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answer pls You are a lending manager at Everyday Bank. The following scenario is presented to you to com a FULL. C analysis, with existing
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You are a lending manager at Everyday Bank. The following scenario is presented to you to com a FULL. "C" analysis, with existing and proposed TDSR calculations. Present your findings followin C's and then make a recommendation to Approve or Decline the Bennett's request. Provide a det. rationale of your decision, and show AlL of your calculations. Additional instructions: Use 5% of a credit card Imit/ and 3% of PLOC limit when calculating T Approval thesholdis 4000 o Jack \& Diane Bennett want to buy a new Toyota RAV4 to haul their 2 kids aged 10&11 around town to a of their extra curricular activities. The new vehicle will replace their existing 2017 Toyota RAV 4 which will be traded in. The new RAV4 purchase price is $44,036.70, then with HST the vehicle purchase is $49,761.47. The Bennett's do not have a down payment and are requesting Everyday Bank to finance the entire amount; the b weekly loan payments are $347.00 for 84 months. Jack is 32 and has been working for a software security firm for 5 years. He earns $7000.00 per month. Diane is 30 and has been a registered nurse for 7 years currently earning a gross biweekly salary of $2884.00; her net take home pay is $2158.00. The Bennett's have been renting their current residence for 5 years paying 2000.00 per month and are hoping to use their RRSPs to purchase their first house in the next 2 years. The following information has been submitted by the customers online, and the information is "as declared" by the customer. Credit Bureau Report Summary Name: Diane Bennett Age: 30 Address: 4112 Yonge St. Toronto, Ontario; M2P 3B8 Employer: Markham Stouffville Hospital MSH Employment position: RN Registered Nurse Collection activities: nil Description: Lender: Amount: Recent inquiries: Toyota Financing Collection activities: Description: Lender: Amount Recent inquiries: Toyota Financing You are a lending manager at Everyday Bank. The following scenario is presented to you to com a FULL. "C" analysis, with existing and proposed TDSR calculations. Present your findings followin C's and then make a recommendation to Approve or Decline the Bennett's request. Provide a det. rationale of your decision, and show AlL of your calculations. Additional instructions: Use 5% of a credit card Imit/ and 3% of PLOC limit when calculating T Approval thesholdis 4000 o Jack \& Diane Bennett want to buy a new Toyota RAV4 to haul their 2 kids aged 10&11 around town to a of their extra curricular activities. The new vehicle will replace their existing 2017 Toyota RAV 4 which will be traded in. The new RAV4 purchase price is $44,036.70, then with HST the vehicle purchase is $49,761.47. The Bennett's do not have a down payment and are requesting Everyday Bank to finance the entire amount; the b weekly loan payments are $347.00 for 84 months. Jack is 32 and has been working for a software security firm for 5 years. He earns $7000.00 per month. Diane is 30 and has been a registered nurse for 7 years currently earning a gross biweekly salary of $2884.00; her net take home pay is $2158.00. The Bennett's have been renting their current residence for 5 years paying 2000.00 per month and are hoping to use their RRSPs to purchase their first house in the next 2 years. The following information has been submitted by the customers online, and the information is "as declared" by the customer. Credit Bureau Report Summary Name: Diane Bennett Age: 30 Address: 4112 Yonge St. Toronto, Ontario; M2P 3B8 Employer: Markham Stouffville Hospital MSH Employment position: RN Registered Nurse Collection activities: nil Description: Lender: Amount: Recent inquiries: Toyota Financing Collection activities: Description: Lender: Amount Recent inquiries: Toyota Financing Step by Step Solution
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