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Maslowich
3 years ago
11

Why do housing lenders charge more interest up front?

Business
1 answer:
NISA [10]3 years ago
7 0
Why do housing lenders charge more interest up front? More interest is charged up front because the outstanding balance of the loan is higher. As time passes and the loan starts getting paid down, the amount of interest that is paid to the lender also goes down. If you look at a mortgage statement it appears the first few years are all mainly interest because the loan is much higher. The more time you spend paying your home loan, less money will go to interest. 
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On June 1, Crane Company Ltd. borrows $99,000 from Acme Bank on a 6-month, $99,000, 8% note. The note matures on December 1. Cor
azamat

Answer:

Explanation:

The journal entry is shown below:

On June 1

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Unit Test
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Andrew [12]
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3 years ago
What is bank run ? in your own words.​
postnew [5]

Answer:

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Explanation:

A bank run occurs when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future

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