Main questions

To what does tax progressivity refer?

Why might stores choose to list $5 items for two for $10?

To what does tax progressivity refer? Why might stores choose to list $5 items for “two for $10”? To encourage customers to buy more than one item 🙂 What are the advantages of a bank savings account?

What is likely to happen if a borrower is late on a payment for a credit card account?

What is likely to happen if a borrower is late on a payment for a credit card account? … The credit card company cancels the card after the first tardy payment. The credit card company doubles the credit limit. The credit card company applies a penalty rate, increasing the card’s interest rate.

What are the advantages of a bank savings account quizlet?

An advantage of a regular savings account is the high liquidity, which means you can get your money out very easily. A disadvantage is low interest rates because you do not get a lot of money back in interest. An advantage of a certificate of deposit is how it has a higher interest rate than a savings account.

What are the advantages of a bank savings account economics?

Savings Account Advantages

Beyond keeping your funds safe, savings accounts also earn interest, so it pays to keep any unneeded funds in a savings account instead of accumulating cash in your checking account, where it will likely earn little or nothing.

Which tax uses the same rate for all income?

The next chunk of your income is then taxed at 12%, and so on, up to the top of your taxable income. The progressive tax system ensures that all taxpayers pay the same rates on the same levels of taxable income. The overall effect is that people with higher incomes pay higher taxes.

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How can I fix late payments on my credit card?

The process is easy: simply write a letter to your creditor explaining why you paid late. Ask them to forgive the late payment and assure them it won’t happen again. If they do agree to forgive the late payment, your creditor will adjust your credit report accordingly.

Can a delinquency be removed?

Late payments remain in your credit history for seven years from the original delinquency date, which is the date the account first became late. They cannot be removed after two years, but the further in the past the late payments occurred, the less impact they will have on credit scores and lending decisions.

Can a creditor remove a delinquency?

A 30-day delinquency has the potential to remain on your credit report for seven years. The more delinquent the account, the more dramatic the impact is on your credit. … Laws require creditors to report accurate account information, but there are no laws against removing negative information.

What is the major disadvantage of having a regular savings account?

One disadvantage of a regular savings account is that it has low interest rates. … One disadvantage of a certificate of deposit is that it has a higher interest rate than as savings account, but you must wait until the maturity date to get the money.

What is an advantage of a savings account Brainly?

The money is available for an emergency. The money can double or triple in a short period of time. The account is riskier that investing in stocks.

Which of the following is an advantage of certificates of deposit?

While CDs currently offer a leaner interest rate compared to robust rates of cycles past, don’t be discouraged. The benefits of a certificate of deposit are many, including safety, low-to-no fees and, in some cases, flexible maturity dates.

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What is better than a savings account?

With traditional passbook savings accounts paying only a little better now than next to nothing in interest, more and more individuals are looking for better-paying alternatives. 1 Among them are money market accounts, other bank-account options and peer-to-peer lending.

What is the best savings account to open?

Excluding accounts with limited withdrawals or other restrictions, the best instant-access savings rate is 1.16% AER, offered by NS&I. NS&I and Nationwide offer the next-best rate of 1% AER.

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