1.05 Money the American Way

Edit Answers
1234567
Across
  1. 3. The knowledge and skills necessary to be an informed consumer and manage finances effectively
  2. 5. A system by which goods and services are produced and distributed
  3. 6. An obligation of repayment owed by one party (the debtor/borrower) to a second party (the creditor/lender); in most cases this includes repayment of the original loan amount plus interest
  4. 7. A fee paid by a borrower to the lender for the use of borrowed money; typically interest is calculated as a percentage of the principal (original loan amount)
Down
  1. 1. A debt evidenced by a "note," which specifies the principal amount, interest rate, and date of repayment
  2. 2. A person or organization that uses a product or service
  3. 4. The granting of a loan and the creation of debt; any form of deferred payment