Finance charges - Study guides, Class notes & Summaries

FIN3702 Assignment 1 (DETAILED ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED Answers, guidelines, workings and references ............ Question 1 Not yet answered Marked out of 1.00 Thyme Bank Ltd has offered Pizza Parlour Ltd the following in response to a R250 000 one-year loan application which was made to the bank. The stated rate was 9% and a 13% compensating balance. What will the effective annual rate be... O 1. 790% O2 375...

FAC2601 ASSIGNMENT 1 SEMESTER 2 2023 SECOND SEMESTER 2023 ASSESSMENT 01 (20 marks) (180 minutes) Answer the following theoretical discussion type questions. Indicate your question number and discuss the question in detail and provide all necessary calculations were applicable. 1. Capital contributed by the shareholders of a company is known as share capital. When companies require additional funds from the public, the company would normally use the services of a financial institution to h...

Hannah has a credit card with an APR of 11.90% and a billing cycle of 30 days. The following table shows Hannah's transactions in the month of April. - CORRECT ANSWER $3.30 Roger has a credit card with an APR of 19.40% and a billing cycle of 30 days. The following table shows his transactions with that credit card in the month of June. - CORRECT ANSWER daily balance method Jennifer has a credit card with an APR of 10.22% and a billing cycle of 30 days. The following table show...

This document contains workings, explanations and solutions to the FIN3702 Assignment 1 (QUALITY ANSWERS) Semester 1 2024. For assistance call or us on 0.6.8..8.1.2..0.9.3.4........ Question 1 Not yet answered Marked out of 1.00 Thyme Bank Ltd has offered Pizza Parlour Ltd the following in response to a R250 000 one-year loan application which was made to the bank. The stated rate was 9% and a 13% compensating balance. What will the effective annual rate be... O 1. 790% O2 375%, © ...

WISE PRACTICE TEST- COMPLETE STUDY GUIDE QUESTIONS AND ANSWERS 2023 NEW UPDATE Question : To qualify for a Federal Housing Administration (FHA) loan, a person must generally A high school student has begun to investigate the field of finance as a career choice. In deciding about the field, the student should focus on which question first? A: Will I find a balance between financial rewards and personal satisfaction from work? A company offers a defined-contribution pension pl...

A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages is called the ________. secondary market The Federal agency established to restore Fannie Mae and Freddie Mac to a sound and solvent financial condition is _____. Federal Housing Finance Agency (FHFA) The ____ guarantee allows mortgage lenders to obtain a better price for their loan in the capital markets. Gov't. National Mortgage Association - Ginnie Mae ...

Personal Finance, 6e (Madura) Chapter 1 Overview of a Financial Plan 1.1 How You Benefit from Personal Finance 1) Most Americans will never be able to understand and develop a personal financial plan. Answer: FALSE Diff: 1 Question Status: Previous edition 2) The simple objective of financial planning is to make the best use of your resources to achieve your financial goals. Answer: TRUE Diff: 2 Question Status: Previous edition 3) An understanding of personal finan...

Material fact - About the property Related to the property Principal able to complete the transaction Special importance Disclosing material facts about a seller's property - To client or customer Even if it hurts your customer Regardless of how pubic the material fact is Listing agent has highest responsibility Buyer agent is responsible to disclose if known Answer questions to avoid misrepresentation Willful - intentional Negligent - Unintentional--failure to exercise reasonable c...

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

CRCM Questions And Answers With Verified Study Solutions In which of the following transactions is a disclosure statement to the consumer required? ANS A $125,000 loan to purchase and secured by an unimproved lot on which the borrower eventually plans to build a home for retirement Which of the following charges is generally to be a prepaid finance charge? ANS Points paid by the borrower in cash at closing Which of these transactions requires the earliest disclosure? ANS A $200,000 loa...