Notice: Payments for answers will end 4/10/2017. Click for more info.
You have new items in your feed. Click to view.
Question and answer
Q: Provide an example of how you can use the power of compounding interest to pay for a future expense.
A: Interest is the cost associated with borrowing or lending money. It can be considered a fee on borrowed assets. [ When lending money, banks apply an interest rate to the loan so that the amount repaid is greater than what was originally lent, creating a profit. A loan will have an annual percentage rate (APR) to explain the interest cost of this loan in one year. Generally, it is the interest
rate of a loan that determines the total cost to the consumer. A high interest rate loan will cost more to repay than a low interest rate loan, all things being equal. Therefore it behooves borrowers to search for a loan with a low rate in order to reduce the costs of repayment. Here is an example to compare. ]
Expert answered|selymi|Points 10056|
Question
Asked 2/7/2013 8:45:11 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
26,827,449 questions answered
Popular Conversations
What is the double jeopardy principle
Weegy: Principle is a law or rule that has to be, or usually is to be followed, or can be desirably followed, or is an ...
4/19/2018 6:55:12 PM| 3 Answers
How many amino acids are there? A. Three B. Seven C. ...
Weegy: Amino acids are organic compounds that combine to form proteins.
4/20/2018 7:55:39 AM| 3 Answers
Solve 7(x - 3) = -70.
Weegy: Step 1. 5x-10-3x+12=10 Step 2. 2x+2=10 Step 3. 2x=8 ...
4/20/2018 11:45:54 AM| 3 Answers
Between what two numbers would 9 be located on a number line?
Weegy: The number 9 would be located between 8 and 10 on a number line. User: Estimate the sum of 202 and 57.
4/26/2018 5:50:25 PM| 2 Answers
The technique of using words with the same vowel sound is ...
Weegy: User: The technique of using words with the same vowel sound is A. rhyme. B. assonance. ...
4/24/2018 9:16:03 AM| 2 Answers
Binary star
Weegy: Binary means composed of two pieces or two parts. User: Constellations
4/24/2018 12:12:08 PM| 2 Answers
S
P
L
P
P
P
P
Points 246 [Total 672] Ratings 0 Comments 246 Invitations 0 Offline
S
R
L
R
Points 234 [Total 372] Ratings 0 Comments 34 Invitations 20 Offline
S
1
L
L
P
R
P
L
P
P
R
P
R
P
R
Points 233 [Total 13036] Ratings 0 Comments 223 Invitations 1 Offline
S
L
Points 97 [Total 97] Ratings 1 Comments 57 Invitations 3 Offline
S
Points 71 [Total 71] Ratings 0 Comments 21 Invitations 5 Offline
S
Points 50 [Total 50] Ratings 0 Comments 0 Invitations 5 Offline
S
P
L
Points 35 [Total 126] Ratings 0 Comments 35 Invitations 0 Offline
S
Points 30 [Total 35] Ratings 3 Comments 0 Invitations 0 Offline
S
P
Points 25 [Total 69] Ratings 0 Comments 25 Invitations 0 Offline
S
Points 20 [Total 20] Ratings 1 Comments 0 Invitations 1 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.