Across
- 1. party extending credit.
- 4. private firm that maintains credit rating
- 6. party receiving credit.
- 9. the potential that credit will not be repaid
- 11. loan for a specific amount of money repaid with interest in regular payments.
- 13. credit granted to a business by a financial institution or another company.
- 14. property that borrower uses to secure a loan.
- 15. credit card used only in the stores of a specific business.
- 17. numerical measure of a loan applicant's creditworthiness.
Down
- 2. does not close when the balance is paid off.
- 3. represents the cost of a loan expressed as a percent of the amount borrowed.
- 5. shows principal plus interest for each payment of a loan.
- 7. line of credit from one business to another for a short period of time.
- 8. credit granted to individual consumers by a retail business.
- 10. loan must be repaid with interest by a specified date or schedule.
- 12. amount of money borrowed.
- 16. federal act to state the APR of loans.