Vocab Flashcard Weeks 3 + 4 (MP3)

Front

Record of a person's money and debt handling, including credit cards and loans.

Back

Credit History

Front

Legal process for individuals/entities unable to repay debts seeking relief.

Back

Bankruptcy

Front

Amount of money borrowed for various purposes

Back

Personal Loan

Front

Loan for business investment

Back

Small Business Loan

Front

Financing agreement to drive a car without ownership.

Back

Leasing

Front

Max credit a financial institution extends on a credit card or line of credit

Back

Credit Limit

Front

Loans that don’t accrue interest until after school:

Back

Subsidized Loans

Front

Loans that accrue interest while in school

Back

Unsubsidized Loans

Front

Home loan with a fixed interest rate throughout its term.

Back

Fixed Rate Mortgage

Front

Home loan with changing interest rate

Back

Adjustable Rate Mortgage (ARM)