will make monthly payments on the certiÑcates. You‚ the investor‚ will receive ‚ interest accrued on the balance of your certiÑcate‚ and ‚ principal to the extent available for payment on your class. We may pay principal at rates that vary from time to time. We may not pay principal to certain classes for long periods of time. The Fannie Mae Guaranty We will guarantee that required payments of principal and interest on the certiÑcates are distributed to investors on time. The Trust and its Assets
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of. Consider the following three reasons to refinance. Better Interest Rates Have you had your mortgage for quite some time? Chances are that you are paying a very high interest rate compared to what current rates are. Over the past 10 years‚ 30 year fixed interest rate mortgages have been as high as 6.63%. In comparison‚ a current interest rate for the same type of mortgage is around 4.0%. You can also benefit from better interest rates if you received an
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is to be amortized in 8 equal quarterly payments at an annual rate of 12 % compounded quarterly on the unpaid balance. First‚ determine the size of the payments‚ PMT = _________? |Payment # |size of payment |interest paid |balance paid |unpaid balance | | | | j = 0.03 | |$20000.00 | |1 | |$600
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The current federal student-loan program has some problems that must be addressed. For example‚ the forgiveness of student-loan debt‚ artificially low-interest rates‚ and repayment plans. The U.S Department of Education is the primary source of federal student loans. Several types of loans are offered through the Direct Loans program. Subsidized and Unsubsidized Stafford Loans for undergraduate and graduate students. In order to address this situation‚ to help the students‚ the federal government
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b 1. Your grandmother invested one lump sum 17 years ago at 4.25 percent interest. Today‚ she gave you the proceeds of that investment which totaled $5‚539.92. How much did your grandmother originally invest? a. $2‚700.00 b. $2‚730.30 c. $2‚750.00 d. $2‚768.40 e. $2‚774.90 d 2. Forty years ago‚ your father invested $2‚500. Today that investment is worth $107‚921. What is the average rate of return your father earned on his investment? a. 8.50 percent b. 9.33 percent c. 9.50 percent
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SCOPE OF THE STATEMENT Concepts Statement no. 7 includes general principles that govern accountants’ use of present value‚ especially when the amount of future cash flows‚ their timing‚ or both‚ are uncertain. This might happen when a business sells an asset and receives payments over time. The statement is limited to measurement issues (how much) and does not address recognition issues (when or if). It does not specify when fresh-start measurements are appropriate. Rather‚ FASB expects to decide
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with bank also earn interest. Thus‚ deposits with the bank grow along with the interest earned. If the rate of interest is higher‚ public are motivated to deposit more funds with the bank. There is also safety of funds deposited with the bank. b) Grant of loans and advances The second important function of a commercial bank is to grant loans and advances. Such loans and advances are given to members of the public and to the business community at a higher rate of interest than allowed by banks
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FIN 534 – Homework Chapter 7 1. The preemptive right is important to shareholders because it? Answer c. protects the current shareholders against a dilution of their ownership interests. 2. Companies can issue different classes of common stock. Which of the following statements concerning stock classes is CORRECT? Answer d. Some class or classes of common stock are entitled to more votes per share than other classes. 3. Which of the following statements is CORRECT? Answer e. The
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INTRODUCTION Oriental Bank of Commerce (OBC) was started in Lahore‚ Pakistan in 19th February of the year 1943. It made a modest beginning under its Founding Father‚ Late Rai Bahadur Lala Sohan Lal. OBC is a public sector bank engaging in monetary intermediation of commercial banks‚ saving banks and discount houses. In 1947‚ the Bank had to face the holocaust of partition. The bank was nationalized on 15 April 1980. It has its headquarters in Gurgaon‚ Haryana‚ India. Its revenue stands to be Rs
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instruments. Bonds can be priced at a premium‚ discount‚ or at par. If the bond’s price is higher than its par value‚ it will sell at a premium because its interest rate is higher than current prevailing rates. If the bond’s price is lower than its par value‚ the bond will sell at a discount because its interest rate is lower than current prevailing interest rates. When you calculate the price of a bond‚ you are calculating the maximum price you would want to pay for the bond‚ given the bond’s coupon rate
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