Dave Ramsey Debt Unit Test

A yearly fee that's charged by the credit card company for the convenience of the credit card

• Annual Fee

• Annual Percentage Rate (APR)

• ARM

• Balloon Mortgage

Cost of borrowing money on an annual basis; takes into account the interest rate and other related fees on a loan.

• Annual Fee

• Annual Percentage Rate (APR)

• ARM

• Balloon Mortgage

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

variable-rate mortgage; mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets.

• Annual Fee

• Annual Percentage Rate (APR)

• ARM

• Balloon Mortgage

A plastic card used to make purchases now and pay for them later.

• credit

• credit card

• credit limit

• debit card

a list of all debts organized from smallest to largest balance; minimum payments are made to all debts except for the smallest, which is attacked with the largest possible payments

• debt consolidation

• debt Snowball

• Depreciation

• finance charge

• foreclosure

a lessening in value

• debt consolidation

• debt Snowball

• Depreciation

• finance charge

• foreclosure

A fee for borrowing money, added to a monthly credit card bill.

• debt consolidation

• debt Snowball

• Depreciation

• finance charge

• foreclosure

The seizure of property from borrowers who are unable to repay their loans

• debt consolidation

• debt Snowball

• Depreciation

• finance charge

• foreclosure

Tags

CCSS.HSA.CED.A.2

CCSS.HSA.CED.A.3

a loan based on the difference between the current market value of a home and the amount the borrower owes on the mortgage

• grace period

• home equity loan

• introductory rate

• lease

a contract granting use or occupation of property during a specified time for a specified payment

• grace period

• home equity loan

• introductory rate

• lease