2nd 9wks exam

A person or organization that uses a product of service is called a

• Customer

• Debt

• Consumer

• Debt

Credit it the granting of a loan and the creation of debt.

• True

• False

Money owed to another person or company is called

The additional cost of a lender charges for borrowing their money is

• Compound interest

• Interest

• Debt

• Interest rate

There was no credit cards prior to (year)

Income is the money received for work.

• True

• False

A fixed expense occurs at various times through out the year.

• True

• False

Interest paid on interest previously earned is

• wealth

• principal

• compound interest

• interest

What is the best way to accrue compound interest?

The initial amount of money invested or borrowed is called the