Chapter 2 Flashcards
0
Q
Emergency fund
A
Five hundred dollars in readily available cash to be used only in the event of an emergency; the goal of the First Foundation.
1
Q
Compound interest
A
Interest paid on interest previously earned; credited daily, monthly, quarterly or semiannually.
2
Q
Interest rate
A
Percentage paid to a lender for the use of borrowed money (in debt); percentage earned on invested principal (in investment).
