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Andrei [34K]
3 years ago
13

What is credit? What is debt? What does your credit score tell lenders about you? What are four tips for using credit wisely? Wh

at are three alternate ways of building up enough credit to get a credit card? What is a loan? What is the principal? What are assets? What is collateral? What is installment credit? What is noninstallment credit? What is revolving credit?
Business
2 answers:
Leto [7]3 years ago
8 0

Credit is the amount of money that a company will lend to you, and debt is the amount of credit that you have borrowed and still owe.

Your credit score has many components: payment history, amount of available credit that you are using, length of your credit history, types of accounts (credit mix), and new credit.

A loan is a type of credit, and assets are things of value  that you own by yourself without owing money on them.

Collateral is assets that you can use to secure a loan, so that if you don't pay what you owe the lender can take those assets from you to recover the amount you owe them.

Installment credit is a loan that you pay in chunks every month/year. Revolving credit is automatically renewed as you pay off the debt. If the credit amount is $1000, and you borrow $500 you will have $500 left. If you then pay off $200 you will automatically have $800 of credit available to you.

Minchanka [31]3 years ago
3 0

Answer:

Credit is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately, but promises either to repay or return those resources at a later date.  

Explanation:

You might be interested in
Suppose the country of Lilliput exported $ 293 billion worth of goods and imported $ 405 billion worth of goods in the last cale
wlad13 [49]

Answer:

A trade deficit.

Explanation:

Given that,

Value of exports = $293 billion

Value of imports = $405 billion

Balance of trade refers to the difference between a country's value of exports and its value of imports for a given time period.

Balance of trade:

= Value of exports - Value of imports

= $293 billion - $405 billion

= -$112 billion

Therefore, this country has a negative trade balance and it is reflected as a trade deficit.

7 0
3 years ago
The future value and present value equations also help in finding the interest rate and the number of years that correspond to p
bonufazy [111]

Answer:

r = 4% at this rate a principal of 12,800 returns 16,843.93 in seven years

Explanation:

We will calculate the interest rate at which a principal of 12,800 return 16,843.93 in seven years

Principal \: (1+ r)^{time} = Amount

Principal 12,800

time 7 years

rate         ?

Amount 16,843.93

12800 \: (1+ r)^{7} = 16,843.93

(1+r)^{7} = 16,843.93\div12,800\\\\r =\sqrt[7]{16,843.93\div12,800} -1

r = 0.0400

r = 4%

3 0
3 years ago
What are the three most important questions you should ask candidates during the interview process? Why are these important ques
vodka [1.7K]

Answer:

ability motivation suitability

Explanation:

3 0
1 year ago
An individual with a shortage of b vitamins (which include thiamine and riboflavin may feel fatigued as a result of decreased py
SSSSS [86.1K]
Thiamine deficiency would eventually lead to a mental disoreder named <span>Wernicke-Korsakoff syndrome. This mental deficiency involves nerve damages in both the central and peripheral nervous system. On the other hand, riboflavin defiency would likely cause anemia and dermatitis.</span>
8 0
3 years ago
Doe Manufacturing plans to sell 6,000 purple lawn chairs during May, 5,700 in June, and 6,000 during July. The company keeps 15%
lora16 [44]

Answer: 5,745 units

Explanation:

Given that,

Plans to sell:

6,000 purple lawn chairs during May

5,700 in June

6,000 during July

company keeps 15% of the next month's sales as ending inventory

Units should Doe produce during June:

= Sales in June + Ending inventory (15% of July sales) - opening Inventory (15% of June sales)

= 5,700 + 900 - 855

= 5,745 units

6 0
3 years ago
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