Cards in this guide (27)
What is principal
the amount borrowed from a lender
What is an amortization schedule
a display of the number of payments and the amount of interest
that will be paid.
If you are interested in what an amortization schedule is, there
are many information websites to help you. However, to answer you
question, it is a calculator used to calculate loan payments and
how much goes towards the interest and how much goes towards the
principal.
What are the steps necessary to reconcile a bank statement
ending balance + outstanding deposits - outstanding check =
balance
Which of these is the best description of delinquency
It is the condition whereby the scheduled repayment of a loan
has not been received by a specified due date.
How long will credit inquiries remain on your credit report
What is done with the finance charge assessed by a credit card company
Which of these is a lien on the property that secures the promise to repay a loan
In which areas do people with sensitivity to mold pollens and other pollutants have difficulty functioning
areas with high allergen levels
Calculate the simple interest you would receive in five years on a savings account that earns 7.5 percent annual interest What if your beginning balance is 1236.59
What is money put down by a potential buyer to show that he or she is serious about purchasing the home
If Patty is taking out a simple interest loan to buy her new 10689 car How much would she pay in interest it the rate is 4.5 percent and she pays the loan off in 4 years
She will pay $1,924.02 in interest.
What is a advantage of a shorter-term such as 15 years loan
Which of these in not one of the four elements of a monthly mortgage payment
When is mortgage insurance typically required
when the down payment is under 20% of the homes purchase price
-kaya :)
Which equation represents how the interest on a loan is calculated
Interest=Principle times rate times time
Which of these would not be included on a loan application
your educational background
Which type of mortgage is designed so that payments remain the same throughout the life of the loan
Which is not usually required by the lender when you apply for a home mortgage
Would not result from defaulting on a loan
What is a type of fee that a credit card company might charge
If nancy pays her bank 465.23 a month for 48 months how much will she have paid on her installment loan-
If Nancy pays her bank 465.23 a month for 48 months, the amount
paid on every installment would be 116.3075/n where n is the
amount.
Under the equal credit opportunity act what do you not have the right to do
Refuse to pay credit card payment.
What e is not likely to be found on a lease agreement
The cost of insurance. A+
What defines the term amortization
the process of decreasing the amount of principal on a loan over
a scheduled period of time
How much equity does Lisa have in her house if Lisa's house was appraised at 115000 and she still owes 42000 on her mortgage loan
How is a finance charge calculated
multiply the unpaid balance by the monthly interest-rate
Which of the following is the best description of a consumer good
It is something tangible that can be touched or carried
