Consumer Math

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Across
  1. 4. an asset that you put money into with the hope that it will grow or appreciate into a larger sum of money in the future
  2. 5. the monetary charge for borrowing, or depositing money and is usually expressed as a percentage of the amount borrowed, or deposited
  3. 8. the money that a person or entity receives in exchange for their labor or products
  4. 10. type of loan used to purchase or maintain a home, land, or other types of real estate in which the borrower agrees to pay the lender over time, typically in a series of regular payments. The property then serves as collateral to secure the loan
  5. 11. a computerized electronic machine that performs basic banking functions and financial transactions (such as handling check deposits or issuing cash withdrawals)
  6. 16. also known as equity, a security that represents a fractional share of ownership in a company
  7. 18. things that are nice to have but not absolutely necessary
  8. 20. wages withheld from an employee’s paycheck for the payment of taxes, benefits, or garnishments
  9. 22. a form filled out by current and future undergraduate and graduate college students in the United States to determine whether they are eligible for student financial aid
  10. 24. the maximum amount of money a lender will allow you to spend on a credit card or a line of credit
  11. 25. an asset that you put money into with the hope that it will grow or appreciate into a larger sum of money in the future
  12. 27. the total annual cost of borrowing money with a credit card or installment loan
  13. 28. payment made by an employer to an employee for work done in a specific period of time
Down
  1. 1. something pledged as security for repayment of a loan, to be forfeited in the event of a default
  2. 2. a prediction of your credit behavior, such as how likely you are to pay a loan back on time, based on information from your credit reports; a number from 300 to 850 that rates a consumer’s credit worthiness
  3. 3. a payment card that deducts money directly from a consumer’s checking account when it is used
  4. 6. generally operates as a substitute for cash or a check and most often provides an unsecured revolving line of credit. The borrower is required to pay at least part of the outstanding balance each billing cycle, depending on the terms as set forth in the contractual agreement
  5. 7. removing fund from a bank account, savings plan, pension, or trust
  6. 9. the process of paying off a debt through scheduled, pre-determined installments that include principal and interest
  7. 12. an employer sponsored retirement savings plan which is largely self-directed You decide how much you would like to contribute and which investments, from among those offered by the plan, you would like to invest in. It is funded with money deducted from your pre-tax salary
  8. 13. sum of money individuals or companies borrow from banks or other financial institution
  9. 14. an estimate of income and expenditure for a set period of time
  10. 15. an expense in your budget that you can expect to stay the same, or close to it over time
  11. 17. a contractual agreement in which a borrower receives something of value immediately and agrees to pay for it later, usually with interest
  12. 19. a percentage of ownership in a company
  13. 21. mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities
  14. 23. an initial up-front partial payment for the purchase of expensive tems/services, such as a car or a house
  15. 26. a source of ready cash in case of an unplanned expense, an illness, or the loss of a job