ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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interest
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budget
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debt
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credit
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Detailed explanation-1: -For example, you might be asked for a loan if they: Need money quickly to cover an emergency expense. Lack sufficient credit history to qualify for a personal loan or line of credit. Don’t meet the income requirements for a traditional loan due to illness or job loss.
Detailed explanation-2: -401(k) loan Retirement loans allow you to borrow money from yourself. And unlike a withdrawal from your 401(k), you don’t have to pay taxes and penalties on a loan. They also offer some of the lowest rates available, even if your credit score is low.
Detailed explanation-3: -The classic examples of an internal source of finance include retained profits, sale of operating assets, issue of capital, and leading collection of debt.
Detailed explanation-4: -Purchase real estate with a mortgage. Real estate can be a great wealth-building strategy for high net worth individuals. Use commercial loans for your business. Leverage your human capital: get an education with student loans. 02-May-2022