Q: How does the credit card company calculate the interest payment?
A: The credit card has been an important tool to increase the purchasing power. This facility has…
Q: Other than lenders, who else might use your credit score and why?
A: Credit decisions are made by lenders. Credit reporting agencies sell credit reports on their…
Q: Why should you talk to your banker before beginning to look for a home? to get a building inspector…
A: Although looking for a home can be exciting and enjoyable, serious homebuyers should begin their…
Q: How fast Can someone get a bank loan?
A: A bank takes into account several things when considering whether or not to extend a loan to…
Q: Your paycheque for the year is higher this year than last year. Does that mean that your real income…
A: In an economy, a paycheque refers to the amount of compensation a worker gets in terms of money when…
Q: A is an example of revolving credit.
A: Credit refers to a ‘contractual agreement’ in which a borrower gets something of value now &…
Q: What is Effective interest?
A: Effective interest rate can be described as the interest rate gained or paid in actual on a project.…
Q: When selecting a financial institution, you should consider: (select all that apply) convenience,…
A: Financial Institution is an institution such as central banks, commercial Banks, credit unions etc.…
Q: You borrow $1,000 from a bank to buy a car to use in your pizza delivery business. IS THIS AND…
A: Savings are a type of income which is kept by the consumer after paying all his expenditure. When…
Q: Explain why someone might want to put a “red flag” on their own credit report.
A: A red flag refers to a warning that is put on the credit report if something suspicious, fraudulent,…
Q: On what factors does The cost of a loan depend?
A: Cost of loan are the expenses brought about by the borrower for taking the advance because of the…
Q: What are the potential savings?
A: Total disposable income of a person can be used for consumption and investment expenditures and for…
Q: Summarizes some of the interest formulas?
A: Simple interest = (P*R*T)/100 where, P : Principal amount R : Rate of interest per annum…
Q: It is a share of ownership in a business or company
A: Investors who swap capital for these units possess shares, which reflect equity ownership in a firm…
Q: how to calculate present value
A: The current value of a future sum of the amount of stream of the given cash flows in a specified…
Q: What is the cheapest loan?
A: A loan is the lending of money by an individual or a group to another individual or a firm, with an…
Q: Mary Smith took out a loan of $75,000. The loan runs for five years at a minimum interest rate of…
A: here we calculate how much is each monthly payment to Mary Smith by following method given below
Q: Banks extend many fixed-rate loans. Why? A farmer buys machinery with a fixed - rate loan to be…
A: Dear student, you have asked multiple sub-part questions in a single post. In such a case, I will be…
Q: Write the Elements of Transactions involving interest?
A: Interest is the payment that is made to the lender by the borrower of an amount in addition to the…
Q: Actual rate of interest on the principal for one year. A Nominal Interest B Compound Interest
A: The rate of interest on principal is returns for postponing consumption or spending. High rate of…
Q: Write the different loan terms?
A: A loan is when one or more people, organisations, or other institutions lend money to other persons,…
Q: What is the future amount is due at the end of the loan period
A: Here T = 13 months R = 20% P = 2000
Q: What type of professional is trained to help you save for retiremer O financial planner O auditor O…
A: A professional helps people to manage and plan the finances prudently. Such planning helps the…
Q: . If you borrowed $24,000 at 12% annual interest. You agreed to repay the loan with five equal…
A: Here we calculate the following by using the given information and conclude the answer so the…
Q: What are some pros and cons of being a real estate agent?
A: Pros of being a real estate agent By being a real estate agent,one can earn money and increase…
Q: When consumers and businesses have greater confidence that they will be able to repay loans
A: Loan repayment is defined as the act paying back the loan. This loan repayment occurs through a…
Q: How can small businesses get out of debt?
A: Small businesses need to have proper pplanning and management of cost and other factors. If there is…
Q: How much should Heather repay her grandmother?
A: a) S.I formula to calculate amount is A=P x (1+rt) = 5000 x (1.14) =$5700
Q: Do the credit card interest rates vary with creditworthiness? how?
A: Yes, the credit card interest rates vary with creditworthiness. To set the interest rate on the…
Q: . Irish is offered to invest in a business firm that will make her money earn 6% compounded
A: Bio monthly has two meaning one is twice in one month or happening every two months . Here i…
Q: What is the maturity date of a loan taken out on September 9, 1998 for 125 days?
A: The loan is taken out on September 9, 1998, for 125 days So maturity date of this loan will be 125…
Q: As a student, are you saving or borrowing? Why?
A: Disparities in income and expenditure encourage people to save or borrow. An individual who makes a…
Q: List the elements of Transactions involving Interest?
A: Interest is a charge made to a lender in addition to the principal by a borrower, and it is a…
Q: Which type of inquiry damages your credit each time one is made? a soft credit inquiry a hard health…
A: Answer: Correct option: C (a hard credit inquiry) Explanation: If a person applied for new credit…
Q: What is the difference between a secured loan and anunsecured loan?
A: A loan is when money is being given to another party in exchange for repayment of the principal…
Q: You save $1500 a year into a 401(k) account that you invest in a mutual fund earning 7% per year.…
A: Here, by analyzing the information, it can be said that: Annuity (A): $1500 Interest rate (i): 7%…
Q: Explain with detail about interest rate deposit facility and lending facility
A: Answer-
Q: Paying in cash or taking a Loan, which option is more economically sound?
A: People quite often assume that paying cash for their purchases is the best way to go. But this is…
Q: Which client had to have the financial services flow sent to them?
A: The economy is comprised of a wide range of sections called sectors. These sectors are contained…
Q: How does amortization help in making loans affordable?
A: Concept Amortization is the technique of repaying a loan in monthly interest and principal…
Q: What does paying rent help you do? buy a home build equity in your building buy a condo build your…
A: A credit rating is a measurement of a person or business entity's ability to repay a financial…
Q: Construction loans fit under the loan category known as .......
A: Construction loan is taken in order to finance construction or building of a house. Another name for…
Q: What does the income statement summarize?
A: Income statement explains about the revenues and expenses so as to know the profit or loss…
The first thing paid when repaying a loan is the principal. True or False?
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- Explain the content and purpose of a credit report?Short term savings and loans are part of whatWhy should you talk to your banker before beginning to look for a home? to get a building inspector lined up to be declined for a loan to figure out how to go broke buying a home to get pre-approved for a mortgage
- On November 4, you get a boat loan. Your first payment is due December 4. You write out your check on December 1, drop it in a mailbox on December 2, it gets postmarked on December 3, and the lender receives it on December 6. For how many days is interest calculated?What happens if you don't manage debt properly? You sleep very well at night. You have a perfect credit rating. You end up in a financial mess. Your car gains value when you drive it off the dealer lot.Due today.
- Lenders use your credit score -- to see if you've earned your degree to criticize your financial habits to understand how likely you are to pay back the money you borrow to punish you for having good financial habitsWhat is the cheapest loan?Which type of inquiry damages your credit each time one is made? a soft credit inquiry a hard health inquiry a hard credit inquiry a soft health inquiry
- Why would someone choose a fixed rate loan over a variable rate loan?just part eThe advantage of a loan is that: its transaction costs are low. it can be tailored to the needs of the individual borrower. it can be used by both small and large borrowers. it does not have to be repaid because the borrower can always default.