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Chapter 18 Vocab

Terms

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A legal process that allows part of your paycheck to be withheld for payment of a debt
Garnishment
The remaining credit available to you. Your credit limit minus the amount you have already spent
Unused credit
A partial refund of an amount spent.
Rebate
Loans for which the interest rate does not changeover the life of a loan
Fixed-rate Loans
The interset rate that banks offer to their best business customers, such as large coorporations
Prime Rate
The interset computed on the amount borrowed (or Saved)only without compounding
Simple Interest
The amount borrowed, or the unpaid portion of the amount borrowed, on which the borrower pays interest
Principle
Part of the purchase price paid in cash up front, reducing the amount of the loan
Down Payment

Deck Info

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