ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Savings
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Profit
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Budgeting
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Credit
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Detailed explanation-1: -Buy now, pay later (BNPL) is a type of short-term financing that allows consumers to make purchases and pay for them over time, usually with no interest. Using BNPL financing can be convenient, but there are also some potential traps to consider.
Detailed explanation-2: -Buy now, pay later (BNPL) is a financing method that more Americans are using to make discretionary purchases, especially online. Affirm purports to offer a new spin on consumer financing: helping people afford to buy the things they want without getting into unmanageable debt.
Detailed explanation-3: -Hire purchase is an arrangement for buying expensive consumer goods, where the buyer makes an initial down payment and pays the balance plus interest in installments. The term hire purchase is commonly used in the United Kingdom and it’s more commonly known as an installment plan in the United States.
Detailed explanation-4: -There are three main classification found in Term Loans: short-term term loan, intermediate term loan, and long-term term loan.
Detailed explanation-5: -Amortization: Loan payments by equal periodic amounts calculated to pay off the debt at the end of a fixed period, including accrued interest on the outstanding balance.