THE ROARING 20S 1920 1929
AMERICAN ECONOMY IN THE 1920S
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
impact of the automobile
|
|
|
impact of electrical conveniences
|
|
|
impact of modern advertising
|
|
|
impact of installment plan
|
Detailed explanation-1: -Installment loans allow individuals to borrow a predetermined amount of money, disbursed in a lump sum, that can be repaid over time. Typically, these loans come with a fixed interest rate and require regular equal monthly payments.
Detailed explanation-2: -The thumb rule under this mantra is that the total EMI that you pay for all your loans should not exceed 40% of your income. In short if your income is 1 lakh monthly, your total EMI or equated monthly instalment, which is the method most people opt for repaying loans or any debts, should not be more than Rs. 40, 000.
Detailed explanation-3: -Instalment payments refer to a customer paying a bill in small portions throughout a fixed period of time. Start invoicing for free. Instalment payments are a payment plan arranged between the buyer and the seller. It’s usually clearly stated in the payment terms in a contract or on an invoice.