Answer: convenience.
Explanation:
Borrowing involves obtaining an item at a current time where payment is made at a later time. Borrowing in most cases seems convenient but in the long run the individual that borrowed must pay for what he/she borrowed to obtain. Borrowing is costly for a consumer because the consumer is required to pay for what they borrowed and in most cases at a higher cost.
Answer:
B. Director, State Emergency Management Agency
Explanation:
Midland school district needs $56,483. the taxing authority has determined that the total assessed value of all the real estate in the district is $8,825,470. find the property tax rate to the nearest hundredth of a percent.
0.64%
Answer:
Explanation:
Does Caroline have any closed accounts How long does a closed account stay on a person's credit report?
Regardless of whether it's a loan or credit card, a closed account can still affect your score. According to Equifax, closed accounts with derogatory marks such as late or missed payments, collections and charge-offs will stay on your credit report for around seven years.
Answer:
- Interest rate on 2years loan term is $435.6
- Interest rate on 5years loan term is $1,452
Explanation:
Using the formula for calculating amount
Amount = Principal + Interest
Simple Interest = Principal × Rate × Time/100
To finance a car for $4,840 at a 4.5% interest rate on a 2-year loan,
Principal = $4,840
Rate = 4.5%
Time = 2years
SI = 4840×4.5×2/100
SI = 43560/100
SI = $435.6
Interest rate on 2years loan term is $435.6
Amount after 2years loan term will give $4840+$435.6
= $5,275.6
Monthly cost = $5,275.76/24
Monthly cost of car = $219.82
b) To finance the same car of $4,840 at a 6% interest rate on a 5-year loan,
SI = 4840×6×5/100
SI = 145200/100
SI = $1,452
Interest rate on 5years loan term is $1,452
Total cost by loan term = $4840+$1452
= $6,292
Monthly cost of car = $6,292/5×12
Monthly cost of car = $104.87