FBLA Introduction to Financial Math
1 byte - ANS - 8 bits
\1 gallon - ANS - 128 fl. Oz.
\1 liter - ANS - 33.814 us fluid ounces
\1 mile - ANS - 1.609 kilometers
\1 quart - ANS - 2 pints(pt)
\1cup - ANS - 8 fluid ounces
\1pint - ANS - 2 cups(c)
\3/10 net 30 - ANS - 3% discount if paid in 10 days, due in 30 days
\5 Cs of Credit - ANS - Capacity- Borrowers ability to pay back loan
Capital- Amount of money a borrower puts down. For example, if a borrower puts
down a large down payment, more likely to get mortgage
Collateral- Helps get a loan, incentive. If loan is not paid, lender can repossess
collateral
Conditions- conditions of the loan, such as APR or principal amount
Character- borrowers reputation of paying back debts
\52 - ANS - approx how many weeks in a year
\a time and a half - ANS - 1.5 times the normal wage rate
\ABA Number - ANS - 9 digit code that appears at the bottom of a check to
identify the specific financial institution (helps identify the bank); also called a
routing number
\ABA numer - ANS - An ABA number (also known as routing number or routing
transfer number) is a sequence of nine numeric characters used by banks to
identify specific financial institutions within the United States.
\Annual Yield (bond) - ANS - Bond Cost: Face Value x Percent (quoted price)
Annual Interest: Face Value x Interest Rate
Annual Yield: Annual Interest/Bond Cost
\Annual Yield (Stock) - ANS - Annual dividend per share / cost per share
\APR - ANS - annual percentage rate
\Assets - ANS - Property owned by a person or company, regarded as having
value and available to meet debts, commitments, or legacies
\Auto insurance - ANS - Factors that affect cost of this:
Gender and age
, Marital Status: married/unmarried, etc.
Where you live - more uninsured drivers/more cars cause higher premiums
Credit Score
Profession
Safety Rating
Vehicle Size
Age of Car
Likelihood of theft
Driving History
Driving Activity
\Bank Fractional Number - ANS - The first part of the hyphenated numerator in a
bank fractional routing number stands for the city/state, notes
BankersOnline.com. The second part of the numerator represents the American
Bankers Association institution identifier, and the denominator is the Federal
Reserve routing symbol
\Bank statement - ANS - A record that summarizes all the transactions with an
account over a certain time period (typically sent/produced once every month)
\Bodily Injure Liability Coverage - ANS - Helps pay for another person's physical
injury as a result of an accident for which you are liable. It can cover physical
injury, pain and suffering, and losses incurred by third parties due to the
accident.
\Bonds - ANS - Written pledge that you will be repaid your specified amount of
money plus interest, no ownership in corporation. One form is royalty. You get
your money back when the bond reaches its maturity date. Interest is paid every 6
months.
\Bounce check - ANS - When there are insufficient funds in an account, the bank
will "bounce the check" (refuse to honor it). Banks and vendors frequently charge
fees for bounced checks, sometimes exceeding the amount for which the check
was written.
\Business checks are valid for how long? - ANS - 6 months
\Cancelled Check - ANS - A check that has cleared the depositor's account and
has been marked by the bank. It is a proof of payment. If check is lost, check
cannot be used.
\Capital - ANS - The excess of a company's assets over its liabilities
\Capital Gain - ANS - Appreciation of investments. Applies to houses, stocks,
collection of coins, cars. Ex: Buy a stock at $10 and sell at $12. Capital gain is $2,
the difference
\Capital Loss - ANS - Opposite of capital gain. Loss can offset gain. Ex: Stock A,
one share goes from 10 to 15, and Stock B goes from 12 to 9. The net gain is $2, if
I sell both of them. Tax is charged on the net gain ($2 in this case). If net gain is
1 byte - ANS - 8 bits
\1 gallon - ANS - 128 fl. Oz.
\1 liter - ANS - 33.814 us fluid ounces
\1 mile - ANS - 1.609 kilometers
\1 quart - ANS - 2 pints(pt)
\1cup - ANS - 8 fluid ounces
\1pint - ANS - 2 cups(c)
\3/10 net 30 - ANS - 3% discount if paid in 10 days, due in 30 days
\5 Cs of Credit - ANS - Capacity- Borrowers ability to pay back loan
Capital- Amount of money a borrower puts down. For example, if a borrower puts
down a large down payment, more likely to get mortgage
Collateral- Helps get a loan, incentive. If loan is not paid, lender can repossess
collateral
Conditions- conditions of the loan, such as APR or principal amount
Character- borrowers reputation of paying back debts
\52 - ANS - approx how many weeks in a year
\a time and a half - ANS - 1.5 times the normal wage rate
\ABA Number - ANS - 9 digit code that appears at the bottom of a check to
identify the specific financial institution (helps identify the bank); also called a
routing number
\ABA numer - ANS - An ABA number (also known as routing number or routing
transfer number) is a sequence of nine numeric characters used by banks to
identify specific financial institutions within the United States.
\Annual Yield (bond) - ANS - Bond Cost: Face Value x Percent (quoted price)
Annual Interest: Face Value x Interest Rate
Annual Yield: Annual Interest/Bond Cost
\Annual Yield (Stock) - ANS - Annual dividend per share / cost per share
\APR - ANS - annual percentage rate
\Assets - ANS - Property owned by a person or company, regarded as having
value and available to meet debts, commitments, or legacies
\Auto insurance - ANS - Factors that affect cost of this:
Gender and age
, Marital Status: married/unmarried, etc.
Where you live - more uninsured drivers/more cars cause higher premiums
Credit Score
Profession
Safety Rating
Vehicle Size
Age of Car
Likelihood of theft
Driving History
Driving Activity
\Bank Fractional Number - ANS - The first part of the hyphenated numerator in a
bank fractional routing number stands for the city/state, notes
BankersOnline.com. The second part of the numerator represents the American
Bankers Association institution identifier, and the denominator is the Federal
Reserve routing symbol
\Bank statement - ANS - A record that summarizes all the transactions with an
account over a certain time period (typically sent/produced once every month)
\Bodily Injure Liability Coverage - ANS - Helps pay for another person's physical
injury as a result of an accident for which you are liable. It can cover physical
injury, pain and suffering, and losses incurred by third parties due to the
accident.
\Bonds - ANS - Written pledge that you will be repaid your specified amount of
money plus interest, no ownership in corporation. One form is royalty. You get
your money back when the bond reaches its maturity date. Interest is paid every 6
months.
\Bounce check - ANS - When there are insufficient funds in an account, the bank
will "bounce the check" (refuse to honor it). Banks and vendors frequently charge
fees for bounced checks, sometimes exceeding the amount for which the check
was written.
\Business checks are valid for how long? - ANS - 6 months
\Cancelled Check - ANS - A check that has cleared the depositor's account and
has been marked by the bank. It is a proof of payment. If check is lost, check
cannot be used.
\Capital - ANS - The excess of a company's assets over its liabilities
\Capital Gain - ANS - Appreciation of investments. Applies to houses, stocks,
collection of coins, cars. Ex: Buy a stock at $10 and sell at $12. Capital gain is $2,
the difference
\Capital Loss - ANS - Opposite of capital gain. Loss can offset gain. Ex: Stock A,
one share goes from 10 to 15, and Stock B goes from 12 to 9. The net gain is $2, if
I sell both of them. Tax is charged on the net gain ($2 in this case). If net gain is
