Across
- 2. Type of loan used to purchase or maintain a home ,land, or other types of real estate.
- 3. A formal request on paper for something.
- 4. Amount of money that a company's owner has put into it or owns.
- 7. Large amount of money ex: car loans & home mortgages.
- 9. Original amount of the loan or the money borrowed.
- 10. Interest calculated on the principal interest as well as any previously accumulated interest.
- 11. Length of time it will take for a borrower to repay the original principal and interest completely.
Down
- 1. Letter from a lender that specifies how much the lender is willing to lend you.
- 3. Anything that has current or future economic value to a business.
- 5. Fixed amount of money that must be repaid with regularly scheduled payments.
- 6. Interest calculated on the principal amount only.
- 8. A percentage of the principal the lender charges the borrower, must be paid back with original amount borrowed.