Which of the following loans will typically have the highest interest rate?
2 answers:
will typically have the highest interest rate. Option (D) is correct.
Further Explanation:
Given:
The options are as follows.
(A) Credit card
(B) Car loan
(C) Mortgage
(D) Payday loan
Explanation:
Payday loan has usually high interest rate as they are for very short term. The amount of payday loan is usually less.
The payday loans are unsecured loan.
An example of payday loan is borrowing money for short period of time.
will typically have the highest interest rate. Option (D) is correct.
Option A is not correct as the credit card loans don’t have the highest interest rate.
Option A is not correct as the car loan don’t have the highest interest rate.
Option A is not correct as the mortgage don’t have the highest interest rate.
Option D is correct as the payday loan will typically have the highest interest rate.
Learn more:
1. Learn more about inverse of the functionhttps://brainly.com/question/1632445.
2. Learn more about equation of circle brainly.com/question/1506955.
3. Learn more about range and domain of the function brainly.com/question/3412497
Answer details:
Grade: High School
Subject: Mathematics
Chapter: Credit Risk
Keywords: probably, bills, high balance, high credit, bills on time, depts., pay off depts., credit cards, debit cards, high credit score.
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The given sequence is neither arithmetic nor geometric.
Further explanation:
In order to check whether a sequence is geometric or arithmetic we have to find the common ratio and common difference respectively
Common difference is the deifference between cunsecutive terms of a sequence while common ratio is the ratio between two consecutive terms.
Common difference is denoted by d and common ratio is denoted by r
- If the common difference is same then the given sequence is an arithmetic sequence
- If the common ratio is same then the given sequence is a geometric sequence
Given
1, 3, 6, 10, 15
Common difference:
Here
As the common difference is not same, the given sequence is not an arithmetic sequence
Common Ratio:
As the common ratio is also not same the sequence is not a geometric sequence.
The given sequence is neither arithmetic nor geometric.
Keywords: Arithmetic sequence, Geometric Sequence
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