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barxatty [35]
2 years ago
14

Nancy Appleton obtained a $45,000 loan for her start-up business. The SBA guaranteed 75% of the loan. How much has the bank risk

ed losing if Nancy's business fails?
Business
1 answer:
erma4kov [3.2K]2 years ago
3 0

Based on the percentage that SBA guaranteed out of Nancy's loan, the bank stands to lose $11,250.

<h3>How much does the bank stand to lose?</h3>

The bank stands to lose the amount that wasn't guaranteed by the SBA in the event that Nancy Appleton's business fails.

This amount can be found as:

= Loan amount x ( 1 - percentage guaranteed)

Solving gives:

= 45,000 x ( 1 - 75%)

= $11,250

Find out more on loan guarantees at brainly.com/question/9636559.

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