1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Julli [10]
3 years ago
10

Suppose you work for a bank and are responsible for determining whether you should give someone credit. Create a list of the top

three questions you would
ask prospective borrowers and post them to the discussion board. Make sure to explain why you think these three questions are important in determining
whether or not a potential customer is a good credit risk.
Business
1 answer:
siniylev [52]3 years ago
7 0

Answer:

-How much money do you need?

-How much income do you make?

-How much debt do you have?

Explanation:

The top three questions that I would  ask prospective borrowers are:

-How much money do you need?

This question allows the lender to know the amount of money the borrower requires and this is crucial to make an evaluation with the income and debts to determine if the lender would approve the loan. For example, a borrower may need an amount that he can easily pay back with his salary.

-How much income do you make?

This question is important to the lender because it allows to find out if the borrower's income would allow him/her to make the monthly payments which decreases the risk.

-How much debt do you have?

It is important to know the amount of debt the borrower has because the higher amount of debt he/she has, it would be harder to pay the loan and evaluating this allows to decrease the risk of the borrower not paying back.

You might be interested in
A person is planning to open a savings account with the intent to buy a house in 5 years. They will invest an equal amount each
lisov135 [29]

Answer:

The correct answer is C: $4300

Explanation:

Giving the following information:

They will invest an equal amount each month for 5 years.

This account will earn 6% per year(0.5% per month)and will have $300,000 at the end of the 5-year term

We need to use the following formula:

final value= {A[(1+i)^n-1]}/r

A= cuota

i= monthly interest

n= 60 months

Isolating A:

A= (FV*i)/[(1+i)^n-1]

A= (300000*0.005)/[(1.005^60)-1]

A= 1500/0.34885= 4300

3 0
3 years ago
Becky hunter is an accountant employed by faf enterprises. recently she has spent much of her time working on defining measures
boyakko [2]
<span>Becky is a private accountant whose work is mainly with managerial accounting. Managerial accounting is a process o identifying, measuring, analyzing, interpreting, and communicating information in order to achieve the goals of an organization. Another name for managerial accounting is cost accounting.</span>
7 0
3 years ago
When using the needs approach, several "special needs" should be considered. One special need is money to cover unexpected event
12345 [234]

Answer:

Emergency fund.

Explanation:

Emergency funds are money that we keep on hand in case of unforeseen events. It may cover car repairs, unforeseen buying, medical bills and so on.

It is important to hold some emergency funds so as to avoid being stranded with no access touch needed resources.

Also emergency funds can be saved over time in case of job loss, having some back-up funds to use in the meantime will be a wise strategy.

3 0
2 years ago
2. If the government decided to subsidize the production of a good, the result would be a decrease in the equilibrium price and
kogti [31]

Answer: True

Explanation:

The subsidy will increase the supply of the good, and therefore the supply curve will shift to the right. Then its intersection with the demand curve will be located at a lower price and with a larger quantity.

5 0
3 years ago
On January 1, Gucci Brothers Inc. started the year with a $690,000 balance in Retained Earnings and a $597,000 balance in common
Yuri [45]

Answer:

$1,388,200

Explanation:

The total stock holders equity as at the end of the year shall be determined as follows:

                                 Common stock   Retained Earnings      Total

Balance of Jan 1       $597,000           $690,000                $1,287,000

Net income for year                             $96,000                  $96,000

Dividend paid                                       ($14,800)                  ($14,800)

Common stock         $20,000                                               $20,000

Balance at year end  $617,000           $771,200                  $1,388,200

7 0
2 years ago
Read 2 more answers
Other questions:
  • Elm City​ Market's board of directors made a decision to structure the organization much differently than a bureaucracy. What th
    5·1 answer
  • Skoff Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished
    10·1 answer
  • Destiny Corporation is preparing its statement of cash flows by the indirect method. Destiny has the following items for you to
    11·1 answer
  • The maximum amount of a product that sellers are willing and able to provide for sale over a relevant range of prices, holding a
    15·1 answer
  • U.S. car dealers sell both used cars and new cars each year. However, only the sales of the new cars count toward GDP. Why does
    15·1 answer
  • In the company's accounting system all fixed expenses of the company are fully allocated to products. Further investigation has
    9·1 answer
  • Assume that the interest rate is 4% compounded monthly. Roy buys 100 shares of Moogle company, at the market price of $30 per sh
    9·1 answer
  • Liam was the beneficiary of a life insurance policy on his wife. Liam had paid $20,000 in premiums on the policy. Be collected $
    14·1 answer
  • Ouzts Corporation is considering Alternative A and Alternative B. Costs associated with the alternatives are listed below: Alter
    9·1 answer
  • Pacific Ink had beginning work-in-process inventory of $959,660 on October 1. Of this amount, $402,560 was the cost of direct ma
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!