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Personal and Financial Literacy Vocabulary words for 7th grade
Flashcards
8 cards
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Practice quiz
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Questions
8
Answers
1
costs that do not change based on the amount that is used
fixed expense
asset
net worth
variable expense
2
interest paid on the initial principal and on interest earned in the past
compound interest
simple interest
fixed expense
variable expense
3
items that are owned by an individual
budget
net worth
asset
liability
4
a plan for spending
simple interest
asset
net worth
budget
5
debts that are owed by an individual
liability
asset
fixed expense
net worth
6
the value of one's assets minus one's liabilities
compound interest
net worth
liability
simple interest
7
costs that change based on the amount that is used
fixed expense
asset
variable expense
budget
8
interest paid only on the initial principle of a savings account or loan
simple interest
compound interest
variable expense
budget
