How would you address Brad’s reluctance to pay off his credit card balance? Show him what he could earn in five years if he paid it off and invested the interest saved at 6%.
Answer to relevant QuestionsWould your advice change if Brad were: a. 45 years old? b. 60 years old? How are payments calculated under the add- on interest method? Who extends student loans? What are the characteristics of student loans? Explain how collateral works. Do all loans have collateral? What is the relationship between collateral and interest rates? After making the down payment, she will finance $ 15,500. Sharon is offered three maturities. On a four- year loan, Sharon will pay $ 371.17 per month. On a five- year loan, Sharon’s monthly payments will be $ 306.99. On a ...
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