1) Toyota Financial Services Canada will give you a loan to buy a car (if you qualify for financing.) A bank will give y...
1) Toyota Financial Services Canada will give you a loan to buy a car (if you qualify for financing.) A bank will give you a loan for a car (or a number of other purchases) if you qualify. Does that mean that Toyota Financial Services Canada is a bank? Explain.
2)Many college campuses use student ID cards as a way for students to pay for on-campus expenses, such as books, photocopies, and food. For convenience, some students will maintain a balance on their ID cards. Are these balances on student ID cards money? Analysis problems.
Homework Answers
1) As per the definition of a bank , it is a financial institution that has a license to receive deposits and also to make loans . Primarily a bank accepts deposits from the public for the purpose of lending or investment but the deposits are repayable on demand or can be withdrawn by cheques or other means . A bank also provides other financial services like asset management etc . So by just providing car loans Toyota Financial Services does not qualify as a bank .
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1) Toyota Financial Services Canada will give you a loan to buy a car (if you qualify for financing.) A bank will give y...
Many college campuses use student ID cards as a way for students to pay for on-campus...
Many college campuses use student ID cards as a way for students to pay for on-campus expenses, such as books, photocopies, and food. For convenience, some students will maintain a balance on their ID cards. Are these balances a means of payment? Are they a store of value? Explain why or why not.
1) Loan amortization and EAR You want to buy a car, and a local bank will...
1) Loan amortization and EAR You want to buy a car, and a local bank will lend you $10,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 11% with interest paid monthly. What will be the monthly loan payment? Round your answer to the nearest cent. $ What will be the loan's EAR? Round your answer to two decimal places. % 2) Effective rate of interest Find the interest rates...
You want to buy a car, and a local bank will lend you $20,000. The loan...
You want to buy a car, and a local bank will lend you $20,000. The loan would be fully amortized over 6 years (72 months), and the nominal interest rate would be 6%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. What is the loan's EFF%? Do not round intermediate calculations. Round your answer to two decimal places. Present Value of an Annuity Find the present...
You want to buy a car, and a local bank will lend you $25,000. The loan...
You want to buy a car, and a local bank will lend you $25,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 4% with interest paid monthly a. What will be the monthly loan payment? Round your answer to the nearest cent. b. What will be the loan's EAR? Round your answer to two decimal places. Finding the required interest rate Your parents will retire in 23 years. They currently...
a. Provide two examples of actions you have taken (or will take in the future) to...
a. Provide two examples of actions you have taken (or will take
in the future) to build good credit, and link each example to one
of the steps to building good credit provided in the text. -->
(If you paid your bills on time, carried only a reasonable amount
of debt, didn’t max out your credit cards, had a history of
borrowing, hadn’t applied for a bunch of new loans, and borrowed
from a mix of lenders, you’d be in...
with the given financial information, would you give Chipotle a loan for $650 million? Why or...
with the given financial information, would you give Chipotle
a loan for $650 million? Why or why not?
CHIPOTLE MEXICAN GRILL, INC. CONSOLIDATED STATEMENT OF INCOME (in thousands, except per share data) Year ended December 31, 2018 2017 2016 $4,864,985 $4,476,412 $3,904,384 Revenue Restaurant operating costs (exclusive of depreciation and amortization shown separately below): Food, beverage and packaging Labor Occupancy Other operating costs General and administrative expenses Depreciation and amortization Pre-opening costs Impairment, closure costs, and asset disposals Total operating...
And there was a buy-sell arrangement which laid out the conditions under which either shareholder could...
And there was a buy-sell arrangement which laid out the
conditions under which either shareholder could buy out the other.
Paul knew that this offer would strengthen his financial
picture…but did he really want a partner?It was going to be a long
night.
read the case study above and answer this question
what would you do if you were Paul with regards to financing,
and why?
ntroductloh Paul McTaggart sat at his desk. Behind him, the computer screen flickered with...
Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as...
Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as a deductible medical expense? A. Cost of long-term care for a developmentally disabled person in a relative’s home. B. Special school for a deaf child to learn lip reading. C. Cost of elevator installed for individual who had heart bypass surgery (in excess of increase in value of individual’s home). D. Cost and care of guide dogs used by a blind person in his...
QUESTION 1 Jennell the car sales rep asks, "What style, size and features are you looking...
QUESTION 1 Jennell the car sales rep asks, "What style, size and features are you looking for?" This is an ____________ Information gathering technique called an open ended question Information gathering technique called a closed ended question an information gathering technique called an objection None of the above 2 points QUESTION 2 Older workers are staying in the workforce longer and some take lower paid service jobs for supplimental income True False 2 points QUESTION 3 Sometimes our service to...
Hi, Kindly assist with my project management assignment below using the attached case study Question 1 Update the project charter for the remainder of the project in response to Adams’ memo (lines 241...
Hi, Kindly assist with my project management assignment below using the attached case study Question 1 Update the project charter for the remainder of the project in response to Adams’ memo (lines 241 through 246). Question 2 Prepare a plan for the remainder of the project in response to Adams’ memo (lines 241 through 246). Your answers to the above will be assessed in terms of the level of communication displayed, the insights and inferences drawn, and your ability to...
Many college campuses use student ID cards as a way for students to pay for on-campus expenses, such as books, photocopies, and food. For convenience, some students will maintain a balance on their ID cards. Are these balances a means of payment? Are they a store of value? Explain why or why not.
You want to buy a car, and a local bank will lend you $25,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 4% with interest paid monthly a. What will be the monthly loan payment? Round your answer to the nearest cent. b. What will be the loan's EAR? Round your answer to two decimal places. Finding the required interest rate Your parents will retire in 23 years. They currently...
a. Provide two examples of actions you have taken (or will take
in the future) to build good credit, and link each example to one
of the steps to building good credit provided in the text. -->
(If you paid your bills on time, carried only a reasonable amount
of debt, didn’t max out your credit cards, had a history of
borrowing, hadn’t applied for a bunch of new loans, and borrowed
from a mix of lenders, you’d be in...
with the given financial information, would you give Chipotle
a loan for $650 million? Why or why not?
CHIPOTLE MEXICAN GRILL, INC. CONSOLIDATED STATEMENT OF INCOME (in thousands, except per share data) Year ended December 31, 2018 2017 2016 $4,864,985 $4,476,412 $3,904,384 Revenue Restaurant operating costs (exclusive of depreciation and amortization shown separately below): Food, beverage and packaging Labor Occupancy Other operating costs General and administrative expenses Depreciation and amortization Pre-opening costs Impairment, closure costs, and asset disposals Total operating...
And there was a buy-sell arrangement which laid out the
conditions under which either shareholder could buy out the other.
Paul knew that this offer would strengthen his financial
picture…but did he really want a partner?It was going to be a long
night.
read the case study above and answer this question
what would you do if you were Paul with regards to financing,
and why?
ntroductloh Paul McTaggart sat at his desk. Behind him, the computer screen flickered with...
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