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Finance Vocab!!!
study these cards for up coming tests!!!!!
Term | Definition |
---|---|
Income | Money received from investments or other financial support. |
Mortgage | House payment |
Fixed expenses | an expense that will be the same total amount regardless of changes. |
Non-fixed | These prices will change. |
Minimum wage | The lowest wage permitted by law,in U.S $7.25 an hour. |
Wage/Salary | Terms for ones work=work related earnings. |
Budget | A plan for saving/spending money |
Expenses | Financial obligations such as bills |
Investments | Investing money for profit |
Risk and Return | the higher the risk the higher the return. |
Savings | Money set aside |
Debt | Money owed |
Credit | Borrowing money towards the purchase at something you cant afford |
Interest | The percentage that has to be paid back and the loan |
Loan | A sum of money must be paid back overtime |
Lender | A person,or bank you owns money |