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Ch. 4 Terms
N/A
10
Finance
Not Applicable
10/21/2013
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Term
Annual Fee
 Definition
Fee charged for use of credit cards
Term
APR
 Definition
The cost of borrowing money per year
Term
Credit
 Definition
Money owed
Term
Debt Snowball
 Definition
Method of debt repayment
Term
Depreciation
 Definition
Decline in value
Term
Tax Deduction
 Definition
Deductible expenses
Term
Creditor
 Definition
Lender of money
Term
Debtor
 Definition
Borrower of money
Term
Interest
 Definition
Price for borrowing money
Term
Principal
 Definition
Amount originally borrowed
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