Some states and localities are drafting legislation to reduce the number of payday loans that a lender can provide within a year (for example, limiting them to no more than 6 loans in a year to an individual). Analyzing the data above, why might lenders be so opposed to such limits?
Answers
sixteen states and the district of columbia prohibit extremely high cost payday lending. states protect their citizens from usurious payday lending by prohibiting the product or by setting rate caps or usury limits. georgia prohibits payday loans under racketeering laws.
When a borrower takes out a payday loan, the term "payday" refers to the scenario in which they send a postdated cheque to the lender for their payday wage and the lender gives them some of that payday sum in cash right away.
What is the importance of loaning?Loans are given out for a variety of purposes, such as large purchases, investments, renovations, debt consolidation, and company endeavors. Additionally, loans assist already-established businesses in growing. Through lending to new enterprises, loans promote economic growth by expanding the total amount of money in circulation.
With a payday loan, a lender will grant you high-interest credit based on your income. Payday loans are a sort of short-term borrowing. A percentage of your next paycheck serves as its principal in most cases. Payday loans provide high-interest rates for quick, short-term credit. They may also be referred to as cheque advance loans or cash advance loans.
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Related Questions
How can I tutor at age 11?
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Not Answered Question Workspace A family on a trip budgets $800 for meals and hotel accommodations. Suppose the price of a meal is $40. In addition, suppose the family could afford a total of eight nights in a hotel if they don't buy any meals. How many meals could the family afford if they gave up two nights in the hotel
Answers
Based on the amount budgeted and the costs of meals and the hotel, if the family gave up two nights, they could afford 4 meals.
The family can afford 8 nights at the hotel if they gave up meals. This means that the cost of a night at the hotel is:
= Total cost / Nights at hotel
= 800 / 8
= $100 per night
If the family gave up two nights, they would have $200 to spend on meals which means they will afford:
= 200 / 40 per meal
= 5 meals
In conclusion, the family would afford 5 meals.
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Which information is found on a credit report?
CO
FE
O grade point average
O list of schools attended
o names of family members
o credit account history
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Suppose that Lebanon has placed tariffs on its imports and exports. The import tariff is 13%, and the export tariff is 8%. If Lebanon has a balance of trade of (equivalent US dollars) $5,510,000 and received tariff revenue of $4,019,200, what are its imports and exports worth? a. $30,916,923 in imports, $50,240,000 in exports b. $17,040,000 in imports, $22,550,000 in exports c. $6,226,300 in imports, $5,950,800 in exports d. $4,793,700 in imports, $5,069,200 in exports.
Answers
The worth of imports and exports in reference to the balance of trades is $17,040,000 for imports and $22,550,000 for exports.
Computation of total amount of imports and exportsGiven,
[tex]I[/tex] =Import tariff 13%
[tex]E[/tex]=Export tariff 8%
[tex]TB[/tex] =Trade balance of $5,510,000
[tex]TR[/tex] =Tariff revenue received of $4,019,200
First, two equations will be formed:
1. Trade Balance:
[tex]TB=E-I[/tex]
2. Tariff revenue:
[tex]TR=E+I[/tex]
The two equations with the given values are as follows:
1. [tex]E-I=\$5,510,000[/tex]
2. [tex]0.08E+0.13I=\$4,019,200[/tex]
Using both the equations the value [tex]E, I[/tex] are computed as follows:
Equation 1. can be written as:
[tex]E=\$5,510,000+I[/tex]
Putting the changed Equation 1. in equation 2.
[tex]\begin{aligned}0.08(\$5,510,000+I)+0.13I&=\$4,019,200\\\$440,800+0.08I+0.13I&=\$4,019,200\\0.21I&=\$3,578,400\\I&=\$17,040,000\end{aligned}[/tex]
Now, putting the value of [tex]I[/tex] in equation 1:
[tex]\begin{aligned}E-\$17,040,000&=\$5,510,000\\E&=\$5,510,000+\$17,040,000\\E&=\$22,550,000\end{aligned}[/tex]
Therefore, option b. $17,040,000 in imports, $22,550,000 in exports is correct.
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Answer:
(B) $17,040,000 in imports, $22,550,000 in exports
Explanation:
Miguel has been working at his job for 3 years and already filled out a W-4 when he was first hired. This year, he just got married and is planning on filing his taxes jointly with his spouse. What should he do?
Keep the same information on his W-4
Wait until next April to fill out a new W-4
Request to fill out a new W-4 from his employer
Email his HR department that they need to update his W-4
Answers
Based on the information regarding the W-4, the thing that should be done next will be C. Request to fill out a new W-4 from his employer.
The W-4 form simply tells the employer, the filing status of the employee, amount of credits, multiple jobs adjustment, amount of other income, deductions, etc that are needed to compute the federal income tax.
Since Miguel was single when he started working with the company but was now married, he should request to fill out a new W-4 from his employer.
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Considering the situation described above, what Miguel should do is to "Request to fill out a new W-4 from his employer."
What is W-4 Form?The W-4 form is the form that is filled by the employee and submitted to the employer to show the filing status, numerous jobs modifications, amount of credits, other income, deductions, and any other amount to withhold from each paycheck to determine the amount of federal income tax to remove and withhold from the employee's salary.
Therefore given that Miguel just got married and is planning on filing his taxes jointly with his spouse, despite having already filled out a W-4 when he was first hired, then action expected from him is to "request to fill out a new W-4., from his employer."
Hence, in this case, it is concluded that the correct answer is option C.
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Damages that involve only a very small monetary award are called liquidated damages. a. True b. False
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Answer:
b. false.
Explanation:
because it is presented in certain legal contracts as an estimate of otherwise intangible or hard-to-define losses to one of the parties. It is a provision that allows for the payment of a specified sum should one of the parties be in breach of contract.
It costs a petroleum refinery $0. 39 to refine one gallon of gasoline, and $0. 39 to refine one gallon of natural gas. The refinery can sell gasoline for $2. 11 per gallon, and can sell natural gas for $1. 60 per gallon. Due to the refining process, the refinery must produce and sell twice as much natural gas as it does gasoline. If the refinery’s monthly overhead costs, not including production costs, are $180,000, how many gallons of natural gas will the refinery have sold when it breaks even each month? Round to the nearest whole gallon, if necessary. A. 86,957 b. 141,732 c. 148,760 d. 217,392.
Answers
The gallons of natural gas that the petroleum refinery must sell to break even each month is A. 86,957.
Data and Calculations:
Variable cost of refining gasoline per gallon = $0.39
Selling price of gasoline per gallon = $2.11
Contribution margin per gallon of gasoline = $1.72 ($2.11 - $0.39)
Variable cost of refining natural gas per gallon = $0.39
Selling price of natural gas per gallon = $1.60
Contribution margin per gallon of natural gas = $1.21 ($1.60 - $0.39)
Contribution margin per two gallons of natural gas = $2.42 since twice of natural gas must be produced.
Fixed costs = $180,000
Break-even point in units for gasoline = Fixed costs/Contribution margin per unit
= 43,478.26 ($180,000/$4.14)
Break-even point in units for natural gas = 86,957 (43,478.26 x 2) gallons.
At the break-even point, the Petroleum Refinery will not make any profit or loss for both gasoline and natural gas.
Thus, the gallons of natural gas that the petroleum refinery must sell to break even each month is A. 86,957.
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The requirement for independent verification of a customer's identity when opening an account can be satisfied by examining a copy of the customer's: A birth certificate B driver's license C employer ID D latest federal tax return
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Answer:
umm c I guess maybe hahhaha
A city's water division generated $1.5 million in revenue. It reported expenses of $1 million, which included $200,000 paid to an internal service fund. The water division also transferred $50,000 to the general fund. What amount is the water division's change in net position on the statement of revenues, expenses, and changes in fund net position
Answers
The water division's change in net position on the statement of revenues, expenses, and changes in fund net position amount is $450,000.
Using this formula
Change in net position=Revenue-Expenses-Transfer to general fund
Where:
Revenue=$1.5 million
Expenses=$1 million
Transfer to general fund=$50,000
Let plug in the formula
Change in net position=$1.5 million-$1 million-$50,000
Change in net position=$450,000
Inconclusion the water division's change in net position on the statement of revenues, expenses, and changes in fund net position amount is $450,000.
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HELP QUICK PLEASE!!!!! William is not generally a risk-taker, but he knows he may need to step out of his comfort zone to make enough money for retirement. Which investment option would best meet William’s needs?
a US savings bond
a savings account
a commodity
a certificate of deposit
Answers
Global Petroleum negotiated a deal with Saudi Arabia in which Global Petroleum would build several refineries in Saudi Arabia and receive oil as partial payment over a 20-year period. This is an example of
Answers
Considering the situation described above, when Global Petroleum negotiated a deal with Saudi Arabia, this is an example of Bartering.
What is a Bartering?Bartering is a transaction agreement whereby both parties agree to pay with goods or services without using money.
Therefore, in this situation, when Global Petroleum negotiated with Saudi Arabia to receive oil as partial payment over 20 years. This is an example of Bartering.
Hence, in this case, it is concluded that the correct answer is Bartering.
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What are the dimensions of situational control identified by Fiedler's contingency leadership model? (Check all that apply.)
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There are ways to control different situations. The dimensions of situational control Fiedler's contingency theory are leader-member relations, task structure, and position power.
Fiedler's is popularly known for his contingency theory. This theory helps to understand why managers can behave so differently.
The contingency theory states that there no one single leadership style often works for all employees.
He stated also that there are situational-contingent elements that influences a leader's ability to lead.
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current assets minus current liabilities is called
Answers
Answer:
working capital also called net working capital (NWC)
Which of the following could result in higher living costs for the homeowner that the renter doesn’t have? a. Decreased property value b. Down payment c. Maintenance d. Monthly payment.
Answers
Maintenance could result in higher living costs for the homeowner that the renter doesn't have.
The homeowners are more beneficial as compared to renters because the homeowners own the house as the property or the assets or can be called as the possession.
Who are the renters?The renter is the person who takes a room or part of the house at rent and pays for the area that is utilized by the individual.
The maintenance cost is the additional cost that is paid by the renter to the homeowner in order to keep the rooms and the house well maintained.
Therefore, the correct answer is C.
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which is one advantage of private insurance offered by most employers
Answers
Answer: A managed care plan that keeps costs low
Explanation:
I took the test
If you borrow $1500 with a compounding interest rate of 8% for 2 years, that compounds semi-annually. How much will you pay back in total at the end of 2 years
Answers
Answer:
1740
Explanation:
1500(1+[tex]\frac{8}{100}[/tex])^2
1500*([tex]\frac{27}{25}[/tex])^2
= 1749.6
If the Fed raises the interest rate, this will ________ inflation and ________ real GDP in the short run.
Answers
Answer:
reduce; lower
Explanation:
If this helped, please give brainliest answer! Thanks!
Describe which fiscal policies of the U.S. Congress would be considered expansionary actions and which would be contractionary actions
Answers
Answer:
Congress acts to cut tax rates or increase government spending, shifting the aggregate demand curve to the right.
Explanation:
Contractionary fiscal policy occurs when Congress raises tax rates or cuts government spending, shifting aggregate demand to the left.
The value of the existing venture plus the proceeds from the potential new equity issue is known as: Group of answer choices pre-money valuation post money valuation staged financing the capitalization rate
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The stock in Bowie Enterprises has a beta of .91. The expected return on the market is 12.10 percent and the risk-free rate is 2.97 percent. What is the required return on the company's stock
Answers
Answer:
3 . 9 %
Explanation:
Wilbur has $800 to open a checking account. He can maintain a minimum balance of at least $500. He plans to use the ATM twice a month and he maintains a savings account at the same bank. His employer has direct deposit and he sometimes overdrafts his account. Bank Account Terms and Conditions Bank Account terms and conditions. Bank A is best for Wilbur. Wilbur wants a checking account with the lowest fees. Which checking account would be best for Wilbur? Account A Account B Account C Account D.
Answers
Answer:
Account A
Explanation:
It should be noted that the checking account that would be best for Wilbur is Account A.
A checking account simply means a type of bank account that allows one to easily deposit and withdraw money to carry out transactions.
From the complete information, it can be noted that Wilbur wants a checking account with the lowest fees. Therefore, the best option that should be chosen is Account A.
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You work in sales, and you find your work to be more of a lifestyle than a job. It often involves complex customer situations and weeks of preparation and problem solving to help find workable solutions for those situations. You enjoy it because it enables you to travel to many places and interact with people continuously. However, much of your work involves careful follow-up after your customer visits. Which personal sales channel have you chosen as a career
Answers
There are different aspect of sales. The personal sales channel have you chosen as a career is Field selling.
There are different kinds of selling. they include;
Transactional sellingConsultative sellingField selling Collaborative selling, etc.Field marketing which is commonly described as field selling is known to be an old method in direct marketing. It is when people are involved in distributing, auditing, selling etc., on the field. It is known to be a one-way communication tool.
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An employee at an auto repair garage proposes a new, efficient way to
safely dispose of used motor oil. This is an example of
O Creativity and Innovation.
O Teamwork.
O Work ethic.
O Critical thinking and problem solving.
Answers
In every state, there is a government-subsidized university. This subsidy, in theory, would make it possible for tuition to be lower than it otherwise would have been. How might an economist employed by the government justify the subsidy
Answers
The economist employed by the government will justify the subsidy by saying it is expected to increase the productivity which is the basis for the long run aggregate supply curve.
Basically, a subsidies is a program which are provided for education to improve the skills of the individuals going to college.
Economically, the program is expected to increase the productivity which is is the basis for the long run aggregate supply curve.
Now, once the productivity is increased, the potential GDP is increased and thus, the long-run aggregate supply curve is shifted to the right which increases the current GDP as well.
In conclusion, the economist employed by the government will justify the subsidy by saying it is expected to increase the productivity which is the basis for the long run aggregate supply curve.
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Whenever you go into your local grocery store, your purchases are rung up using hardware that is a ______ system. The data from these purchases are likely to be acquired by leading marketing research firms.
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Whenever you go into your local grocery store, your purchases are rung up using hardware that is a Scanner system. The data from these purchases are likely to be acquired by leading marketing research firms.
A scanner system is often in used in businesses to crosscheck the items that were purchased by the buyers. This helps to prevent theft and detect any other dishonest activities.
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under the omnibus crime control and safe streets act of 1968, what are employers allowed to do?
Answers
Answer:only monitor phone calls for compliance
Explanation:
Choose Yes or No to tell if the number 104 will make each equation true.
17 × □ = 1,700
Choose...
6 × □ = 60,000
Choose...
30 × □ = 300,000
Choose...
205 × □ = 205,000
Answers
Answer:
❤I gotcha bro bro
Explanation:
1.No
2.No
3.No
4.No
Your question needs to be more informative and you need more tutoring on Math no offense just Advice
what is represented by the distance between two vertical white gridlines on this graph?
Answers
The information which is represented by the distance between two (2) vertical white gridlines on the graph in the image attached is: a time span of 50 years.
A graph can be defined as the graphical representation of data (information) on both the horizontal and vertical lines, which are x-axis and y-axis respectively.
In this scenario, the x-coordinates is used to represent time in years ranging from 1500 to 2050.
On the other hand, the y-coordinates is used to represent the total population in billions.
From the graph, we can deduce that each point of the vertical white gridlines with respect to another represent a time span of 50 years.
For example:
[tex]Time\;span = 1950-1900[/tex]
Time span = 50 years.
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the ceo of what company stepped down this week, after having co-founded the business and led it from 2006-2008 and from 2015-2021?
Answers
The CEO of Twittter stepped down after having co founded the business and led it from 2015 to 2021.
The CEO of twittter is Jack Dorsey. He is an American. After he stepped down, the technological app was handed over to the Chief Technological officer as his replacement.
The reason why the co-founder decided to step down was due to his plans to focus on philanthropy and also to focus on crypto currency.
This came 15 years after the company was founded.
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Marion sells for the Whatisits Company of Whoville. An analysis of the performance of the company's 25 person sales force shows that the average sales rep works 250 days a year, makes four calls a day, obtains an order, averaging $15,000, every ten calls made. Marion worked 200 days last year during which she made a total of 700 calls which resulted in 50 orders totaling $1,500,000 in sales volume. What was Marion's average order size
Answers
Based on the information given Marion's average order size is $30,000 per order.
Using this formula
Average order size=Total cost of order in sales volume/Total order
Where:
Total cost of order in sales volume=$1,500,000
Total order=50 orders
Let plug in the formula
Average order size=$1,500,000 / 50 Orders
Average order size=$30,000 per order
Inconclusion Marion's average order size is $30,000 per order.
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