Data Analytics For Accounting
19th Edition
ISBN: 9781260375190
Author: RICHARDSON, Vernon J., Teeter, Ryan, Terrell, Katie
Publisher: Mcgraw-hill Education,
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Chapter 1, Problem 3P
To determine
Do an Excel PivotTable according to state and check the number of rejected applications for State A. Identify relative proportion among number of rejected loans and population of State A as compared to the overall population of U.S.
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Chapter 1 Solutions
Data Analytics For Accounting
Ch. 1 - Prob. 1MCQCh. 1 - Prob. 2MCQCh. 1 - Prob. 3MCQCh. 1 - Prob. 4MCQCh. 1 - Prob. 5MCQCh. 1 - Prob. 6MCQCh. 1 - Prob. 7MCQCh. 1 - Prob. 8MCQCh. 1 - Prob. 9MCQCh. 1 - Prob. 10MCQ
Ch. 1 - Prob. 1DQCh. 1 - Give an example of how Data Analytics creates...Ch. 1 - Prob. 3DQCh. 1 - Prob. 4DQCh. 1 - Prob. 5DQCh. 1 - Prob. 6DQCh. 1 - Prob. 7DQCh. 1 - Prob. 8DQCh. 1 - Prob. 9DQCh. 1 - Prob. 10DQCh. 1 - Prob. 11DQCh. 1 - Prob. 12DQCh. 1 - To address the question Will I receive a loan from...Ch. 1 - Download and consider the data dictionary file...Ch. 1 - Download and consider the rejected loans dataset...Ch. 1 - Prob. 3PCh. 1 - Prob. 4PCh. 1 - Consider the 2013 declined loan data from...Ch. 1 - Consider the 2013 declined loan data from...
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- When financial institutions, such as banks or credit unions, advertise the rates on their loans, they often report the APR. If you wanted to compare the interest rates on loans from different financial institutions, should you compare the APRs? Explain.arrow_forwardWhich of the following is not a way in which banks lend short-term unsecured loans? a. Through a guaranteed credit line that has a commitment fee for any unused amount for the year b. Through credits cards lines with a certain credit limit c. By sending the amount earned from trust and investment products offered by the bank d. By lending a single date maturity loan to a debtorarrow_forwardWhat is true regarding subsidized and unsubsidized loans? Both types of loans require students to show proof of financial hardship to qualify and apply. Both types of loans share the same interest rate for students at the undergraduate level. Both types of loans start accruing interest after students graduate. Both types of loans are available to students who are in graduate school. Both types of loans have the same maximum amount (loan limit cap) that can be borrowed for a given year.arrow_forward
- More than 40 million Americans are estimated to have at least one outstanding student loan to help pay college expenses (40 Million Americans Now Have Student Loan Debt, CNNMoney, September 2014). Not all of these graduates pay back their debt in satisfactory fashion. Suppose that the following joint probability table shows the probabilities of student loan status and whether or not the student had received a college degree. a. What is the probability that a student with a student loan had received a college degree? b. What is the probability that a student with a student loan had not received a college degree? c. Given that the student has received a college degree, what is the probability that the student has a delinquent loan? d. Given that the student has not received a college degree, what is the probability that the student has a delinquent loan? e. What is the impact of dropping out of college without a degree for students who have a student loan?arrow_forwardOmani Government has recently introduced 5% VAT on most goods and services. Assuming that Oman has an independent monetary policy, how will VAT influence the interest rates in Oman? (Specify the direction of the interest rate in your answer). answer briefly on not more than 5 lines.arrow_forwardCumberland Furniture wishes to establish a prearranged borrowing agreement with its local commercial bank. The bank’s terms for a line of credit are 3.30% over the prime rate, and each year the borrowing must be reduced to zero for a 30-day period. For an equivalentrevolving credit agreement, the rate is 2.80% over prime with a commitment feeof 0.50% on the average unused balance. With both loans, the required compensating balance is equal to 20% of the amount borrowed. The prime rate is currently 8%. Both agreements have $4 million borrowing limits. The firm expects on average to borrow $2 million during the year no matter which loan agreement it decides to use. What is the effective annual rate under the line of credit? b. What is the effective annual rate under the revolving credit agreement? (Hint: Compute the ratio of the dollars that the firm will pay in interest and commitment fees to the dollars that the firm will effectively have used of.) If the firm does expect to borrow…arrow_forward
- PayDay loans are one form of financing that consumers can use when they have insufficent cash to pay bills. Borrowers often can't access other methods of financing, because of a poor credit score (credit card) or lack of homeownership (home equity loans). States often have laws to limit the amount that PayDay lenders can charge for these short-term loans. For example, the state of Alabama has a law that limits the finance charge or interest rate to 17.55% for a two-week loan of $100. In other words, if you borrow $100, you must pay back $117.55 two weeks later. If you can’t pay it back in two weeks, the PayDay lender will let you borrow what you owe ($117.55 ; principal of $100 and interest of $17.55), again at the rate of 17.55% for a two week loan. You can keep doing this- tacking on interest to principal every two weeks- until you have sufficient funds to payback the loan in full. A. What is the APR of the loan? B. What is the EAR of the loan? C. Suppose…arrow_forwardThe President of ghana launched a COVID-19 business alleviation program in collaboration with national board for small scale industries, trade associations and some selected banks. under the program the government is giving funds without interest to sellected financial institutions for onward lending to businesses at at a 3% interest. The program is aimed at helping beneficiaries to sustain their bunisesses during the pandemic. Use the following information to answer the questions a. explain the monetary policy tool being used b. if the government pegged interest rates at the monetary policy rate will this have been a better way of setting the rate? explain the advantages and disadvantages. c. explain the impact of a low interest rate program on Gross domestic product (GDP), articulating possible pathways.arrow_forwardLook for examples of financial institutions financial instruments and financial markets in the philippines or in your local community list down three examples for each category and provide a brief information about them.arrow_forward
- Identify whether each of the following is a debit or a credit in Mexico’s BOP and indicate where the item would be classified.( Specifically indicate the account and the item as credit or debit) d) Mexico receives $10 million in foreign aid from the United States. e) Mexican citizens deposit $5 million in Citibank account in New York. f) Mexico imports $110 million worth of goods. g) Mexican firms borrow $45 million by issuing bonds in the United States. h) S. firms earn (and repatriate) $5 million in profits from operations in Mexico. h) The Mexican Central bank buys $15 million in U.S. Treasury bills. Suppose that these are all of the entries in Mexico’s BOP table. State if Mexico is net lender or borrower vis- a -vis the rest of the world? Calculate the value of errors and omissions. Thanks.arrow_forwardThe employee credit union at State University is planning the allocation of funds for the coming year. The credit union makes four types of loans to its members. In addition, the credit union invests in risk-free securities to stabilize income. The various revenue-producing investments, together with annual rates of return, are as follows: The credit union will have 2 million available for investment during the coming year. State laws are credit union policies impose the following restrictions on the composition of the loans and investments: Risk-free securities may not exceed 30% of the total funds available for investment. Signature loans may not exceed 10% of the funds invested in all loans (automobile, furniture, other secured, and signature loans). Furniture loans plus other secured loans may not exceed the automobile loans. Other secured loans plus signature loans may not exceed the funds invested in risk-free securities. How should the 2 million be allocated to each of the loan/investment alternatives to maximize total annual return? What is the projected total annual return?arrow_forwardTo ensure that, along with spontaneous financing from accounts payable and accruals, adequate short-term financing will be available, Morton plans to establish an unsecured short-term borrowing arrangement with its local bank, Third National. The bank has offered either a line-of-credit agreement or a revolving credit agreement. Third National's terms for a line of credit are an interest rate of 2.50% above the prime rate, and the borrowing must be reduced to zero for a 30-day period during the year. On an equivalent revolving credit agreement, the interest rate would be 3% above prime with a commitment fee of 0.50% on the average unused balance. Under both loans, a compensating balance equal to 20% of the amount borrowed would be required. The prime rate is currently 7%. Both the line-of-credit agreement and the revolving credit agreement would have borrowing limits of $1,000,000. For purposes of his analysis, Morton estimates that Kanton will borrow $600,000 on the average during the…arrow_forward
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