PF Unit 4 Test

Front

Value of property you own such as bank accounts investments real estate, after deducting debts.

Back

Capital

Front

The use of someone else's money borrowed now and agreed to pay back later.

Back

Credit

Front

Property pledged to assure repayment of a loan.

Back

Collateral

Front

The total dollar amount of all interest and fees you pay for credit.

Back

Finance Charge

Front

Established amount that can be borrowed on demand with no collateral.

Back

Line of Credit

Front

Open ended credit

Back

Borrower can use credit up to a stated limit

Front

APR

Back

Cost of credit expressed as a yearly percentage.

Front

Closed end credit

Back

loan for a specific amount that must be repaid in full.

Front

Finance Company

Back

organization that makes high-risk consumer loans

Front

Pawnbroker/ Pawnshop

Back

Legal business that makes high-interest loans based on the value of personal possessions.