Personal Finance - Chapter 16

The use of someone else's money, borrowed now with the agreement to pay it back later

• Credit

• House

• Capital

• Contract

A person who borrows money from others

• Debtor

• Creditor

• Capital

• Broker

True or False: Debt must be paid.

• True

• False

One of the earliest forms of credit was the account at the __________________.

• General Store

• Graduation Rate

• Grace Period

• Service Credit

The value of property you possess after deducting your debts

• Capital

• Investing

• Revenue

• Net Pay

True or False: You need to have a job and earn an income in order to make loan payments.

• True

• False

Which of the following is NOT an example of capital?

• Bank Accounts

• Real Estate

• Investments

• Shoe Collection

The least amount you may pay a month under your credit agreement

• Minimum Payment

• Line of Credit

• Debt Consolidation

• Collateral

Property pledged to assure repayment of a loan

• Collateral

• Capital

• Eviction

• Checkbook Register

Amount borrowed

• Principal

• Minimum Payment

• Grace Period

• Property