When determining how much money a person will need to borrow in loans for each year of higher education, the person need to take into account future value and the interest rates.
<h3>What is loan?</h3>
A loan is a financial transaction in which one or more individuals, organizations, or other entities lend money to other persons, organizations, or entities.
The recipient incurs a debt and is normally responsible for paying both interest and the principal amount borrowed until the obligation is repaid.
A person must take an account the future worth and interest rates when computing how much income you will be needed to borrow for every year of your higher education.
Therefore, borrower must take into account the future value and interest rates.
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Answer:
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Answer:
encouraging the settlement of frontier lands.
Explanation:
The Northwest Ordinance, also known as the Ordinance of 1787, was a policy that established a governmental structure and the procedures to admit territories as a state in Union. The Ordinance also guaranteed equality to the newly states with the original thirteen states.
The Homestead Act of 1862 was an act passed by President Abraham Lincoln. The act granted Americans, including freed slaves, to claim public lands in the West for a small filing fee up to 160 acres. The landowners were required to build a home, farm the land, and make it a resident place for five years.
Therefore, both the acts were passed to encourage the settlement of frontier lands.
answer:
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