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Testprep
6 cards·by 17nwalker
Credit
Privilege of using someone else's money for a period of time
Regular Charge Account
Requires buyer to make full payment within a stated period
Collateral
Property that is used as security
Simple Interest Equation
I=PxRxT
Capacity
One of the three C's of Credit
Bankruptcy
When a person can no longer afford to pay credit and the bank seizes assets