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Money Matters Chapter 4 Semester Exam Review

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

Content:
Definitions:
0. A tax on the poor and people who can%27t do math
1. The key to building wealth (according to millionaires)
2. A product agressively marketed to consumers
3. The best way to buy a car.
4. A step to getting out of debt.
5. Myth: I%27ll take out a 30 year mortgage %26 pay it like a 15
6. Number one target of credit card companies today
7. Mortgage loans where the interest rate is adjusted
8. A widely held, but mistaken belief
9. Myth: By co-signing a loan, I am helping out a friend
10. Amount that Payday lending loans costs the consumer
11. Baby Step 2
12. First charge card in the US
13. Myth: If I pay my credit card off every it%27s ok to use it
14. Type of mortgage that Dave recommends
15. Myth: You can get a good deal on a new car.

Answers:
0. depreciation
1. Truth: A new car loses 70%25 of its value in the first 4 years.
2. 12-18%25
3. Truth: Don%27t go into debt for emergencies.
4. Truth: Driving a used car is what the typical millionaire does
5. Teens
6. Paradigm shift
7. Fixed 15 year
8. Truth: They are horrible, greedy rip off-s that benefit owners
9. Gazelle Intensity
10. 400%25 or more annually
11. debt
12. Debt consolidation
13. Quit borrowing money!
14. Diner%27s Club
15. Home Equity Loan
.