Personal Finance (MindTap Course List)
13th Edition
ISBN: 9781337099752
Author: E. Thomas Garman, Raymond Forgue
Publisher: Cengage Learning
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You can obtain expensive loans from
Select one:
a.
chartered banks and credit unions.
b.
banks through credit cards.
c.
parents or family members.
d.
finance companies and retailers.
Going to a bank and applying for a mortgage loan would be an example of what type of financing?
Group of answer choices
Equity Financing
Debt Financing
Liquidiity Financing
Abraham Lincoln
Discuss the basics of loan amortization and develop a loan amortization schedulethat you might use when considering an auto loan or home mortgage loan.
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- Identify the various sources of consumer loans.arrow_forward: Provide example of accounting treatment for transactions related to loan in two situations as following Personal loan Personal guarantees The accounting treatment include the payment of the loan and return the loan to the bank , interest rate , commissionarrow_forwardWhich of the following is not a common source of funds for a small business: Banks Equity in your home Margin Accounts Personal Savings A Promissory Note states which of the following: The amount of the loan The collateral for the loan The interest rate of the loan All of the abovearrow_forward
- What are some fees that you can should be looking at BEFORE applying for a credit card?arrow_forwardWhat type of loan/s these banks offer? Explain how they use this type of loan among their clients.arrow_forwardCommercial banks are the principal providers of loan finance to the household sector. Identify five different types of loan finance that a bank offers to individuals. Briefly explain the structure and operation of each of these types of loans.arrow_forward
- Suppose you go to your local bank, intending to buya certificate of deposit with your savings. Explain whyyou would prefer this to offering a loan, at an interestrate that is higher than the rate the bank pays oncertificates of deposit (but lower than the rate the bankcharges for car loans), to the next individual who entersthe bank and applies for a car loanarrow_forwardIn quickbooks, Describe the steps used to record an automatic loan payment that appears on a bank statement.arrow_forwardExplain mortgage financing and how can someone afford a mortgage loanarrow_forward
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