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7-3 COMPUTING THE COSTS OF CREDIT 238-242

Horizontales
The period time you have between credit card billing
A method where interest is calculated based on the amount owed after you pay your bill.
A rate that goes up and down with inflation and other economic conditions
Money borrowed against your credit card account
The payment amount you are required to pay each month on a credit account
Verticales
A fee charged for violating term of the credit agreement
The balances for all the days are added and then divided by the number of days in the billing cycle
Interest calculated based on outstanding balance at the end of the previous billing cycle
An interest rate that doesn't change from month to month
Moving a balance from one credit card account to another
The total amount of all the interest and fees you pay for the use of credit.
The amount of time you have to pay your current credit card balance in full to avoid paying interest.