Answer to Question #226488 in Marketing for deezy

Question #226488

You have been hired as a consultant to Freedom Inc. a consumer-focused financial institution intending to enter the Ghanaian market. Critically analyse what factors you shall consider in advising Freedom Inc. on how it should set its lending interest rates, accounts commissions, fees & charges


1
Expert's answer
2021-08-18T03:05:01-0400

Answer


As a consultant advising Freedom Inc. on how to set its borrowing interest rates, accounts commission, fees, and expenses, credit score, credit history, loan amount, loan type, length of time, co-borrowers, and payment frequency are all factors to consider. The lower the interest rate, the better the credit score of the company. The shorter a company's credit history, the less informed a borrower is about their debt repayment obligations. The lower the rate, the longer the payment history. Depending on the circumstances, the company's initial interest rate with an adjustable rate may be lower than with a fixed rate, but the rate may rise significantly after that.


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