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late payment fees
interest rates
financing charges
all of the above
42. The money you pay to keep an insurance policy in effect is called a what? (1 point)
deductible
co-pay
premium
expense
43. The money you borrow from a bank or any other lender is called what? (1 point)
principal
investment
interest
equity
44. Your credit score determines whether or not you what? (1 point)
are approved or denied a loan
are given a high or low interest rate
are approved or denied a credit card
all of the above
45. The loans that individuals take out to continue their education are called what? (1 point)
educational loans
student loans
optional loans
deferred loans
46. Which of the following is NOT considered a small ticket item? (1 point)
a toaster
an automobile
a pack of gum
a cup of coffee
47. When an asset such as a home or a car decreases in value over a long period of time it鈥檚 called what? (1 point)
decay
depreciation
appreciation
neglect
48. Charge cards differ from credit cards in what ways? (1 point)
they require you to pay the full balance at the end of the billing period
they don鈥檛 allow you to make cash advances
they don鈥檛 accept balance transfers
all of the above
49. The marketing offers provided by credit card companies are called membership __________? (1 point)
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