List and briefly discuss the different factors to consider when shopping for a loan. How would you determine the total cost of the transaction?
Answer to relevant QuestionsDescribe the two methods used to calculate the finance charges on a single payment loan. As a borrower, which method would you prefer? Explain.When does it make more sense to pay cash for a big-ticket item than to borrow the money to finance the purchase?Find the finance charges on a 6.5 percent, 18-month, single-payment loan when interest is computed using the simple interest method. Find the finance charges on the same loan when interest is computed using the discount ...Assuming that interest is the only finance charge, how much interest would be paid on a $5,000 installment loan to be repaid in 36 monthly installments of $166.10? What is the APR on this loan?What is term life insurance? Describe some common types of term life insurance policies.
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