Matching Pairs Finanacial Literacy VocabularyOnline version Student will match their vocabulary term with the definition. by Jennifer Tuttle 1 Consumer 2 Sinking Fund 3 Emergency Fund 4 Credit 5 Interest rate 6 Loan 7 Debt 8 Compound interest 9 Interest Saving money over time for large purchases. Person or organization that uses a product or a service. An obligation (agreement) of repayment owed by one party (person who borrowed the money) to a second party (person or business who loaned the money). Can include interest on the money borrowed. A debt evidenced by a "note" (legal piece of paper) which specifies the principal amount (amount you borrowed), interest rate (rate applied as a fee for the service of you borrowing the money), and date of repayment. Percentage paid to a lender for the use of borrowed money (in debt) or percentage earned on invested principal (in investing). Interest paid on interest previously earned; credited daily, monthly, quarterly or semiannually. Five hundred dollars in readily available cash to be used only in the event of an emergency. Granting of a loan and the creation of debt; this will include any for of deferred (delayed) payment. A fee paid by a borrower to the lender for the use of borrowed money; typically interest is calculated as a percentage of the principal.
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