Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.

By signing up, I agree to StudyStack's Terms of Service and Privacy Policy.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
remaining cards
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards

Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Math Finance C04-L02

Wirtz Math Finance Chapter 4 Lesson 2

promissory note (p181) An agreement which states the conditions of a loan; a borrower's signature confirms a promise to pay back the loan as outlined in the agreement.
principal (p131, 181) The balance, or amount of money, in an account, or amount borrowed.
annual percentage rate - APR (p143, 181, 201) The interest rate paid per year or charged per year.
cosigner (p181) A person that signs a promissory note along with the borrower and agrees to pay back the loan if the borrower does not.
life insurance (p181) A type of insurance that pays a specified amount upon the policy holder's death.
prepayment privilege (p181) An agreement that allows the borrower to make payments before the due date to reduce the amount of interest.
prepayment penalty (p181) An amount borrowers pay as a fee if they wish to pay back an entire loan before the due date.
wage assignment (p181) A voluntary deduction from an employee's paycheck, used to pay off debts.
balloon payment (p182) The last monthly payment on some loans that is much greater than the previous payments
lending institution (p182) Organizations that extend loans; they make their profit by charging interest, includes banks, savings and loans, credit unions, life insurance companies, and pawnshops.
collateral (p182) Security, such as a personal belonging, car or boat title, CD, or stock certificate, that insures a loan will be repaid.
wage garnishment (p182) An involuntary form of wage assignment, often done by court order.