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Section 4
section 4
7
Economics
12th Grade
04/12/2012
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Term
Installment
 Definition
Length of loan periods.
Term
Credit rating
 Definition
Is an estimate of the probability of repayment.
Term
credit bureau
 Definition
credit reporting service.
Term
finance charge
 Definition
The 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 the legal limit is usury.
Term
bankruptcy
 Definition
A company files bankruptcy when they fall under the desired amount of income, or owe too much money to operate.
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