Fresh features from the #1 AI-enhanced learning platform.
Try it free
Fresh features from the #1 AI-enhanced learning platform
Crush your year with the magic of personalized studying.
Try it free
hello quizlet
Home
Subjects
Expert Solutions
Log in
Sign up
Social Science
Economics
Finance
Debt
Flashcards
Learn
Test
Match
Get a hint
Annual percentage rate (APR)
Click the card to flip 👆
The actual rate of interest charged on a loan each year; calculated using standard rules
Click the card to flip 👆
1 / 24
1 / 24
Flashcards
Learn
Test
Match
Created by
moneymentors
Teacher
Share
Share
Terms in this set (24)
Annual percentage rate (APR)
The actual rate of interest charged on a loan each year; calculated using standard rules
Cash advance
Withdrawals of cash from your credit card
Compound interest
Interest charged on both the original principal amount and any interest previously accrued; interest on interest
Consumer debt
Money owed as the result of purchasing items (i.e., debt not including mortgages)
Credit card
When you make a purchase, you borrow money from the credit card issuer to pay the vendor, and you must pay back the money you've borrowed by a due date
