Vocabulary -Loans and Interest

What is a Loan Shark?

• Made without an asset given as security.

• A loan from a bank for a specified amount that has a specified repayment.

• Is debit that is backed by collateral to reduce the risk associated with lending.

• A moneylender who charges extremely high rates of interest.

What is a Monthly Payment?

• A loan from a bank for a specified amount that has a specified repayment.

• What you pay to the lender each month to repay your loan.

• A rate on a loan or security that fluctuates over time because it is based on an underlying benchmark interest rating.

• Made without an asset given as security.

What is Interest?

• The state of wanting to know or learn about something or someone.

• Something that is Is repaid in regular scheduled payments.

• Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.

• They are used to buy a home or to borrow money against the value of a home you already own.

What is a loan term?

• A moneylender who charges extremely high rates of interest.

• Is debit that is backed by collateral to reduce the risk associated with lending.

• A loan from a bank for a specified amount that has a specified repayment.

• The state of wanting to know or learn about something or someone.

What are installment loans?

• Something that is repaid in regular scheduled payments.

• Is secured by collateral of specified real estate property,

• s an unchanged rate charged on a liability.

• Made without an asset given as security.

What is a variable rate?

• What you pay to the lender each month to repay your loan.

• Is an unchanged rate charged on a liability.

• A loan from a bank for a specified amount that has a specified repayment.

• A rate on a loan or security that fluctuates over time because it is based on an underlying benchmark interest rating.

What is a fixed rate?

• Is an unchanged rate charged on a liability.

• Is repaid in regular scheduled payments

• Is debit that is backed by collateral to reduce the risk associated with lending.

• What you pay to the lender each month to repay your loan.

What is a mortgage?

• A floating interest rate

• It's a monetary loan that is repaid in regular payments over a set period of time.

• a legal agreement by which a bank or other creditor lends money at interest in exchange for taking the title of the debtor's property,

• Someone who charges extremely high rates of interest, typically under illegal conditions

What is secured debt?

• A debt that is backed by collateral to reduce the risk associated with lending.

• What you pay to the lender each month to repay your loan

• A loan that is not backed by collateral.

• A form of consumer debt that is repaid over time in regularly scheduled intervals.

What is unsecured debt?

• Loans that are not backed by collateral.

• A form of consumer debt that is repaid over time in regularly scheduled intervals.

• a legal agreement by which a bank or other creditor lends money at interest in exchange for taking the title of the debtor's property.

• money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.