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maxonik [38]
3 years ago
12

Ivor borrowed $420,000 from Lear Bank. At Lear's request, Ivor entered into an agreement with Ash, Kane, and Queen for them to a

ct as co-sureties on the loan. The agreement between Ivor and the co-sureties provided that the maximum liability of each co-surety was: Ash, $84,000; Kane, $126,000; and Queen, $210,000. After making several payments, Ivor defaulted on the loan. The balance was $280,000. If Queen pays $210,000 and Ivor subsequently pays $70,000, what amounts may Queen recover from Ash and Kane?
Business
1 answer:
I am Lyosha [343]3 years ago
6 0

Answer:

what amounts may Queen recover from Ash and Kane?

Ash   56000

Kane 84000

Explanation:

Ivor Borrowed 420000  

 

Ash 84000 20,00%

Kane  126000 30,00%

Queen 210000 50,00%

420000  

 

Ash 56000 40,00%

Kane 84000 60,00%

Queen 210000  

Ivor 70000  

280000  

140000  

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3 years ago
CIRP. Jason Smith is a foreign exchange trader with Citibank. He notices the following quotes. Spot exchange rate SFr1.6627/$ Si
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Answer:

Answer explained below

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A.

For six months, rSFr => 1.50% and r$ => 1.75%.

Since the exchange rate is in SFr/$ terms, the appropriate expression for the interest rate parity relation is

F/S => [ (1 +  rSFr ) / ( 1 + r$) ]

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F/S *( 1 + r$) => (1 +  rSFr )

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B and C.

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As 1.0133 < 1.0150,

we can say that the EuroSFr quote is more than what it should be as per the quotes for the other three variables. And, we can also say that the Euro$ quote is less than what it should be as per the quotes for the other three variables. Therefore, the arbitrage strategy should be based on borrowing in the Euro$ market and lending in the SFr market. The steps are as as follows. -

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Convert $1000000 to SFr at the spot rate to get SFr 1662700.

Lend SFr 1662700 for six-months at 3% per year. Will get back

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Sell SFr 1687641 six months forward. The transaction will be contracted as of the current date but delivery and settlement will only take place six months later. So, sixmonths later exchange

SFr 1,687,641 for => SFr 1687641 ⁄ SFr 1.6558/$ => $1,019,230.

The arbitrage profit six months later is 1019230 - 1017500 = $1,730

6 0
3 years ago
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