4a types of credit ngpf - Study guides, Class notes & Summaries

4A - Types of Credit NGPF Exam with Complete Solutions Credit ️️Any arrangement where you get "stuff" (money, goods, services), and agree to pay for it in the future Loan ️️An agreement where you are credited with a fixed amount (usually of money) for a fixed period of time, usually with interest Interest Rate ️️The percentage charged for the privilege of borrowing money Principal ️️The amount you borrow Term ️️The amount of time you have to repay your principal ...

4A - Types of Credit NGPF Credit - answerAny arrangement where you get "stuff" (money, goods, services), and agree to pay for it in the future Loan - answerAn agreement where you are credited with a fixed amount (usually of money) for a fixed period of time, usually with interest Interest Rate - answerThe percentage charged for the privilege of borrowing money Principal - answerThe amount you borrow Term - answerThe amount of time you have to repay your principal Collateral - answerSom...

Credit Ans: Any arrangement where you get "stuff" (money, goods, services), and agree to pay for it in the future Loan Ans: An agreement where you are credited with a fixed amount (usually of money) for a fixed period of time, usually with interest Interest Rate Ans: The percentage charged for the privilege of borrowing money Principal Ans: The amount you borrow Term Ans: The amount of time you have to repay your principal Collatera

4A - Types Of Credit NGPF Exam With Questions And Answers ...

Grace Period - Answer The number of days between a consumer's credit card statement date and payment due date when interest does not accrue. It is a window of time during which a consumer owes money to a credit card company for new purchases made during the last billing cycle but isn't being charged interest. Minimum Payment - Answer The smallest amount of a credit card bill that a credit card holder must pay each billing cycle. Penalty APR - Answer It is a higher interest rate that can ...