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3 years ago

The financial institution that generally charges the lowest rates on loans is a

Advanced Placement (AP)

1 answer:

Nataly_w [17]3 years ago

6 0

The correct answer is a Credit Union.

Credit Unions are able to charge lower rates than a bank because of their structure. Banks are set up as a for-profit business, so they charge more in order to make themselves more profitable. Credit Unions are set up like cooperatives where the customers own them, or like a non-profit organization. This allows Credit Unions to charge lower rates. Additionally, the Credit Unions normally distributes the profit back to the customer.

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See other part of the question below

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True

False

Unknown

2. When a customer is dissatisfied and goes elsewhere, he/she will take 10 customers with him/her

True

False

Unknown

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True

False

Unknown

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True

False

Unknown

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