why is it critical for consumers to truly understand the effect of interest on their credit cards?

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 challenges would you face if we lived in a society without money and would require a barter…

A: Barter system is a economic system where goods are exchanged in terms of another goods.

Q: Use PMT= 1- -nt to determine the regular payment amount, rounded to the nearest dollar. Your credit…

A: given that, Principal(P) =$3200 rate of interest(r) = 0.12 time (t) = 2 years n = 12

Q: Your friend Tim wants to open a checking account, but he's not sure how to do it. List the steps.

A: A checking account is a sort of bank account that enables you to deposit and receive money for…

Q: You may be tempted to think you’re all set once you have a checking account, but it’s important to…

A: Checking accounts are the accounts that help to use the money whenever required. They are considered…

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: Explain Methods of Calculating Interest?

A: Answer -  Interest = It is the extra amount of money a lender which charge to a borrowers.  there…

Q: Why might a firm prefer to borrow funds via a CP issuance rather than through a credit line?

A: Commercial Paper (CP) is a short-term financial product made up of bearer-issued, unsecured…

Q: Which of the following is a personal financial asset? a. A payday loan b. A mortgage loan c. A…

A: A financial asset is a tradable instrument or other tangible property that represents a legal claim…

Q: What are the reasons that young people might decide not to open a bank account?

A: A bank account is a financial account opened and maintained with a bank or financial institution. It…

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: credit unions differ from savings institutions

A: More number of saving banks come together are called savings institutions. More number of loan…

Q: How can we calculating effective Interest Rates based on Payment Periods?

A: The effective annual interest rate is the interest rate on investment or return on a savings account…

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: Explain 3 reasons why opening a checking account would benefit you?

A: A checking account refers to a type of bank account that allows you to deposit money and withdraw…