Financial Words You Should Know: Over 1,000 Essential Investment, Accounting, Real Estate and Tax Words

By Michele Cagan; P.T. Shank | Go to book overview

BANKING

Add-on CD (Certificate of deposit)

A CD that allows the depositor to increase the balance in his account without altering other terms of the account agreement, particularly the interest rate.

See also: Certificate of deposit

When Yvonne came into some unexpected money, she put it into heradd-on
CD
so she could earn even more interest in the account.


Adjusted balance method

A way to calculate interest or finance charges, based on the final account value at the end of a specified period after all transactions are accounted for. Normally used for bank savings accounts.

See also: Interest

Courtney used theadjusted balance methodat the end of every month to
track the interest earned on her bank statement
.


American depository receipt (ADR)

A certificate issued by a U.S. bank that represents shares in a foreign corporation whose stock trades on a U.S. exchange. Certificates are valued in U.S. dollars. Makes it easier for Americans to invest in foreign companies, though it does not reduce the investment risks.

See also: Exchange, Stock

David was able to invest in some of the Japanese corporations that interested
him the most by purchasing
ADRs.


Average daily balance method

A method for calculating finance charges, based on the average account balance each day. Beneficial for consumers because payments made during the period lower the daily balance. Often used by store credit cards.

See also: Credit card, Previous balance method

Angie loved the fact that her favorite store used theaverage daily balance
method
on its card so she felt less guilty about charging her purchases.


Balloon payment

Very large final installment due at the end of a loan period. Typically, balloon payments are associated with mortgage and car loans. The previous monthly payments are much smaller than they would be with a standard loan.

See also: 5-1 Hybrid ARM, Mortgage

Many borrowers have trouble making theirballoon paymentsin a depressed
real estate market
.

-35-

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Financial Words You Should Know: Over 1,000 Essential Investment, Accounting, Real Estate and Tax Words
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Acknowledgments ix
  • Introduction xi
  • Accounting 2
  • Banking 35
  • Bonds 51
  • Economy 69
  • Financial Planning 90
  • Fund Investing 115
  • Investing 135
  • Real Estate 177
  • Retirement 192
  • Stocks 201
  • Taxes 223
  • Index 239
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