Match the terms with the definitions from the reading.
Column A
1. _ Providing a service for w...
Match the terms with the definitions from the reading.
Column A
1. _ Providing a service for which you will pay later
2. _ A timeframe within which you may pay your balance in full and incur no interest charges
3. _ A legal business that makes high-interest loans based on the value of possessions pledged as collateral
4. _ A state law that sets a maximum interest rate that may be charged for loans
5. _ An organization that makes high-risk consumer loans
6. _ The cost of credit expressed as a yearly percentage
7. _ An unlicensed lender who charges illegally high interest rates
8. _ A loan for a specific amount that must be repaid in full by a specified due date
Column B
a. Closed-end credit
b. Usury law
c. Loan shark
d. Service credit
e. Finance company
f. Annual percentage rate (APR)
g. Grace period
h. Pawnbroker/pawnshop
Answers: 3
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