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Unit 5 - Coggle Diagram
Unit 5
Terms 
Principal
Original value of a loan or deposit/investment, to which interest or returns may be added.
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed
Credit
Credit is the ability or trust to borrow money or resources from another party and pay them back later, often with interest or fees
Basics of Credit/Loans
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Secured
Mortgages
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Auto loans
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Credit cards
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Credit reports
Credit report is a detailed document of your credit history while the credit score refers to a 3 digit number that shows you how much is your credit score.
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