click below
click below
Normal Size Small Size show me how
PCS Personal Fin
Personal Finance Key Terms Ch. 2
Term | Definition |
---|---|
Compound Interest | Interest paid on interest previously earned; credited daily, monthly, quarterly or semiannually |
Emergency fund | Five hundred dollars in readily available cash to be sued only in the event of an emergency; the goal of the First Foundation |
Interest rate | Percentage paid to a lender for the use of borrowed money (in debt); percentage earned on invested principal (in investing) |
Five Foundations | the five steps to financial success |
Sinking fund | saving money over time for a large purchase |