Save
Upgrade to remove ads
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


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. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

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.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
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

Business:Saving

Saving and borrowing

QuestionAnswer
What is saving It’s the act of keeping money for future goals or emergency. E.g saving for a big event
What is investing Investing is the act of spending money on someone or someone expecting money to return back higher leading to a profit
What is borrowing Borrowing is the act of asking for money and paying it back in an agreed time. Interest is the price of borrowing money
Name the time range and adhere them to an optimal time Short term (>1 year) source: bank overdraft, credit card, money lender Medium term(1-5 years) source: personal loan, hire purchase , renting Long term (5 years +) long term loans
Why should you save with a financial institution Safety and recovery from losses, interest and convenience
Why do you borrow For emergencies, kickstart a business ,fulfill your needs ,fulfill your wants, help you through long periods like college.
What’s DIRT Deposit interest retention tax, it’s a tax on interest you earned
What’s APR Annual percentage rate, yearly interest percentage of borrowing money
2 types of deposit accounts Demand account- don’t have to have a notice when withdrawing money, usually low interest payments Term account- requires you to leave in money, usually for 1-5 years , offers excellent interest payments but penalties for withdrawals early
Another type of deposit account Notice account- required you to tell in advance when withdrawing money
What’s a credit union A credit union is usually a local financial, not for profit institution that serves banking services and earns money by reinvesting in the local community
Created by: O15iny
Popular Business sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards