economics: section 9.6-9.8
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8 Terms
1
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midas of the golden touch
what story is an example of the use and abuse of money?
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good nor evil
fill in the blank
money in itself is neither ______ nor _____
3
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chapter 7 bankruptcy
most of this person’s debts are forgiven
4
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chapter 13 bankruptcy
the person must work out with the court a payment schedule to repay creditors
5
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fixed-rate mortgage
interest rate is locked in even if interest rates rise in the future
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adjustable rate mortgage (ARM)
interest rate varies annually
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closing costs
additional costs to purchasing a home
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escrow
a fund where money is held by a 3rd party to be paid on a person’s behalf
Note 
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