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27 Cards in this Set
- Front
- Back
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private-labeled products
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Lower price store brand products carried by some supermarket chains and club warehouse chains
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Durability
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Ability of an item to last a long time
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Liability insurance
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Insurance that pays for bodily injury and property damage
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Certificate of deposit
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Time deposits that state the amount of the deposit maturity and rate of interest being paid
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Treasury bond
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Certificates issued by the US Treasury in exchange for minimum amount of $1000 and maturing in 10 or more years
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Annual percentage rate
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Cost of credit expressed as a yearly percentage
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Representative money
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Money that is backed up by an item of value such as gold or silver
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Mutual fund
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Investment company that holds the money of individuals to buy stocks bonds other best
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Corporation
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Type of business organization owned by many people but treated by laws though it were person; it can own property, pay taxes, make contracts, and so on
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Dividend
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Portion of corporations profits paid to its stockholders
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Collateral
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Something of value you as a borrower lets the lender claim if the loan is not repaid
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Finance charge
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cost of credit expressed monthly in dollars and cents
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Partnership
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Business that two or more individuals own and operate
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Mortgage
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installment debt owed on houses, buildings, or land
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Security deposit
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Money arrangements an owner holds in case that the rent is not paid or an apartment is damaged
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Convenience store
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store open 16 to 24 hours a day, carrying a limited selection of relatively higher priced items
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Annual fee
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yearly fee that you pay for the ability to use a credit card
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Introductory rate
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interest ratecharged to a customer during the initial stages of a loan and is not permanent
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Annual percentage rate
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Cost of credit expressed as a yearly percentage
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Late payment fee
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a fee that you must pay if your payment is late
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balance transfer
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Transfer of balances from one credit card to another. Credit card balance transfers are typically used by consumers who want to move their debt to a credit card with a lower interest rate, fewer penalties or other benefits, such as reward points or travel miles.
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Over the limit fee
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You see that you must pay if you go over your limit
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Penalty Apr
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high interest rates that can be triggered by the slightest infraction such as just one payment that is received a day late.
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Interest
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Payment people receive when they lend money or allow someone else to use your money
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Variable rate APR
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providing for changes in the interest rate,adjusted periodically in accordance withprevailing market conditions
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Warehouse club stores cons
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There is a membership fee, only have specific brands, and you must buy in packages
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Warehouse Club store pros
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You get items at a cheaper price and buy things in bulk to save money
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