Answer:1)Collateral:This is an asset a lender or accepts from a borrower as a security for a loan, incase the borrower does not pay back the lender can take the collateral.
2)Repayment schedules:This is a document that contains the specific terms of a borrower's loan such as monthly payment,interest dates due dates e.t.c.
3)Annual percentage rate(APR):This is the interest rate for a whole year.It is an interest charged to borrower's and paid to investors.
4)Difference between secured loan and unsecured loan:A secured loan is a loan that is connected or protected with a piece of collateral while an unsecured loan is a loan that is not protected with any collateral.
5)Rights when using credit cards:The right to ask for a credit report,The right to have inaccurate information removed or corrected,The right to accurate billing statements,The right to advance notice for any changes.
Explanation:
<u>Pat</u><u>, because of the effects of </u><u>effort justification.</u>
<h3><u>What is justification for effort?</u></h3>
The tendency for people to rate a task or activity higher when it involves anything challenging or unpleasant. When there are no evident justifications for performing the task, the outcome is most likely to happen. Because exerting effort to complete pointless or unpleasant work, or suffering unpleasant consequences, as a result, is cognitively inconsistent (see cognitive dissonance), it is hypothesized that people will change their assessments of the task to be more positive in order to restore consistency.
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Edward T. Hall developed the Iceberg Model of Culture in
1976. He hypothesized that culture was
like an iceberg in that there were two kinds: internal and external. External is
the outer manners of a society while internal are the principles, standards,
and thought patterns underlying those behaviors.
