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section 4
aisdh
7
Economics
12th Grade
04/12/2012
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Term
Installments
 Definition
principal and interest are divided into equal amounts
Term
credit rating
 Definition
estimation of the probability of repayment
Term
credit bureau
 Definition
credit reporting service
Term
finance charge
 Definition
total cost of credit expressed in dollars and cents.
Term
annual percentage rate
 Definition
total cost of credit expressed as a yearly percentage
Term
usury
 Definition
charging interest above a certain limit
Term
bankruptcy
 Definition
legal declaration of inability to pay debts
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