the bill in full. How much the finance charge is depends on the amount unpaid and the interest rate of the credit card. Also, a credit card bill has late fees if paid late just like any other bill. Annual fees, finance charges, and late fees are the fees that may lead a cardholder into debt, but those fees are not everything a cardholder has to worry about. Credit cards also come with an interest rate. The interest rate of credit cards vary, but it is based on the company providing the card and…
savings account that yields 4% interest compounded monthly. What will be the account balance in 3 years? 3. You deposit $3000 into a savings account that yields 3% compounded continuously. How long will it take for your account to have a balance of $4500? Extensions: You are a financial planner. Your clients, Sally and Roberto Smith, would like to begin saving money with the long term goal of buying a house. They claim to have $7000 saved but it is not in an interest bearing account. 1.…
First, I would need the current interest rate on their savings and investment funds to figure their time value of money. I would need to know the education costs as well as in estimated annual inflation percentage rate. I would also weight the options and research low interest rate student loans versus overextending my finances. Secondly, we know the amount the medical facility costs each month, as well…
In 2008, my life changed forever. The devastation in the real estate market hurled direct consequences into my innocent 14 year old life that I never could have fathomed. I remember my father talking to my mother during dinner and telling her that their portfolio took a really big hit, and that they weren’t very liquid. Our family vacation got cancelled. I recall being particularly mad. Each year one of my siblings was allowed to invite a friend to join us on vacation. This was my year. I had no…
please refer to cell T12 SIMP’s the after tax revenue stream is $72 a month higher, this gives lenders $72 a month more revenue over 10 years to reinvest due to the fact SIMP borrowers monthly payments are composed of $100% principal oppose to 90% interest, in the case of the 30-year model. How do we quantify how much more yield SIMP would receive due to having $72 more dollars each month to reinvest over 10 years? Well one way would be to SIMPly add this amount to our present revenue…
FINANCIAL PLAN 1. Assumptions of the Plan a. Market Size For the Sanglé’s worst-case scenario, the penetration rate would be at 1% each year. Sanglé’s total market size for 2015 is 6, 570, 168 and the target market share for that is 27%. For 2016, the market size is 6, 687, 117 and the target market share for that is 26.6%. For 2017, the market size is 6, 846, 107 and the target market share for that is 25.4%. For the Sanglé’s most-likely scenario, the penetration rate would only be at 2.5%…
Product Risk: A type of mortgage pipeline risk that occurs when a lender has an unusual loan in production or inventory but does not have a sale commitment at a prearranged price. Production is the process of combining various material and immaterial inputs to create an output for consumption or use. The output is a good or service which has value and garners demand. In the production lines of automobiles, the resources needed include raw materials such as steel and glass, machinery and human…
In Economics the cost of something includes funds spent carrying out any action. For consumers and producers costs determine how much one is willing to pay or invest in. This could be based on income or current financial status of the consumer or producers. Cost effects the consumer demand and producer sale outcomes. It can also determine the worth of whatever is being sold in comparison to a substitute. The types of costs that affects consumer and producer investments include fixed costs,…
ce coverage on maintaining minimum monthly balance of Rs 100,000. Salient Features : There is no minimum balance limit for the account. Students up to age of 30 are allowed to open account in this scheme. Bank will provide free of cost insurance to student amounting RS 20,000 per month for 24 months in case of natural death and permanent total disability of parents and guardian (one person whose name has been reported ) . In case of accident ,the amount will be doubled for 24 months. BOP…
choosing a piggyback loan: Higher interest rates, fees or large balloon payments, restrictions on home equity loans, and no way to drop your payment by getting rid of PMI. First, a piggyback loan always carries a higher interest rate than a standard fixed rater mortgage. The lenders are assuming a little more risk therefore they charge higher interest rates. Sometimes the lender of the 80% will offer very competitive rates, however the second lender will often have an interest rate 3% - 4%…