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 habits
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: Describe the process of Borrowing with Credit Cards?
A: The credit card has been an important tool to increase the purchasing power. This facility has…
Q: Give an example of a loan repayment plan?
A: A loan repayment plan shows the way in which loan will be repaid. It explains in detail the number…
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: 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: Why do credit scores reported by each credit bureau vary by as much as 50 points? They all use…
A: Credit Scores represent the financial stability of a person. They are essential for the finnacial…
Q: PAYMENT HISTORY,CAPACITY,LENGTH OF CREDIT,NEW CREDIT and MIX OF CREDIT how do the above factors…
A: Payment History, Capacity, Length Of Credit, New Credit and Mix of Credit are some of the most…
Q: Advantage and Disadvantage of Building and Loan Associations from Private Nonbank Thrift…
A: The loans are amount of money which are borrowed by the various individuals or the firms. The loans…
Q: Why do the creditors generally charge higher interest rates on new borrowing?
A: The interest rate is the amount that the creditor charges with the principal from the borrower to…
Q: What are commercial loans?
A: Loan is a type of debt instrument in which a sum of money is borrowed by an individual or a firm…
Q: What happened to credit standards(down payment, mortgage loan relative to value, and…
A: From the year 1995 to 2005, there were many changes in the real estate market. This led to a change…
Q: Identify the different Credit System practices of Asia.
A: Asia is the biggest credit system users. Amongst it the highest is in China followed by Japan and…
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: still make all interest payments? r
A: *Answer: The debt-to-GDP ratio is the percentage of a country's debt to its GDP. It is used to…
Q: what does it mean when banks are paying people to get loans?
A: The financial system of the nation is considered to be one of the most prominent, and important…
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: Interest rates: why are interest rates increasing on student loans or mortgages?
A: Secured Loan:- A secured loan is one that is supported by secured financial assets owned by the…
Q: How Do You Manage Your Credit Card Debt?
A: Credit cards have become a everyday part of our lives and is convenient to use. It is often, that we…
Q: 'Credit' means Increase in an account Decrease in an account Right side of an account Left side of…
A: Accounting is basically a system that is used to record, summarize, and organize financial or…
Q: Benefits of government regulating banks.
A: Bank regulation is basically a kind of govt regulation that, among other things, sets certain rules,…
Q: How Dalio’s concept about borrowing from one’s future self might change a decision one might make…
A: Debt is when one party borrows something from another, most commonly money. Many businesses and…
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: s and explanatio
A: The process of risk quantification by assigning numbers being comparable and measurable to the…
Q: You can improve or damage your credit history with a credit card. O True O False
A: The economics as a study is based upon the idea that the resources which are present with each…
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: The first thing paid when repaying a loan is the principal. True or False?
A: Principal denotes the original amount of money borrowed by the individual for meeting his/her needs.…
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: 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: Describe what consumers should know about credit monitoring services.
A: A credit monitoring service keeps track on borrower behavior in order to alert customers to…
Q: What happens if you don't manage debt properly? You sleep very well at night. You have a perfect…
A: Debt is something, usually money, borrowed by one party from another.
Q: What are the different Credit System practices of Asia, Europe and United States?
A: A credit system is a means of describing an educational program by methodically awarding credits to…
Q: Who prepares credit reports? O your banker credit bureaus the judge who oversees your bankruptcy…
A: A Credit Report is a summary of all the credit activities undertaken by you till date.
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: What appears in the Tradelines section of your credit report? each credit account you've ever opened…
A: A credit report account is referred to as a "tradeline" in the credit industry. Tradelines on a…
Q: What does credit tell you about the consumer culture in the 1920s
A: Credit culture was not that developed during 1920's. It was basically used as a simple transaction…
Q: Causes and effects of low interest rates
A: The interest rate is determined by the intersection of demand and supply of loanable funds. It is…
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: bank
A: Bank Deposit creation is limited by reserve requirement. Explanation Money refers to anything…
Q: what is the difference between Credit and Consumer credit?
A: Introduction Credit is a types of arrangement to receive cash or any service which you can use in…
Q: Your merchant fee is 2%. Your customers paid you $120,000 through credit cards. What fee must you…
A: The fee that needs to be paid to the credit card company can be calculated by calculating the…
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- Transactions on a debit card can't affect your credit history. O True O False1) What is the range of possible credit scores. Give examples of bad, average, excellent credit scores. 2) Who collects all of the financial information and determines your score? Give examples of information that is collected? 3) What is the difference between a credit score(FICO) and a credit report. How/where can you check your report? How/where can you check your score?Now It's Finally Time to Start Spending My Retirement Nest Egg Not so fast! People work long and hard for years on their retirement plans. Paying smart attention to the plans doesn't stop when it's time to enjoy the fruits of the labor and sacrifice. When it comes time for you to begin using your funds, you'll need to make sure you follow some rules in order to avoid unnecessary expenses. Some questions follow that will help you remember wise ways to manage your money as well as avoid pitfalls that could cost you. Keeping in mind that the primary purpose of tax-sheltered plans is to provide for your retirement, there are regulations in place to discourage early withdrawals, which presumably are intended for uses other than funding your retirement. That discouragement comes in the form of paying penalties and some taxes for which you would not otherwise be liable. However, there are some withdrawals allowed that wouldn't require you to pay penalties, as long as certain qualifications…
- You have 2 accounts: Account A has a $700 balance and a $1000 credit limit. Account B has a $150 balance and a $500 credit limit. What are your debt-to-credit ratio? Enter your number as a percent and round to 1 decimal placeWhich factor would credit card companies most likely use to determine an applicant's creditworthiness? O A. Occupation and salary O B. Race and ethnicity OC. Number of children O D. Political ideologyThe amount which from the transaction entered by the person who borrows money called the debtor or maker and the person who lends money called creditor or lender.
- 1. Credit reports: A. Only report credit history under your current name B. Only report payments that were made on time C. Can only be secured without your permission D. Show any liens, foreclosures, or bankruptcies 2. Investments: A. Are the same as savings B. Should be a priority when receiving a paycheck C. Both Are the same as savings and Should be a priority when receiving a paycheck D. None of these 3. An example of a personal asset is a: A. Job B. Paycheck C. Car D. All of these E. None of theseWhat does your credit score tell a banker? O exactly how you will behave in the future the color of your hair and eyes the type of car you drive how well you manage money and pay back loanswhat does it mean when banks are paying people to get loans?