Ch 21 Vocabulary

1. Dividend: Share of the funds profits.
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2. 401(k) plan: You put a spcific portion of your salary into the plan.Employers often math this contributin, up to a specific amt or salary percentage.
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3. Individual Retirement Account: A personal retirement acct that you can put a limited amt of money yearly.
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4. Keohg plan: You can invest up to 25% of your yearly earnings up to 35000 each yr for retirement.
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5. Simpified Employee Pension: Is a simpler tax-deferred retirement plan than the keogh but one that also offers tax savings. it, too, is for the self emplyed.
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6. Endorse: Check, Sign your name on the back.
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7. Check Register: A small booklet for tracking your acct.
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8. Reconcile: A statement from your bank from your acct.
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9. Electronic funds transfer: is the transfer of money from one bank acct to another by electronic means rather than cash.
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10. Online banking: Online banking lets you manage your money from your own home computer, or from anywhere you can find online access.
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11. Credit: is a sum of money a personcan use before having to reimburst the credit lender.
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12. Application fee: an amt of moeny charged to apply for the loan.
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13. Down payment: a sum (usually a percantage of the total payment) paid at the time of the purchase.
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14. Finance charge: a fee based on the amt of moeny you owe.
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15. Annual Percentage rate: the yearly cost of the loan, expressed as a percentage.
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16. Credit Bureau: an agency that collects information on how promptly people and businesses pay their bills.
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