Across
- 4. A number that shows how responsible you are at paying back borrowed money.
- 8. The extra percentage you pay the lender for borrowing money.
- 11. An interest rate that stays the same for the entire loan.
- 13. Something valuable, like a car or house, promised to the lender if you can’t pay.
- 16. is the time after the payment due date during which no penalties are imposed.
- 17. A specific amount of money borrowed, with interest from a lender, such as a bank or individual, with a legal agreement to pay back at a specific time, with a specific interest rate. A transaction is between a lender and a borrower.
- 19. Money borrowed to pay for college or trade school, often with low interest.
- 20. A short-term, high-interest loan, usually due on your next paycheck.
Down
- 1. A loan repaid over a few years, usually 3–7 years.
- 2. An interest rate that can go up or down over time.
- 3. Someone who promises to pay the loan if the borrower cannot.
- 5. A loan used to buy a house or property, repaid over many years.
- 6. A loan that does not require collateral; approval depends on credit history.
- 7. A loan that must be paid back in less than a year.
- 9. The original amount of money you borrow.
- 10. The length of time you have to repay a loan.
- 12. Money borrowed to start or grow a business, paid back with interest.
- 14. Failing to make required loan payments.
- 15. A loan backed by something valuable (collateral) in case you don’t pay.
- 18. A loan repaid over many years, often more than 7-15 years.