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Normally, with good intentions, they buy things that earn them money, such as a college degree, or workplace tools, things to start a bussiness, etc.
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∙ 15y ago
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What do people borrow money for?
People borrow money to buys houses, to buy cars, to start businesses, to gamble in Las Vegas, and for many other reasons, some good and some not so good.
The best time for people to borrow money is when?
this is from social studies.the best time for people to borrow money is when
From where do people borrow money?
the bank
People you borrow money from are your?
Creditors
Money owed when you buy something on credit or borrow is?
A loan.
When you buy U.S. government savings bond your doing so under the power given to the congress to?
The power that is given to congress is the ability to borrow money.
Why do people go to the bank to borrow money?
There could be thousands of reasons people borrow money. To buy a home, to take a vacation, there are too many reasons why people would borrow money to list here. Hopefully you got the jest of this answer. There are numerous reasons for the borrowing of money but common ones are; home loans, purchasing of insurance, purchasing of business companies, etc. People borrow money in general because they either can't afford something or they have no money in cash, so they borrow from the bank, the disadvantage however is that you have to pay it back, and what people don't realize is that the bank adds interest to the overall payment if you pay it over a period of time which is not in the month requested by the bank
What do people pay to borrow money?
The loan is called the principal. People pay interest to borrow money, but payment is interest plus money toward the principal.
How much money do people borrow?
Alot.
What is a down payment on a house?
Most people borrow money from a bank when they want to buy a house, but they usually do not borrow 100% of the cost of the house. They usually do have some money to apply toward the cost of the house, and that amount is called a down payment. So to buy a house costing $200,000 a person might make a down payment of $50,000 and then borrow the remaining $150,000.
Why do you borrow money?
There could be thousands of reasons people borrow money. To buy a car, a home, to take a vacation, there are too many reasons why people borrow money to list here. Hopefully you got the jest of this answer. There a numerous reasons for the borrowing of money but common ones are; home loans, purchasing of cars, insurance, purchssing of business companies etc. People borrow money in generall because they either cant afford something or they have no money in cash, so they borrow from the bank, the disadvantage however is that you have to pay it back, and what people don't realise is that the bank adds interest to the overall payment if you pay it over a period of time which is not in the month requested by the bank.
Which is of American farmers in the 1880s?
They had to borrow money to buy seed, fertilizer, and equipment.
