Chapter 16 Vocabulary

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Across
  1. 6. An accurate estimation of your wealth
  2. 9. Generally a loan for a more expensive item such as a car or home
  3. 12. A legal lender who loans money at high interest rates based on the value of some property you put up for collateral
  4. 13. When someone provides a service for which you pay later
  5. 17. A service offered by a credit card company that allows you to write a check
  6. 18. A person who borrows money from someone else
Down
  1. 1. A service offered to customers that has a billing time that is delayed much later than the standard time frame
  2. 2. A time frame where you may pay your credit card balance in full without incurring any interest charges
  3. 3. The total dollar amount of interest and fees you pay for the use of credit
  4. 4. The cost of credit expressed as a yearly percentage
  5. 5. A company that makes high risk consumer loans
  6. 7. Unlicensed lenders who charge illegally high interest rates
  7. 8. An established limit of credit than can be used at any interval a customer desires
  8. 10. use of someone else’s money to be paid back at a specified time in a specified manner
  9. 11. Using a credit card to get cash
  10. 14. A type of card that allow you to make purchases but you must pay the balance in full at the end of the month
  11. 15. A person or business that loans money to others
  12. 16. A state law that sets the maximum interest rate for a consumer loan