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Chapter 16 Unit 8

Vocabulary Words

QuestionAnswer
collateral something used as security for a loan
cosigner someone who signs a loan contract with a borrower and promises to pay if the borrower doesn't pay
dividend money earned as profit by a company and divided among people who invested money in the company
fixed interest rate a percentage that doesn't change
lien a claim on property or possessions for payment of a debt
promissory note a written promise to pay back a loan or money you owe
qualify to show you are able to take on a responsibility, job, or task
variable interest rate a percentage that changes or varies
verification proof of the truth
Created by: MarieElyn
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