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Chapter 1 Key Terms

Horizontales
The charge for borrowed money generally defined as a percentage; also, the earned interest on money you save or invest
The cost of goods and services
Money put into an account intended for growth
An obligation to repay borrowed money
A federally recognized, tax-exempt organization such as a church, hospital, charity, or school that serves the public in some capacity
All the money decisions a person or family makes including earning, budgeting, saving, spending, and planning for the future
The total value of a person's assets (things owned) minus their liabilities (things owed) may be a positive or negative dollar amount
The granting of a loan and the creation of debt
Verticales
Anything you owe; a debt
Interest paid on an investment and on any interest previously earned
A person or organization that purchases a product or service
A monthly plan for how you are going to save and spend your income
Interest paid only on the principal investment
Anything of value that is owned by an individual
An unlimited amount of wants but limited resources