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The first thing paid when repaying a loan is the principal. True or False?
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- Explain the content and purpose of a credit report?Short term savings and loans are part of whatOn November 4, you get a boat loan. Your first payment is due December 4. You write out your check on December 1, drop it in a mailbox on December 2, it gets postmarked on December 3, and the lender receives it on December 6. For how many days is interest calculated?
- Why should you talk to your banker before beginning to look for a home? to get a building inspector lined up to be declined for a loan to figure out how to go broke buying a home to get pre-approved for a mortgageWhat happens if you don't manage debt properly? You sleep very well at night. You have a perfect credit rating. You end up in a financial mess. Your car gains value when you drive it off the dealer lot.Due today.
- Lenders use your credit score -- to see if you've earned your degree to criticize your financial habits to understand how likely you are to pay back the money you borrow to punish you for having good financial habitsWhat is the cheapest loan?Which type of inquiry damages your credit each time one is made? a soft credit inquiry a hard health inquiry a hard credit inquiry a soft health inquiry
- Why would someone choose a fixed rate loan over a variable rate loan?just part eThe advantage of a loan is that: its transaction costs are low. it can be tailored to the needs of the individual borrower. it can be used by both small and large borrowers. it does not have to be repaid because the borrower can always default.
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