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Unit 4 The Accounting Cycle

a.j.hemphill

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week C Cue Cards

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Flashcards by dylan_earl, updated more than 1 year ago

	Created by dylan_earl about 10 years ago

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Resource summary

Question	Answer
What is a mortgage?	Two parties involved in a promise from the Borrower (Mortgagor) to the Lender (mortgagee)
Down payments are usually paid in cash T/F	True
What is an Amortization Period	Period it takes to retire the entire mortgage loan
The longer the amortization, the smaller the mortgage payment. However the larger the interest T/F	True dat
What is a floating mortgage rate?	A rate that depends on market conditions (Variable Rate)

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