Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
Know
remaining cards
Save
0:01
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Business - Ch 8

Borrowing

TermDefinition
Borrowing Getting a sum of money from a financial institution which must be paid back with interest.
Loan A sum of money that is borrowed from a financial institution and then paid back in instalments.
Mid-term loan Repaid over one to five years, with interest.
Long-term loan Repaid over more than five years, with interest.
Collateral Something of value that the borrower promises to give to the lender in the event of non-payment.
Guarantor A person who agrees to pay the loan if the applicant is unable to pay.
Mortgage A loan for a house or other property, repaid in instalments over a long period of time, such as 20 or 30 years.
Credit rating History of paying back borrowed money.
APR The annual rate charged on a loan.
Hire purchase Allows a person to use a product while they are paying it off.
Leasing Using goods for a short period of time without ever owning them (renting).
Debt A sum of money that is owed or overdue.
Arrears An account where payments are late or unpaid.
Created by: leahddoherty