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PF
| Question | Answer |
|---|---|
| principle | total amount owed on a car loan including taxes and fees |
| appreciating asset | an item that gains value over time like a house |
| depreciating asset | an item that loses value over time like a car |
| 2nd foundation | get out of debt |
| predatory lenders | target desperate people and offer loans they will not be able to pay off |
| debt snowball | put debts into order and pay smallest to biggest |
| home equity | a loan based on the value of your home that can be used for anything...doesn't have to be house related |