Unit 18

_______ is the privilege of using someone else's money for a period of time

• sales

• credit

• debit

• budget

If you charge a purchase at the time you buy the good or service, you are using _______ credit.

• credit

• down

• finance

• sales

A(n) _______ charge account requires a customer to make payments of a fixed amount over several months

• budget

• in

• finance

• down

A(n) ________ charge is the total dollar cost of credit including interest and all other charges.

• finance

• budget

• report

• statement

A payment of part of the purchase price of a product or service is a(n) ________ payment; it usually made at the time of the purchase.

• in

• down

• up

• to the side

The _______ of a note is responsible for payment of the note if you do not pay as promise

• parents

• friends

• cosigner

• boss

The amount of a loan is called the __________.

• sales

• down

• school

• principal

The date on which a loan must be paid is the _________ date.

• sales

• report

• maturity

• capacity

A person's ability to pay a debt when it is due is called __________

• capacity

• report

• finance

• sales

Your credit ________ shows the debts you owe, how often you use credit, and whether you pay your debts on time.

• report

• billing

• cosigner

• statement