Credit

1. Asset accepted as security for a loan
3. Sum of money lent or invested on which interest is paid
5. money given to another party in exchange for repayment of the loan principal amount plus interest
6. Loan that doesn't require any type of collateral
8. Interest rate that stays the same for the life of the loan
10. A preapproved loan that a bank or financial institution lends to a borrower
14. score A three digit number, typically between 300 and 850, designed to represent your credit risk
15. the amount of money the owner of an asset would be paid after selling it and any debts associated with the asset were paid off
16. resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit
17. rate percentage rate a bank or other lender charges to borrow money
18. a record of your ability to pay back your debts, whether it be credit card bills, student loans, or mortgage

2. a number that represents the total yearly cost of borrowing money, expressed as a percentage of the principal loan amount
4. loans that are secured by a specific form of collateral, including assets such as property and vehicles
7. A type of loan in which a fixed amount is borrowed and then paid back over a specific period of time
9. A person who borrows money from others, and the money borrowed is called debt
11. A person - such as a parent, close family member, or friend - who pledges to pay back the loan if you do not
12. Ability to borrow money and agreement to pay it back
13. interest rate that changes over time
14. Also known as lenders, a person or company to whom money is owed
19. Amount of time to pay back a loan
20. a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries