Uyour car as
you do not pay the loan back, the cred
when a bank extends you
and pay it back later with interest.
3. the
monthly interest rates and the method they us
- (property used to secure a loan), and
we loan back, the creditor has the right to repossess your car.
_, it allows you to borrow money
require lenders to disclose the
rest rates and the method they use to calculate finance charges.
4. the kind of organization that maintains a record of your past borrowing
paying habits is a
ecord of your past borrowing and bil
uitors use your ability to repay debt and your history of borrowing and repa
ment to give you a
which is their evaluation of yo
credit worthiness.
6. when you pay your credit-card bills, you pay back not only the principal but
interest and fees, which together are called
paying off debt
you have a $3,000 balance on a credit card with an 18% apr, now you sud
come into a $3,000 windfall. should you pay off your debt or invest in the bor
stock market? examine the following chart, then answer the questions that i