| A | B |
|---|
| regular account | A credit plan in which th seller or provider expects payment in ful at the end of a specified period--Usually a month. |
| budget account | A credit plan requiring that payments of a certain fixed amount be made over several months. |
| revolving account | A credit plan that allows purchases to be charged at any time but requires that at least part of the debt be paid each month. |
| finance charge | The additional amount you must pay for using credit. |
| installment sales credit | A contract issued by the seller that requires periodic payments to be made at times specified in the agreement with finance charges added to the cost of the purchase. |
| down payment | A payment of part of the purchase price that is made as part of a credit agreement. |
| installment loan | A type of loan in which you agree to make monthly payments in specific amounts over a period of time. |
| single-payment | A type of loan in which you do not pay anything until the end of the loan, possibley 60 or 90 days. |
| promissory note | The moethod and information communicated to customers to encourage purchases and increase their satisfaction. |
| collateral | Property that is offered as security for some loan agreements. |
| secured loan | A type of loan in which the lender has the right to sell property used as collateral to get back the amount of the loan in the even the loan is not repaid. |
| cosigner | Someone who becomes responsible for payment of the note if you do not pay as promised. |
