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RideAnS [48]
3 years ago
9

How is a loan obtained through a pawnshop typically paid off?

Business
1 answer:
Tems11 [23]3 years ago
3 0

Answer:

B. In a single payment, and the collateral is returned

<u>Multiple-choices</u>

A. In multiple payments, and collateral is retuned

B. In a single payment, and the collateral is returned.

C. The lender sells the item to pay off the interest.

D. The lender cashes a postdated check.

Explanation:

A pawn-loan is a credit facility based on collateral provided. Pawnshop issues pawn-loans without any credit history checking. The borrower presents an item of value, either jewelry, electronics, mobile gadgets, or other items resellable to other customers.

A pawnshop typically issues short term loans. The credit period is mostly 30 days. The borrower is should to repay the loan amount plus interest by end of month to redeem their collateral.  Due to the short credit period and the high risk of lending, pawnshops do not usually allow installment repayments.

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Suppose the store wants to earn a daily profit of $150 from the sale of soccer balls. to earn this profit, what price should the
Alex73 [517]

need to solve the equation 150=-6x2+100x-180.  you can subtract 150 from both sides and use the quadratic formula to find x=4.53 and 12.13. this means that if the store sells soccer balls for 4.53$ or 12.13$ it will earn a daily profit of 150$

4 0
3 years ago
Read 2 more answers
A stadium incurs a number of costs to accommodate fans. If a stadium pays $16,000 for labor, $55,000 for leasing parking space,
MatroZZZ [7]

Answer:

12. 21 % ; 41.98 % and  45.80 % as below

Explanation:

Total cost for the stadium is

labor $      $16,000

leasing the parking fee   $55,000

Busing to and from   $60,000

Total cost     $131,000

Percentage per item

1. labor = 16000/131000 x 100

  =12.21 percent

2.leasing parking space= 55000/131000 x 100

     =41. 98 percent

3.Parking space= 60,000/131000x100

   =45.80 percent

5 0
3 years ago
Swan Finance Company, an accrual method taxpayer, requires all of its customers to carry credit life insurance. If a customer di
posledela

Answer:

Recognize an income/loan repayment of $1,300, and cancel the debt of $200 from the earlier recognition of income

Explanation:

Swan would only recognize an income/loan repayment of $1,300 having already recognized an initial income of $200 of the $1,500 owed before the death of the customer.

Accounting entries would be as follows.

Debit Bank account: $1,500

Credit income/loan repayment account: :1,300

Credit receivables: $200.

The credit of $200 in receivables would be treated as shown above due to the income of $200 already recognised and which would have been treated as follows when it was recognized,

Dr: receivables $200

Cr. interest earned $200,

7 0
3 years ago
You borrow money on a self liquidating installment loan (equal payments at the end of each year, each payment is part principal
Schach [20]

Answer:

it to long to read sorry  what is it about now now

Explanation: ask someone else

4 0
3 years ago
uzz Appliances manufactures two products: Food Processors and Espresso Machines. The following data are available: ​ Food Proces
KonstantinChe [14]

Answer:

It will produce 1,500 espresso

and 1,800 food processors

Explanation:

\left[\begin{array}{ccc}&$processors&$espresso\\$Sales&155&245\\$Variable&90&180\\$CM&65&65\\$Constrain resource usage&0.5&0.333\\$CM per constrain&130&195\ \end{array}\right]

As the espresso provides more contribution per machine hours is better to first fullfil the demand for this product:

1,500 espresso / 3 per hous = 500 hours on espresso

1,400 - 500 = 900 hours to produce food processors

outcome: 900 x 2 = 1,800 units

5 0
3 years ago
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