CPB 2.2

What is the percentage rate calculated in such a way as to make it easy to compare different interest rates?

Interest rates that stay the same for the life of a loan are called _____ ________ _____.

A yearly negotiable fee for having a credit card is a _______ fee.

If you use a credit card and pay off the _______ each month you pay no interest.

An origination fee is when a ____ may charge you to take out a loan.

When you pay down on a house you are expected to pay at least _______ _______ or you have to take out mortgage insurance.

When you pay back your loan in monthly payments it is called ___________ credit.

A very poor source for a loan would be which of the following?

• bank

• pay day loan company

• credit union

Interest rates that change during the life or loan based on changes in the interest rates are called _________ interest rates.

The longer the loan term, the lower your monthly payments but the higher the amount of ________ you must pay.