Ask Question
BusinessBusiness
3 April, 01:25

The method most commonly used by financial institutions to determine finance charges on consumer loans is the

+5
Answers (1)
  1. 3 April, 01:45
    0
    Average daily balance method a common method to calculate finance charges.

    Explanation:

    One of the most common ways through which the financial institutions for example the credit card companies calculate the financial charges that are to be paid by their customers and clients is the average daily balance method of the credit ...

    If this is the method used by your financial company also then you can reduce the financial charges that you have to pay by paying off the financial balance earlier than the billing cycle.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The method most commonly used by financial institutions to determine finance charges on consumer loans is the ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Marcus is considering which college major to choose. In taking a rational approach, Marcus should consider Group of answer choices minimizing the length of time it will take to complete the degree.
Answers (1)
Which of the following steps in a tactical decision-making model follows the step that involves the comparison of the relevant costs and benefits of each alternative? a. Selecting the alternative with the greatest overall benefit b.
Answers (1)
Which of the following is NOT one of the three strategic approaches to competitive advantage? A. responseB. innovationC. differentiationD. cost leadership
Answers (1)
Bergstrom accepted the return of merchandise by a customer. The merchandise had been sold on account, and payment had not been received on the date of return. The returned goods retailed for $400, but cost Bergstrom only $300.
Answers (1)
Based on guidelines established by the accounting manager, Jaime, the accounts payable clerk, makes payments to vendors in order to maximize discounts. What type of decision does this represent?
Answers (1)
New Questions in Business
In the united states today, what gives money its value?
Answers (2)
An employer has the right to monitor workers electronic communications if
Answers (1)
What is a kind of federal payroll tax A) Medicare tax B) sales tax C) property tax D) progressive tax
Answers (2)
The Rye Corporation has provided the following information: Total sales were $1,240,000. Beginning net accounts receivable was $49,000. Ending net accounts receivable was $63,000. Sales returns and allowances totaled $108,000.
Answers (1)
It's important to know whether you've paraphrased and cited source material for your paper correctly so you avoid plagiarism. Read the original quote below and the two attempts to paraphrase it.
Answers (1)
Home » Business » The method most commonly used by financial institutions to determine finance charges on consumer loans is the
Sign Up Forgot Password?