Glossary

Annual Percentage Rate ・This is the total finance charge shown as a percentage of the amount financed.
Balance ・This is the total amount of money owed.
Credit Rating ・This is evaluation of an individual or corporation's history of repaying past loans. It is used to see whether a creditor can pay back loans or not.
Debit Card ・A card that draws funds from a bank account, usually a checking or savings account.
Mortgage ・This is a property pledge that is used as security in the repayment of a loan.
Net pay ・This is the remaining amount after deductions from the gross salary.