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Goshia [24]
3 years ago
9

A person who opens accounts at several banks, knowingly, issues a check that overdraws their account at bank 1, and then deposit

s a check in that account from their bank 2 account to cover the first worthless check is a _____.
Social Studies
1 answer:
Misha Larkins [42]3 years ago
5 0

Answer:

Check kiter.

Explanation:

What the exercise describes is a form of fraud commited with checks. The check kiter would take advantage of the float to make use of funds (that do not exist) in a bank account transforming a check in a form of unauthorized credit, like the exercise examplifies: Out of 2 accounts, you issue a check that overdraws their accout at bank 1, and then deposits a check in that account from their bank 2 to cover the first check. You "abuse" the float to make use of funds that don't exist.

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Read 2 more answers
If 5 dollars and 35 crowns is equivalent to 7 pounds, and 4 dollars and 4 pounds is equivalent to 56 crowns, 1 pound and 28 crow
olga nikolaevna [1]

Answer:

1 pound and 28 crowns is equivalent to 7 dollars.

Explanation:

Let the dollars be x , crowns be y and pound be z.

To find = 1z + 28y = ? (value in dollars)

5 dollars and 35 crowns is equivalent to 7 pounds

5x+35y=7z...[1]

z=\frac{5}{7}x+5y

4 dollars and 4 pounds is equivalent to 56 crowns

4x+4z=56y

x+z=14y...[2]

Using value of from [1] here in [2]:

x+\frac{5}{7}x+5y=14y

\frac{12}{7}x=9y

y=\frac{4}{21}x

Now:

z=\frac{5}{7}x+5y

z=\frac{5}{7}x+5\times\frac{4}{21}x

z=\frac{35}{21}x=\frac{5}{3}x

1z + 28y = ?

\frac{5}{3}x+28\times \frac{4}{21}x

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1 pound and 28 crowns is equivalent to 7 dollars.

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