1.2 Vocab Flashcards
1
Q
Credit
A
the granting of a loan and the creation of debt;
any form of deferred payment
2
Q
the granting of a loan and the creation of debt;
any form of deferred payment
A
Credit
3
Q
Interest rate
A
the percentage of principal charged by the lender for use of its money
4
Q
the percentage of principal charged by the lender for use of its money
A
Interest rate
5
Q
Loan shark
A
person or entity that charges borrowers interest rates above an established legal rate
6
Q
person or entity that charges borrowers interest rates above an established legal rate
A
Loan shark
7
Q
Interest
A
the additional cost a lender charges for borrowing their money
8
Q
the additional cost a lender charges for borrowing their money
A
Interest
