Delinquencies are reported when the loan is 30 or more days past due to the credit bureau. When the borrower is 90 or more days past due is stated to be a serious delinquency.
<u>Explanation:</u>
Delinquency is a situation in which the loan borrower fails to pay the loan or makes an overdue on the periodical payment.
<u>Delinquency rate:</u>
The percentage of loans within the loan portfolio of a financial institution whose payments are delinquent. The formula to calculate the delinquency rate is as follows,
<u>Average days delinquent:</u>
This is calculated by subtracting the days sales outstanding (DSO) from best Possible DSO which is represented as
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Answer:
The correct answer is letter "A": voidable.
Explanation:
Voidable contracts are those that cannot be enforced because one or the two parties involved are not legally eligible to go on in such an agreement. Reasons to void a contract include but are not limited to failure to disclose material facts, legal incapacity to enter a contract or inconsistent contractual terms.
Thus, <em>Bob's contract to purchase a car is voidable since he is legally incapable of signing agreements due to his age (17 years old).</em>
Answer:
lack of parental care and training
Hope that helps!
Answer:
The money multiplier and money supply for this banking system is 10 and $1,000 billion respectively
Explanation:
The computation of the money multiplier and the money supply is shown below:
As we know that
Money multiplier is
= 1 ÷ required reserve ratio
= 1 ÷ 0.10
= 10
So, the money supply is
= Total Reserves × Money Multiplier
= $100 billion × 10
= $1,000 billion
hence, the money multiplier and money supply for this banking system is 10 and $1,000 billion respectively
Answer:
sorry i dont know i was trying but cant figure it out
Explanation:
