Answer:
Step-by-step explanation:
1. average daily balance -- average amount owed for each day of the billing period
2. carrying charges -- excess amount paid over the cash price
3. closing costs -- fees associated with taking out a mortgage
4. credit -- based on the belief someone will pay his obligations
5. credit card -- financial instrument that allows you to take out a loan from the credit card company to make purchases.
6. discount loan -- loan in which the interest is paid in advance from the sum advanced
7. down payment -- initial cash payment
8. finance charge -- price paid to use someone elses money to make purchases
9. fixed rate -- interest rate that does not change
10. interest -- fee charged for delaying payment
11. interest rates -- percentage charged for a unit of time
12. mortgage -- a loan based on the value of real estate it is used to purchase
13. overdraft -- a check that cannot be covered by funds in the account
14. previous balance -- total amount owed on the account at the end of the previous billing cycle
15. proceeds -- amount of money received when money is borrowed
16. sequence -- arrangement of quantities whose positions are based upon the natural numbers
17. unpaid balance -- amount owed on the account after payments and credits have been subtracted from the previous balance
18. variable rate -- interest rate tied to an index that may change
