Ugba 135 final exam 2023 Study guides, Class notes & Summaries

UGBA 135 Final Exam Questions and Answers 2023 Complete What is "good debt"? Taking out loans in order to pay off a car, a mortgage or an education or starting a business What is considered "bad debt"? - Borrowing money to support a lifestyle of living beyond one's means What is the definition of a Modern Day Millionaire? - Financially independent, no government assistance, living the life they want to lead What is a credit card? - An unsecured line of credit - based on good fait...

UGBA 135 final exam 2023 with complete solution What's the rule of 72? How long it takes for a sum of money to double at a given interest rate 72/interest rate = # of years to double OR 72/# of years to double = interest rate What's a general partner? A general partner has the authority to act on behalf of the business without the knowledge or permission of the other partners. Unlike a limited or silent partner, the general partner may have unlimited liability for the debts of the busine...

UGBA 135 FINAL EXAM PRACTICE QUESTIONS WITH ANSWERS 2023 (Rated A+) what is a prepaid card? - answerPrepaid cards are offered by banks and non banks. They are not linked to a bank account. Prepaid cards were initially designed to provide less the affluent, those without a bank account, to carry money. However, bnks have found that they can be quite lucrative as they may charge initiation fees, inactivity fees, fees to load money onto the card, fees if you do NOT load money onto the card, fee...

UGBA 135 Final Exam Questions With Correct Answers 2023 (Gradec 100%) Most important aspect of a credit score is paying on time all the time 12. Names of 3 main credit agencies: Experian, Equifax, TransUnion 13. Variable vs. go-to rate of interest a. Variable: interest rate that moves up and down based upon a benchmark not controlled by the lender b. Go-to: interest rate charged on unpaid credit card balances in addition to the variable rate, determines total interest rate 14. What is a ...

UGBA 135 Final Exam Questions and Answers 2023 Complete What is "good debt"? Taking out loans in order to pay off a car, a mortgage or an education or starting a business What is considered "bad debt"? - Borrowing money to support a lifestyle of living beyond one's means What is the definition of a Modern Day Millionaire? - Financially independent, no government assistance, living the life they want to lead What is a credit card? - An unsecured line of credit - based on good fait...

UGBA 135 Final Exam Questions With Correct Answers 2023 | 2024. Rule of 72: 72/interest rate = time it takes to double wealth 2. What is compounding: interest on interest 3. Cornerstone of wealth is being frugal 4. Before you start saving money, you should: a. attack high interest debt like credit cards b. Do everything you can to maximize employer 401k match 5. You always need consideration with a contract a. All blanks filled in with signatures and dates 6. Difference between revenue/...

UGBA 135 FINAL EXAM PREP | QUESTIONS WITH ANSWERS 2023 Graded. What is a go-to rate? - answerA go-to rate is an interest rate you are charged on unpaid credit card balances, in additon to the variable rate, to determine the total rate of interest on your account. Your go-to rate is based on your credit history. As your credit card history improvesor declines, so is the likelihood that your go-to-rate will rise or fall on future borrowings. For examples, if your go-to-rate is 8% and the vari...