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Business > Saving + Borrowing > Flashcards

Saving + Borrowing Flashcards

1
Q

Why do people save

A
  1. To ease money worries
  2. To have money for retirement
  3. To have money for planned future
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2
Q

What is DIRT

A

A government tax on interest earned on savings

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3
Q

Give an example of a short term, medium term, and long term loan

A

Short term: credit card
Medium term: leasing/ renting
Long term: mortgage

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4
Q

What does APR stand for

A

Annual Percentage Rate

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