Introduction to Credit: Types of Credits

[@anamarienepaya7159]

Anamarie P. Nepaya In this video their are (3) three main types of credit.First, revolving credit not minimum payment and does not have fixed repayment schedule. Second, Installment which does have fixed payment schedule.Third, open credit the ability to use its product and services. Their are two types of loans payments the principal payment and interest payment. The principal payment is the value of the loan and must be repaid in full. Interest payment is the additional charge on top of principal amount that paid as compensation for making a loan. The interest payment have two types the regular interest and accrued interest. The regular interest is paid in cash while the accrued is not paid in cash. In this video discuss also the different loan feature. If i am the client using credit , i will choose secured loan,amortizing, and fixed rate loans because for me this is the advantage or positive side of different loans and the unsecured loans, non-amortizing, and variable rate loans is the disadvantage side of the loans.

[@BaNuj]

10:55 - is there mistake in how the principal is coutned? On the end in my calculator the balance end up wih "-0,05" according to payment rules.

[@umdfan87]

Appreciate the content. Keep it up!

[@lamelo9308]

thank you so much! I learned a lot

[@Hereismyhandlehereismystout]

POV you’re here right before an FBLA competiton

[@SmitaAgarwal-n7f]

@hereismyhandlemytout : spot on !

[@esmeraldadesireetremedal1068]

Present sir