An Industrial Loan Corporation (ILC) is a type of? A- finance company. B- thrift institution. C-...
An Industrial Loan Corporation (ILC) is a type of?
A- finance company.
B- thrift institution.
C- credit card bank.
D- nonbank bank.
Homework Answers
Optin A is correct. finance company.
These companies accept customer deposits and provide loans for consumers and small businesses. These are financial Institution in United States. These are typiclly owned by commercial firms.
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An Industrial Loan Corporation (ILC) is a type
of?
A- finance company.
B- thrift institution.
C-...
For the finance company industry as a whole, the largest single loan type is Multiple Choice...
For the finance company industry as a whole, the largest single loan type is Multiple Choice business loans. consumer loans. real estate loans. high-risk consumer loans. credit card loans.
Sally deposits her money in a financial institution that guarantees her an interest rate. The institution...
Sally deposits her money in a financial institution that guarantees her an interest rate. The institution then loans her money to Mark who does not have an account with the institution. What type of institution did Morris deposit his money in? Select one: a. A Mutual Fund Family (Investment Management Company) b. Federal Reserve System c. A Commercial Bank d. A Credit Union e. An Investment Bank
Mia has $2800 in assets, a finance company loan for $561, and an outstanding credit card...
Mia has $2800 in assets, a finance company loan for $561, and an outstanding credit card balance of $138. Mia's monthly cash inflows are $1403, and she has monthly expenses of $1184. What is Mia's net worth?
A borrower has a $90000 loan with the "Easy-Credit" Finance Company. The loan is to be...
A borrower has a $90000 loan with the "Easy-Credit" Finance Company. The loan is to be repaid over 12 years via monthly payments at 7.4%/year compounded monthly. Just after the 36th payment, the borrower learns that his local bank would lend him money at 5.4%/year compounded monthly. Assuming that the contract stipulates an early repayment penalty equal to 3 months' interest on the outstanding balance at the time of refinancing, what would be the new monthly payment?
Exercises #11 1. Xtra Corporation needs $50,000 for three months to finance its working capital. The company has arranged a short-term loan with a bank. The bank charges 8% annual interest rate wi...
Exercises #11 1. Xtra Corporation needs $50,000 for three months to finance its working capital. The company has arranged a short-term loan with a bank. The bank charges 8% annual interest rate with interest paid in advance. The bank also requires 5% of the borrowed amount as a compensating balance. Assume Xtra does not have money to serve as a compensating balance and pay interest upfront 1.1 How much Xtra have to borrow? 1.2 Find effective cost of bank loan...
3) The company borrowed $20,000 to finance its business operation. The loan is due on December...
3) The company borrowed $20,000 to finance its business operation. The loan is due on December 31. Required: Calculate the interest and principle the company would have to pay the bank on December 31 under each of the following assumptions: a) The loan is at 12%, borrowed on January 2 of the same year. b) The loan is at 10%, borrowed on January 2 of the same year. c) The loan is at 12%, borrowed on April 1 of the...
8. Your company has received a $50,000 loan from an industrial finance company. The annual payments...
8. Your company has received a $50,000 loan from an industrial finance company. The annual payments are $6,202.70. If the company is paying 9 percent interest per year, how many loan payments must the company make? Round to the nearest number of periods. 9. You are ready to retire. A glance at your 401(k) statement indicates that you have $2,750,000. If the funds remain in an account earning 4.5% annually, how much could you withdraw at the end of each...
Mia has $3 comma 0003,000 in assets, a finance company loan for $500500, and an outstanding...
Mia has $3 comma 0003,000 in assets, a finance company loan for $500500, and an outstanding credit card balance of $135135. Mia's monthly cash inflows are $2 comma 0002,000, and she has monthly expenses of $1 comma 6501,650. What is Mia's net worth? Mia's net worth is $nothing.
Estimating Net Worth. Mia has $2 comma 3702,370 in assets, a finance company loan for $428428,...
Estimating Net Worth. Mia has $2 comma 3702,370 in assets, a finance company loan for $428428, and an outstanding credit card balance of $183183. Mia's monthly cash inflows are $1 comma 6301,630, and she has monthly expenses of $1 comma 4041,404. What is Mia's net worth? Mia's net worth is $nothing. (Round to the nearest dollar.)
16. estrictions and penalties can affect an account's (A) earnings. (B) ownership. (C) frequency of interest...
16. estrictions and penalties can affect an account's (A) earnings. (B) ownership. (C) frequency of interest compounding. (D) interest rate. What is a certificate of debt issued by a corporation or government? (A) stock (B) bond (C) mutual fund (D) dividend 18.Which type of bank is commonly known as a full-service bank? (A) savings (A) savings and loan association (S& L) (B) Internetbank (C) mutual savings bank (D) commercial bank 19.Which type of retirement plan is sometimes called a pension...
Exercises #11 1. Xtra Corporation needs $50,000 for three months to finance its working capital. The company has arranged a short-term loan with a bank. The bank charges 8% annual interest rate with interest paid in advance. The bank also requires 5% of the borrowed amount as a compensating balance. Assume Xtra does not have money to serve as a compensating balance and pay interest upfront 1.1 How much Xtra have to borrow? 1.2 Find effective cost of bank loan...
8. Your company has received a $50,000 loan from an industrial finance company. The annual payments are $6,202.70. If the company is paying 9 percent interest per year, how many loan payments must the company make? Round to the nearest number of periods. 9. You are ready to retire. A glance at your 401(k) statement indicates that you have $2,750,000. If the funds remain in an account earning 4.5% annually, how much could you withdraw at the end of each...
16. estrictions and penalties can affect an account's (A) earnings. (B) ownership. (C) frequency of interest compounding. (D) interest rate. What is a certificate of debt issued by a corporation or government? (A) stock (B) bond (C) mutual fund (D) dividend 18.Which type of bank is commonly known as a full-service bank? (A) savings (A) savings and loan association (S& L) (B) Internetbank (C) mutual savings bank (D) commercial bank 19.Which type of retirement plan is sometimes called a pension...
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