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atroni [7]
3 years ago
12

What is the major reason(s) for consumer default on loans?

Business
1 answer:
denis-greek [22]3 years ago
6 0
<span>Major reasons for consumer default on loans can include: missed payments, either known or unknown. This has a negative effect on the consumer's credit score and can limit their chances to take out new lines of credit. A continuation of missed payments results in default. High interest loans are also a major reason for default.</span>
You might be interested in
Help
tangare [24]

Answer:

B a shortage of that item

Explanation:

because the shortage of an item means more people want so that's a great time to earn some extra cash. same thing when they have. too much of an item but instead they lower the price so more people buy it.

8 0
2 years ago
At year-end (December 31), Chan Company estimates its bad debts as 0.50% of its annual credit sales of $823,000. Chan records it
Rudiy27

Explanation:

The journal entries are as follows

On December 31

Bad debt expense Dr  $4,115        ($823,000 × 0.50%)

       To Allowance for doubtful debts  $4,115

(Being the bad debt expense is recorded)      

On Feb 01

Allowance for doubtful debts Dr $412

      To Account receivable $412

(Being the uncollectible amount is recorded)

On June 5

Account receivable $412

          To Allowance for doubtful debts Dr $412

(Being the  uncollectible amount is recorded)

On June 5

Cash Dr $412

   To Account receivable $412

(Being the cash received is recorded)

5 0
2 years ago
Suppose a bond with a 10% coupon rate and semiannual coupons, has a face value of $1,000, 20 years to maturity and is selling fo
NikAS [45]

Answer:

The YTM is less than 10%

Explanation:

If a coupon rate of a bond is greater than its yield to maturity (YTM), the bond is said to trade at a premium. The Bond's current price would be greater than its Face value

If a coupon rate of a bond is less than its yield to maturity (YTM), the bond is said to trade at a discount. The bonds current price would be less than its face value

In this Question, the bond's current price ($1,197.93) is greater than its face

($1,000) which means that the bond is trading at a premium. Therefore, we can conclude that the bond's YTM is less than its coupon payment. In this question the coupon rate is 10%, therefore the YTM should be less than 10%.

8 0
3 years ago
Please help for this question
Rasek [7]

Answer:

task based maybe ?

Explanation:

if it's correct than mark me brainliest

7 0
2 years ago
PLEASE HELP
Scilla [17]

D. Nowzer is an internal customer as a sales distributor.

7 0
3 years ago
Read 2 more answers
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