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4 years ago

What types of loans could result in the seizure of your property? Why might that be particularly bad for a Millennial borrower?

Business

1 answer:

leonid [27]4 years ago

4 0

Answer:

What types of loans could result in the seizure of your property?

a secured loan: e.g. a mortgage can result in a foreclosure of the house, an auto loan can result in a repossession of the car, etc. Secured loans generally include mortgages (first, second or even third), mechanics liens and auto loans.
some unsecured loans that require a court judgment can seize your property through a Request and Order to Seize Property. Unsecured loans include credit card loans, payday loans, personal loans, student debt or any other type of loan that is not covered by collateral. Any creditor can request a court judgment to seize your property, but since the court filings cost

Why might that be particularly bad for a Millennial borrower?

Building a good credit is extremely important since it represents paying much lower interest rates for all your loans, e.g. mortgage, credit card, car leases, etc. Many millennial borrowers, including myself, generally made the mistake of accepting too many loans. It is normal that once you start to work banks, large retailers and other financial institutions flood you with cheap loan offers. Many people (me too) think that low rates last forever and that it is easy to pay back your loans. The truth is that most interest rates start low and then after a certain time start to rise and then things get messy. A couple of years ago I decided to dump all my credit cards because they were simply too many (more than I actually needed) and paid them back one by one as soon as I could. Now I only have one credit card which I rarely use (I use my debit card now) and an auto loan.

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The direct labor rate for Brent Corporation is $9.00 per hour, and manufacturing overhead is applied to products using a predete

gayaneshka [121]

Answer:

The actual overhead cost for manufacturing is $21700

Explanation:

Given data:

Pre determine overhead cost = $6

Number of hour of direct labor = 3200 hr

Under applied overhead = $2500

actual manufacturingg overhead cost can be determined as

$actual\ overhead\ cost = [pre-determned\ overhead\ cost \times direct\ labor\ hours] + applied\ overhead$

putting all value to get the required value of actual overhead cost

actual overhead cost $= [$6 \times 3200 hr] + $2500$

$= $19200 + $2500$

= $21700

The actual overhead cost for manufacturing is $21700

7 0

3 years ago

Selected current year company information follows: Net income $ 16,753 Net sales 720,855 Total liabilities, beginning-year 91,93

a_sh-v [17]

Answer:

the total asset turnover is 2.65 times

Explanation:

The computation of the total asset turnover is shown below;

As we know that

Total assets turnover is

= Net sales ÷ average of total assets

= $720,855 ÷ ($91,932 + $206,935 + $111,201 + $133,851) ÷ 2

= $720,855 ÷ $271,959.50

= 2.65 times

Hence, the total asset turnover is 2.65 times

7 0

3 years ago

Oligopolies exist because of barriers to entry. One of the most important barriers to entry is due to economies of scale. Why is

GREYUIT [131]

Oligopolies exist because of barriers to entry. One of the most important barriers to entry is due to economies of scale when it exists, the industry is more likely to be an oligopoly than a competitive one.

A market structure known as an oligopoly occurs when a few large sellers or manufacturers control a sizable portion of a market or an entire sector. Oligopolies are frequently the outcome of corporate collaboration as a way to increase profits. Because of the decreased competition, customers will pay more and workers will earn less.

In an oligopoly, there must be some entry barriers to allow businesses to capture a sizable portion of the market. These obstacles could be economies of scale or brand loyalty. Entry barriers, however, are lower than monopolies.

Several oligopoly-enabling circumstances have been noted. First off, there aren't many big companies in an oligopolistic market. This feature sets oligopoly apart from monopoly, in which there is only one entity.

To learn more about oligopoly refer to:

brainly.com/question/18686878

#SPJ4

5 0

2 years ago

A survey of entrepreneurs who started companies last year shows that while virtually all did substantial preparatory research an

Vitek1552 [10]

Answer: From the given comprehension if the following statement is true, will most seriously weakens the argument: Among the entrepreneurs surveyed, those who did not produce formal business plans sought and received a much larger proportion of their capital from investors with whom they had a long-standing business relationship.

Here it states that, entrepreneurs who were capable of raising funds without thought/design were able to make the capital because of their relation with investors.

Therefore, the correct option here is (c).

6 0

3 years ago

The following information is provided for Sacks Company. Cash $ 12,000 Supplies 4,500 Prepaid rent 2,000 Salaries expense 4,500

MakcuM [25]

Answer:

The amount of total liabilities is $5,000

Explanation:

In this question, we apply the accounting equation which is shown below:

Total assets = Total liabilities + owner's equity

where,

Total assets = Cash + supplies + prepaid rent + equipment

= $12,000 + $4,500 + $2,000 + $65,000

= $83,500

Owner's equity = common stock + ending retained earning balance

where,

Ending retained earning balance = Beginning retained earning balance + net income - dividend paid

The net income = Service revenue - Miscellaneous expenses - salaries expense

= $30,000 - $20,000 - $4,500

= $5,500

Now put these values to the above formula

So, the ending retained earning balance would equal to

= $8,000 + $5,500 - $3,000

= $10,500

And, the owner equity = $68,000 + $10,500 = $78,500

So, the total liabilities would be

= $83,500 - $78,500

= $5,000

4 0

3 years ago