You've made the decision to purchase an item that is affordable only with a loan. When shopping for a loan, there are many aspects of the loans that you should examine. Which of the following questions should be asked and answered about a specific loan proposal before accepting a lender's offer? Check all that apply. What is the loon's APR? What is the reason for loan? What late payment charges, if any, can be accessed, and when? Does the loan have a prepayment penalty? Does the loan's payment date fit my budget? You're shopping foc a big loan, but you have misgivings about Deborah, the loan officer, at an institution you just visited. What are some reasons that may have you uneasy about accepting a loan there? Check all that apply. Deborah encouraged you to shop around. Deborah discussed options for taking out a smaller loan, such as selling current assets to raise a blgger down poyment. Deboroh volunteered portinent information that you didnt even know enough to ask about. Deborah gave you a range of terms and said theyll be worked out at closing. Deborah said that her loan was most likely the only one you'd be able to obtain. Deborah went over the fine print, such as late payment charget and prepayment provisionts. Deborah pointed out that the ADR and interest rate were different. Your parents may be sble to help you with the down payment, but Deborah told you to assume they will and to enter a down payment on the apolication including their contribution. Your parents may be able to help you with the down payment, but Deborah told you to assume they will and to enter a down payment on the application including their contribution. What are the characteristics of your reasons for feeling uneasy about Deborah the loan officer? Check all that apply. The way the loan officer omitted pertinent information Feeling under pressure to make a decision The loan officer's embelishment of the facts Your friend suggested you look into a variable-rate loan. What questions should you ask? Check all that apply. Is there a maximum rate? Can I afford the maximum possible monthly payment? What changes after a rate adjustment-the monthly payment amount or the number of monthly payments left on the loan? What is the interest rate tied to? Given the long list of relevant loan-related considerations described above, the paradox of choice often arises when attempting to moke borrowing decisions. Which of the following phrases sddresses the characteristics and recommended solutions for this phenomenon? Check all that apply. Mises when there are too few alternatives and you wish you had more features or options to select from Identify your goals and a framework for evaluating any trade-offs that must be made when making your decision Keep it simple and select the easiest or least expensive aiternative Prepare a list of possible alternatives and moke a random selection
