Explain how collateral works. Do all loans have collateral? What is the relationship between collateral and interest rates?
Answer to relevant QuestionsExplain the difference between a 10% rate charged on a payday loan and a 10% rate charged by a bank on a personal loan. Beth has just borrowed $ 5,000 on a four- year loan at 8% simple interest. Complete the amortization table below for the first five months of the loan. Refer to question 8. What will Mary and Marty’s credit limit be if the bank uses the market value of equity to determine their credit limit and will loan them 70% of the equity? In Question 8 Mary and Marty are interested ...What is an amortization table? What does each mortgage payment represent? Explain how stronger economic conditions affect the values of homes.
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