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Molinari Borrow

TermDefinition
credit promise to pay later for the purchase of goods or services without the actual transfer of money
principal amount borrowed, plus interest over a certain period of time
APR annual percentage rate; total cost of credit as a yearly percentage
collateral property or cash the bank will take if loan is not paid back
interest specified amount of money a borrower must pay a lender for the use of borrowed fund
FICO score a personś credit score calcuated with software by Fair Isaacs Corporation (FICO)
Created by: cmolinar
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