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Intro to Business Chapter 6

A money order is?

A bank commonly organized as a commercial bank.

A form of payment that orders the issuing agency to pay the amount printed on the form to a specified date

A credit union regulated by the National Credit Union Association (NCUA)

The amount a bank pays you for the use of your money.

The use of computers and other technology to move funds electronically from one account to another is known as?

Interest

Electronic funds transfer

Money order

Safe deposit box

The privilege of using someone else's money for a period of time with a promise to pay it back later

Credit

Creditor

Debitor

Finance charge

The total dollar cost of credit

Credit

Annual Percentage Rate

Interest

Finance charge

The amount of a the loan

Principal

Interest rate

Interest

Credit

What is a Credit Union, How does it work?

What are some of the benefits of Credit?

What might be some concerns for people new to credit?

What is the Truth in Lending Act

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