Key Terms
6.3
Simple Interest
- Interest
- Principal
- Annual percentage rate
- Simple interest
- Term
- Due
- Origination date
- Payoff amount
- Future value
- Partial payment
- Present value
6.6
Methods of Savings
- Savings account
- 1099 form
- Certificate of deposit
- Money market account
- Return on investment
- Ordinary annuity
6.7
Investments
- Bonds
- Maturity date
- Stocks
- Dividend
- Mutual fund
- Prospectus
- Issue price
- Shares
- Stock table
- Individual retirement account
- Roth IRA
- 401(k)
6.8
The Basics of Loans
- Fixed interest rate
- Variable interest rate
- Installment loan
- Loan amortization
- Revolving credit
- Amortization table
- Cost of finance
6.9
Understanding Student Loans
- FAFSA
- College funding gap
- Subsidized loan
- Unsubsidized loan
- Parent loan for undergraduate students
- Private student loan
- School-channel loan
- Direct-to-consumer loan
- Standard repayment plan
- Federal consolidation
- Refinancing
- Private consolidation
- Graduated repayment plan
- Extended repayment plan
- Discretionary income
- Pay as you earn (PAYE) repayment plan
- Revised pay as you earn (REPAYE) repayment plan
- Income-based (IBR) repayment plan
- Income-contingent (ICR) repayment plan
- Delinquent
- Default
- Rehabilitation
6.10
Credit Cards
- Reward program
- Annual fee
- Credit limit
- Bank-issued credit card
- Store-issued credit card
- Travel and entertainment cards
- Charge cards
- Billing period
- Balance
- Minimum payment
- Average daily balance
6.11
Buying or Leasing a Car
- Title and registration fees
- Destination fee
- Documentation fee
- Dealer preparation fee
- Extended warranty
- Down payment
- Acquisition fee
- Security deposit
- Disposition fees
- Liability insurance
- Collision insurance
- Comprehensive insurance
- Uninsured or underinsured motorist insurance
- Medical payment insurance
- Personal injury insurance
- Gap insurance
- Rental reimbursement insurance
6.13
Income Tax
- Gross income
- Adjusted gross income
- Exemption
- Taxable income
- Deduction
- Tax credit
- Earned income credit
- American opportunity credit
- Lifetime learning credit
- Child tax credit
- Child and dependent care tax credit
- Premium tax credit