What is the single most important difference between a personal loan and a mortgage? What interest rates

Fantastic news! We've Found the answer you've been seeking!

Question:

What is the single most important difference between a personal loan and a mortgage? What interest rates does your bank or lending institute charge for each. Why are interest rates generally higher for personal loans?

How much interest would you pay on a new vehicle that costs $35,000 with $5,000 down and at an interest rate of 2.55% over a 60 month period?

What informed conclusion have you come to regarding their use?

Related Book For answer-question

Management Accounting Information for Decision-Making and Strategy Execution

ISBN: 978-0137024971

6th Edition

Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young

See More Books

Posted Date: Apr 07, 2023 03:12 AM

See More Questions

For each problem, show your work steps. A correct answer with no work shown gets half credit (which means you fail the assignment). An incorrect answer with no work receives 0 credit. With time value...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
For each of these utility functions, find the optimal consumption choices z and y for a consumer with budget w = 1, who faces prices pz = 0.05 and Py = 0.3. Are the goods substitutes or complements,...
How is treasury stock reported on the balance sheet? How is the gain or loss on treasury stock that has been sold reported on the financial statements?
Fill in the blank with an appropriate word, phrase, or symbol(s). In a quadratic function of the form f (x) = ax 2 + bx + c, if a is greater than 0, then the graph of f (x) is a parabola that opens...
The catalytic dehydrogenation of 1-butene \[ \mathrm{C}_{4} \mathrm{H}_{8}(\mathrm{~g}) ightarrow \mathrm{C}_{4} \mathrm{H}_{6}(\mathrm{~g})+\mathrm{H}_{2}(\mathrm{~g}) \] is carried out at \(900...
Following are the preclosing trial balances of Marilyn Township Senior Citizens Center as of December 31, 2013. Prepare a statement of financial position and a statement of activities at and for the...
Accustart Ltd. acquired 38% of the common shares of Lecce Ltd. on January 1, 2024, by paying $5.76 million for 144,000 shares. Lecce declared a cash dividend of $0.60 per share in each quarter that...
Preparing an Individuals Tax Form. Caleb Lee graduated from college in 2018 and began work as a systems analyst in July of that year. He is preparing to file his income tax return for 2018, and has...
Miming Corp. had the following cpital structure during 2020 and 2021: Preference share capital, P100 par, 10% cumulative, 100,000 shares Ordinary share capital, P100 par, 400,000 shares P10,000,000...
Consider the regression model: In(OVERALL) = P + B ln(PALATE) + P3 In(APPERANCE) + BIBU+ B, ABV + e. (2) (a) Estimate equation (2) and report the regression results. (b) Interpret the estimated...
Based on the annual data for Malaysian manufacturing firm, the following regression results were obtained: Regression (1) Regression (2) i) In Y, = 1.51-0.36 In K,+ 0.54 In L, (0.457) p-value (0.871)...
7. Express each of the following functions as a matrix product: x Ax, where x is a column vector and A is a square, symmetric matrix. a. f(x, y) = 3x - 4xy +7y b. d (g(xo, yo)) = f(dx, dy) = 9xxdx +...
6. Compute all leading principal minors of the following square symmetric matrices and use them to determine whether the matrix is positive definite, negative definite, or neither. [22-11] a. [4 b. 1...
1. Please describe clearly the application of the Library Information System diagram in a School library. Complete with examples of each subsystem in the those diagrams! 2. Look for some examples of...
How to program in Java: It turns out that cats are a lot smarter than the credit given to them. They have learned to send simple encrypted messages to each other. These messages use a prime number as...
Determine whether the lines are parallel, perpendicular, or neither. 2x + 3y = -12, 2y - 3x = 8
Bennington Home Products sells home products. It buys products for resale from suppliers all over the world. The products are organized into groups. A few examples of these groups are floor care...
Under what circumstances should both quantitative and qualitative performance measures be used to evaluate employee, work group, and divisional performance? Provide examples to support your answer.
Describe specific examples of how firms are using economic value added to evaluate their investments in product lines or divisions, or to evaluate operating strategies.
The Private Securities Litigation Reform Act of 1995 and the U.S. Supreme Court's decision in Central Bank of Denver v. First Interstate Bank of Denver represent major victories in the profession's...
What are heuristics, and why are they of concern to auditors?
Identify and briefly describe the major files that are typically maintained separately from audit working papers.

What is the single most important difference between a personal loan and a mortgage? What interest rates

Question:

Expert Answer:

A IThe most important difference between a personal loan and a mortgage is that a personal loan is a... View the full answer

Management Accounting Information for Decision-Making and Strategy Execution

Students also viewed these finance questions