credit unit prep

Front

Interest can be defined as:

Back

the amount owed for borrowing money

Front

APR stands for

Back

annual percentage rate

Front

Before renting an apartment, you should consider all of the following except: The safety of the area around the apartment, The location of the apartment, The amount of the rent.

Back

The interest rate

Front

Both an auto loan and a mortgage are examples of a secured debt.

Back

True

Front

The longer the loan term the less total interest you pay.

Back

False

Front

If my credit score is low at a 400, should my interest be high or low?

Back

High Interest

Front

Are the terms of a loan always consistent for the length of the loan?

Back

False

Front

Which of the following would you expect to be asked about on an application for a personal loan? Age, weight, employment status, Current health status

Back

employment status

Front

If you are applying for a loan and own a house - you have....

Back

Collateral

Front

You are applying for a loan and have always made payments on time.

Back

Character