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Money Matters Chapter 4 Semester Exam Review

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Keywords: , , , , , , online teaching

Content:
Definitions:
0. Most expensive way to finance a new car
1. Baby Step 2
2. First charge card in the US
3. Mortgage loans where the interest rate is adjusted
4. Myth: Leasing a car is what sophisticated people do
5. Myth: Home equity loan can be used for Emergency Fund
6. The best way to buy a car.
7. A tax on the poor and people who can%27t do math
8. Myth: Payday companies are a service for the poor
9. The key to building wealth (according to millionaires)
10. Myth: I am helping my friend if I loan them money.
11. A product agressively marketed to consumers
12. A drop in the value of property
13. Number one target of credit card companies today
14. Myth: You need a credit card to rent a car or buy stuff online
15. Myth: I%27ll take out a 30 year mortgage %26 pay it like a 15

Answers:
0. Truth: Don%27t go into debt for emergencies.
1. 12-18%25
2. Home Equity Loan
3. depreciation
4. Truth: Leasing is the most expensive way purchase a car
5. myth
6. Truth: A new car loses 70%25 of its value in the first 4 years.
7. Truth: You will be moving when they foreclose on you
8. A reliable, used car.
9. Fixed 15 year
10. 400%25 or more annually
11. debt
12. The debt snowball
13. Teens
14. Paradigm shift
15. Gazelle Intensity
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