Bank deploys a deposit of $1,005,000.00 for 1 year at 4.5% (floating rate) in a car...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Bank deploys a deposit of $1,005,000.00 for 1 year at 4.5% (floating rate) in a car loan for $1,000,000.00, with repayment of 4 years and interest 9.17% fixed rate. Calculate the net interest income. A The net interest increased income is $47,159. B The net interest increased income is $47,168. C The net interest increased income is $47,145. D The net interest increased income is $47,149. Bank deploys a deposit of $1,005,000.00 for 1 year at 4.5% (floating rate) in a car loan for $1,000,000.00, with repayment of 4 years and interest 9.17% fixed rate. Calculate the net interest income. A The net interest increased income is $47,159. B The net interest increased income is $47,168. C The net interest increased income is $47,145. D The net interest increased income is $47,149.
Expert Answer:
Related Book For
Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver
Posted Date:
Students also viewed these accounting questions
-
A deposit of 1 is made at the end of each year for 30 years into a bank account that pays interest at the end of each year at j per annum. Each interest payment is reinvested to earn an annual...
-
A bank offers a $25,000 loan at an interest rate of 7.7% that can be paid back over 2 to 10 years. a. Write the monthly payment formula for this loan situation. Let t represent the number of years...
-
The repayment plan for a loan with an interest rate of 5.0% totaling 20,500 now is to fully pay off the loan in 11 years using end of year payments beginning at 1300 and increasing by the same amount...
-
Briefly explain your answers Fig.1 1. Assuming the monopoly pictured above is a profit maximizing monopoly, what price will the monopoly charge for its output? 2. The profit maximizing monopoly will...
-
Multiple Choice Questions The following questions deal with internal controls in the sales and collection cycle. Choose the best response. a. The accounting system will not post a sales transaction...
-
A tool manufacturing company claims that its top-of-the-line machine that is used to manufacture bolts produces an average of 88 or more bolts per hour. A company that is interested in buying this...
-
Continuation of P10-29A: cash budgets} Refer to P10-29A. Vinning Office Supply's sales are \(70 \%\) cash and \(30 \%\) credit (use the rounded sales on the last line of \(\mathrm{P} 10-29...
-
1. What type of arrangement is Edgar using in his business dealings with the European firms? Be complete in your answer. 2. Is the Japanese business proposal a joint venture? Why or why not? Would...
-
Sharkey s Fun Center contains a number of electronic games as well as a miniature golf course and various rides located outside the building. Paul Sharkey, the owner, would like to construct a water...
-
Read and answer the question below. EMBRACE DEMOGRAPHICS AND SOCIETAL CHANGES Using Differences to Drive Value Force 7: Demographics and Societal Changes. One of the most important forces that is...
-
HIII 1. Bilbo Baggins wants to save money to meet three objectives. First, he would like to be able to retire 30 years from now with a retirement income of $24,500 per month for 20 years, with the...
-
How can the audit program be used to summarize audit work performed?
-
What kind of background in data processing do you think an internal auditor should have?
-
In many cases the objectives of management and the computer specialist vary. Explain.
-
What are the different ways a deposition summary may be prepared?
-
How should insignificant deficiencies be reported?
-
CPI or SPI value less than one indicates that the project is currently Multiple Choice on cost or on schedule. over cost or ahead of schedule. over cost or behind schedule. under cost or ahead of sche
-
A copper wire (density = 8.96 g/cm 3 ) has a diameter of 0.25 mm. If a sample of this copper wire has a mass of 22 g, how long is the wire?
-
Arrange the following interest rates in ascending order: 3.4%, 3.039%, 3 3/16%, 3.499%, 3 1/2%
-
Use a table of increasing values of x to find each of the following limits. If no limit exists, say the limit is undefined. a. b. c. 9x-1 lim f(x) if f(x) = 3x - 5 lim g(x) ifg(x) = 3rth 4x +1 lim...
-
Life insurance companies take risks much like arcade game owners take risks. Mollie has a booth on a popular beach boardwalk. She charges $2 per game. Winners receive a $5 prize. The probability of...
-
This information is for OBrien Corporation for the year ended December 31, 2012. Instructions (a) Prepare the 2012 statement of cash flows for OBrien Corporation. (b) Suppose you are one of OBriens...
-
The following data are derived from the 2009 financial statements of Southwest Airlines. All dollars are in millions. Southwest has a December 31 year-end. Instructions (a) After analyzing the data,...
-
Gabelli Corporation was formed on January 1, 2012. At December 31, 2012, John Paulus, the president and sole stockholder, decided to prepare a balance sheet, which appeared as follows John willingly...
Study smarter with the SolutionInn App