H&R Block Challenge Test 100% Verified Pass

H&R Block Challenge Test 100% Verified Pass interest rate the amount you pay or earn for borrowing or loaning money compound interest interest on interest, basically interest plus time equals interest on your interest which equals increasing amounts of money NSF fee charged by the bank because you do not have enough money to cover the check/charge returned check fee charged by the person/company you wrote the check/made the debit card charge because you did not have sufficient funds to cover the check/charge overdraft protection feature you can get on a bank checking count that links your checking account to your credit card/savings account. if you have check/charge bounce, the bank will charge you a small fee and use your credit card/savings account to cover the check/charge credit utilization the percentage of your credit you are using credit utilization percent the total amount you owe divided by the total amount of your credit which two factors determine 70% of your credit rating? credit card utilization % and your payment history what is a credit report? how much you owe and how much credit you have. 7 year history of your payments and any loans you have as well as any unpaid taxes you have been sued for (tax lien) and now have your wages taken right out of your check which is bankruptcy who is responsible for checking the accuracy of your credit report? you how long does negative information remain on your credit record? 7 years what sort of jobs will possibly not hire you if you have a poor credit rating? why? financial industry because they fear you will steal or commit fraud. government and law enforcement because they fear you will sell secrets and take bribes how does your credit score affect your costs and interest rate for borrowing? just like with scales, the higher your credit the lower your costs, the lower your credit, the higher your costs. they work together in tandem. what is the best way to build your credit? get a credit card at 18, charge 19%-30% of your credit limit per month, pay it all off every month on time. inflation an increase in the price of good or services. it is the tendency in a healthy economy for good and services to gradually increase in price over time mutal fund a portfolio (basket/group) of stocks managed (bought, sold and held) by a real live person or a team of people. higher fees and expenses index fund a portfolio of stocks typically managed by a computer program. it buys a particular kind of stock or a slice of the whole stock market. very low fees. this is your best choice for retirement when you are young because it is easy, cheap, and performs very well. bonds a relatively safe and cheap investment but it does not grow your money very well. good choice after you retire. a tiny piece of government debt - a city, state, or the federal government will borrow money to build something stocks tiny piece of a company dividend you portion of the proft the company made that year. older larger companies are the ones that pay dividends potential consequential for not having car insurance car insurance: you'll pay for the repair of your car, any injuries you sustain. if it's your fault, you will pay for the injuries of your passengers and all the people in the other car,a as well as repairs to the other car. if the police are called, you'll be ticketed, your car may be impounded, and you may be arrested. you can be sued for any damages you can't pay and the judges may garnish your wages until the money is paid off. also, your car insurance increases dramatically if you allow it to lapse