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Money Matters Chapter 4 Semester Exam Review

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Description:
Keywords: , , , , , , online teaching

Content:
Definitions:
0. A product agressively marketed to consumers
1. Myth: Payday companies are a service for the poor
2. The typical millionaire drives this type of car
3. Myth: Leasing a car is what sophisticated people do
4. Myth: it is wise to take out an ARM mortgage..
5. Baby Step 2
6. Myth: You can get a good deal on a new car.
7. Amount that Payday lending loans costs the consumer
8. Myth: Car payments are a way of life
9. The key to building wealth (according to millionaires)
10. Myth: I%27ll take out a 30 year mortgage %26 pay it like a 15
11. Myth: Home equity loan can be used for Emergency Fund
12. Myth: You need a credit card to rent a car or buy stuff online
13. Myth: By co-signing a loan, I am helping out a friend
14. Use this to help get you out of debt!
15. Living in today%27s society without debt requires this

Answers:
0. 12-18%25
1. depreciation
2. Truth: You will end up being responsible for the loan.
3. debt
4. Truth: You will be moving when they foreclose on you
5. Truth: Life happens and something else will be more impt.
6. Truth: Driving a used car is what the typical millionaire does
7. Home Equity Loan
8. A reliable, used car.
9. Quit borrowing money!
10. Truth: It is a tax on the poor and on people who can%27t do math
11. Purchase a used (two years or older) car.
12. Gazelle Intensity
13. Truth: They are horrible, greedy rip off-s that benefit owners
14. ARM
15. Truth: The relationship will be strained.
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