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OLEGan [10]
3 years ago
8

What are some financial consequences that could happen to a borrower if he or she cannot pay back a car loan from a financial in

stitution?
Business
1 answer:
Cerrena [4.2K]3 years ago
3 0

The bank can repossess the car and if anything is used as collateral they can claim that as well. It is best to not get yourself in debt you cannot pay off.

One way to calculate debt is to figure out what your income is per week, and divide that by the weekly payments for the car. Lets say you make 3200, and your debt is 450 a week.

As shown below

<em>Income ÷ Payments </em>

3200 ÷ 450 = 0.14

Now multiply that by 100 to get your percentage,

0.14 x 100 = %14

Financial advisors recommend that you keep your debt-to-income ratio under 30%.

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A company has the following balances in its asset accounts: Cash, $750; Accounts Receivable, $125; Equipment, $2,000; Supplies,
SCORPION-xisa [38]
It would be, 750 + 125 + 2,000 + 875 so the company's total assets is  3,750$
Hope this helps!  
8 0
3 years ago
Read 2 more answers
A waiter fills your water glass with ice water (containing many ice cubes) such that the liquid water is perfectly level with th
Dafna11 [192]

Answer:

As the ice melts and turns into water, the level of the liquid water will lower and it will no longer be perfectly leveled with the rim of the glass. This happens because water has a unique property, its solid state occupies a larger volume than its liquid state, i.e. as waters turns into ice, it expands and occupies more space. Generally, as liquids become solid, they will shrink and occupy less space, but that doesn't happen with water.

Explanation:

3 0
3 years ago
In a fuel economy study, each of 3 race cars is tested using 5 different brands of gasoline at 7 test sites located in different
romanna [79]

Answer:

210

Explanation:

  • The number of race cars = N₁ = 3
  • The number of gasoline brands = N₂ = 5
  • The number of test sites = N₃ = 7
  • The number of drivers that participated = N₄ = 2

This study must include each N₁, and it has to be done at each N₃, using each N₂, while carried out by each N₄ ⇒ that means that the total number of possibilities:

N₁ x N₃ x N₂ x N₄ = 3 x 7 x 5 x 2 = 210

The total number of test runs is 210.

4 0
3 years ago
zzy Division of Marine Boats Corporation had the following results last year​ (in thousands). Sales $ 4 comma 700 comma 000 Oper
o-na [289]

Answer:

C. $ 168 comma 000

Explanation:

The computation of the residual income is shown below:

= Operating income - minimum return

where,  

Operating income is $600,000

And, the minimum return equal to

= Invested asset amount × minimum rate of return

= $3,600,000 × 12%

= $432,000

Now put these values to the above formula  

So, the value would equal to  

= $600,000 - $432,000

= $168,000

We simply applied the above formula

3 0
3 years ago
Your company wants to hire a third-party vendor to handle all of the customer service calls because they are a well-known leader
Sveta_85 [38]

Since the answer is not provided, I am providing reasons for the given situation

Explanation:

  • Understand that customers are king. A business can exits only if you have customers. You must maintain a good-rapport which the crucial part of it.
  • When we out-source the customer service calls there are certain pointers which has to be taken into account.
  • If the third-party handles your own customer, and if the approach is not right, then you will lose business
  • The money that we spend on third party costs more and now my company have consistently reduced expenses only because of not outsourcing customer calls to third-party vendor.
5 0
4 years ago
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