argylls 8 cbking Word Scramble
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Term | Definition |
credit | receive cash, goods or services now and pay for them on a later date. |
consumer credit | A debt that someone incurs for the purpose of purchasing a good or service. |
creditor | a person or company to whom money is owed. |
closed-end credit | is a type of credit that should be repaid in full amount by the end of the term |
open-end credit | A pre-approved loan between a financial institution and borrower that may be used repeatedly up to a certain limit |
line of credit | an amount of credit extended to a borrower. |
grace period | a period of time after a payment becomes due |
finance charge | is any fee representing the cost of credit |
net income | is an entity's income minus cost of goods sold, expenses and taxes for an accounting period. |
annual percentage rate | a single percentage number that represents the actual yearly cost of funds over the term of a loan |
collateral | something pledged as security for repayment of a loan |
simple interest | A quick method of calculating the interest charge on a loan. |
minimum monthly payment | is the lowest amount of money that you are required to pay on your credit card statement each month |
credit rating | an estimate of the ability of a person or organization to fulfill their financial commitments, based on previous dealings. |
cosigning | The act of signing for another person's debt which involves a legal obligation made by the cosigner |
bankruptcy | the state of being bankrupt. |
finance | the management of large amounts of money |
title | a name that describes someone's position or job |
portion | to have tastes way out of proportion to one's financial means |
pledged | give as security on a loan. |
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