1. How do credit companies or banks earn a profit when they loan money? by selling stock by taxing accounts by charging interest by loaning to everyone 2. According to the video, aside from fees, what is a drawback to having credit? an uncertain earning potential you purchase more things people cannot get credit 3. The fee that is charged for using credit is commonly referred to as ___. assets collateral interest penalties

Question

Shannon Ellison

Mathematics

25 August, 22:14

1. How do credit companies or banks earn a profit when they loan money? by selling stock by taxing accounts by charging interest by loaning to everyone 2. According to the video, aside from fees, what is a drawback to having credit? an uncertain earning potential you purchase more things people cannot get credit 3. The fee that is charged for using credit is commonly referred to as ___. assets collateral interest penalties

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Polo · Answer 1

The credit companies make money by charging interest at the end of the month or next time you do your taxes if you have't paid back what you used with the credit.