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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: I%27ll take out a 30 year mortgage %26 pay it like a 15
2. Myth: Home equity loan can be used for Emergency Fund
3. Living in today%27s society without debt requires this
4. The key to building wealth (according to millionaires)
5. Myth: Payday companies are a service for the poor
6. Myth: I am helping my friend if I loan them money.
7. Amount that Payday lending loans costs the consumer
8. Myth: The lottery will make you rich.
9. The best way to buy a car.
10. Number one target of credit card companies today
11. Myth: Car payments are a way of life
12. Use this to help get you out of debt!
13. A tax on the poor and people who can%27t do math
14. First charge card in the US
15. Myth: You can get a good deal on a new car.

Answers:
0. depreciation
1. Truth: Leasing is the most expensive way purchase a car
2. myth
3. 12-18%25
4. Lottery
5. Debt consolidation
6. Home Equity Loan
7. Gazelle Intensity
8. Staying debt free
9. leasing
10. The debt snowball
11. Truth: Driving a used car is what the typical millionaire does
12. 400%25 or more annually
13. Purchase a used (two years or older) car.
14. ARM
15. Diner%27s Club
.