Consider the following places where a loan may be obtained: banks, savings and loans, credit unions, and
Question:
Consider the following places where a loan may be obtained: banks, savings and loans, credit unions, and pawnshops. Write a report that includes the following information:
(a) Describe the ownership of each.
(b) Historically, what need is each fulfilling?
(c) What are the advantages and disadvantages of obtaining a loan from each of those places listed?
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Solution a Bank The bank is the owner of the property so it is a public entity The advantage is that one can get hisher property back in a short period of time The disadvantage is that interest you pa...View the full answer
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Related Book For
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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