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Major Expenditures - FINAL REVIEW

AB
DepreciationDecrease in the value of an asset associated with the decline in its remaining useful life
Down paymentPortion of the purchase price that is not borrowed
LandlordThe person who owns the property and allows others to live or work in that property
MortgageA loan for the purchase of a house or other property where the property is used as collateral
RentThe price paid for the use of someone else’s property
Security depositMoney paid to a landlord to cover potential cleaning costs at the end of the lease, as well as any damages the property suffered during occupancy
TenantA person who rents the property
EXTRAEXTRA


Business Teacher
Wichita High School South

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