enCR10
Fixedrateloans:Loans for which the interest rate does not change over the life of the loan.
Primerate:Interest rate the banks offer to their best business customers, such as large corporations.
Simpleinterest:Interest computed on the amount borrowed (or saved) only, without compounding.
Principal:The amount borrowed, or the unpaid portion of the amount borrowed, on which the borrower pays interest.
Downpayment:Part of the purchase price paid in cash up front, reducing the amount of the loan.
APRformula:2nf/P(N+1)
Financecharge:Total Price Paid – Cash Price
Computingrate:R = i/pt
Computingprincipal:P = i/rt
ComputingsimpleinterestInterest:(I) = Principal (P) * Rate (R) * Time (T)

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Across:

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(I) = Principal (P) * Rate (R) * Time (T)

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2nf/P(N+1)

10.

Part of the purchase price paid in cash up front, reducing the amount of the loan.

Down:

1.

Total Price Paid – Cash Price

2.

Loans for which the interest rate does not change over the life of the loan.

3.

Interest computed on the amount borrowed (or saved) only, without compounding.

5.

The amount borrowed, or the unpaid portion of the amount borrowed, on which the borrower pays interest.

7.

Interest rate the banks offer to their best business customers, such as large corporations.