| Question |
Answer |
| Liquidity | ability to easily convert financial resources into cash w/o loss of value |
| Personal Financial Planning | the way you spend, save, & invest your $ to have the kind of life you want as well as financial security |
| Principal | amount of $ deposited & on which interest is paid |
| Economics | study of the decisions that go into making, distributing, & using goods & services |
| Values | Beliefs & principles that a person considers iportant, correct, & desirable |
| Future Value | amt. that your original deposit will be worth in the future based on a specific interest rate over a specific period of time |
| Present Value | amt. of $ you need to deposit now to attain a desired amt. in the future |
| Time Value of $ | increase in an amt. of $ as a result of interest or dividends earned |
| Demand | amt. of goods & services ppl are willing to buy |
| Economy | the ways in which people make, distribute, & use their goods & services |
| Long-term Goals | financial plans that are more than 5yrs off |
| Services | Exc: cake decorating, tailoring, accounting |
| Supply | amt. of goods & services available |
| Intermediate Goals | saving for a mission's trip 2 summers away |
5th Grade Science
