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Author Question: Some lenders require the borrower to pledge property as security for a loan. This property is ... (Read 88 times)

krzymel

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on: Jun 24, 2018
Some lenders require the borrower to pledge property as security for a loan. This property is referred to as
 A) an installment.
  B) equity.
  C) a down payment.
  D) collateral.

Question 2

Which of the following reasons best describes why a seller adds a finance charge to the cash price when calculating the installment price?
 A) To penalize the customer for not paying cash.
  B) To cover the extra cost of doing business on the installment plan.
  C) To offset the interest paid to the customer.
  D) To cover the higher prices charged by the seller's suppliers for dealing with installment plans.


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ttt030911

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Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

B


krzymel

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  • Posts: 548
Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

amynguyen1221

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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