Question

credit card terminology
match the credit card vocabulary term on the left with the definition on the right.
term\tdefinition
annual percentage rate\ta. the time between credit card statements
billing cycle\tb. the amount charged for borrowing money (% of the principal)
delinquency\tc. percent you pay each year on borrowed money
grace period\td. the amount youve borrowed and have to pay back
interest rate\te. smallest payment the bank allows you to pay on your debt
minimum payment\tf. failure to make the minimum payment on time
principal\tg. period between getting the bill and having to pay it (without interest)

Explanation:

Each credit card term is matched to its precise definition based on standard credit card vocabulary:

1. Annual Percentage Rate refers to the yearly percentage cost of borrowed money.
2. Billing Cycle is the interval between credit card statements.
3. Delinquency is the failure to make a required payment on time.
4. Grace Period is the interest-free window to pay a credit card bill.
5. Interest Rate is the percentage charged for borrowing money.
6. Minimum Payment is the smallest required payment to the lender.
7. Principal is the original amount of money borrowed.

Answer:

Annual Percentage Rate — C. Percent you pay each year on borrowed money
Billing Cycle — A. The time between credit card statements
Delinquency — F. Failure to make the minimum payment on time
Grace Period — G. Period between getting the bill and having to pay it (without interest)
Interest Rate — B. The amount charged for borrowing money (% of the principal)
Minimum Payment — E. Smallest payment the bank allows you to pay on your debt
Principal — D. The amount you've borrowed and have to pay back