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1、Module 5 Money and Finance,Gdut,Functions of Money,Medium of exchange A unit of account: measuring the value of goods and services A temporary store of value,Finance,The management of money 财务管理；财政 Ministry of Finance财政部门; Money used to support an undertaking, fund: 资金 finances the money that an org
2、anization or person has, and the way that they manage it 财源，财力，财务状况V：fund，to provide money for a project,Contents,Money expression A bank loan A culture of debt Choosing an investment Company finance Business costs,Money expression,Money often costs too much. Ralph Waldo Emerson, EssayistIts expensi
3、ve to borrow money. Pursuing money only makes you neglect the more important things in life.,Invoice,invoice sb (for sth) | invoice sth (to sb/sth) to write or send a bill for work you have done or goods you have provided Be invoiced for the goods N. list of goods sold or services provided with the
4、price(s) charged, esp sent as a bill Compare: bill, check; receipt, voucher,A bank loan,A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower. In a loan, the borrower initially receives or borrows an
5、amount of money, called the principal (本金), from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time. Typically, the money is paid back in regular installments, or partial repayments. The loan is generally provided at a cost, referred to as intere
6、st on the debt, which provides an incentive for the lender to engage in the loan.,Types of loans,Secured loan担保贷款: a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan. Eg: mortgage loan Unsecured loan无担保贷款: monetary loans that are not secured against t
7、he borrowers assets. Eg: credit card debt Demand loan活期借款: short term loans (typically no more than 180 days) that are atypical in that they do not have fixed dates for repayment and carry a floating interest rate which varies according to the prime rate. They can be “called“ for repayment by the le
8、nding institution at any time. Demand loans may be unsecured or secured.,Security for a loan,Mortgaged property A car / house: mortgage loan Borrowers do not have a clear title over it and cannot sell it without the lenders consent. A guarantor A person, the guarantor, agrees to pay back the debt if
9、 the borrower cant or wont.,Useful Terms,Outgoing (日常开支): the money that you have to spend regularly, for example on rent or food Security (抵押品): jewelry, insurance policies, real estate, etc that can be used to guarantee that one will pay back borrowed money or keep a promise, e.g. lend money on se
10、curity. Civil Service (政府机关)/Civil or Public Servant (公务员): Body of government employees entrusted with the administration of the country, and mandated to carry out the policy of the government. Blue-chip stocks (蓝筹股): Stocks issued by large companies are called blue chip stocks. Because the compani
11、es are well established, with somewhat predictable earnings, their stock prices tend to fluctuate less than other equities and thus have relatively stable prices. These companies often pay steady dividends, giving the investor income in addition to the potential for capital appreciation.,A culture o
12、f debt,Alan Greenspan: American economist served as Chairman of the Federal Reserve of the United States from 1987 to 2006.,Useful Terms,Remortgaging (再抵押): A remortgage (also known as refinancing) is the process of paying off one mortgage with the proceeds (收益) or earnings from a new mortgage using
13、 the same property as security. Often the purpose of switching is to secure a more favorable interest rate from a different lender. Down-payment (定金/首期款): a deposit or first installment on something before the full amount is paid. Negative equity (负资产): Negative equity occurs when the value of an as
14、set used to secure a loan is less than the outstanding balance on the loan. In the United States, assets (particularly real estate, whose loans are mortgages) with negative equity are often referred to as being “underwater“, and loans and borrowers with negative equity are said to be “upside down“.,
15、Equity: finance the money for business activities (capital) that a company obtains by selling shares rather than from loans:股本 to issue/raise equity an equity interest/stake (in sth) equity holdings/investments equity markets/prices/values an equity analyst/investor/trader,2. (Finance ; Stock Exchan
16、ge ) equities pl. shares in companies, especially ordinary shares; the business of trading shares:普通股票 to buy/hold/invest in/sell/trade equities,3. (also home equity, especially in AmE) U) the value of a property after all debts have been paid:抵押资产的净值 Equity = assets- liabilities They have 10 years
17、of mortgage payments left and about $75 000 equity in their home.,Home equity loan （房屋净值贷款）,a type of loan in which the borrower uses the equity in their home as collateral (抵押物). useful to finance major expenses such as home repairs, medical bills or college education. A home equity loan creates a lien (扣押权) against the borrowers house, and reduces actual home equity. Lien：right to keep sbs property until a debt owed in connection with it (for repair, transport, etc) is paid,
