首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
• Read the article below about American consumers’ borrowing styles, and the questions on the opposite page. • For each question
• Read the article below about American consumers’ borrowing styles, and the questions on the opposite page. • For each question
admin
2014-03-03
74
问题
• Read the article below about American consumers’ borrowing styles, and the questions on the opposite page.
• For each question 13--18, mark one letter (A, B, C, or D) on your Answer Sheet for the answer you choose.
HOW DO AMERICAN CONSUMERS BORROW?
Young consumers often have not established their credit ratings. Many do not have steady incomes. They might have difficulty borrowing money from an agency in business to make loan. Parents or relatives are usually their best source of loans. Of course, the parents or relatives would have money available and be willing to lend it. You might even get an interest-free loan.
For most consumers the cheapest place to borrow is at the commercial bank. Banks are a good source of installment loan which may run for 12 months up to 30. Most of banks also make single-payment loans to consumers for short periods--30, 60, or 90 days. The newest type of bank loan is one that a depositor can get simply by writing a check. It works like this. A depositor is given a limited amount of credit, usually between $ 500 and $1, 000. He or she may write checks up to the amount allowed. Once a check has been written, the amount of the check becomes a loan. Usually no charge is made for interest until the loan is made. A typical interest rate is 3 cents per $100 per day, or just under 1% a month. Suppose that you used $100 of your credit and repaid it in 30 days. The cost would be 90 cents. If you repaid it in 10 days, the cost would be only 30 cents.
There is another source of consumer loans that may be even cheaper than a bank. It is a credit union. But you have to be a member to borrow from one. A credit union is a cooperative. You remember that a cooperative is a business organized to provide its owners, or members, with goods or services at a saving. Like a bank, a credit union is both a savings and a lending organization. Its members deposit their savings in the credit union and are paid interest in return. These savings are used to make loans to members at low rates. Members of a credit union are people with a common bond. They may work for the same firm or belong to the same church, lodge, or labor union.
Consumer loans are small in amount compared to those made to business firms. Companies that specialize in making loans to consumers, therefore, are sometimes called small-loan companies. These companies operate under state laws which regulate both the maximum amount that can be loaned and the rates charged. Regulations vary from one state to another. In general, however, the rates charged by small-loan companies are higher than those of other legal lenders except pawnbrokers. The following facts should tell you why.
Half or more of the loans made by small-loan companies are signature of character loans. Practically all loans are paid in installments. In some states, small-loan companies will lend as little as $ 25 or $ 50. Many of their customers are persons whose credit ratings are so poor that they cannot borrow elsewhere.
Another possible source of loans is a life insurance policy. Life insurance loans are easy to obtain. The rate charged is less than that for almost any other type of loan available to consumers. This is because the lender takes no risk. Also, borrowers may take as long as they want to repay their loans. Although that may seem like an advantage, it can also be a disadvantage. When a borrower is not required to repay a loan within a certain time, it is easy to let it run on and on. This increases the dollar cost of the loan because interest must be paid for as long as the loan continues.
According to paragraph 2, if you use $100 of your credit and repay it in 20 days, how much interest will you pay?
选项
A、70 cents.
B、60 cents.
C、80 cents.
D、50 cents.
答案
B
解析
转载请注明原文地址:https://kaotiyun.com/show/OcoO777K
本试题收录于:
BEC中级阅读题库BEC商务英语分类
0
BEC中级阅读
BEC商务英语
相关试题推荐
•Youwillhearfiveshortrecordings.Fivepeoplearetalkingabouttheirexperiencesofexpandingtheirbusinesswiththehelp
ThemergerwasexpectedtohelpthecombinedcompanytoThemanagementstructurefollowingthemergerledto
•Therearethirtyquestionsonthisquestionpaper.•Instructionsaregivenonthetape.•YoucanwriteonthisQuestionPape
•Youwillhearfiveshortrecordings.•Foreachrecording,decidewhatthespeaker’sstrategyisforsuccessinmanagement.•
ThecrisismetbyJapanesechemicalgroupsiscausedby______isJapan’sbiggestplasticsgroup.
•Therearethirtyquestionsonthisquestionpaper.Instructionsaregivenonthetape.•YoucanwriteonthisQuestionPape
YouwillhearapartofaspeechabouttheAsiancrisis.Choosethebestanswerforeachofthequestions(23—30).Markonele
YouwillhearaninterviewwithamanageronblendingEasternandWesternmanagementstyles.Foreachquestion(23-30),mark
—Readthearticleaboutchoosinganagent.—Inmostofthelines34~45thereisoneextraword.Itiseithergrammaticallyincor
—Readthearticleaboutchoosinganagent.—Inmostofthelines34~45thereisoneextraword.Itiseithergrammaticallyincor
随机试题
在货物招标评标过程的初步评审中,属于重大偏差中的技术条件的实质性不响应内容是()。
当面临经济过热的情形时,可采取的政策有()。
下列质量问题中,不属于施工单位在保修期内承担保修责任的有()。
销售代表
下列各项有关中期财务报告的表述中,正确的有()。
日本玉川大学著名质量管理专家谷津进教授曾将质量改进的步骤用图表示为()。
桥梁:石拱桥:赵州桥
“巧妇难为无米之炊”体现的哲理是
下列排序方法中,最坏情况下比较次数最少的是
繁荣景象
最新回复
(
0
)