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u serious i post it 2 times . At 19, in the middle of her second aroudesta city college in Atlanta, Shetas down here were
u serious i post it 2 times
. At 19, in the middle of her second aroudesta city college in Atlanta, Shetas down here were 3.75 grade pont averson, Kolves at home and works partes in derk for a nearby technical pay for more way on her own as far as colege goes, Katies to trust to the Unwety eyal (She has been the ble to hold down part time job and manage to come her bachelor's degree program at your own that one day, she wire.com trust fund let her by her grandmother areas deaded to borrowing the trust fund to other the years. The states that thered 26.000 and board, books and supplies, travel personal expenditures, and so on during that person for any loan programs, Kate has found to be one o each require any were the trust proconds as colateral. The terms tegured by each poder resowe Georgia State Bank will end 528,000 percent discount. The loan pucal would be on the years 1. National Bank of Atlanta wild 120,000 under a year not. The note would any per ample este und would be they 1. How much would receive in woulon proces under the Costellonkan Round the swer to the art de How much would be mored to repay at maturity under the George State Bank loan Round the answer to the carte 5 2. Compute the finance charges on the offered by George State Bank Bank Hundred $ Compote the APR on the loan offered by George State Bank Bank Round the team 3. Compute the face charge on the loan offered by the National Bank of Atlanta Round the answer to the nearesto b. Compute the AP on the loan offered by the National Bank of Atlanta Hound the answer to 2 decoce How big a loan payment would be due of the end of 2 years? 4. Compare your findings in Questions 2 and 3, and recommend one of the loans to Katie. National Bank of Atlanta Explain your recommendation. The input in the box below will not be graded, but may be reviewed and considered by your instructor 5. What other recommendations might you offer Katie regarding disposition of the loan proceeds? The input in the box below will not be graded, but may be reviewed and considered by your instructor At age 19, Katie Hicks is in the middle of her second year of studies at a community college in Atlanta. She has done wel in her course work, majoring in pre business studies she corrente 3.75 grade point average. Katie ives at home and works part-time as a fling derk for a nearby electronics distributor Her parents can't afford to pay any of her tution and college express she's virtually on her own as far as colege goes, Katie plans to transfer to the University of Georgia next yeat (She has already been ecopted) After taking with her counselo Kate feels she won't be able to hold down a part-time job and soll manage to complete her bachelor's degree program at UGA n 2 years on that on her 22nd birthday, the wrecove aromately 5,000 m trust fund left her by her grandinother; Katie has decided to borrow aganst the trust fund to support here the next 2 year. The states that she'll need 5.26,000 to cover room and board, books and supplies, travel, personal expenditures, and so on during that period. Unable to qually for any special programs, Kate has found two sources and permet nach requiring a security interest in the trust proceeds as collateral. The terms required by each potential and are as follow a. Georgia State Bank willend $20,000 at percent discount interest. The loan propol would be due the end of years 5. Mational Bank of Arlonta wa lend 526,000 under a 2-year note. The note would cry 5 percent smide merest rate and would also be due na ungepynent at the end of 2 1. How much would Kate receive an initial loan proceeds under the Georgia State Bank loan? Aband the answer to the heart out $ b. How much would be required to repay statunity under the George State Bank dan Round the answer to the rest do $ 2. Compute the finance charges on the loan offered by George State Bank Bank Bound the awer to the nearest dotar Compute the APR on the loan offered by Georgette Bank Bank Found the answer to deamles 3. a. Compute the finance charges on the loan offered by the National Bank of Atlanta. Round the answer to the nearest dolar $ b. Compute the APR on the loan offered by the National Bank of Atlanta. Round the answer to 2 decimal places. % c. How big a loan payment would be due at the end of 2 years? $ 4. Compare your findings in Questions 2 and 3, and recommend one of the loans to Katie, National Bank of Atlanta v Explain your recommendation The input in the box below will not be graded, but may be reviewed and considered by your instructor 5. What other recommendations might you offer Katie regarding disposition of the loan proceeds? The input in the box below will not be graded, but may be reviewed and considered by your instructor Step by Step Solution
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