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Chap.7 Vocabulary
Question | Answer |
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Credit Card | A vista or debit card that is used to purchase goods and service. |
Charge Account | An existing line of credit, often at particular business. |
Finance Charge | Intrest that is charged to the credit account holder. |
Unpaid-Balance Method | Computing the finance charge on a credit account based on the portion of previous balance. |
Average-Balance Method | Computing the finance charge on a credit account based on the average at the end of each day of the billing period. |
Account Statement | A bank statement that shows all deposits, withdrawals,and interest credited to an account. |