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Money Matters Chapter 4 Semester Exam Review

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

Content:
Definitions:
0. Loan in which the equity in the home is used as collateral
1. Myth: You can get a good deal on a new car.
2. The typical millionaire drives this type of car
3. A widely held, but mistaken belief
4. A product agressively marketed to consumers
5. Mortgage loans where the interest rate is adjusted
6. The key to building wealth (according to millionaires)
7. First charge card in the US
8. Myth: it is wise to take out an ARM mortgage..
9. Myth: Leasing a car is what sophisticated people do
10. Combining separate debt payments into a single payment
11. Most expensive way to finance a new car
12. Myth: Car payments are a way of life
13. Number one target of credit card companies today
14. Myth: If I pay my credit card off every it%27s ok to use it
15. Amount that Payday lending loans costs the consumer

Answers:
0. Home Equity Loan
1. Truth: They are horrible, greedy rip off-s that benefit owners
2. leasing
3. Staying debt free
4. Truth: You spend 12-18%25 more when you use credit
5. Purchase a used (two years or older) car.
6. Truth: Life happens and something else will be more impt.
7. Paradigm shift
8. Truth: It is a tax on the poor and on people who can%27t do math
9. Gazelle Intensity
10. Quit borrowing money!
11. ARM
12. myth
13. Truth: A new car loses 70%25 of its value in the first 4 years.
14. depreciation
15. Debt consolidation
.