In finance, what do the terms financial leverage and financial risk mean? What is the arbitrage pricing theory (APT) and how is it similar and different from the Capital Asset Pricing Model (CAPM)? What are terms that I ...
The payoff for machine learning is the ability to analyze and interpret large amounts of data quickly and accurately. Once trained, machine learning models can identify in seconds or minutes patterns, trends, and insights that could take humans weeks to detect—or that might never see the light...
Machine learning and AI are often discussed together, and the terms are sometimes used interchangeably, but they don’t mean the same thing. In short, all machine learning is AI, but not all AI is machine learning. Key Takeaways Machine learning is a subset of AI. The four most common ...
That’s the rate your card issuer applies to your outstanding balance to calculate the finance charge for every billing period.What does APR mean?APR stands for “annual percentage rate”. Your credit card may not have just one annual percentage rate for interest, as the APR may vary based ...
Some upfront costs associated with a mortgage are considered “prepaid finance charges” in that they are only paid in order to obtain the mortgage and NOT tied to a tangible service.EXAMPLE: Homeowners insurance is a tangible product that could (and should!) be paid for regardless of the ...
Sometimes, this might work in your favor and reduce your interest rate and monthly payment. Or it may mean trading your current low rate for a higher one. There are closing costs. You can expect to pay around 3% to 5% of the loan amount in closing costs. If you don’t plan to sta...
Gap insurance, also sometimes called loan/lease payoff insurance, helps you pay off the loan in this situation. Remember, the loan doesn’t go away just because your car is totaled. How Does Gap Insurance Work? Consider the following example: Your vehicle is financed and you still owe $10...
combing the remaining balances into a single debt obligation. If both the senior debt and the secondary debt have the same maturity date, the process of calculating the total payoff required to settle the two loans is much simpler. That in turn makes it easier to determine the amount of the...
Collateral loans allow you to finance some of life's most expensive purchases, such as a vehicle or a house. They can also help borrowers with poor credit qualify for a credit card or personal loan. Still, as with any financing, it's crucial you understand the potential risks of secured ...
Depending on your financial situation, paying off the car title loan might not be possible — but it does put the brakes on the borrowing cycle. First, contact the title loan lender and ask for the payoff amount. Next, you must figure out where you can get the money to pay off the lo...