WebDec 12, 2024 · Collateral is an asset that a borrower offers to a lender as a promise that the payment of the loan will be made. If the borrower doesn't make the payments, the lender can seize the asset and then, sell it to get the money back. The collateral can help the borrower to get the loan approved and it can also allow to get a lower interest rate. WebOct 14, 2024 · You have decided to refinance your mortgage. You plan to borrow whatever is outstanding on your current mortgage. The current monthly payment is $ 2 comma 356 and you have made every payment on time. The original term of the mortgage was 30 years, and the mortgage is exactly four years and eight months old. You have just made …
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WebJul 5, 2024 · It generated interest on its notes receivable which will be collected in a later accounting period.. What are debit interest receivables? The entry is a debit to the cash account and a credit to the interest receivable account when the actual interest payment is received, which eliminates the balance in the interest receivable account.; What is the … WebHelping others always makes us fell good and Brainly.in serves the same purpose. It brings people from different parts of India, different cultures and societies together. Being a moderator, is a great thing itself! You get to … bright color clipart
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WebJul 23, 2024 · answered • expert verified. You have a credit card that charges an interest rate of 16.15% compounded monthly. The table below shows your activity for the month … WebMay 26, 2024 · answered • expert verified Anyone here earn money from brainly and how please guide me See answer ... I assumed you want to know what Brainly platformed. Explanation: It is interesting to note that the Brainly platform is designed specifically for students to learn from their peers mostly free of charge, and it allows them to find … WebDec 17, 2024 · = 25,000 × 4% × 1 = 25,000 × 0.04 × 1 = $1,000 Amount to be paid = Amount of interest + Cost of car = 1,000 + 25,000 = $26,000 Therefore, the amount … bright color chinos