1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Morgarella [4.7K]
2 years ago
10

How are payday lenders different from a bank or credit union

Business
1 answer:
Evgesh-ka [11]2 years ago
4 0

The payday lenders are different from a bank/credit union because of its mode of repayment services.

<h3>What is payday loan?</h3>

The payday loan is a short-term borrowing based where the lender will usually impose higher-interest credit based on the borrower's income

Let understand that the similarities between the payday lenders and bank/credit union is the credit service they provided to borrowers.

However, what makes the Payday loans different from banks loans is the duration of repayments.

Unlike other types of loans, the payday loans repayment period is usually shorter, a minimum of a month to a maximum of 24 months.

In conclusion, the payday lenders are different from a bank/credit union because of its mode of repayment services.

Read more about payday lenders:

<em>brainly.com/question/25239160</em>

You might be interested in
An important function of the regional Federal Reserve Banks is Question 2 options: A) clearing checks. B) determining monetary p
zysi [14]

Answer:

B) determining monetary policy AND D) setting reserve requirements.

Explanation:

The Federal Reserve Bank is comprised of 12 regional Federal Reserve Banks that are each responsible for a specific geographic area of the U.S.

The Fed's main duties include <u>conducting national monetary policy, </u>supervising and regulating banks, maintaining financial stability, and providing banking services.

Furthermore, In the United States, the Federal Reserve Board of Governors <u>controls the reserve requirement</u> for member banks.

3 0
2 years ago
The process of lengthening a customer's lifetime value over time is ________. a cross-promotional marketing b cause-related mark
oksano4ka [1.4K]
<span>The process of lengthening a customer's lifetime value over time is called the longevity effect. The longevity effect helps businesses earn money from customers that continually come back to buy more products. For this reason, it is important to nurture relationships with customers and keep them satisfied.</span>
4 0
3 years ago
List three reasons that people should pay their taxes.
adelina 88 [10]

Improved Healthcare and Education

A significant chunk of the collected taxes is spent on improving healthcare in the country. There are government hospitals that offer medical services without any cost or at minimum cost. Over the years, the quality of service provided by government hospitals has improved by leaps and bounds, and it has only happened because of taxpayers paying tax.

Helps Build the Nation

The cost of running an entire country, especially one that is as large and populated as ours, is humongous. It is through the taxes we pay that the government can perform civil operations. In other words, without taxes, it would be impossible for the government to run the country.

Avoid Tax Back

When being confronted with back taxes we owe the government, we often think of ways to cut back on it. Well, most tax laws understand the hardships of every taxpayer. Though, tax services are available for those who are delinquent in paying their taxes, which is a helpful opportunity to people who don’t have available money or funds.

6 0
3 years ago
Read 2 more answers
The current interest rate on a savings account is 1.85%. The current inflation is 1.9%. What is the real dollar return on this a
kogti [31]
1.67 is the correct answer
8 0
3 years ago
Read 2 more answers
Point b represents an outcome in which select one:
Tatiana [17]
C.the economy is using all of its resources to produce books
8 0
3 years ago
Other questions:
  • A politician is interested in the proportion of voters in his district who think he is doing a good job.
    11·1 answer
  • Supporters of rent control say that it _____ the price of renting an apartment.
    8·1 answer
  • Adding up all of the income in an economy in a given year is one approach to calculating which of the following?
    9·2 answers
  • In which of the following forms of doing business does the death of one of the owners cause dissolution? a. nonprofit corporatio
    6·1 answer
  • With the start of each new era in japan, the country's capital changed locations. why?
    14·1 answer
  • Mussatto Corporation produces snowboards. The following per unit cost information is available: direct materials $16; direct lab
    10·1 answer
  • A sudden fall in the market demand in a competitive industry leads to a. A short run market equilibrium price lower than the ori
    9·1 answer
  • LP Gas has a cost of equity of 16.31 percent and a pretax cost of debt of 7.8 percent. The debt-equity ratio is .56 and the tax
    8·1 answer
  • M13-9 Inferring Financial Information Using the Current Ratio [LO 13-4] Mystic Laboratories reported total assets of $10,500,000
    9·1 answer
  • Which of the following represents an opportunity for generating a new product?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!