Savings 1st year Business
Help!
|
|
||||
|---|---|---|---|---|---|
| Building Societies | Financial institutions owned by their members, established to provide mortgages.
🗑
|
||||
| Credit Unions | A cooperative owned by a group of savers and borrowers who have something in common, such as living in the same area.loans are affordable and every member has equal say.
🗑
|
||||
| Saving | Not spending some of your income.
🗑
|
||||
| Investing | Spending on capital goods e.g. machines.
🗑
|
||||
| Demand Deposit Accounts | Saving accounts where money can be withdrawn at any time.
🗑
|
||||
| Time Deposit Accounts | Saving accounts when money can be withdrawn only by giving a minimum amount of notice.
🗑
|
||||
| DIRT | A tax on the interest on your savings.
🗑
|
||||
| Savings Certificates | Provided by the post office. People save a lump sum of money for five and a half years tax free. The money is state guranteed and they receive 7% interest
🗑
|
||||
| Saving Bonds | Provided by the post office.People save a lump sum of money for three years tax free. The money is state guranteed and they receive 2.5% interest
🗑
|
||||
| Instalment Savings Agreement | People save a regular amount for at least 12 months this money is then left on deposit for five years and earns 7% interest.
🗑
|
||||
| Shares | Buying a part ownership of a business.
🗑
|
||||
| Dividend | A payment to a shareholder based on the amount of profit earned by the business.
🗑
|
||||
| Simple Interest | Interest is paid each year only on the amount saved in that year
🗑
|
||||
| Compound Interest | Interest is paid each year on the total saved i.e. you earn interest on the interest received last year.
🗑
|
||||
| Mortgage | A long term loan, usually for the purchase of a house.
🗑
|
||||
| Bank Overdraft | The bank allows you to spend more than is in your account. You will have an agreed limit and pay interest.
🗑
|
||||
| Collateral | something of value that the bank can take if you do not pay back your loan.
🗑
|
||||
| Term Loan | Consumer borrows for a fixed period of time and repays in installments. They own the product.
🗑
|
||||
| Hire Purchase | A third party buys the product for you, and you pay them back, in installments, with interest. You own the good when the last payment is made.
🗑
|
||||
| Leasing | Renting on a contractual basis. You never own the good, you pay for the use of the good.
🗑
|
||||
| Money Lender | A person with a license to lend money. They will typically charge a high rate of interest.
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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
Normal Size Small Size show me how
Created by:
jennymarshall
Popular Business sets