ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -and financial advisors are under a fiduciary duty to put the client first-a relationship that gets muddied whether the loan is in writing or not. The Financial Industry Regulatory Authority (FINRA) has a rule in place prohibiting a broker from borrowing or lending money to customers in most instances.
Detailed explanation-2: -The amount of money borrowed from the bank is called the loan, and the extra amount of money paid back to the bank other than the loan is called the interest.
Detailed explanation-3: -’Lend’ means to give something to someone to be used for a period of time and then returned. ‘Borrow’ means to take and use something that belongs to someone else for a period of time and then return it.
Detailed explanation-4: -Banks. Taking out a personal loan from a bank can seem like an attractive option. Credit unions. A personal loan from a credit union might be a better option than a personal loan from a bank. Online lenders. Cash advances. Cash advance from credit card. Buy-now, pay-later apps. 401(k) retirement account. Family and friends. More items •29-Apr-2022