Question
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
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.
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Financial Algebra advanced algebra with financial applications
Authors: Robert K. Gerver
1st edition
978-1285444857, 128544485X, 978-0357229101, 035722910X, 978-0538449670
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