Glencoe Business and Personal Finance Chapter 10 – Flashcards
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personal financial planning
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arranging to spend, save, and invest money to live comfortably, have financial security, and achieve goals.
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goals
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the things one wants to accomplish
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values
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the beliefs and principles you consider important, correct, and desirable.
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liquidity
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the ability to easily convert financial assets into cash without lost in value.
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service
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a task that a person or machine performs for you.
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good
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a physical item that is produced and can be weighed or mesasured.
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consumer
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a person who purchases and uses goods or services.
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interest
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the price that is paid for the use of another's money
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time value of money
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the increase of an amount of money due to earned interest or divideneds.
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principal
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the original amount of money on deposit.
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future value
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the amount an orginal deposit will be worth in the future based on earning a specific interest rate overa specific period of time.
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annuity
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a series of equal regular deposits.
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present value
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the amount of money you would need to deposit now in order to have a desired amount in the future.
