1.6_Your_Personal+Financial_Portfolio+%281%29 (3).xls

This coverage less a deductible provides repair or

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This coverage, less a deductible, provides repair or replacement of your car if it is stolen or vandalized, or if it’s damaged in a storm (falling trees, flooding, etc.). Comprehensive coverage is limited to the actual value of one's car at the time of the damage, not what one paid for it or what one might still owe. A measure of how much an investment grew on average each year over a multiyear period after taking into account the effects of compound interest (see below). A number that represents a person's creditworthiness. A credit score is based on past credit history and is used by lenders to determine if you are a good or bad credit risk. A FICO credit score is used by many lenders; it can range from a low of 300 to a high of 850. A reprieve or officially sanctioned postponement from payments. For instance, a college loan deferment allows you to put off payments toward a student loan for a period of time. If the loan is subsidized, no interest accrues during deferment. A company retirement plan in which the employee elects to contribute a portion of his or her pay. The employee's benefits during retirement depend on the contributions made and the investment performance of the account rather than on the employee's years of service or earnings history. A 401(k) is a popular type of defined-contribution plan. Insurance that provides partial income if you fall ill or have an accident that makes you unable to continue working at your regular employment. A periodic payment (quarterly or annually) that a company pays to its shareholders. Dividends are typically paid out of earnings. A partial payment paid in cash at the time of a purchase with the balance to be paid later. For instance, home buyers usually pay a down payment on a house and finance the remaining balance. The maximum limit to what you can be paid by your homeowners insurance policy to rebuild or repair your home if it is damaged. A fund that typically tracks a market index but trades like a stock throughout the day based on current market prices. An annual fee charged by mutual funds and exchange-traded funds (ETFs) to cover costs of running the portfolios. It is deducted from the fund's total return. One of the four types of dwelling limit coverage. Coverage in which an insurer will pay more than the stated dwelling limit on the policy. Typically the payout is “extended” to 125% of your dwelling limit coverage. The primary retirement plan for U.S. federal civilian employees hired on or after January 1, 1984. It consists of a defined benefit plan, Social Security, and a defined contribution plan called the "Thrift Savings Plan" with both employee and government contributions.
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A rare type of homeowners insurance that covers all repair and rebuilding costs, with no maximum limit.
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  • Spring '09
  • Prof.S
  • Debt, Mortgage loan, New Monthly

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