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Consumer p2

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puggy814's version from 2017-06-12 01:25

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Question Answer
the 5 steps to financial sucessthe 5 foundations
a rate which is either changed or paid for the use of money interest rate
saving money overtime for a large purchasesinking fund
interest paid on interest previously earnedcompound interest
a sving account that is set aside to be used only for emergenciesemergency funds
the presistent increase in the cost of a good or service or the presistent decline in purchasing power of moneyinflation
an account that generates interest income on the available balance in accountinterest bearing account
when saving money the amount u saved is determined by how much u have left at the end of the month once all the spending is donefalse
ur income level greatly affects ur saving habitsfalse
at ur age a fully funded emergency fund should be$500
what is not 1 of the 3 basic reasons for saving moneyhaving money available to lend money to friends
instead of borrowing money for a large purchase you should set aside money in a ________ over time and pay in cashsinking fund
memorize

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