What two questions should be answered, before taking out a consumer loan? Explain. List and briefly discuss the different factors to consider, when shopping for a loan. How would you determine the total cost of the transaction?

Answers

Answer 1

There are two important questions you need to ask yourself before taking out a consumer loan:

1. Can I pay the loan back?

2. Is this the best possible loan for me?

Factors to consider when shopping for a loan:

1. Annual Percentage Rate (APR): The APR refers to the total cost of a loan, which includes the interest rate and any fees associated with the loan.

2. Loan term: The length of time you have to pay back the loan.

3. Monthly payments: Consider if the monthly payments are affordable for you.

4. Fees: Look at any fees associated with the loan, such as origination fees or prepayment penalties.

5. Collateral: If you are taking out a secured loan, such as an auto loan, the collateral used for the loan is important.

Total cost of the transaction: The total cost of the transaction can be determined by adding up all of the fees and interest charges associated with the loan. The APR will give you an idea of the total cost of the loan over its entire term.

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Related Questions

If a bond is trading at a premium, what is the relationship between the bond's coupon rate, current yield and yield to maturity?

Answers

Bonds acquired at premiums often have lower yields to maturity than bonds purchased at market rates. This is further explained below.

What is a bond?

Generally, Bonds are financial securities that reflect loans made to the issuer by the bondholders themselves. When it comes to borrowing money, governments (at all levels) and companies (of all sizes) often turn to bonds.

In conclusion, If you buy a bond at a discount, the yield to maturity will be lower than its coupon rate.

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The classical economists believed that if the quantity of money doubled, A) output would double. B) prices would fall. C) prices would double. D) prices would remain constant.

Answers

The correct answer is C. The classical economists believed that if the quantity of money doubled, C) prices would double.

This idea is based on the quantity theory of money, which states that the general price level is directly proportional to the money supply in an economy. Classical economists believed in the long-run neutrality of money, which means that changes in the money supply would primarily affect nominal variables (such as prices) and have a limited impact on real variables (such as output and employment) in the long run. However, in the short to medium term, they believed that changes in the money supply would have an impact on prices, and hence the expectation was that prices would double if the quantity of money doubled.

Therefore, the correct answer is C) prices would double.

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How cash inflow and outflow affects the components of a financial plan

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Budgeting depends on cash inflow and​ outflow, and how much you have left affects investment​ decisions, retirement​ decisions, and financing decisions. ... All financial goals must be reasonable and achievable.

Item 8 In a movie's opening weekend, 879,575 tickets are sold in 755 theaters. The average cost of a ticket is $9.50. What is the average amount of money earned by each theater?

Answers

Answer:

the average amount of money is 1,165

Explanation:

The computation of the average amount of money i.e. earned by each theater is shown below:

= Total number of tickets sold ÷ number of theaters

where,

The Total number of tickets sold is 879,575

And, the number of theaters is 755

Now place these values to the above formula

So, the average amount of money is

= $879,575 ÷ 755

= 1,165

hence, the average amount of money is 1,165

Your grandmother is giving you $1,000 as a graduation present but has indicated that you must open an account with a financial institution so you have financial foundations in place when you start college. In town, there are a commercial bank, credit union, and a savings and loan. Using the PACED model, compare these three institutions to determine which one you would select and explain why.

Answers

Using the PACED model, after comparing  these three institutions. The best choice to open an account with is commercial bank.

What is  commercial bank, credit union, and a savings and loan?

Commercial bank can be defined as a  financial institution that offers several financial services such as:

Depoist Saving accountLoans

A credit union ia also a financial institution that is non profit and they as well accept deposit and gives out loan to their members.

Savings and loan is a institution accept deposit  and give out real estate loan.

The best choice when using PACED model for decison making is for her to open a savings account with a commercial bank reason being she will be able to save while she earn interest on the amount saved.

Inconclusion  Using the PACED model, after comparing  these three institutions. The best choice to open an account with is commercial bank.

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an employee can be dismissed if their job surplus to requirements' outline why this state ment is false

Answers

Hiring labour is different from buying other goods and services, and the contract between the employer and the employee is incomplete. It does not cover what the employer really cares about, which is how hard and well the employee works.

in a perpetual inventory system, inventory is initially recorded at ______.

Answers

Answer:

In a perpetual inventory system, inventory is initially recorded at the time of sale.

What is a weakness of market economies? a. market economies distribute resources unequally. b. market economies are inefficient. c. market economies hinder innovation. d. market economies are unresponsive to market forces.

Answers

A weakness of market economies is that they can distribute resources unequally. This is because the distribution of resources in a market economy is based on supply and demand, which can result in certain individuals or groups having more resources and wealth than others.

Additionally, market economies can be inefficient if there is not enough competition or if there are external factors that disrupt the market. However, market economies can also promote innovation and respond to market forces, which can lead to economic growth and development. Ultimately, it is important to balance the benefits and drawbacks of market economies to create a sustainable and equitable economic system.

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When a firm is producing at the level of output that maximizes profit which of the following is true

Answers

The primary purpose of a firm is to make "Profit" in the Long-run.

The maximization of profit in a firm occurs at the level of output where the marginal revenue equal to marginal cost \({MR = MC}\).

As we know, the goal of a firm is to maximize profits and minimize losses, so a shutdown is immininent if a firm is operating at the level of output where marginal revenue is not equal or lesser that marginal cost.

In conclusion, firm kept expanding its production capacity as long as its Marginal Revenue is greater than Marginal Cost \({MR > MC}\) but this changes when  marginal revenue is equal to marginal cost \({MR = MC}\).

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Answer:

Marginal revenue is equal to marginal cost

what are some basic marketing strategies

Answers

Claim Your Business Online.  

think positively.ALWAYS THINK POSITVE!!!

promote it n social media.

be loud to people to everybody be aware of your buisness.

Advertise Online.  

HOPE this helps

take care have a good day

checking the purchase order upon delivery of products to a warehouse ensures that
a. the order was actually made in the quality is correct
b. The items were purchased at the lowest possible price
c. The items work as advertised
d. there will be enough storage space to house the items​

Answers

Answer:

i believe it is a.

Explanation:

im not sure but this sounds the most reasonable

Put the following events from computer history in the order they happened:
Drag
Drop
Drag events here with oldest at top
The World Wide Web becomes available to the public
Scientists at Bell Laboratories invent the transistor
Apple releases the iPhone
Herman Hollerith develops electronic tabulating machine
International Business Machines, or IBM, is formed
The Apple Il is released for home consumers
Jack Kilby invents the microchip

Answers

The sequencing of the following events with respect to computer history is as follows:

In 1890, Herman Hollerith introduced a machine of electronic tabulation.In 1911, IBM or an International business machine should be developed.In 1947, The scientist invented the transistor at Bell Laboratories.In 1958, Microchip was invented by Jack Kilby.In 1977, Home consumers should be released by the Apple II.In 1993, WWW or World wide web could be accessed by the public.In 2007, iPhone should be introduced by Apple.

In this way, the above events should be ordered.

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Answer:

Answer in image

Explanation:

Put the following events from computer history in the order they happened:DragDropDrag events here with

Correctly identify steps 3 and 4 of the accounting process: multiple choice Step 3: post entries into the ledger; Step 4: identify transactions and source documents. Step 3: record transactions into the journal; Step 4: post entries into the ledger. Step 3: analyze transactions using the accounting equation; Step 4: post entries into the ledger. Step 3: record transactions into the journal; Step 4: analyze transactions using the accounting equation.

Answers

Answer: Step 3: record transactions into the journal; Step 4: post entries into the ledger.

Explanation:

After we identify and analyze a transaction so that we know what accounts and journal it is to go to, we record the transaction in the relevant journal in the third step of the accounting process.

We then take those transactions and post it to the relevant ledger which shows all the transactions related to a certain account. These ledgers are called the "books of final entry" and it is from them that we are able to draw up the unadjusted trial balance.

Step 3: record transactions in the journal; Step 4: post entries into the ledger. Option (b) is correct.

The accounting cycle is a procedure created to make it simpler for business owners to account for the financial aspects of their operations.

The unadjusted trial balance, the worksheet, identifying transactions, entering transactions in a journal, posting, modifying journal entries, preparing financial statements, and closing the books are the eight processes of the accounting cycle.

Business owners receive thorough financial performance reports at the end of the accounting cycle, which are used to evaluate the company.

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the exponential form of 6×6×6×6 is 6 the base is 4 True or False?​

Answers

false because the base is 6 and the exponent is 4

Lightskins or Darkskins


Or Other ?

Answers

Answer:

any kind of boy

Explanation:

I have no type

If you are applying for two different jobs, which of the these is true about the resumes you will turn
in to them?
you would turn in different resumes with different objective statements that match the different jobs you are
applying for
turn in identical resumes to both jobs
print them with different colored ink to keep from confusing them

Answers

Answer:

the first one ,you would turn in different resumes with different objective statements that match the different jobs you are

applying for

(20 pts) a power shovel with a dipper of two cubic yard capacity has a standard operating cycle time of 80 seconds. the excavated material which has a swell factor of 1.05 will be disposed by a dump truck with an 8 cubic yard capacity at a dump site 6 miles away. the average speed of the dump truck is 30 mph and the dumping time is 40 seconds. find the daily standard production rates of the power shovel and the dump truck if both are operated 8 hours per day. a. determine also the number of trucks needed daily to dispose of the excavated material. b. determine the job site productivity and the actual cycle time of this shovel under the work conditions at the site that affect the productivity as shown below: work conditions at site factors bulk composition 0.972 soil properties and water content 0.960 equipment idle time for breaks 0.750 management inefficiency 0.750

Answers

2 cubic yard%80 seconds*8*3600=720 cubic yards power shovel.

Total time taken:720+40+720=1480seconds.

Number of trucks needed=1080%155.676=6.94

so approx. 7 trucks needed.

A power shovel, also known as a stripping shovel, front shovel, electric mining shovel, or electric rope shovel is a machine with a bucket that is typically propelled by electricity and is used to dig up and load dirt or crushed rock as well as to extract minerals. Power shovels are a sort of rope/cable excavator in which, as opposed to hydraulics as in the more typical hydraulic excavators, winches and steel ropes are used to control and power the digging arm. The track system, cabin, cables, rack, stick, boom foot-pin, saddle block, boom, boom point sheaves, and bucket are the basic components of a power shovel. A bucket can be 0.73 to 53 cubic metres in size.shovel for loading cables model P&H 4100 XPB.Typically, power shovels have a rotating deck with a power plant, drive, and control.

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A financial advisor is cold-calling leads. A prospect mentions that he manages his own portfolio and hasn't used an advisor in the past.

Answers

The financial advisor should inquire as to the reason the prospect hasn't previously engaged an advisor after learning that he controls his own portfolio.

What should a financial consultant do?

Inquiring as to why the prospect has never worked with a financial advisor is a good place for the financial advisor to start.

As a result, he will be better able to select how to approach the possibility and offer their services.

Who requires a financial adviser?

Others advise hiring an advisor when your financial situation becomes more complicated, such as when you receive an inheritance from a parent or you want to increase your retirement funds. Some experts advise hiring an advisor when you can save 20% of your annual income, while others say this is a good general rule of thumb.

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Robert receives a salary of $60,000 per year, or $2,500 semi-monthly. How
much does his employer pay for his unemployment tax for the entire year?
A. no limit
B. $0
C. $840
D. $420

Answers

Answer:

B. $0

Explanation:

Unemployment tax known as FUTA (The Federal Unemployment Tax act) is imposed on employers based on the wage and salaries they pay their employees. Employers who pay $1500 and above per calendar quarter are mandated to pay FUTA. Unlike other payroll-based taxes, employers are not required to deduct FUTA from employees. Therefore, nothing should be withheld from Robert's income as unemployment tax.

A company has $10,710 available per month for advertising. Newspaper ads cost $180 each and can't run more than 22 times per month. Radio ads cost $560 each and can't run more than 31 times per month at this price

Answers

Answer:

22 radio advertisements will be used.

Explanation:

Note: A similar complete question is as follow as the question provided is incomplete "A company has $11,970 available per month for advertising. Newspaper ads cost $110 each and can't run more than 25 times per month. Radio ads cost $410 each and can't run more than 32 times per month at this price. Each newspaper ad reaches 5950 potential customers, and each radio ad reaches 7100 potential customers. The company wants to maximize the number of ad exposures to potential customers. Use n n for number of Newspaper advertisements and r r for number of Radio advertisements . Maximize P"

Number of potential customers that can be reached due to each dollar spent in newspaper advertising =  5950 / 110 = 54.09

Number of potential customers that can be reached due to each dollar spent in Radio advertisements = 7100 / 410 = 17.32.

As the number of potential customers reached by each dollar spent is more from the newspaper advertising, we will use all the newspaper advertising opportunities before going for the radio advertisements. So, we will choose to have 25 newspaper advertisements in the month.

The cost of 25 newspaper advertisements = 25*110  = $2750.

Amount left = $11970 - $2750 = $9220.

Number of radio advertisements possible in this budget = 9220 / 410 = 22.48

Hence, 22 radio advertisements will be used.

Credit offered in the form of ____________ is most common in department and clothing stores and other high-volume outlets, where customers are likely to make several purchases each month.

Answers

Answer:

retail charge cards

Explanation:

A credit card can be defined as a small rectangular-shaped plastic card issued by a financial institution to its customers, which typically allows them to purchase goods and services on credit based on the agreement that the amount would be paid later with an agreed upon interest rate.

Hence, the use of credit cards by consumers broadens a small company's customer base.

This ultimately implies that, small businesses or companies who avail their customers the opportunity to pay using a credit card will increase the number of customers that would patronize them because they are typically buying the goods and services on credit.

Generally, there are three (3) main types of credit card and these includes;

I. Debit card.

II. Prepaid card.

III. Retail charge cards.

A retail charge card can be defined as a type of credit card commonly issued by retailers to their customers in order to avail the customers an ability to charge their goods and services to a specific amount that has been established prior to a purchase.

Hence, it is most common in merchant department, car rental firms, oil companies, clothing stores and other high-volume outlets, where customers are likely to make several purchases each month.

Pierce Co. purchased land as a factory site for $500,000. Pierce paid $20,000 to tear down two buildings on the land. Salvage was sold for $2,700. Legal fees of $1,740 were paid for title investigation and making the purchase. Architect's fees were $20,600. Title insurance cost $1,200, and liability insurance during construction cost $1,300. Excavation cost $5,220. The contractor was paid $1,200,000. An assessment made by the city for pavement was $3,200. Interest costs during construction were $85,000. The cost of the land that should be recorded by Pierce Co. is a. $520,240 b. $523,440. C. $524,940. d. $528,140.

Answers

Therefore, the correct answer of Pierce Co. is d. $528,140.

The cost of the land that should be recorded by Pierce Co. is:

Purchase price of land: $500,000
Less: Cost of tearing down two buildings: $20,000
Add: Salvage sold: $2,700
Add: Legal fees for title investigation and purchase: $1,740
Add: Architect's fees: $20,600
Add: Title insurance cost: $1,200
Add: Liability insurance during construction: $1,300
Add: Excavation cost: $5,220
Add: Pavement assessment by city: $3,200
Add: Interest costs during construction: $85,000
Add: Contractor's fees: $1,200,000

Total cost of land = $500,000 - $20,000 + $2,700 + $1,740 + $20,600 + $1,200 + $1,300 + $5,220 + $3,200 + $85,000 + $1,200,000 = $2,019,760

Therefore, the correct answer is d. $528,140.

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Owners' equity is the same thing as
A. gross profit
O B. gross loss
C. net liabilities
O D. net assets

Answers

The answer is D

I’m always right trust me


Which of these is a nonstore retailer?
A. Vending machine
O B. Department store
C. Warehouse club
O D. Supermarket

Answers

A. Vending Machine is a nonstore retailer

A Vending machine is a non-store retailer. Thus option (A) is correct. A retailer is a person or business that you purchase goods from.

Who is a retailer?

A retailer is an individual or an entity that deals directly with consumers. It can be a business that sells and goods and service to consumers through brick and mortar store or an online platform.

A Retailer can be a small store or a large enterprise that deals in an assortment of products. Walmart and Amazon are some of the well-known retailers.

The fact that retailers deal with end consumers is one of the reasons why most of them deal in a wide array of products ranging from clothing to jewelry books as well as electronics.

Most modern retailers typically make a variety of strategic level decisions including the type of store, the market to be served, the optimal product assortment, customer service, supporting services, and the store's overall market positioning.

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Please help............

Please help............

Answers

it would be 900 because 8% of 900 is 72

Many countries have a very similar set-up of central banks' responsibilities such as Financial Market Stability, Monetary Policy and issuing currency. The central authority of the Tanzania money and banking system is the Board of Directors of the Bank of Tanzania.
Required:
Critically describe the purpose and membership of the Board of Directors of the Bank of Tanzania

Answers

The Board of Directors of the Bank of Tanzania is the highest decision-making body in the Tanzanian banking system and is responsible for managing the country's central bank's operations. The Bank of Tanzania is a key component of Tanzania's financial system and is responsible for maintaining financial market stability, executing monetary policy, and issuing currency.

The Board of Directors of the Bank of Tanzania is made up of a Chairman, Vice-Chairman, and four other members. The board is appointed by the President of Tanzania, and its members serve a four-year term. The Board of Directors' purpose is to manage the central bank's affairs in Tanzania, with the Governor being the board's chief executive officer.

The Bank of Tanzania's responsibilities include maintaining financial market stability, regulating commercial banks, conducting monetary policy, and issuing currency. Additionally, the Bank of Tanzania is responsible for managing Tanzania's foreign reserves, as well as advising the Tanzanian government on economic and financial policy matters.

The Board of Directors of the Bank of Tanzania is critical to the central bank's operations in Tanzania, and its members must have extensive experience in banking, finance, and economics. The Board of Directors is responsible for overseeing the bank's operations, setting monetary policy, and ensuring that the bank operates in the best interest of Tanzania's economy.

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Explain five steps in product design for a business

Answers

Explanation:

Five phases guide the new product development process for small businesses: idea generation, screening, concept development, product development and, finally, commercialization.

what does the postal inspection service recom- mend in order to protect you against phony ""one-shot"" credit card offers?

Answers

the Postal Inspection Service recommends that you should shred any unsolicited pre-approved credit card applications or any other financial offers that you don't require to prevent yourself from phony "one-shot" credit card offers.

Here's Phony "one-shot" credit card offers can be prevented by taking necessary precautions. If you receive an unsolicited pre-approved credit card application or other financial offer in the mail, you should shred it before disposing of it. When you shred the documents, you make it difficult for scammers to retrieve your personal information from the papers.

The Postal Inspection Service provides the following recommendations to safeguard yourself from financial frauds:Don't fall prey to the scams by sharing your personal information, such as bank account number, social security number, and other sensitive information to unknown persons. Be vigilant when it comes to financial transactions. Keep track of your bank statements and scrutinize all charges for any unusual or fraudulent activities. Be mindful of your credit score and credit history, and keep checking them periodically. Be mindful of the information you put on your social media profiles as it can be used to steal your identity.

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which of these is mos likely outcome of a financial crisis

Answers

Answer:

More bankruptcies

Explanation:

Financial crises are caused by number of reasons such as stock market crash, liquidity shortage, over-valued assets which make investors sell off their investments hence causes panic withdrawals for customers due to rumored banking collapse etc.

When financial crises occur, the profit due to firms will be eroded because the revenue expected by them is not coming forth. Moreso, the overall corporate profit would also be affected by the financial crises hence bring about loss and subsequent bankruptcies.

Financial crises creates unemployment or massive lay-offs, loss of money hence increase chances of creating more bankruptcies.

what is a quality certification and why is it important

Answers

Answer:

It is important because they indicate that buyers and procurement professionals are dealing with a manufacturer that has reached the highest standards in the industry

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