EAP7 - Chapter 1 Review

A person or organization that receives money from a lender with the agreement to return it later.

• savings

• borrower

• loan

A non-profit financial institution owned and controlled by its members.

• bank

• savings

• credit union

A non-profit financial institution owned and controlled by its members.

• bank

• savings

• credit union

A person or organization that loans money with the expectation of being repaid.

• bank

• lender

• credit union

An amount of money borrowed with the agreement to repay it later, usually with interest.

• loan

• interest

• credit union

Money owed to a lender or creditor, usually with interest.

• debt

• interest

• loan

The purchase of an asset to make a profit or earn income.

• savings

• investment

• stock

The percentage charged for borrowing money or the percentage earned for savings or investments.

• interest

• stock

• loan

A person who has money, property, etc.,

that is worth at least 1,000,000 dollars.

• millions

• millionaire

• million

Money given in exchange for goods or services.

• income

• savings

• payment