Loan
Emergency Fund
Credit
Interest rate
Interest
Debt
Consumer
Sinking Fund
Compound interest
An obligation (agreement) of repayment owed by one party (person who borrowed the money) to a second party (person or business who loaned the money). Can include interest on the money borrowed.
Granting of a loan and the creation of debt; this will include any for of deferred (delayed) payment.
Saving money over time for large purchases.
A fee paid by a borrower to the lender for the use of borrowed money; typically interest is calculated as a percentage of the principal.
Person or organization that uses a product or a service.
A debt evidenced by a "note" (legal piece of paper) which specifies the principal amount (amount you borrowed), interest rate (rate applied as a fee for the service of you borrowing the money), and date of repayment.
Interest paid on interest previously earned; credited daily, monthly, quarterly or semiannually.
Five hundred dollars in readily available cash to be used only in the event of an emergency.
Percentage paid to a lender for the use of borrowed money (in debt) or percentage earned on invested principal (in investing).
