4th 12 Flashcards

1
Q

is a legal binding contract for a specific period of time

A

leasing an apartment

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2
Q

often displayed by drama addicts and poor planning

A

management by crisis

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3
Q

cash taken from an individuals account every month

A

auto payments

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4
Q

fundamental change in approach or underlying assumptions

A

paradigm shift

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5
Q

a range of investments held by a person

A

portfolio

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6
Q

the most expensive version of financing

A

leasing a car

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7
Q

oversized amount due at the end of a mortgage or commercial loan

A

balloon payment

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8
Q

drops in 18-28% in the first year

A

brand new car

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9
Q

the difference between current market value and what is owed

A

equity

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10
Q

combining several loans into a new loan and paying more interest

A

debt consolidation

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11
Q

biggest wealth builder- money received regularly through work or investments

A

income

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12
Q

main goals are to protect consumers and ensure a competitive market

A

federal trade commission

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