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# Math Finance C10

### Wirtz Math Finance Chapter 10

TermDefinition
utility (C10L1 p482) Expenses for electricity, natural gas, heating oil, and water that are incurred while living in a home.
meter (C10L1 p482) A device that records how much a particular utility is used.
watt (C10L1 p482) A unit measure used for electricity.
watt-hour (C10L1 p482) a unit for the usage of electricity; for example, a 60-watt light bulb burning for two hours uses 120 ?.
kilowatt-hour (C10L1 p482) A unit of measure by which electricity is sold; equivalent to 1000 watt-hours of electrical use.
cubic foot (C10L1 p482) A unit of measure by which natural gas and water are sold; it represents the amount of space occupied, not the weight.
ccf (C10L1 p482) A unit of measure that represents 100 cubic feet.
volume (C10L1 p482) The amount of space inside a three-dimensional region, such as a room; it is measured in cubic units.
electronic utilities (C10L2 p489) Technologically advanced utilities such as Internet access, cell phones, and television.
budget matrix (C10L3 p496) An organizer that contains numerical entries or information on when certain account deposits and withdrawals are made over a period of time.
matrix (C10L3 p496) A rectangular array of information consisting of rows and columns.
row (C10L3 p496) A horizontal line of values in a spreadsheet.
column (C10L3 p496) A vertical line of values in a spreadsheet.
electronic matrix (C10L3 p496) A spreadsheet.
budget check-off matrix (C10L3 p497) Where there are no amounts in the budget, but rather check marks that indicate at what time of the year the expenses for the indicated category will occur.
order of a matrix (C10L3 p497) The number of rows and columns in a matrix; row x column.
pie chart (C10L3 p497) A graphic display in the form of a circle divided into pie-shaped sectors that are used to present data percentages.
line graph (C10L3 p497) A type of graph or data display that is used to depict changes over time on a coordinate grid.
bar graph (C10L3 p497) A type of graph or data display that uses rectangular bars to compare categories of data.
budget line graph (C10L3 p497) A type of graph used when a consumer is comparing two categories of expenses; it indicates the amount that can be allotted to each expense so that both categories can be afforded within a certain income.
sector (C10L3 p499) The radii in a pie chart or circle graph divide the 100% of the are of the circle into these regions.
central angle (C10L3 p499) The angle formed around the center of a pie chart by the radii that make the sectors.
cash flow analysis (C10L4 p499) A detailing of how money comes in and how money goes out over a fixed period of time.
cash flow (C10L4 p508) The money that goes in and out of a budget within a fixed period of time.
pro-rate (C10L4 p511) The process of dividing expenses proportionately as if they were monthly expenses.
envelope accounting system (C10L4 p512) A system of using envelopes that are set up to hold the allocated amounts for weekly or monthly budget categories.
frequency budget plan (C10L4 p512) A household budget in terms of the frequency that payments or credits are made over the course of a year.
year-long expense budget plan (C10L4 p512) A plan where entries are made under each of the months of the year.
net worth (C10L4 p512) The difference between a person's assets and that person's liabilities.
assets (C10L4 p516) A person's property or what is owned.
liabilities (C10L4 p516) A person's debts or amount that is owed.
debt reduction plan (C10L4 p517) A plan to improve a debt-to-income ratio by doing some or all of the following: lower debts with the highest interest rates, pay more than the minimum amount, look for ways to cut costs daily, use an online debt management calculator, etc.
debt-to-income ratio (C10L4 p517) A ratio of monthly expenses to monthly gross income.