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Korolek [52]
3 years ago
14

You are a loan officer at a bank. An application comes to you for $5000 loan. Explain why you would want to know the persons cre

dit history
Business
1 answer:
Tems11 [23]3 years ago
5 0

A credit history is a record of a borrower's responsible repayment of debts. A credit report is a record of the borrower's credit history from a number of sources, including banks, credit card companies, collection agencies, and governments.

A good credit score means that the person receiving the loan is reliable and will be more likely to pay off the loan in a reasonable amount of time.

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One of your customers is delinquent on his accounts payable balance. you’ve mutually agreed to a repayment schedule of $750 per
liubo4ka [24]
In this problem, we need to find the length of an annuity. We already identified the interest rate, the PV, and the payments.
Using the PVA equation: PVA =C({1 – [1/(1 +r)t]} /r
$18,000 = $750{[1 – (1/1.019) t] / 0.019}
Then solve for t:
1/1.019t= 1 − {[($18,000)/($750)](0.019)}
1/1.019t= 0.544
1.019t= 1/(0.544) = 1.838
t= ln 2.193 / ln 1.019 = 32.34 months or 2.7 in years
4 0
3 years ago
What are the two components of a universal policy?​
gtnhenbr [62]

Answer:

Hey mate.....

Explanation:

This is ur answer.....

<em>Universal policy premiums include two components: the cost of insurance amount and the savings component amount, also known as the cash value. The cost of insurance (COI) is the minimum amount you must pay to keep your policy active. This amount varies based on your age, health, and insured risk amount.</em>

Hope it helps!

mark me as the brainliest.....

Follow me! :)

8 0
2 years ago
Read 2 more answers
Suppose Kenji decides to buy 100 shares of NanoSpeck stock.Which of the following statements are correct? A) The price of his sh
Ivahew [28]

Answer:

A) The price of his shares will rise if NanoSpeck issues additional shares of stock.

C) Expectations of a recession that will reduce economy-wide corporate profits will likely cause the value of Kenji's shares to decline.

Explanation:

if a demand for kanji's is more than its supply, the share prices increase. if the sellers of a particular stock are more than its buyers, the share price decreases. if the company is earning much profit, the share price will rise.

5 0
3 years ago
Preparing a trial balanceSmithson Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear i
Triss [41]

Answer:

                                             Smithson Floor Coverings

                                                       Trial Balance

                                        As at 31st December 31, 2018

<u>Account                                                              Dr ($)                       Cr($)           </u>

Revenue                                                                                              26,000

Salaries Payable                                                                                  25,000

Equipment                                                          36,000

Salaries Expense                                                  1,600

Rent Expense                                                     17,000

Cash                                                                      7,000

Common Stock                                                                                     24,000

Accounts Receivable                                            3,600

Accounts Payable                                                                                 2,200

Interest Payable                                                                                    6,000

Dividend                                                                16,100

Utilities Expense                                                   <u> 1,900   </u>                  <u>             </u>

                                                                            <u> 83,200  </u>                  <u> 83,200</u>

Explanation:

In accounting, liability, Income and equity items have credit balances while assets and expenses have debit balances.

With that background, Start by picking balance relating to income and post them to the credit side of the trial balance, like revenue.

After that, pick balance relating to liability post them to the credit side of the trial balance, like trade payable.

Then pick balance relating to equity item, post them to the credit side of the trial balance, like common stock.

After this, pick items relating to asset and post them to the debit side of the trial balance, like trade receivables. Then, pick items relating to expenses and then post them to the debit side of the trial balance.

At the end, all income, liability and equity item balances are posted to the credit side of the trial balance while assets and expenses item balances are posted to the debit side.  And two sides balance.

Remember the purpose of a trial balance is to check the arithmetical accuracy of ledger balances and that was exactly what was done above.

5 0
3 years ago
The city of ann arbor michigan buys a police car manufactured in germany. in the gdp accounts this transaction is included in
Xelga [282]

Government expenditures and imports

4 0
3 years ago
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