THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Having too many of your friend’s clothes in your closet
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borrowing more money from banks than you can afford to pay back
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Sharing your things with your neighbors in times of need
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buying too much stock in the stock market and not being able to pay for it
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Detailed explanation-1: -A sum of money borrowed from banks or other financial institutions.
Detailed explanation-2: -Installment Loan An installment loan is a loan with a fixed repayment period listed in the loan agreement. For example, let’s say you take out a personal loan to refinance high-interest debt. Once you receive the lump sum payment, the lender will require you to make monthly payments or installments to repay the loan.
Detailed explanation-3: -the act of taking money from a bank and paying it back over a period of time: The company will no longer be so dependent on bank borrowing to finance expansion.
Detailed explanation-4: -The concept of a loan is pretty straightforward: first you borrow money, and then you repay it. But the amount that you must repay is more than the amount you borrow. This is due to interest and fees, which is what a lender charges you for the use of its money. It is also referred to as a finance charge.