Managing My Money Glossary
Glossary of terms used in Managing My Money.
Saturday, 20 April 2024, 5:09 AM
Site: Open Learning
Course: Managing my money (MMM_1)
Glossary: Managing My Money Glossary
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Annual Equivalent Rate (AER)AER or Annual Equivalent Rate is the rate of interest on savings products calculated to take into account different payment patterns. |
Annual Percentage Rate (APR)APR or Annual Percentage Rate is a summary figure for comparing debt costs which bring together interest rates and other charges. |
AnnuityA type of investment where the investor pays a lump sum and in return receives an income paid either for a set period or, as in the case of most pensions, for the rest of their life. Once the investment is made, they cannot change their mind or get back their lump sum. |
AssetsEverything that a person owns that has a monetary value (e.g. property, investments or cash). |