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Personal Finance 2

vocabulary review

TermDefinition
bonds debt obligations of corporations or the government
borrower the person who borrows money or uses another form of credit
broker a person who buys and sells stock on an exchange, on behalf of a buyer or invester
budget an organized plan whereby you match your expected income to your expected outflow
Bull market a rising stock market(in both volume and prices), which is characterized by optimism
business an organization that produces goods and services
call option the right to buy stock or futures contracts at a fixed price until the expiration date
callable bond bonds that can be recalled, or paid off, before their maturity date
canceled check checks the bank has processedf
capacity the ability to repay loan from present income
capital wealth available to produce more wealth; assets of a person or business after liabilities are deducted
capital gains profits from sale of assets, such as stocks, bonds or real estate that are not taxed until the asset is sold
capital goods buildings, tools, machinery and other manufactured items used to produce goods and services
cash advance a loan taken out by charging an amount of cash to a credit card
cash flow (positive) the excess of income over and above expenses
cashier's check a check written by a bank on its own funds in exchange for payment by an individual
Certificate of Deposit (CD) a time certificate representing a sum of money deposited for a set length of time, such as six months
certified check a personal check that the bank guarantees to be good
charge card a credit card which requires full payment of the bill each month; no interest is charged
check card also called a debit card; it works like a check. It is used to access funds from your checking account
checkbook register a record of deposits to and withdrawals from a checking account
checking account a banking service where money is deposited into an account and check are written to withdraw money as needed
Closed-end credit a contract for the loan of a specified amount in which the contract issued tells the amount of purchase, the total finance charge, and the amount of each payment
Co-signer someone who signs a loan with the borrower and promises to assume the responsibility of repaying the debt in the event that the borrower does not repay it
Collateral (security) savings, bonds, insurance policy, jewelry, property that is pledged to pay off a loan or other deft if payments are not made
Created by: SusieQ60