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Hitman42 [59]
3 years ago
13

Three different financial institutions that offer money management tools

Business
2 answers:
blondinia [14]3 years ago
6 0

Answer:

Quicken Loans: (http://www.quickenloans.com/mortgage-calculator/mortgage-amortization-calculator).

Quicken Loans is a financial institution that provides consumers with access to an amortization calculator that uses amortization schedules. It allows customers to type in their current loan amount, the loan term, interest rate, and current state. It also provides the option to see how extra payments affect the current loan. Once the information is inputted, the calculator provides the monthly payment, total interest paid, and a line graph showing a payment breakdown of principal paid and interest paid. The closer the payments get to the end of the loan, the more the principal is paid. This amortization schedule calculator could be used to determine whether extra payments on a second mortgage would be useful. Using the amortization tables shows that by just increasing monthly payments by $50, 48 monthly payments were saved. This tool is excellent for determining whether to increase monthly payments or not.

J.P. Morgan Chase and Co.: (https://www.chase.com/mortgage/mortgage-resources)

Chase bank offers a mortgage calculator that can be used to estimate monthly mortgage payments. The calculator asks for the loan purpose (purchase or refinance), the property type (single family home, condo, investment property), the use of the property (primary residence, second home, rental property), the house price, down payment, and credit rating. After inputting all that information, it calculates what interest rate it would offer and the monthly mortgage payment options. It offers fixed rate loans at 30-yr, 20-yr and 15-yr intervals. It also offers adjustable rate loans for 7/1 ARM (Adjustable Rate Mortgage) and 5/1 ARM. It also allows you to see real estate taxes and hazard insurance associated with the state the house is located in. This tool is useful to because it immediately provides consumers with current interest rates, points, APR and monthly payments. Right away consumers can easily see if they can afford the house they want and what options work best. This tool is definitely useful for first-time home buyers or those looking for a vacation or retirement home.

Wells Fargo: (https://www.wellsfargo.com/online-banking/my-money-map/budget-watch)

Wells Fargo has a budgeting tool called Budget Watch. The goal of Budget Watch is to track spending, set up financial goals, and help consumers manage their money. The first step is to create a budget. The consumer sets up budget goals and the Budget Watch calculates a 12-month average savings goal. The consumer then inputs expenses into the system daily and the Budget Watch calculates how much money came in and how much money went out for the month. It also states "what's left" in bold at the bottom. The tool also has the option for email alerts to keep the consumer aware of progress toward budgeting goals. There are graphs and charts that display which spending items are within budget and which are over budget. This tool is useful for anyone who has a hard time tracking expenses and where the money went. This is a pre-savings tool because it is meant to address checking account spending. The idea is to reach checking account budget goals in order to save. This would be a great tool for a high-school or college student or a young adult learning to juggle finances. It definitely breaks down financial responsibility and allows the user to see what expenses are necessary and where the spending needs to be cut back.

masya89 [10]3 years ago
3 0
Did you ask this for Edmentum? lol I'm doing the same tutorial.
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Monopolistic competitors in the food industry, acting in their own self-interest, will often include a recyclable symbol on pack
anygoal [31]

Answer:

Differentiate their products

Explanation:

A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopoly has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.

examples of monopolistic competition are restaurants

A monopolistic firm in the food industry acting in their own self-interest, will often include a recyclable symbol on packaging used for their product to Differentiate their products. This is meant to communicate to consumers that they are different from other firms in the industry

5 0
3 years ago
The fundamental idea behind _____ is that corporations have duties that go beyond lawful execution of their economic function.
Simora [160]

Answer:

Corporate Social Responsibility.

Explanation:

Corporate social responsibility is a form of foreign self-regulation of a private enterprise aimed at contributing to public objectives of a philanthropic, political or humanitarian nature or by participating in or promoting voluntary or ethically driven activities.

  • Social Operating License can be described as a statutory basis for the legality of the operations and the participation of the organization in the ventures.
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5 0
3 years ago
The following transactions occur for Cardinal Music Academy during the month of October: Provide music lessons to students for $
givi [52]

Answer:

See explanation section

Explanation:

1. Debit     Cash                   $17,000

Credit            Service revenue (music)       $17,000

<em>Note: The academy receives cash by providing music services to the students.</em>

2. Debit     Prepaid Insurance          $4,200

Credit                    Cash                                 $4,200

<em>Note: The academy paid cash in advance to purchase insurance policy.</em>

3. Debit    Musical Equipment           $20,000

Credit                     Cash                                    $20,000

<em>Note: The academy paid cash for acquiring musical equipment.</em>

4. Debit     Cash                              $30,000

Credit             Notes payable                           $30,000

<em>Note: The academy borrowed cash by signing a notes from the bank.</em>

8 0
3 years ago
Which statement best describes the difference between an epidemic and a pandemic?
ollegr [7]

Answer:

An epidemic is contained to a region, and a pandemic is global.

Thank you.

BY GERALD GREAT.

8 0
2 years ago
A two-year Treasury security currently earns 5.13 percent. Over the next two years, the real interest rate is expected to be 2.1
pshichka [43]

Answer:

maturity risk premium = 1.23 %

Explanation:

given data

currently earns =  5.13 %

real interest rate = 2.15 %

inflation premium = 1.75 %

solution

we get here maturity risk premium that is express as

maturity risk premium = currently earning -  real interest rate - inflation premium    .................1

put here value and we get

maturity risk premium = 5.13 % - 2.15 %  - 1.75 %

maturity risk premium = 1.23 %

8 0
3 years ago
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