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mestny [16]
3 years ago
13

A loan that is less risky for a lender and is associated with a valuable asset is called a(n) . Rayna needs to get a new set of

tires for her car, so she uses her credit card. If she does not pay her bills, there is no asset that can be collected. This means she has received a(n) . Jack agrees to take out a mortgage. If he fails to make his payments, the bank may repossess his house. He has received a(n) .
Business
2 answers:
kykrilka [37]3 years ago
8 0

A loan that is less risky for a lender and is associated with a valuable asset is called a <u>"secured loan".</u>

Rayna needs to get a new set of tires for her car, so she uses her credit card. If she does not pay her bills, there is no asset that can be collected. This means she has received an <u>"unsecured loan".</u>  

Jack agrees to take out a mortgage. If he fails to make his payments, the bank may repossess his house. He has received a <u>"secured loan".</u>


A secured loan is a loan which is normally given on a lien. It is ensured by an advantage/hardware. For instance, we can say that anchored advance is taken to a house or a vehicle and it is secured by the equivalent. As it is ensured by the advantage, the financing cost is lower than an unsecured loan and in the meantime, the bank of the advance feels safe.  

On the other hand, an unsecured loan refers to a loan which doesn't have any insurance. That is the reason the hazard natural in the loan gets upgraded. Furthermore, accordingly, the financing cost of the unbound credit is higher than the secured loan.

eimsori [14]3 years ago
4 0
1. secured
2.unsecured loan
3.secured loan
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3 years ago
Caruso Company's SUTA rate for next year is 2.9% because its reserve ratio falls in its state's 8% to less than 10% category [(c
zaharov [31]

Answer:

voluntary contribution  $97150

Explanation:

data provided:

tax rate: 2.3%

reserve ratio- 8-10%

average payroll = $971,500

Assume voluntary contribution ="X "

From the information given in the question we have

\frac{X}{971500} = 10%

here we have taken max reserve ratio  i.e. 10%

"X" = 971500*0.10

       = $97150

we know that, from the question present contribution minus benefit is equal to $93,500

hence, extra contribution = 97150 - 93500 = $3650

extra contribution = $3650

5 0
3 years ago
Liabilities are? a.none of these choices are correct. b.the rights of customers. c.the rights of owners. d.the rights of credito
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Liabilities are the <u>rights of creditors.</u>

<h3>What is a liability?</h3>

A liability is a debt that a person or business has, typically in the form of money. Through the transmission of economic benefits like money, products, or services, liabilities are eventually satisfied.

Liabilities are items that are listed on the balance sheet's right side and consist of debts including loans, accounts payable, mortgages, deferred income, bonds, warranties, and accumulated expenses.

Assets and liabilities can be compared. Assets are items you own or owe money to; liabilities are things you owe money to or have borrowed.

In general, a liability is an obligation that exists between two parties but hasn't been fulfilled or paid for. A financial liability is an obligation in the world of accounting, but it is more specifically characterized by previous business transactions, events, sales, exchanges of goods or services, or anything else that will generate income in the future. Non-current liabilities are typically viewed as long-term obligations because they are anticipated to last more than a year (12 months or greater).

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5 0
1 year ago
The type of account and normal balance of unearned consulting fees is revenue, credit liability, credit liability, debit expense
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3 0
3 years ago
You have saved​ $120,000 for your child to attend college. If it is in an account earning an annual rate of​ 8%, how much can yo
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Answer:

I will take $36,230.5 to pay for the education of child.

Explanation:

Cash Invested in the saving account will earn a return of 8% each year and this amount could be withdrawn by the me to pay for the education of child.

We will use following formula to calculate the annual payments

P = r ( PV ) /  [ 1 - ( 1+ r )^-n ]

where

PV = amount of investment = $120,000

r = rate of return = 8%

n = number of period = 4 years

P = 8% ( 120,000 ) / [ 1 - ( 1 + 0.08 )^-4 ]

P = 36,230.5

3 0
3 years ago
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