1. What are some of the problems with paying only the minimum monthly payment on a credit card? 2. What would you need to do to pay zero interest on a credit card?

Q: How does the credit card company calculate the interest payment?

A: The credit card has been an important tool to increase the purchasing power. This facility has…

Q: 1.) The bank charged Travis a $20 fee because his balance dropped below $0. He knows that he…

A: To avoid bank charges Travis has to clear all his dues and maintain a minimum balance of $0 so, the…

Q: how banking contributes to global warming and poor sustainability.

A: With increasing risk of after effects of global warming it is advised for banks to consider their…

Q: What is the best way to avoid credit card debt? O Buy everything on credit. O Buy only the things…

A: There are many measures that can be taken in order to reduce the credit card debt, Like checking the…

Q: Describe the process of Borrowing with Credit Cards?

A: The credit card has been an important tool to increase the purchasing power. This facility has…

Q: Give an example of a loan repayment plan?

A: A loan repayment plan shows the way in which loan will be repaid. It explains in detail the number…

Q: How fast Can someone get a bank loan?

A: A bank takes into account several things when considering whether or not to extend a loan to…

Q: How much of account verification costs will be assigned to Department A?

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Transactions on a debit card can't affect your credit history. O True O False

A: Answer :-   True    Transactions on a debit card can't affect your credit history.           The…

Q: Distinguish between the present worth of cash and future worth of cash?

A: Present worth of cash : Meaning : It is defined as the current value of future or future value.…

Q: Explain why someone might want to put a “red flag” on their own credit report.

A: A red flag refers to a warning that is put on the credit report if something suspicious, fraudulent,…

Q: Draw or write a diagram showing how the money you put into bank account works to the benefit of the…

A: As an individual when the money is put in the bank account it would benefit anyone as the money is…

Q: Bank A charges 12% compounded monthly on its business loan. Bank B charges 11.8% compounded daily.…

A: The best bank to borrow money can be selected based on the following method.

Q: Does IRS have my direct deposit info?

A: IRS stands for Internal Revenue Service which represents the federal government's revenue services,…

Q: Factors that influence the use of money vs credit cards.

A: Money: Money is an widely accepted instrument used as measure of value, a medium of exchange, a…

Q: What happened to credit standards(down payment, mortgage loan relative to value, and…

A: From the year 1995 to 2005, there were many changes in the real estate market. This led to a change…

Q: How is money can be loaned and repaid?

A: A loan is when an amount of money is given to another party in exchange for repayment of the loan…

Q: Write the Elements of Transactions involving interest?

A: Interest is the payment that is made to the lender by the borrower of an amount in addition to the…

Q: 5 ways to manage credit risk

A: Credit can also refer to an individual's or a company's creditworthiness or credit history. It…

Q: Definition of the initial cash reserve

A: Cash reserves are funds held on hand by a company or a person to meet short-term and emergency…

Q: Q) . __________ are an efficient and convenient way for governments and corporations to borrow…

A: A bond is a fixed income instrument that addresses a credit made by a financial investor to a…

Q: what does it mean when banks are paying people to get loans?

A: The financial system of the nation is considered to be one of the most prominent, and important…

Q: How Do You Manage Your Credit Card Debt?

A: Credit cards have become a everyday part of our lives and is convenient to use. It is often, that we…

Q: How Dalio’s concept about borrowing from one’s future self might change a decision one might make…

A: Debt is when one party borrows something from another, most commonly money. Many businesses and…

Q: How does the bank offer two repayment plans?

A: Loan repayment is an act followed by the borrower to pay back the borrowed amount to the lender. The…

Q: Do the credit card interest rates vary with creditworthiness? how?

A: Yes, the credit card interest rates vary with creditworthiness.  To set the interest rate on the…

Q: Why would people prefer to pay by credit card and pay 12% interest when they have a savings with a…

A: Credit card is a plastic card which is issued by a particular bank that allows the holder of the…

Q: List the elements of Transactions involving Interest?

A: Interest is a charge made to a lender in addition to the principal by a borrower, and it is a…

Q: Describe what consumers should know about credit monitoring services.

A: A credit monitoring service keeps track on borrower behavior in order to alert customers to…

Q: Why certificate of deposit is considered as lending investment

A: Answer-

Q: What are the different types of deposit accounts and loans offered to customers by any one…

A: * ANSWER :-

Q: To deposit and withdraw funds from linked bank accounts, which system call will be used? Withdraw…

A: A linked account is one that is linked to another at the same financial institution so that money…

Q: What are the different Credit System practices of Asia, Europe and United States?

A: A credit system is a means of describing an educational program by methodically awarding credits to…

Q: What is the difference between a secured loan and anunsecured loan?

A: A loan is when money is being given to another party in exchange for repayment of the principal…

Q: You save $1500 a year into a 401(k) account that you invest in a mutual fund earning 7% per year.…

A: Here, by analyzing the information, it can be said that: Annuity (A): $1500 Interest rate (i): 7%…

Q: Most credit cards operate on revolving credit. True or false? Explain how?

A: Revolving credit refers to an arrangement between the customer and the financial institution in…

Q: Question 15 Many credit card companies will let you determine your interest rate and your credit…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Lenders use your credit score -- to see if you've earned your degree to criticize your financial…

A: A credit score is a report that states the person's previous and present loan details, repayment…

Q: What is balance of payment?

A: Economics is a social science that discusses economic behavior regarding their unlimited wants in…

Q: what is the difference between Credit and Consumer credit?

A: Introduction Credit is a types of arrangement to receive cash or any service which you can use in…

Q: Your merchant fee is 2%. Your customers paid you $120,000 through credit cards. What fee must you…

A: The fee that needs to be paid to the credit card company can be calculated by calculating the…

Financial Institutions and Federal Bank

The word financial institution is a kind of business organization that deals with the financial activities of a nation. These activities include accepting deposits, making payments, granting loans and advances, transferring funds, holding shares, providing credits, purchasing and selling foreign exchanges, investments in shares, futures commodities, and many more.