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13 questions from this quiz
Obtaining money that must be repaid with interest
Buying on credit
Borrowers must pay interest on what they owe
To buy expensive items like a house or car
Borrowing period should match the purpose
Long-term loan
Yes, you can likely afford this loan
Borrow less, extend term, or cut expenses
Credit unions
Different lenders offer different rates/terms
An asset securing a loan
Someone who repays your loan if you can't
True yearly cost including interest & charges
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