BTC 26.2
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| An interest rate that fluctuates or changes over the life of the loan. | Variable Rate
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| An interest rate that stays the same. | Fixed Rate
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| A portion of the total cost that is paid when a product or service is purchased. | Down Payment
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| The amount of borrowed money that is still owed and on which interest is based. | Principal
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| The total amount it costs the borrower to have the lender finance the loan. | Finance Charge
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| If a loan is backed by collateral. | Secured Loan
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| If a loan is not backed by collateral. | Unsecured Loan
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| When a credit card company obtains a court order to take part or all of a debtor's paycheck if he or she stops making payments. | Garnishment of Wages
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| When a creditor takes back or repossesses an item that you purchased on credit. | Repossess
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| Having a resemblance in appearance, character, or quantity, without being identical. | Similar
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| A part of a whole; an amount, section, or piece. | Portion
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| Cause or enable (a condition or state of affairs) to continue. | Maintain
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| Get, acquire, or secure something. | Obtain
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| Money lent from one party to another at interest. | Loan
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| A loan agreement secured by property. | Mortgage
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| A loan where interest is based on the original principal alone. | Simple Interest
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Created by:
zachary_franz
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