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Q: The hillcrest credit union charged more for a 6-year car loan then for a 3-year car loan l what accounts for the difference?
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What is the difference between credit sales and accounts payable?

Credit sales referes to sales and accounts payable referes to bank


What is the difference for account receivable and accounts payable?

When company make sales in credit it creates the accounts receivable while when company purchases on credit it creates the accounts payable so accounts receivable is current asset while accounts payable is current liability.


What is the difference between Accounts Payable and Accounts Receivable?

Accounts payable are amounts a company owes because it purchased goods or services on credit from a supplier or vendor. Accounts receivable are amounts a company has a right to collect because it sold goods or services on credit to a customer. Accounts payable are liabilities. Accounts receivable are assets.


What is the term used to describe the dollar amount of periodic interest charged by financial institutions on credit accounts?

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Policy rate is the rate of interest that banks charge. It can be a rate charged from credit cards, insurance policies, savings accounts, checking accounts, or other similar things.


What can you do if your credit report shows active accounts that you thought were charged off?

Why would you want to do anything? Having active accounts, instead of charged off accounts is a positive reflection of your past credit history and is probably causing you to have a credit score. This is a good thing, certainly much better than having charge offs, even paid charge offs showing. Your credit report is a history of how you have managed debt over the past 7 to 10 years. Accounts that were active during that period of time, whether open, closed, active or delinquent, are SUPPOSED to show on your credit report. Having them removed would certainly decrease your current credit score.


What are the 3 categories of consumer credit?

The three types of accounts on a consumer credit report are installment accounts, revolving credit and open accounts. Credit cards are considered revolving accounts.


What is the difference between credit memo and debit memo?

a credit memo is getting credit for something that should have not been charged. a demo memo is billing someone incorrectly.


How can you get your name off the credit report if your ex let the joint credit card get charged off and the truck was repossessed?

The divorce is of no consequence. If your spouse and their ex opened joint accounts while they were married, they are jointly liable for those accounts and both credit reports will reflect the history. A divorce never supercedes any other contract. You mentioned that the accounts were "both in other spouses name". If that were true, the accounts would not be on your spouse's credit report in the first place.


Is it true when using the allowance method of accounting for uncollectible accounts the entry to record the bad debt's expense's is a debit to Bad Debts Expense and a credit to Account's Receivable.?

No while using allowance method, bad debts are charged to allowance for bad debts account rather charging the accounts receivable because accounts receivable was already charged with allowance when it was created.


When I look at my credit card statement online why does the available credit show less than the actual credit limit?

The difference between the two should be what has been charged to the card.


In a credit report what do individual ratings of 19 09 or R9 mean?

These are charged off accounts: Installment Loan, Open loan that is paid in full each month, and Revolving Line of Credit.