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Ch.2 Saving
Ch. 2 Saving
5
Business
10th Grade
08/20/2014

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Cards

Term
Compound Interest
Definition
Interest paid on interest previously earned; credited daily, monthly, quarterly or semiannually
Term
Emergency Fund
Definition
Five hundred dollars in readily available cash to be used only in the event of an emergency; the goal of First Foundation
Term
Interest Rate
Definition
Percentage paid to a lender for the use of borrowed money (in debt); percentage earned on invested principal (in investing)
Term
Five Foundations
Definition
The five steps to financial success
Term
sinking Fund
Definition
Saving money over time for a large purchase
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