In response to <u>credit</u> discrimination, congress passed the equal credit opportunity act. Read below about Equal Credit opportunity.
<h3>What is Equal Credit opportunity?</h3>
The Equal Credit Opportunity Act (ECOA) is a United States law which was enacted on 28 October 1974.
<h3>What is the provision of the Equal Credit Opportunity Act?</h3>
The act makes it unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction, on the basis of race, color, religion, national origin, sex, marital status, or age.
Therefore, the correct answer is as given above.
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Answer:
$274.54
Explanation:
Given:
n = 15 years
Future Value, FV = 1000
rate, r = 9%
Required:
Find the initial price of the bond
Given that we have a zero coupon bond here, it means the par value is paid at date of maturity, and no issuer pays no regular coupon payment.
To find the initial price of the bond, use the formula:
Substitute figures:
The initial price of the bond should be $274.54
Answer:
Its total cash flow at the end of year 3 is:
$792.
Explanation:
a) Data and Calculations:
Maturity of bond = 5 years
Face value = $1,000
Coupon rate = 8%
Amortization schedule for each year = 20% (100/5)
Bond’s Periodic Cash flows:
End of year 1 = $200 + $80 interest ($1,000 * 8%) = $280
End of year 2 = $200 + $64 interest ($800 * 8%) = $264
End of year 3 = $200 + $48 interest ($600 * 8%) = $248
Total cash flow at the end of year 3 = $792
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<span>The correct answer is Monetary Policy. Monteray policies are made by institutions like central banks with the goal of adjusting or fighting inflation and deflation rates. Fiscal policies would be policies about public spending or about imports and exports and would be made by the congress and not by the central bank.</span>
