You expect to have in one year. a bank is offering loans at interest per year. how much can you borrow today? today you can borrow $ 943.

Question

12-09-2022
Business

Answered

You expect to have in one year. a bank is offering loans at interest per year. how much can you borrow today? today you can borrow $ 943.

Answer :

Other Questions

You've completed the gathering point inventory, and you have six checkmarks. How will you use this information?

A _____ is targeted to borrowers with low credit scores, high debt-to-income ratios or signs of a reduced ability to repay the money they borrow.

Although you have to get ready for a date, you are considering playing one more video game. You will choose to play the game if?

F lucy earns a 10 percent after-tax rate of return, $16,000 received in four years is worth how much today? use exhibit 3. 1. (rou

Lorenzo had two jobs last year, and he received two W-2 forms. On the first W-2 form, the figure in box 1 was $20,238.89, while on the second W-2 form, the figu

In health insurance, what is the amount of money that must be paid by the patient each year before the insurance agency begins to make payments?.

Without buying points, a monthly mortgage payment will be $958. buying 1 point at closing would reduce the payment to $948.75. if each point costs $1000.00, rou

Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the manufacturing overhead overapplied or underappl

A company wishes to determine the eoq for an item that has an annual demand of 2,000 units, a cost per order of $75, and annual carrying cost of 7. 50 per unit.

tutorconsortium215 tutorconsortium215 · Answer 1 · 2022-09-14T22:17:53-04:00

A charge for lending money is interest. You pay mortgage interest when you borrow money from a bank to purchase a home. Additionally, you pay credit interest if you borrow money for a significant purchase. Banks, on the other hand, charge you a fee if you trust them with your savings. The interest rate on savings is currently 0, close to zero, or even negative for significant sums.

The market mechanism, or the link between supply and demand for loans and savings, determines how high or low interest rates are. Interest rates are low when there is a high supply of savings or when there is minimal demand for loans. Additionally, interest rates increase when loan demand rises. This is comparable to other product pricing.

To learn more about Interest from the given link.

https://brainly.com/question/25793394

#SPJ4