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Lemur [1.5K]
3 years ago
11

Maria is going to take out a loan with a principal of $19,700. She has narrowed down her options to two banks. Bank M charges an

interest rate of 7.1%, compounded monthly, and requires that the loan be paid off in five years. Bank N charges an interest rate of 7.8%, compounded monthly, and requires that the loan be paid off in four years. How would you recommend that Maria choose her loan?
Business
1 answer:
Vadim26 [7]3 years ago
3 0

Answer:

Loan principal amount = $19,700

Bank M:

Interest rate charges = 7.1% compounded monthly

Loan will be paid off in = Five years

Bank N:

Interest rate charges = 7.8% compounded monthly

Loan will be paid off in = Four years

From the above information, we would recommend that Maria choose her loan from Bank M if she wants a lower monthly payments and Maria choose her loan from Bank N if she wants a lower lifetime cost.

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Michone lost her job and ended up deep in debt after she was arrested for causing a car accident while she was drinking and driv
statuscvo [17]

Answer:

Michone's creditors (listed in order of priority):

  1. bank = $500,000 mortgage (secured loan)
  2. child support = $5,000 (priority class of unsecured creditors)
  3. legal fees = $4,000 (second class of unsecured creditors)
  4. State government* = property taxes for $8,000 (eighth class of unsecured creditors, but property taxes are always collected after a property is sold either by foreclosure or by court order). Even if the new buyer didn't know anything about the delinquent property taxes, he/she is responsible for paying them after the sale is made and it cannot be avoided.
  5. car accident victim = $40,000 (tenth class of unsecured creditor)

*Generally taxes owed are a lower class of priority unsecured creditors, but taxes never disappear. In this case, the property taxes are going to be paid by whoever bought the house or the bank in case the house was foreclosed. Michone will not pay them, but someone else will.

Assuming that Michone only had $10,000 left after selling the house (both property taxes and mortgage are paid for), she will need to pay child support first. Child support and alimony payments always have the top priority.

Then with the remaining $5,000 administrative and legal fees will be paid, meaning that the attorney fees will be paid first. The car accident victim will receive only $1,000.

3 0
3 years ago
QUESTION 01 (10 points) ‐ Coefficient of Variation (CV) We need to compare volatility of multiple assets. As the assets have dif
barxatty [35]

Answer:

a, Coefficient of variation

   = <u>Standard deviation</u> x 100

          Mean

b, Coefficient of variation

  Asset A

   Coefficient of variation

   = <u>$23.48</u>   x 100

      $181.92

  = 12.91%

   Asset B

  Coefficient of variation

  = <u>$0.09</u> x 100

     $0.38

 = 23.68%

  Asset C

   Coefficient of variation

  = <u>$27.31 </u>  x 100

     $247.19

  = 11.05%

Asset C is least volatile while Asset B is most volatile

Explanation:

Coefficient of variation is the ratio of standard deviation to mean (expected return) multiplied by 100. It is used to measure the volatility of assets. Asset  C has the least coefficient of variation, thus, it is the least volatile. Asset B has the highest coefficient of variation, which implies that it is the most volatile.

4 0
3 years ago
Which type of delivery format would be the best choice for the keynote speech that welcomes employees?
Naya [18.7K]
I think a. manuscript
5 0
2 years ago
An international distribution company has a shipping division, a warehouse division, and a computer hardware and software distri
TiliK225 [7]

Answer: Chain of command

 

Explanation:

  The chain of command is one of the type of official organizational hierarchy in which the various types of relationship are establishing the accountability and the power for making the various types of decisions.

The chain of command is basically responsible for filing various types of issues or complaints in an organization for the employees or workers.

According to the given question, the salesperson is experiencing the issue with the chain of command as salesperson is working in the shipping department and the company's accounting department told him to turn his weekly account of the expenditure.

 Therefore, Chain of command is the correct answer.  

3 0
3 years ago
If you use your ATM card, you should write the transaction in your check register.
lozanna [386]
True hope I help u out
3 0
2 years ago
Read 2 more answers
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