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Why is the annual interest rate more important to a borrower who carries a balance than to a borrower who pays off the balance monthly?
The annual interest rate is crucial for a borrower who carries a balance because it determines the cost of borrowing over time, influencing how much interest accrues on the outstanding amount. For those who pay off their balance monthly, the interest rate has a minimal impact since they avoid accruing interest altogether by settling their debt in full. Therefore, borrowers with balances face higher costs due to interest charges, making the rate a key factor in their overall financial burden.
What else can I help you with?
What usually carries the highest interest rates?
saving account
WHAT IS DEFERRED INTEREST RE Sears?
Deferred interest is a financing option often used in retail credit agreements, such as those offered by Sears. It allows customers to make purchases without immediate interest charges, provided they pay off the balance within a specified promotional period. If the balance isn't paid in full by the deadline, interest is retroactively applied to the original purchase date, potentially resulting in significant costs. This type of financing can be appealing but carries risks if not managed properly.
Why does an unsecured loan have a higher interest rate than a secured loan?
An unsecured loan has a higher interest rate than a secured loan primarily because it carries more risk for the lender. Since unsecured loans are not backed by collateral, lenders face a greater chance of losing their investment if the borrower defaults. To compensate for this increased risk, lenders charge higher interest rates on unsecured loans compared to secured loans, which are backed by assets that can be seized in case of default.
Nick has a revolving department store credit card account with?
A revolving department store credit card means that the interest accumulates monthly and the balance carries over. Most credit cards that are issued by a department store have this type of account.
What are the fees to use Bill Me Later?
This is a credit service like a credit card. This carries a 19.99% interest on purchases. There is no annual fee to use it, but there is a transaction fee of 2% of the total balance. Then, of course, there are late fees starting at $5 and going up to $35.
What electronically carries the balance of the employee's net pay?
payroll
What usually carries the highest interest rates?
saving account
Is retained earnings a normal debit or credit balance?
The retained earnings account usually carries a credit balance.
Nick has a revolving department store credit card account with?
A revolving department store credit card means that the interest accumulates monthly and the balance carries over. Most credit cards that are issued by a department store have this type of account.
Why a person carries a long stick with him while walking on the rope?
The pole aids balance.
What are the fees to use Bill Me Later?
This is a credit service like a credit card. This carries a 19.99% interest on purchases. There is no annual fee to use it, but there is a transaction fee of 2% of the total balance. Then, of course, there are late fees starting at $5 and going up to $35.
Does the balance on Michigan EBT cards get removed if you dont use them every month?
no it carries over
Are raw materials on the balance sheet?
yes, it is part of your assets. Balance sheet carries assets on the left side and liabilities and owners equity on the right side.
Why is it important that RNA carries DNA instructions out of nucleus?
DNA carries the genetic information of a cell. WHen this information is needed, the genes are transferred to RNA So, it is important.
Which provides greater protection for the buyer a bargain and sale deed or a quit claim deed?
Neither type of deed carries any warrantees. Both simply convey any interest of the grantor in the property if the grantor has any interest. The buyer must have a comprehensive title examination performed by a professional to determine the status of the title and what interest will be conveyed by the deed.Neither type of deed carries any warrantees. Both simply convey any interest of the grantor in the property if the grantor has any interest. The buyer must have a comprehensive title examination performed by a professional to determine the status of the title and what interest will be conveyed by the deed.Neither type of deed carries any warrantees. Both simply convey any interest of the grantor in the property if the grantor has any interest. The buyer must have a comprehensive title examination performed by a professional to determine the status of the title and what interest will be conveyed by the deed.Neither type of deed carries any warrantees. Both simply convey any interest of the grantor in the property if the grantor has any interest. The buyer must have a comprehensive title examination performed by a professional to determine the status of the title and what interest will be conveyed by the deed.
Why is important for airline carries to review routing portfolio?
because
DNA is important to living plants because?
carries genetic information
