Personal Finance Chapter 15 Exam Questions Correctly Answered.

Personal Finance Chapter 15 Exam Questions Correctly Answered. credit - correct answer an arrangement to receive cash, goods, or services now and pay for them in the future consumer credit - correct answer the use of credit for personal needs finance - correct answer give or get money for closed-end credit - correct answer credit as a one-time loan that you will pay back over a specified period of time in payments of equal amongst open-end credit - correct answer credit as a loan with a certain limit on the amount of money you can borrow for a variety of goods and services line of credit - correct answer the maximum amount of money a creditor will allow a credit user to borrow loans - correct answer borrowed money with an agreement to repay it with interest within a certain amount of time grace period - correct answer a time period during which no finance charges will be added to your account finance charge - correct answer the total dollar bill amount you pay to use credit cobranding - correct answer Linking a credit card with a business trade name offering "points" or "premiums" toward the purchase of a product or service