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Math

Financial Literacy

TermDefinition
Interest The price you pay to borrow money.
Loan Money that you borrow but you have to pay it back over time.
Withdraw Money that you take out from your account.
Compound Interest interest you earn on interest
Net Worth What is owned minus what is owed.
Principle The initial amount invested or borrowed.
Assets Anything you own that adds financial value.
Saving Interest The bank pays you to keep your cash deposited there.
Simple interest An interest charge that borrowers pay lenders for a loan.
Fixed Expenses Costs that remain the same in price and frequency.
Deposit Money that you put into your bank account.
Created by: tahia
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