Final 1

4. a quick method for calculating interest on money not compounded
7. interest paid on interest previously earned
9. a person or organization that uses a product or service
11. the additional cost a lender charges for borrowing their money
15. the amount that an organization pays to purchase in bulk with intent to re-sell
16. a partial refund that is paid back to a consumer
17. financial protection that is purchased ahead of time for a possible eventuality
18. an additional amount paid by the purchaser that is passed on to the state
20. amount that is not included in the paycheck because it is being sent to the IRS
24. the knowledge and skill base necessary for people to be informed consumers and manage their finances effectively
25. a monthly amount that is paid toward an insurance policy
26. the granting of a loan and the creation of debt; any form of deferred payment

1. a written plan for giving, saving, and spending
2. anything that is owned by an individual, including money in the bank or investments
3. a number assigned to a person representing his/her ability to pay back a loan
5. a loan that is used to buy a home and is paid back on a monthly basis
6. a professionally managed investment fund that trades in diverse holdings
8. the initial amount of money invested or borrowed
10. money owed to another person or company
12. A sum of money paid up front for a large purchase (that's financed with a loan)
13. a deduction from the usual price
14. a plan of action that allows a person to meet not only their immediate needs but also their long-term goals
19. a fixed payment that is paid upon receipt of a service (usually medical)
21. the cost of goods or services; money paid out
22. a specified amount that the insured must pay before the insurance company begins paying
23. an amount added to the price to account for overhead costs and profit