Consumer p4

puggy814's version from 2017-06-13 00:30


Question Answer
cost of borrowing money on an annual basis: takes into account the interest rate and other related fees on a loanannual percentage rate
a decrease or loss in valuedepreciation
a detailed report of an individual's credit historycredit report
time frame that a loan agreement is in force and before or at the end of which a loan should either be repaided or renegotitated for another term loan term
type of card issued by the bank that allows users to finance a purchase credit card
a measure of an individual credit risk calculated from a credit report using a standarized formulacredit score
a yearly fee that's charged by the credit card company for using the credit cardannual fee
a prefured method os debt repayment debt snowball


  you must establish credit in order to buy a house: false
  if u are a victim of idenfity theft , u are only responsible for paying back half of the debt: false
Question Answer
which of the following is not a factor in determing a fico score ?paying cash for all purchases
  which is not a good idea for getting out of debt: borrowing money from ur parents to pay it off
  which could not be done with a debit card but can be done with a credit card ?: go into debt

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