Financial Literacy Vocabulary

The amount of money given, regularly and for a specific purpose is

Money that a financial institution allows a person to use and pay back with interest is

What does the "r" represent in the simple interest formula?

To take money out of a bank account is

Money that is earned from work is

What formula will you use to solve compound interest? Use a STAAR chart to help you.

To put money into a bank account is to

An organized plan for spending and saving money is

What formula will you use to solve simple interest? Use a STAAR chart to help you.

Amount of money left after all the expenses are subtracted from selling an item or service is

Expenses in which the amount does change based on need or choice are

What does the "I" represent in the simple interest formula?

Additional money paid by a borrower to a lender in exchange for use of the lender's money is

What does the "t" represent in the simple interest formula?

What does the "p" represent in the simple interest formula?

Simple Interest

Banks and credit card companies are businesses the keep money safe, lend and borrow money are

Why is financial literacy important?

Allowing someone to borrow money with the agreement that it will be paid back with interest is

Taking and using money that belongs to someone else, with the agreement to pay it back is

Financial Literacy is

Expenses that occur regularly and the amount does not changes are