Consider a $5,000, 6%, 180-day interest-bearing note and a non-interest- bearing note for the same amount and time period with a bank discount of 6%. From the borrower’s point of view, which is the better loan and why?
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Consider a $5,000, 6%, 180-day interest-bearing note and a non-interest-
bearing note for the same amount and time period with a bank discount of 6%. From the borrower’s point of view, which is the better loan and why?
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- 3. Write the difference between debit cards and credit cards. 4. Describe the difference between simple and compound interest. 5. Define the terms: mortgage and down payment? 6. In what circumstance we use formula A = Pert to calculate the %3D future value from compound interest?pls refer to the image attached, 1. suppose that you have the capacity to pay, would you rather borrow a loan that is amortized monthly, or one that is amortized quarterly? 2. what is your considerations when availing a loan? (quantitative or qualitative considerations) Discuss.How can we calculate the total annual interest payment for a credit card debt of $ 1,000?
- 6. Calculating simple interest and APR on a single-payment loan You are taking out a single-payment loan that uses the simple interest method to compute the finance charge. You need to figure out what your payment will be when the loan comes due. The equation to calculate the finance charge is: FsFs = P r t In the equation, FsFs is the finance charge for the loan. What are the other values? P is the amount of the loan. r is the stated rate of interest. t is the term of the loan in . You’re borrowing $4,000 for a year and a half with a stated annual interest rate of 10%. Complete the following table. (Note: Round your answers to the nearest dollar.)Toms UI IVesuTment to ychciut ed as a cost of borrowing to compensate the opportunity costs of the bank with I to the cash loaned to you. Moreover, the interest rate is usually expressed as nual percentage rate. activity ctions: On the space provided, write TRUE if the idea being expressed is correct and FALSE if otherwise. 1. In the most loan amortization schedules, amortization of discount or premium of the loan increases over time. 2. The process of obtaining future values is called discounting. 3. An annuity in which cash flows occur at the end of each period is called annuity. ageCan we calculate the total annual interest payment for a credit card by using the future value formula? how?
- A borrower has two alternatives for a loan: (1) issue a $360,000, 60-day, 5% note or (2) issue a $360,000, 60-day note that the creditor discounts at 5%. a. Compute the amount of the interest expense for each option. b. Determine the proceeds received by the borrower in each situation. c. Which alternative is more favorable to the borrower? Explain.Economics Consider a compounding loan plan where the amounts owed at EOYS 3 and 4 are $5,800 and $6.264, respectively. Approximately, what would be the amount of the loan?A borrower has two alternatives for a loan: (1) issue a $360,000, 60-day, 5% note or (2) issuea $360,000, 60-day note that the creditor discounts at 5%.a. Calculate the amount of the interest expense for each option.b. Determine the proceeds received by the borrower in each situation.c. Which alternative is more favorable to the borrower? Explain.
- Which interest rate is used on very short term loans from one bank to another? A. PRIME INTEREST RATE B.TREASURY BILL RATE C. COMMERCIAL PAPER RATE D. FED FUNDS RATESuppose that you have the capacity to pay, would you rather borrow a loan that is amortized monthly or one that is amotized quarterly? what are your considerations when availing a loan (qualitative or quantitative) discuss.Suppose that a bank does the following: a. Sets a loan rate on a prospective loan with BR = 4.23% and ϕ = 3.16%. b. Charges a 0.33 percent loan origination fee to the borrower. c. Imposes a 9 percent compensating balance requirement to be held as noninterest-bearing demand deposits. d. Holds reserve requirements of 8 percent imposed by the Federal Reserve on the bank’s demand deposits. Calculate the bank’s ROA on this loan.