Unformatted text preview: specified period of time. 10. down payment : is a portion of the cash price of the item you are purchasing. 11. amount financed : is the portion of the cash price that you owe after making the down payment. 12. simple interest installment loan : a loan in which you repay the amount financed plus the finance charge in equal monthly payments. 13. annual percentage rate : is an index showing the relative cost of borrowing money. 14. repayment schedule : shows the distribution of interest and principal over the life of the loan. 15. final payment : is the previous balance plus the current months interest....
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This note was uploaded on 01/24/2012 for the course HUM 9999 taught by Professor Variousprofessorslisted during the Summer '06 term at Abilene Christian University.
- Summer '06