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Marina CMI [18]
3 years ago
9

Conduct online research and find three different types of loans that are available to consumers. For each loan, describe its fea

tures and benefits
along with the costs and risks of the loan. Fill out the table using the information you gathered.
Loan 1
Loan 2
Loan 3
Type of loan
Features/benefits
Costs
Risks

Business
1 answer:
asambeis [7]3 years ago
3 0

Answer:

 

Type of loan <u>credit card</u> unsecured loan <em>retail financing</em>

Features/benefits <u>miles toward travel; no fixed maturity date</u> no collateral is necessary; no fixed maturity date <em>no payment due for the first six months </em>

Costs <u>interest rate of 11 percent</u> interest rate of 10 percent <em>interest rate of 17 percent </em>

Risks <u>can rack up debt quickly; penalties for late or missed payments  </u><em>relatively little risk to the consumer</em> <em> must be paid off in five years , the minimum payments with interest are extremely high</em>

Explanation:PLATO ANSWER

Credit card info is underlines

Unsecured loan is bold

retail financing is in italics

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