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Math
Financial Literacy
Term | Definition |
---|---|
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. |