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Vocab chapter 6 FP Crossword
Down
:
1) A method of computing finance charges that gives no credit for payments made during the billing period.
3) A maximum five-year plan for paying creditors all or a portion of a debt owed.
Across
:
2) A method of computing finance charges that uses a weighted average of the account balance throughout the current billing period.
4) The assessment of finance charges after payments made during the billing period have been subtracted.
5) The yearly interest rate quoted by a financial institution on a loan. The APR may be compounded more frequently than once a year, in which case the effective annual rate on the loan will be higher than the APR.
6) Any type of insurance that ensures repayment of a loan in the event the borrower is unable to repay it.
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