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Money Matters Chapter 4 Semester Exam Review

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Keywords: , , , , , , online teaching

Content:
Definitions:
0. First charge card in the US
1. Living in today%27s society without debt requires this
2. The best way to buy a car.
3. Myth: it is wise to take out an ARM mortgage..
4. A product agressively marketed to consumers
5. The typical millionaire drives this type of car
6. Myth: I am helping my friend if I loan them money.
7. Combining separate debt payments into a single payment
8. Use this to help get you out of debt!
9. Number one target of credit card companies today
10. A tax on the poor and people who can%27t do math
11. A step to getting out of debt.
12. Mortgage loans where the interest rate is adjusted
13. Myth: Car payments are a way of life
14. When using credit, one spends this much more
15. Myth: I%27ll take out a 30 year mortgage %26 pay it like a 15

Answers:
0. Purchase a used (two years or older) car.
1. Truth: You will end up being responsible for the loan.
2. The debt snowball
3. Staying debt free
4. Truth: Driving a used car is what the typical millionaire does
5. Truth: It is a tax on the poor and on people who can%27t do math
6. Truth: You will be moving when they foreclose on you
7. 400%25 or more annually
8. Truth: A debit card will do all of that
9. ARM
10. myth
11. Truth: The relationship will be strained.
12. Truth: They are horrible, greedy rip off-s that benefit owners
13. Fixed 15 year
14. Lottery
15. leasing
.