Business Math Unit 4 Vocab

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Across
  1. 1. a currency for which the government guarantees the value
  2. 3. a document guaranteeing payment of a specific amount of money either on demand or within a designated time
  3. 7. borrower
  4. 9. lender
  5. 14. a government backed security payable in a year or less
  6. 16. property or assets used to secure a loan
  7. 18. a security with terms of 10-20 years
  8. 19. a method of payment must be accepted for public and private debts
  9. 20. the ranking of a credit history on a point scale between 300 and 850
  10. 21. the government institution that provides insurance for depositors in insured banks
  11. 23. the process of transferring money from one individual or organization to another
Down
  1. 2. the annual cost of credit
  2. 4. a government backed security payable in 2 - 10 years
  3. 5. a record of a borrower's payment of debt
  4. 6. debt without collateral
  5. 8. an agreement between two parties in which one provides goods and services understanding that payment will be made at a later date
  6. 10. a loan with collateral
  7. 11. the portion of a loan that is interest, or money paid to the borrower
  8. 12. a table detailing how much interest and how much of the principle is being paid back every month
  9. 13. a report that details credit history and financial behavior of companies and individuals
  10. 15. moving a payment from the account of the payer directly to that amount of the recipient
  11. 17. the mechanism used by a nation to provide and manage its money
  12. 22. a general increase in prices and decline in the purchasing power of money