When a person owes more on an item (like a car or house) than it is worth, the person is said to be <u>upside down</u> on the loan.
<h3><u>Describe an upside-down loan.</u></h3>
You have an upside-down auto loan if you owe more money than the car is truly worth. You may need to make additional payments or modify your insurance coverage in order to prevent being upside-down on your loan or, at the very least, to shorten the amount of time you are in this perilous financial situation.
When you owe more on a car loan than the vehicle is worth, the loan is considered upside-down. If your car is worth $12,000 but your loan total is $15,000, for instance, your loan would be in the negative. You have $3,000 in negative equity in this situation.
It's not always a problem to have an outstanding auto loan. If you don't intend to sell your car, you can make loan payments until the balance is paid off. It won't affect the way you communicate with your lender.
Learn more about upside-down loans with the help of the given link:
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Answer:
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Explanation:
Answer:
b. $2,000
Explanation:
The computation of the interest amount is shown below:
= Sale value of goods × rate of interest × (number of months ÷ total number of months in a year)
= $40,000 × 10% × (6 months ÷ 12 months)
= $2,000
The 6 months is calculated from June 30 to December 31.
So, the b option is correct and rest options are wrong.
Answer:
The answer is: Average return Gary earned is 14.97%.
Explanation:
Please find the below for detailed explanation and calculations:
The total increase of Gary's investment in large U.S. stocks from 2012 to 2015 is calculated as : (1+15.05%) x (1+33.35%) x (1+11.50%) + (1+ 2.10%) = 1.747 times. That is, he will get 1,000 x 1.747 = $1,747 at the end of 2015.
The average return of Gary's investment in large U.S. stocks from 2012 to 2015 ( 4 year period) is: [ (The fourth root of 1.747) - 1] x 100% =14.97%.
