Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
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
Normal Size Small Size show me how
400 Vocabulary
PF
| Question | Answer |
|---|---|
| debt | money owed to another person or company |
| revolving credit | credit that automatically renews whenever a payment is made to reduce the debt |
| collateral | something owed (that has value) offered as security on a debt; if the debt is not repaid as agreed, the item is forfeited to the lender |
| lien | a legal claim against (or right to own ) an asset until the debt (loan) is repaid |
| appreciating asset | an asset that increases in value over time |
| equity | the increase in value of a home over time; the difference between the amount owed and what the home could be sold for |
| default | failure to repay a loan on time |
| installment credit | a loan for a fixed amount of money that that’s paid back in monthly installments |
| depreciating asset | an asset that loses value over time, such as a care that’s worth less every year |
| predatory lender | a lender who uses deceptive, unfair, or fraudulent practices on borrowers who are desperate for cash |
| credit score | a statistical number used to represent a consumer’s creditworthiness |
| credit bureau | a company that collects credit rating information and makes it available to creditors |
| principal | the original amount of a loan, the total amount borrowed before interest |
| interest | the additional cost a lender charges for borrowing their money |
| term | the amount of time, in months, that you’ll be making payments |
| depreciation | the loss of value of an asset over time |
| negative equity | when the value of an asset falls below what is owed on it |
Created by:
dupreejp
Popular Miscellaneous sets