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- Imagine that Mr John takes out a loan for £10,000 to start a new business. The bank credits the £10,000 to MrJohn's current account. Choose AT LEAST ONE correct answer.a. Since Mr John has been credited with the £10,000 in his current account, yet he now owes the bank£10,000, the total amount of money in the economy has remained the same.b. The extra £10,000 in Mr John's current account is an asset for the bank, because this is money that he owesto them. c. The loan is an asset for the bank. d. At the point that the loan is made, the bank's net worth decreases and Mr John's net worth increases bythe same amount, £10,000.A firm is insuring a house with an actual cash value of $200,000. They have insured this house for $185,000. How much would they receive from an insurer if a coinsurance clause is in place at the typical required rate and the loss is $175,000? How would the answer change if the house was insured for $150,000?Sarah and Gabe are considering the following transactions and have asked you to explain the impact of the transactions on their Statement of Financial Position: Purchase a baseball card collection from Gabe’s uncle for $5,000 cash. Gabe feels the cards are worth more than $5,000. There has never been an official appraisal of the collection. Secure a home-equity loan of $25,000 to have on hand for various projects and possibly to take a family vacation abroad. Trade the pick-up for an SUV at a cost of $40,000. They will use their pick-up truck as a trade-in as a down payment, the current value is estimated at $7,000, and borrow the balance at a projected rate of 5%. Also, they anticipate their respective 401(k) accounts increasing in value by 15% this year and have asked if this will have any impact on their financial statements. please explain properly thnku
- I need help for D, E, and G please You are a loan officer at the West Elm Savings and Loan. Mr. and Mrs. Brady are in your office to apply for a mortgage loan on a house they want to buy. The house has a market value of $170,000. Your bank requires 1/5 of the market value as a down payment. (a) What is the amount (in $) of the down payment? $ (b) What is the amount (in $) of the mortgage for which the Bradys are applying? $ (c) Your bank offers the Bradys a 30 year mortgage with a rate of 5%. At that rate, the monthly payments for principal and interest on the loan will be $5.37 for every $1,000 financed. What is the amount (in $) of the principal and interest portion of the Bradys' monthly payment? $ (d) What is the total amount (in $) of interest that will be paid over the life of the loan? $ (e) Your bank also requires that the monthly mortgage payments include property tax and homeowners insurance payments. If the property tax is $1,710 per…Albert, the managing director of Albert's Vehicle Parts, guaranteed a bank loan of $750,00 for Josh his employee. Josh left the Island unexpectedly owing the bank $150,000 which Albert had to pa Discuss whether Albert can claim this as an allowable deduction fro the accounts of Albert's Vehicle Parts? Would your answer be differen Albert's Vehicle Parts had lent Josh the money and had forgiven Josh the debt before he left?You are finalizing a bank loan for $180,000 for your small business and the closing fees payable to the bank are 1.7% of the loan. After paying the fees, what will be the net amount of funds from the loan available to your business?
- Engr. De Robles borrowed Php 10,000 from a bank and promised to pay the amount for 1 year. But he received Php 9,600 only after the bank deducted an advance interest of Php 400. Find a) the rate of discount and b) the rate of interest that the bank charged him. show your solutionRaj Turner is a loan officer in a small community bank. One of his more affluent customers has submitted a loan application for $25,000 to buy a valuable oil painting. The loan will be secured by the painting. To his knowledge, this is the first time a customer has asked to use art as collateral. His bank does not have experience in valuing art, and he wonders whether its use as collateral is consistent with bank loan policy. What steps should Raj take to determine whether this loan should be made?Lucy buys a $4,000 piano (transaction 4). The purchase is funded by a $1,200 bank loan (transaction 1), the redemption of a $2,600 term deposit (transaction 2) and the sale of $200 worth of corporate bonds (transaction 3), which were bought in the past for $250. The piano is an asset _ Type Y if true, N if incorrect. The term deposit is an asset _ Type Y if true, N if incorrect. The loan is an asset _ Type Y if true, N if incorrect. In net, the balance sheet size changes by _ Type a sign + or - followed by one number with no dollar sign. Type 0 (the number zero) if there is no change. The stock of bonds changes by _ Type a sign + or - followed by one number with no dollar sign. Type 0 (the number zero) if there is no change. The income from the sale of the bonds is _ Type a sign + or - followed by one number with no dollar sign. Type 0 (the number zero) if there is no change. In net, the deposits change by _ Type a sign + or - followed by one number with no dollar sign. Type…
- PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS (That the answer not be written, please!!) 5.- Calculate the interest rate applied. Strange things happen to Rodrigo Salguero. Now in the recent rains, he left his car window open and the receipt for the investment he had just made got wet. But you can help him. What is the simple annual interest rate earned by that bank investment in which Rodrigo invested $386,500 and obtained $560,425 at the end of four years, without capitalization of interest (i.e., at simple interest)? Note:In the image, this is the original exercise, it is in Spanish, but it is easy to understand. Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel. TO CONSIDER THE YEAR AS 360 DAYS (WHICH IS COMMERCIAL)ESSAY ONLY: Mr. Aldrin Pereda and family however, only has a total of P130,000.00 in the bank. If you are the financial consultant of the Pereda family, which financing option will you suggest that Mr. Pereda choose and why?John invests office equipment with a fair market value of $63,000, manufacturing equipment with a fair market value of $76,000, and cash of $31,000. He owes $28,000, represented by a note on the manufacturing equipment. The amount of John's capital would be a. $170,000 b. $142,000. c. $31,000. d. None of these choices are correct.
