Law High School

11
Select the correct answer from each drop-down menu.
In which type of credit does the bank allow you to borrow money up to a specific amount?
In
, the bank allows you to borrow money up to a specific amount, which is your
Reset
Next

Answers

Answer 1

In revolving credit, the bank allows you to borrow money up to a specific amount, which is your credit limit.

The type of credit where a bank allows you to borrow money up to a specific amount is known as "revolving credit." In revolving credit, the borrower is provided with a predetermined credit limit, which represents the maximum amount they can borrow from the lender. The credit limit is determined based on various factors such as the borrower's creditworthiness, income, and financial history.

The key characteristic of revolving credit is its flexibility. Once the borrower has been approved for a revolving credit account, they can borrow money as needed up to their credit limit. They are not required to borrow the full amount available but can choose to borrow smaller sums depending on their requirements. As the borrowed amount is repaid, the available credit replenishes, allowing the borrower to borrow again within the set limit.

Revolving credit offers convenience and ongoing access to funds. Unlike a term loan where the borrower receives a lump sum and repays it over a fixed period, revolving credit provides a continuous borrowing and repayment cycle. The borrower can use the funds as needed, make minimum monthly payments, and carry forward the remaining balance. This allows for greater financial flexibility and helps manage fluctuating expenses or unexpected costs.

Overall, revolving credit provides individuals and businesses with a convenient and flexible borrowing option, allowing them to access funds up to a specific amount whenever needed, and repay it over time with varying repayment amounts as per the terms and conditions of the credit agreement.

The question was incomplete. find the full content below:

In which type of credit does the bank allow you to borrow money up to a specific amount?

In (unsecured, secured, or revolving credit), the bank allows you to borrow money up to a specific amount, which is your (debit, credit, or payment limit).

Know more about revolving credit here:

https://brainly.com/question/30192280

#SPJ8

Related Questions

Other Questions
what is the probability that the length of stay in the icu is one day or less (to 4 decimals)? What is the data type of the following variable?name = "John Doe" find the volume v of the described solid s. a cap of a sphere with radius r and height h v = incorrect: your answer is incorrect. A study was carried out to compare the effectiveness of the two vaccines A and B. The study reported that of the 900 adults who were randomly assigned vaccine A, 18 got the virus. Of the 600 adults who were randomly assigned vaccine B, 30 got the virus (round to two decimal places as needed).Construct a 95% confidence interval for comparing the two vaccines (define vaccine A as population 1 and vaccine B as population 2Suppose the two vaccines A and B were claimed to have the same effectiveness in preventing infection from the virus. A researcher wants to find out if there is a significant difference in the proportions of adults who got the virus after vaccinated using a significance level of 0.05.What is the test statistic? Find the sum of the first 27 termsof the arithmetic sequence.First, fill in the equation.a= 5 and a27Sn = 2/(a + an)Sn =[?]2+=83 Bonds and Their Valuation: Calculating Yields Unlike the coupon interest rate, which is fixed, a bond's yield varies from day to day depending on market conditions. To be most useful, it should give us an estimate of the rate of return an investor would earn if that investor purchased the bond today and held it for its remaining life. There are three different yield calculations: Current yield, yield to maturity, and yield to call. A bond's current yield is calculated as the annual interest payment divided by the current price. Unlike the yield to maturity or the yield to call, it does not represent the actual return that investors should expect because it does not account for the capital gain or loss that will be realized if the bond is held until it matures or is called. This vield was popular before calculators and computers came along because it was easy to calculate; however, because it can be misleading, the yield to maturity and yield to call are more relevant. The yield to maturity (YTM) is the rate of return earned on a bond if it is held to maturity. It is the interest rate that forces the present value of the bond to equal the present values of the interest payments received during the life of the bond and the maturity value received at the bond's maturity. Calculate YTM using a financial calculator by entering the number of payment periods until maturity for N, the price of the bond for PV, the interest payments for PMT, and the maturity value for FV. Then solve for 1/YR YTM. Remember, you need to make the appropriate adjustments for a semiannual bond and realize that the calculated 1/YR is on a periodic basis so you will need to multiply the rate by 2 to obtain the annual rate. In addition, you need to make sure that the signs for PMT and FV are identical and that the opposite sign is used for PV; otherwise, your answer will be incorrect The yield to call (YTC) is the rate of return earned on a bond when it is called before its maturity date. The equation for solving for the YTC is shown below! Price of bond - Int. (1+2) + Call price (1+r) Calculate YTC using a financial calculator by entering the number of payment periods until call for N, the price of the band for PV, the interest payments for PMT, and the call price for FV. Then you can solve for 1/YR YTC. Again, remember you need to make the appropriate adjustments for a semiannual bond and realize that the calculated I/YR is on a periodic basis so you will need to multiply the rate by 2 to obtain the annual rate. In addition, you need to make sure that the signs for PMT and FV are identical and the opposite sign is used for PV; otherwise, your answer will be incorrect. A company is more likely to call its bonds if they are able to replace their current high-coupon debt with less expensive financing. A bond is more likely to be called if its price is Select par-because this means that the going market interest rate is less than its coupon rate. Quantitative Problem: Ace Products has a bond issue outstanding with 15 years remaining to maturity, a coupon rate of 7.6% with semiannual payments of $38, and a par value of $1,000. The price of each bond in the issue is $1,220.00. The bond issue is callable in 5 years at a call price of $1,076. What is the band's current yield? Do not round Intermediate calculations. Round your answer to two decimal places. What is the band's nominal annual yield to maturity (YTM)? Do not round intermediate calculations. Round your answer to two decimal places. What is the band's nominal annual yield to call (YTC)? Do not round intermediate calculations. Round your answer to two decimal places. Assuming interest rates remain at current levels, will the bond issue be called? The firm sewd call the bond. Make or Buy-psychological tests Question 1 of 2 Not answered Your company is conducting individual career assessments. For each of these assessments you are to pay licence fees, additionally lobour cost apply. The variable costs per assessment are CHF 60 The fixed costs are labour cost of CHF 87000 on a yearly basis (40% of their capacity including social charges) Your company can perform up to 1200 assessments per year The external company EVAL limited is offering to perform these assessments at a standard price per test. Including the licence fee the overall cost per assessment would be CHF 115. Please calculate the financial impact (change in operating profit for your company), if there is a negative profit please include the financial impact with a minus sign for the following situations (enter whole numbers, without decimal places): A) Situation 1: You have excess capacity to conduct all yearly assessments. You can not reduce the working time of your employees and these are not be assigned to other tasks. What is the financial impact from outsourcing all assessments to EVAL? B) Situation 2: You have excess capacity to conduct all yearly assessments. You could reduce the working time of your employees by 80 % to reduce fixed costs. What is the financial impact from outsourcing all assessments to EVAL? C) Situation 3: You have excess capacity to conduct all yearly assessments. You can not reduce the working time of your employees. By re-assigning the employees to other tasks your company could generate an additional contribution margin of CHF 137000. What is the financial impact from outsourcing all assessments to EVAL? D) Situation 4: You have not sufficient capacity to conduct all yearly assessments. To increase your capacity there would thus be annual fixed costs in the amount described above in the initial situation. What is the financial impact from outsourcing all assessments to EVAL (in this case there is no increase of capacity necessary)? Relative to the ground, a car has a velocity of 17.3 m/s, directed due north. Relative to this car, a truck has a velocity of 23.0 m/s, directed 52.0 north of east. What is the magnitude of the truc perform online research and choose a career in the financial services industry. determine the education you will need to prepare for this career. Conduct research and find examples of each of the following consumer sales promotions and answer the following questions in 300-400-word response:Coupons are a common tool of integrated marketing communication (IMC). How have coupons influenced your purchase of a product or service? What are the features of the coupon that were most influential in your purchase decision?Many firms use contests or sweepstakes to promote their product. How does a contest or a sweepstake impact or influence your decision to purchase? Did you win any of the prizes as a result? Did this influence your view of the product? Why or why not?Samples are often given out at supermarkets or can be sent through the mail. Has tasting a sample resulted in your buying the product? If so, did you become brand loyal to the product? If not, why not? What is your opinion on the samples effectiveness as a promotional tool?Be sure to properly cite your sources using APA; include your references and in-text citations. Show your work please help me its due tomorrow!!!! Forthis discussion, we are going to explore State Court Websites and evaluate the information on those sites. As a reminder, the courts are part of the Judicial Branch of government. Suggested search terms to locate the websites are "Connecticut State Courts" or "Connecticut Judicial Branch."Examine 2 different State Court websites (you can choose which states) and describe one subject addressed on both sites (For example: "Do it Yourself Divorce." Or "Access to Justice Commission.") Describe in your own words the information available on this topic on each State Court site. Tell us which of the two-state court websites you think was the most user friendly and informative on the subject, and explain why. In 2016, Maddi Ltd had 8,200 units of sales. All of the manufacturing costs were variable and totalled $70,000 during the year. As well as producing the units, Maddi Ltd also had a shop in which it sold their units. The costs associated with the shop were $94,000 of variable and $86,400 of fixed. Total sales were $262,400. The break even in revenue (expressed in dollars) in 2016 was: a. $117,856 O d. $7,200 e. Unable to be calculated with the provided information. Ob. $3,683 c. $230,400 Choose the correct answer (Geology)5. Isoclinal fold has: O a. The two limbs dip in the same direction. Ob. The two limbs dip at equal angle in the same direction. O c. The two limbs dip at equal angle in different direction. A product whose EOQ is 40 experiences a decrease in holding cost from $16 per unit annually to $1. The revised EOQ is Osixteen times as large O four times as large O one-fourth as large O one-sixteen as large O can not be determined illustrate with example first mile and last miledistribution? Beginning retained earnings total $400.000. Dividends for the period were $75,000 and the company recorded 5130,000 of net income. The beginning and ending total assets 1900.000 and 1975.000, respectively. What is the ending balance in retained earnings (do not put a sign in front of your answer An Lane Industries is considering three independent projects, each of which requires a $1.6 million investment. The estimated internal rate of return (IRR) and cost of capital for these projects are presented here:Project H (high risk):Cost of capital = 12%IRR = 14%Project M (medium risk):Cost of capital = 11%IRR = 9%Project L (low risk):Cost of capital = 7%IRR = 8%Note that the projects' costs of capital vary because the projects have different levels of risk. The company's optimal capital structure calls for 40% debt and 60% common equity, and it expects to have net income of $3,500,000. If Lane establishes its dividends from the residual dividend model, what will be its payout ratio? Round your answer to 2 decimal places._____________% Can you please produce a business case for a new ablution project to be built at a school.The new ablution to be built is meant for sanitation reasons because of students coming back to school after a long restriction from face to face classes because of covid. the new ablution would serve as a covid measure. The additional growth of plants in one week are recorded for 11 plants with a sample standard deviation of 2 inches and sample mean of 10 inches. t at the 0.10 significance level = Ex 1,234 Margin of error = Ex: 1.234 Confidence interval = [ Ex: 12.345 1 Ex: 12345 [smaller value, larger value]