Interest Rates 1
A loan to buy real estate
mortgage
the interest charge on borrowing that's calculated using an original principal amount only and an interest rate that never changes.
simple interest
a tax paid to a governing body for the sales of certain goods and services
sales tax
3 C's of Credit
capacity, character, and collateral
financial services providers that offer a range of simple transactions and consumer finance products, such as check cashing, money orders, electronic bill payment and small loans.
Check-Cashing store
The financial total amount it cost per year to use credit calculations per year
APR
earning returns on both your original investment and on returns you received previously
compound
a levy on the estate of a person who has died
estate tax
what is a credit report
a statement that has information about your credit activity and current credit situation
a loan of short duration, usually two weeks, with exorbitant interest rates.
payday loan store
what you pay to the lender each month to repay your loan.
monthly payment
the interest rate doesn't fluctuate during the fixed rate period of the loan.
fixed interest
a type of tax governments impose on income generated by businesses and individuals within their jurisdiction
Income tax
something pledged as security for repayment of a loan, to be forfeited in the event of a default
collateral
a financial institution licensed to receive deposits and make loans
Bank
an agreement between you and a lender that gives the lender the right to take your property if you fail to repay the money you've borrowed plus interest.
Mortagage.
set of rules or concepts that govern how people satisfy their unlimited wants with their limited resources
principle
a tax paid on property owned by an individual or other legal entity, such as a corporation
property tax
the ability to borrow money or access goods or services with the understanding that you'll pay later
credit
credit union
an interest rate on a loan or security that fluctuates over time because it is based on an underlying benchmark interest rate or index that changes periodically.
variable interest
an accounting method for spreading out the costs for the use of a long-term asset over the expected period the long-term asset will provide value
Amortization
a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases.
Regressive
a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses
student loan
where can i go to develop a financial history and be a mmeber-owner of the financial institution.
credit union