A bank offers 35-year, $175,000 mortgages at 4.6 percent and charges a $3,600 refundable loan application fee. The current disclosure law requires that any fees that will be refunded if the applicant is rejected be included in calculating the APR What is the APR that they are required to disclose? (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)) APR Insecurity Bank and trust (Refundable) %

A bank offers 35-year, $175,000 mortgages at 4.6 percent and charges a $3,600 refundable loan application fee. The current disclosure law requires that any fees that will be refunded if the applicant is rejected be included in calculating the APR What is the APR that they are required to disclose? (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)) APR Insecurity Bank and trust (Refundable) %

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Sarasota Company borrowed $34,800 on November 1, 2025, by signing a $34,800, 9%, 3-month note. Prepare Sarasota's November 1, 2025, entry; the December 31, 2025, annual adjusting entry; and the February 1, 2026, entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit
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You have recorded a revolving line of credit on your company's financial statements due within the next ten (10) months as a long-term liability. The board of directors of the company has asked you to explain why you have done so. The company has been in default with its loan covenants, but prior to the issuance of the financial statements, the bank granted a waiver. With reference to the above scenario, answer the following questions in 1 - 2 paragraphs each. What is a line of credit? What promulgated accounting literature would your use to support your rationale described in your scenario? What criteria should be met prior to reflecting this loan as a long-term liability? Why would recording the loan as a long-term liability from a business standpoint of view make sense apart from compliance with promulgated standards? What footnote disclosure would be necessary for the line of credit?
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choose the letter of the correct answer Company A borrows P500,000.00 from the bank and is required to maintain a 15% compensating. Further, Wilson has an unused line of credit of P200,000.00, with a required 11% compensating balances. What is the total required compensating balance the firm must maintain a. P75,000.00b. P22,000.00c. P97,000.00d. P182,000.00

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