Answer: 14.63%
Explanation:
Based on the information given in the question, the effective annual cost of credit will be calculated as:
Effective annual cost of credit = [Interest rate/ (100 - Deposit Rate)] x 100
= [12 /(100 - 18)] x 100
= (12 / 82) × 100
= 0.1463 × 100
= 14.63%
The effective annual cost of credit is 14.63%.
<span>The idea of policy making taking place in response to a predetermined set of rules is referred to as </span>discretionary policy. In Macroeconomics, this<span> is an economic </span>policy<span> based on the ad hoc judgment of policymakers as opposed to </span>policy set<span> by </span>predetermined rules<span>. </span>
In the perceptual process, interpretation is the process of attaching meaning to new knowledge
Answer:
e. Missed loan payments, high balances on credit cards, and personal bankruptcy
Explanation:
If you look at each of these factors, they are all closely related to an individual's past credit history and their ability to pay their debts on time. If you miss your payments or declare bankruptcy, you obviously are not in a very good financial position. Owing too much money to your credit cards is not a good sign since credit cards charge a very high interest rate and they are usually our last option when we consider financing options.
