a person or organization that uses a product or service
Ramsey Classroom Ch1 FLASHCARD

Flashcard
•
Life Skills
•
12th Grade
•
Hard
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28 questions
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1.
FLASHCARD QUESTION
Front
Back
Consumer
2.
FLASHCARD QUESTION
Front
money owed to another person or company
Back
Debt
3.
FLASHCARD QUESTION
Front
the granting of a loan and the creation of debt; any form of deferred payment
Back
Credit
4.
FLASHCARD QUESTION
Front
the percentage of principal charged by the lender for use of its money
Back
Interest Rate
5.
FLASHCARD QUESTION
Front
person or entity that charges borrowers interest rates above an established legal rate
Back
Loan Shark
6.
FLASHCARD QUESTION
Front
the additional cost a lender charges for borrowing their money
Back
Interest
7.
FLASHCARD QUESTION
Front
the amount by which the value of a person’s assets exceeds or falls behind the value of their liabilities
Back
Net Worth
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