FM Chp. 4 Vocab Quiz

Credit that automatically renews whenever a payment is made to reduce the debt.

• Credit Score

• Collateral

• Revolving Credit

• Lien

The increase in value of a home over time.

• Equity

• Collateral

• Principal

• Term

When the value of an asset falls below what is owed on it.

• Negative Equity

• Depreciating Asset

• LIen

• Revolving Credit

An asset that increases in value over time.

• Equity

• Installment Credit

• Interest

• Appreciating Asset

A statistical number used to represent a consumer's credit worth.

• Principal

• Credit Score

• Equity

• Credit Bureau

Failure to repay a loan on time.

• Negative Equity

• Lien

• Default

• Depreciation

The loss of value of an asset over time.

• Debt

• Depreciation

• Term

• Negative Equity

The additional cost a lender charges for borrowing their money.

• Principal

• Depreciating Asset

• Interest

• Term

Tags

CCSS.7.RP.A.3

A legal claim or right to own against an asset until the debt is repaid.

• Interest

• Collateral

• Predatory Lender

• Lien

Tags

CCSS.L.11-12.6

CCSS.L.9-10.6

CCSS.W.11-12.2D

CCSS.W.9-10.2D

CCSS.W.8.2D

The original amount of a loan; the total amount borrowed.

• Term

• Debt

• Interest

• Principal

Tags

CCSS.7.RP.A.3