Timothy Gartner, an employee in the Bank of Trust and Faith, has requested for a loan of$200,000 to buy a private cruise. The bank has an unimpaired capital and surplus of $38million and $75 million in total time and savings deposits. Average revenue for the bank in thelast three years is $18.5 million and a net interest income of $5.2 million. What is themaximum amount of loan the bank can grant to Timothy?A. $950,000B. $200,000C. $25,000D. $100,000

Banks follow a policy to give a personal loan from $10000 to $100000. However, it depends on the…

Answered: Timothy Gartner, an employee in the…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Mason Industries purchased a drilling rig for $75,900. Delivery costs totaled $2,817. The useful life is 7 years and the salvage value is $12,952. Prepare a depreciation schedule using the straight-line method. Mason IndustriesDepreciation Schedule—Drilling End of Year Annual Depreciation ($) Accumulated Depreciation ($) Book Value ($) $78,717 (new) 1 $ $ $ 2 $ $ $ 3 $ $ $ 4 $ $ $ 5 $ $ $ 6 $ $ $ 7 $ $ $
Sarah's comprehensive major medical health insurance plan at work has a deductible of $750. The policy pays 85 percent of any amount above the deductible. While on a hiking trip, she contracted a rare bacterial disease. Her medical costs for treatment, including medicines, tests, and a six-day hospital stay, totaled $8,893. A friend told her that she would have paid less if she had a policy with a stop-loss feature that capped her out-of-pocket expenses at $3,000. The policy with the stop-loss feature has the same deductible and coinsurance requirement as Sarah's current policy. Determine which policy would have cost Sarah less and by how much. (Round your intermediate calculations and final answer to 2 decimal places.) Current policy Stop-loss feature No difference in Sarah's cost for this claim. Difference amount
Your credit card has a balance of $4200 and an annual interest rate of 13%. You decide to pay off the balance over four years. If there are no further purchases charged to the card, you must pay $112.70 each month, and you will pay a total interest of $1209.60. Assume you decide to pay off the balance over one year rather than four. How much more must you pay each month and how much less will you pay in total interest? A. You will pay $__ more each month. B. You will pay $__ less each month.
While shopping for a car loan, you get the following offers: Solid Savings & Loan is willing to loan you $10,000 at 4% interest for 4 years. Fifth Federal Bank & Trust will loan you the $10,000 at 5% interest for 3 years. Both require monthly payments. You can afford to pay $250 per month. Which loan, if either, can you take?
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On April 1st, Bob the Builder entered into a contract of one-month duration to build a barn for Nolan. Bob is guaranteed to receive a base fee of $4,400 for his services in addition to a bonus depending on when the project is completed. Nolan created incentives for Bob to finish the barn as soon as he can without jeopardizing the structural integrity of the barn. Nolan offered to pay an additional 20% of the base fee if the project finished 2 weeks early and 15% if the project finished a week early. The probability of finishing 2 weeks early is 20% and the probability of finishing a week early is 65%. What is the expected transaction price with variable consideration estimated as the expected value? Multiple Choice $5,005 $4,180 $5,862 $4,400

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