A ________ Is a Type of Sweepstakes with a Longer

question 117

Multiple Choice

A ________ is a type of sweepstakes with a longer time frame.

• A) game
• B) contest
• C) premium
• D) swag
• E) specialty

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Definitions:

APR

The Annual Percentage Rate, which reflects the cost of borrowing on a yearly basis and includes interest and other charges.

Mortgage

A loan secured by real estate property, commonly used to purchase a home.

Prepaid Interest

Interest starts accruing (building) at the beginning of each month and continues throughout the month; prepaid interest at the closing is the amount of mortgage interest due to cover the time from the closing date to when the first mortgage payment is due.

Down Payment

The upfront money applied to a purchase that is made using a loan (credit).