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maxonik [38]
3 years ago
14

Leah deposited $50,000 in the bank. Three years later, she borrowed $40,000 for a new truck. From this description, which is the

most accurate statement?
A. Leah is earning more interest than she is paying.
B. Leah did not have to provide collateral.
C. Leah is being charged too much interest.
D. Leah has the character to make payments on the loan.
Business
2 answers:
Anarel [89]3 years ago
5 0
B. leah did not have to provide collateral

Angelina_Jolie [31]3 years ago
3 0

Answer:

As it is given in the question that leah has $50,000 in her bank account and after 3 year she borrowed forty thousand dollar from bank  which mean that she didn't have to provide collateral to borrowed money from bank.

Explanation:

As it is given in the question that leah has $50,000 in her bank account and after 3 year she borrowed forty thousand dollar from bank  which mean that she didn't have to provide collateral to borrowed money from bank.

collateral is that assets that has been put on security to borrowed money from home. But in this case as leah has $50000 in her account for three year and then borrowed $40,000 this mean she didn't need to put any collateral.

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4 0
1 year ago
Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 21 years Coupon rate: 9 percent Se
kifflom [539]

Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 21 years Coupon rate: 9 percent Semiannual payments Calculate the price of this bond if the YTM is  6% (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.):

Answer:

Price of bond = $982.63

Explanation:

<em>The value of the bond is the present value (PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV). </em>

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The value of bond for Microhard can be worked out as follows:

Step 1  

PV of interest payments

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= 9% × 1000 × 1/2 = 45

Semi-annual yield = 6%/2 = 3 % per six months

Total period to maturity (in months)

= (2 × 21) = 42 periods

PV of interest =  

45 × (1- (1+0.03)^(-21)/0.03)= 693.6

Step 2  

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Price of bond = $982.63

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