personal finance unit vocab
Terms
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- benefit
- something an employer offers an emplyee beyond salary(health care)
- closing
- the final aranging of details for the sale of a house
- co-pay
- a partial payment for benefits or service(ex. doctors visit)
- creditcard
- a card that allows an individual to charge the cost of a purchase to a credit account
- APR
- annual percent rate for interest paid on a creditcard
- co-sign
- to add your signiature to a loan made by someone else, promising that you will repay if the other person doesn't
- assets
- what you own or have paid for
- APY
- annual percent yeild descibes interest paid to a saving account or certificate
- ATM
- an automated teller machine where n individual can withdraw, deposit, or transpher money within his/her accounts
- credit rating
- a report that tells you how well you repay your loans
- audit
- a process where accounts are rechecked for accuracy and completeness
- credit limit
- the ammount of money a bank or credit card company is willing to loan you
- 401(k)
- a savings plan for retirement
- credit
- a transaction that adds to an account
- check
- a written order directing a bank to take money form your account and pay someine you have designated on the order
- balance
- the exsiting amount in an account