When consumers build up a lot of debt, they may choose to apply for a bill consolidation loan that they can use to pay off their other bills

Answers

Answer 1

Answer: That statement is true

In a Bill consolidation loan , the consumer could consolidate multiple credit accounts under one new loan with a single payment. This will make the payment process a lot more efficient than having several different types of credit account

Related Questions

Your _______ should furnish enough money to live on, in an emergency, for six months. A. savings B. interest C. IRA D. investments
ACME Incorporated has a $3.1 million dollar, 9% loan, annual interest payments, with BMO maturing on December 31, 2025. Due to decrease revenues caused by the pandemic, the company is experiencing solvency and cash flow issues that have negatively impacted the its ability to make its interest and principal payments. ACME's year end is December 31, and the company reports under IFRS. On January 01, 2021, the bank agreed to reduce the interest rate to 7.5% and extend the maturity date to 2028 (The current market rate is 8%). Required: Round interim calculations to four decimals and final answers to the nearest dollar. 1. Conclude on the appropriate accounting treatment and show calculations to support your conclusion. (5 marks) 2. Prepare the required entry on January 01, 2021 (if any). (2 marks) 3. Prepare the required entry on December 31, 2021 (if any). (3marks)
A family resources are unlimited? True or false
In the current year, Chastain takes a trip from Charleston, South Carolina to France primarily for business purposes. He is away from home from March 5 through March 16. He spends four days vacationing and eight days (including two travel days) conducting business. His airfare is $2,900, his meals amount to $180 per day, and lodging and incidental expenses are $420 per day. He is self-employed. In your computations, round any division to two decimal places and use rounded amounts in subsequent calculations. Chastain's deductible expenses are:Plane and taxi expenses: $ _________.Lodging and incidental expenses: $ ___________.Meals: $ _________.
How does starting a job change a person's lifestyle

Do you need an LLC if you rap? and What is an LLC?

Answers

No you do not need an LLC when you rap or if your a rapper. I have a friend who raps and all you need is a Manager and a plan basically.

What is an LLC? an LLC is a Limited Liability Company. This means a Corporate structure in which every member of the company will and cannot be held personally liable for the company's debts or liabilities. Also Limited Liability Companies that's the LLC part.

I rally hope that this helps you out a lot.

Which of the following would be considered an economic event that requires an accounting transaction? A : corporate decisions about new product lines B : the hiring of a new employee C : creation of prototypes to accompany a bid for work D : the purchase of new computers

Answers

A.) corporate decisions about new product lines
hope this helped :)

A mortgage company charges borrowers a 1.5% loan origination fee. A house is purchased for $210,000, with a $50,000 down payment. The buyer applies for a mortgage to cover the balance. What will the mortgage company charge as a fee if the asking price of the house was $235,000? a. $2,400 b. $3,150 c. $3,525 d. $3,750

Answers

Answer:

C. 3525

Explanation:

To calculate the mortgage company's fee, you first need to determine the mortgage amount, and then apply the 1.5% loan origination fee.

The purchase price of the house is $235,000.

The buyer makes a $50,000 down payment.

To find the mortgage amount:

Mortgage Amount = Purchase Price - Down Payment

Mortgage Amount = $235,000 - $50,000

Mortgage Amount = $185,000

Now, you can calculate the loan origination fee:

Loan Origination Fee = (Loan Amount) x (Loan Origination Fee Rate)

Loan Origination Fee = $185,000 x (1.5/100)

Loan Origination Fee = $185,000 x 0.015

Loan Origination Fee = $2,775

So, the mortgage company will charge a loan origination fee of $2,775.

The closest answer choice to this amount is:

c. $3,525

However, this does not match the calculated amount of $2,775. It's possible that there is an error in the answer choices provided. The correct answer based on the calculation should be $2,775, not one of the answer choices provided.

_____ managers assume that employees dislike work, that motivation is best accomplished by threats and coercion, and that people prefer to be directed rather than use their own initiative.a. Theory A
b. Theory Z
c. Theory Y
d. Theory X

Answers

The right answer for the question that is being asked and shown above is that: "c. Theory Y" This managers assume that employees dislike work, that motivation is best accomplished by threats and coercion, and that people prefer to be directed rather than use their own initiative. This is called the c. Theory Y

Final answer:

The described management style is Theory X, associated with Douglas McGregor. It assumes employees inherently dislike work and require coercion or threats to achieve goals, promoting an autocratic style. This contrasts with Theory Y and Z.

Explanation:

The perspective in the question describes Theory X management, which is attributed to Douglas McGregor. Theory X assumes that employees inherently dislike work and will avoid it if they can. Therefore, they must be coerced, controlled, or threatened with punishment to achieve goals. This theory promotes a more autocratic style of management, contrasting with Theory Y, which assumes employees are generally self-motivated, seek responsibility, and apply creativity to their jobs.

To put it in context, Theory Z, an alternate management style introduced by William Ouchi, integrates a large degree of worker involvement and is not mentioned in the question. Theory A does not exist in widely accepted management theories.

Learn more about Theory X here:

brainly.com/question/33449164

#SPJ6

A person studying economics can make better choices about purchases if that person understands

Answers

If that person understand consequences

In Economics, Consequences refer to how one economic decision will affect other circumstances

For example if that person could foreseen how purchasing a specific machine could increase his overall revenue in the next 5 years, so he gain more than what he loss

Answer:

A person studying economics can make better choices about purchases if that person understands consequences and tradeoffs.

The _____ adds up the market prices of final goods and services to calculate Gross Domestic Product (GDP).

Answers

The Expenditure Approach adds up the market prices of final goods and services to calculate Gross Domestic Product (GDP)

The Expenditure Approach includes consumption expenditures, investments expenditures, government expenditures and net exports.

The Expenditure Approach is one of the 3 ways to measure economic production. The other 2 are The Production Approach and The Income Approach.

Answer: its actually product approach.

Explanation:The product approach adds up the final goods and services, using their market prices.

Other Questions

WILL GIVE BRAINLIEST ANSWER!!!! plus 100 pointsBecause of the tender meat required, which of these cooking methods are the most expensive?A. Braising and fryingB. Grilling and sautéingC. Steaming and broilingD. Baking and roastingIncorrect answer: CReference: Section 1.2

Which element of a print ad communicates the spirit of the brand?a. headline b. movement c. tagline d. body copy

What tool in Word can you use to search your entire document for spelling and grammar errors?Grammar Fixer Spelling Dictionary Spelling Help Spelling and Grammar Check

A company sells a car to a consumer and helps the consumer set up a loan with regular set payments. What type of credit is this?