Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why

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.

Remove ads
Don't know
Know
remaining cards
Save
0:01
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:
Retries:
restart all cards




share
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

Study Stack #3

Financial Unit Review

QuestionAnswer
"Pay Yourself First" Putting money away automatically each and every month
Compound Interest Interest computed on the principal each year,
Rule of 72 Divide the interest rate into this number and it will tell you how often your money doubles
Millionaire Fact Someone who spends less money than he/she earns
Time One factor used to figure out how much money one will have in the long run
Inflation Every year prices rise for the items we want to buy, it works against our savings plan
Investment Pyramid The more you earn on your money, the riskier it is (bank savings are at the bottom, stocks are in the middle, collectibles/metals at the top)
Down Payment Amount paid ahead of time to reduce the overall loan (usually required)
Appreciate Asset goes up in value over the years
Depreciate Asset that goes down in value over the years
Checking Account Used to pay your bills, not intended to be used to save money
Savings Account A safe place to keep your money, but not a very high rate of interest is earned here
Certificate of Deposit Lending your money to the bank for a longer period of time earns a slightly higher interest rate than a savings account
Education An ally of making more $ in the long run
Federal Reserve Note Official name of our currency
Barter The oldest form of trading known to us
$100 Note Largest denomonination of currency currently printed in the U.S.
Lease An agreement that is signed that the tenant promises to obey, usually a year in length
Mortgage A legal document giving the lender a claim against the property
Foreclosure When the bank is forced to seize the property and sells it on its own
Equity The difference between what a house is worth and how much is left to pay on the mortgage.
Appraiser A person appoointed by the bank who figures out what your house and property are actually worth
Vehicle Loan Usually three to five year loan at a higher interest rate than a home loan
Repossess The bank takes back a vehicle if the loan is not paid back in a timely manner
Vehicle Lease A consumer who likes to have a nice vehicle rents it for a long period of time, like two to three years.
Depreciation The fact that certain assets go down in value each year like cars, boats, campers.
Appreciation The fact that certain assets go up in value each year like a house
Capital Gain When an asset is worth more than what it originally cost
Capital Loss When an asset is worth less than what it originally cost
Liquidity How quickly an asset can be converted into cash $$$
mint.org A valuable website to use as a financial tool for eighth graders at MMS
Eviction Failure to follow the rules of apartment lease results in this happening to a tenant
Collectibles A high risk investment on the risk vs. reward pyramid (like a baseball card collection)
Precious Metals A high risk investment on the risk vs. reward pyramid like collectibles. (Gold & Silver)
Created by: dlajaa