1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Irina-Kira [14]
3 years ago
9

APR on a loan may be adjusted based on a borrower’s

Business
2 answers:
horsena [70]3 years ago
8 0

APR on a loan may be adjusted based on a borrower’s

credit history

Nimfa-mama [501]3 years ago
5 0

 

<u>Option B is correct. APR on loan may be adjusted base on a borrower’s credit history. </u>

Further Explanation:

The percentage rate is the full form of APR. It is the interest rate charged by the loan or credit provided to borrowers. It depends on the credit history of the borrowers. After reviewing the credit history of the borrower, the current APR is determined by the new provider. APR is computed by the summation of the interest and principal of the previous loan by dividing the months taken to pay back the amount of loan.

Justification for the correct and incorrect answer:

A.

Offered collateral: This option is incorrect.

Collateral is the security that has been deposited before taking the loan or credit from the loan provided. If in the future, the borrower may not able to pay the amount of credit, the provider may sell the security to get back his money back. Collateral is depended on the amount of loan or credit that has been taken. This statement is incorrect that APR may be adjusted on offered The annual.  

B.

Credit history: This option is correct.

After reviewing the credit history of the borrowers, the current APR determined by the new provider. This is the correct statement.

C.

Loan fees: This option is incorrect.

Loan fees are the number of fees that have been paid by the borrowers before taking the loan. Loan fees contain the expenses on paperwork and extra fees that may be charged.

D.

Scheduled repayments: This option is incorrect.

Scheduled repayments are not the basis of determining the APR. This statement is not correct.

Learn more:

1. Learn more about credit card

<u>brainly.com/question/1218973 </u>

2. Learn more about loan

<u>brainly.com/question/1242264 </u>

3. Learn more about repayment

<u>brainly.com/question/9276142 </u>

Answer details:

Grade: Middle School

Subject: Accounting

Chapter: Money and Banking

Keywords:APR, loan, adjusted, borrower’s, offered collateral, credit history, loan fees, scheduled repayments, money and banking, interest, principal, security.  

You might be interested in
Why do i sometimes need to chose between my wants and needs
maksim [4K]

Answer: needs are more important than wants ! you need to water to survive but want the new PS5.

Explanation:

8 0
1 year ago
To minimize the invasion of privacy, _____.
astraxan [27]

Answer:

A. users should be able to review their records and correct any inaccuracies .

Explanation:

Once a transaction is noted and recorded in the software, there shall be access to the user only who had recorded the same, as this will provide for security and accuracy both.

If any third party is allowed to have the access to alter the records in the books then that can ruin the principle of maintaining privacy. Also in that case the responsibilities shall not stand to be completed as this calls for sharing responsibilities, and people will blame each other.

Thus, the user shall be alone to make any changes in the data already recorded by him.

8 0
2 years ago
Land costing $77,900 was sold for $99,800 cash. The gain on the sale was reported on the income statement as other revenue. On t
Harlamova29_29 [7]

Answer:

$99,800

Explanation:

The statements of cash flows show cash inflows and out flows from the business activities which are recognized as operating, investing and financing activities.

When an asset is sold, the amount received from the sale of the asset is recognized as an inflow in the investing section of the cash flow statement.

The gain/loss from the sale would have been treated in the operating section based on the effect it had in the income statement while computing the net income of the company.

4 0
3 years ago
Why do you think wants is less important?​
viktelen [127]

Answer:

Wants is less important because you don't need it/them to survive, you can live with only your needs, you should only get your wants only if you can afford it and still have enough money for needs.

Explanation:

I don't know if that made sense lol

3 0
3 years ago
The assumption that in the absence of contrary information a business entity will continue indefinitely is the:
const2013 [10]

Answer:

(D) Going concern assumption.

8 0
3 years ago
Other questions:
  • Does compound interest have more of an impact for short-term investments or long-term investments? Why?
    5·1 answer
  • _________ payments are known as lump sums. We can solve for the future value or the present value of a lump sum as we discuss be
    6·1 answer
  • What is customer service? A. interacting with customers B. interacting with employees in a company C. researching people’s wants
    9·2 answers
  • On July 1, 2017, Lopez Company paid $1,200 for six months of insurance coverage. No adjustments have been made to the Prepaid In
    12·1 answer
  • When placing the vehicle in motion, it is strongly recommended that the last task you perform is to release the parking brake. w
    14·1 answer
  • Which of the following is incorrect when performing overhead work?
    12·1 answer
  • Which of the following compensation options helps pay for premiums that cover expenses resulting from the death of an employee?
    15·1 answer
  • A project has sales of $511,800, costs of $322,400, depreciation of $22,620, interest expense of $3,062, and a tax rate of 34 pe
    8·1 answer
  • Finley Company
    14·1 answer
  • suppose the mpc in an economy is 0.95. the apc is initially 0.55 and disposable income is $6 billion. if disposable income incre
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!