Open line of credit that can be used for any purchases as long as you’re under the limit; payments vary monthly based on size of the debt.
Loan used to finance a specific purchase for a specific amount of time’ regular payments pay the interest and portion of the principal.
Debt NOT tied to a specific asset or that cannot be repossessed if payments are not made.
Debt tied to a specific tangible asset that can be used as collateral and reposed if payments are not made.
Something valuable that the lender can take as payment if you can’t pay back your loan (like a house or car).
The amount of time you have to repay your principal.
The amount you borrow.
The percentage charged for the privilege of borrowing money.
An agreement where you are credited with a fixed amount (usually of money) for a fixed period of time, usually with interest.
Any arrangement where you get “stuff” (money, goods, services), and agree to pay for it in the future.
A credit card is an example of
An Auto loan is an example of
A mortgage is an example of
With a variable rate interest rates _____
A mortgage is an example of
Which refers to an open line of credit that can be used for any purchase as long as you're under the credit limit
Teachers: Create FREE classroom games with your questions Click for more info!
©2007-2024 Review Game Zone | About | Privacy | Contact | Terms | Site Map
©2007-2024 Review Game Zone | About | Privacy | Contact | Terms | Site Map