a bank to the account holder for money being saved

Back

Interest

Front

Money set aside now in order to grow money for the future

Back

Investment

Front

Interest is:

Back

The cost of borrowing money

Front

Eric purchased a movie ticket with his card. This money will come straight out of his checking account. What card did he use?

Back

Debit Card

Front

When opening a savings account or planning your budget, which unexpected expenses should you consider? home repair, car repair, medical expenses, all of the above

Back

all of the above

Front

When using a credit card, you will eventually have to do the following:

Back

pay for the item and/or pay interest