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A borrower is often confrented with a stated interest rate and an effective interest rate What is the difference and which one should a financial manager recognize as the true cost of borrowing?
A stated interest rate is the rate that is available when you are applying. An effective interest rate is the rate that has been applied to the loan. The true cost of borrowing is the effective interest rate.
Who says neither a borrower nor lender be?
The phrase "neither a borrower nor a lender be" is spoken by the character Polonius in William Shakespeare's play "Hamlet." Polonius offers this advice to his son Laertes as part of a series of life lessons. The phrase suggests that one should avoid borrowing or lending money to maintain independence and avoid complications in relationships.
Why is it important to look at the five C's of credit before the provision of credit?
this is a method used by lenders to weigh the characteristics of the borrower and their credit worthiness.it also determines if someone should be offered credit or notand for the lender to be certain the borrower will not default on the loan.
What happens if you co-signed a car loan and the primary borrower dies?
You are still respnsible for paying should the borrower die.
Is there a difference between co-borrower and co-signer?
Investopedia Says:A co-borrower is different that a cosigner in that a cosigner takes responsibility for the debt should the borrower default, but does not have ownership in the property
A borrower is often confrented with a stated interest rate and an effective interest rate What is the difference and which one should a financial manager recognize as the true cost of borrowing?
A stated interest rate is the rate that is available when you are applying. An effective interest rate is the rate that has been applied to the loan. The true cost of borrowing is the effective interest rate.
If lender mistakenly signs over auto title to borrower and borrower sales title who is libel?
A borrower should not have a title in their possession that they have borrowed money against. This belongs with the lender. Should the borrower sell the car, they would be libel.
Who says neither a borrower nor lender be?
The phrase "neither a borrower nor a lender be" is spoken by the character Polonius in William Shakespeare's play "Hamlet." Polonius offers this advice to his son Laertes as part of a series of life lessons. The phrase suggests that one should avoid borrowing or lending money to maintain independence and avoid complications in relationships.
Why is it important to look at the five C's of credit before the provision of credit?
this is a method used by lenders to weigh the characteristics of the borrower and their credit worthiness.it also determines if someone should be offered credit or notand for the lender to be certain the borrower will not default on the loan.
What happens if you co-signed a car loan and the primary borrower dies?
You are still respnsible for paying should the borrower die.
Is there a difference between co-borrower and co-signer?
Investopedia Says:A co-borrower is different that a cosigner in that a cosigner takes responsibility for the debt should the borrower default, but does not have ownership in the property
A borrower is often confrontedwith a stated interest rate and an effective interest rate. what is the difference and which one should the financial manager recognize as the true cost of borrowing?
The stated interest rate, also known as the nominal rate, is the rate specified in the loan agreement, while the effective interest rate accounts for the impact of compounding within a specific time period, reflecting the true cost of borrowing. Financial managers should recognize the effective interest rate as the true cost of borrowing, as it provides a more accurate representation of the total interest expense incurred over the loan's duration. Understanding this difference is crucial for making informed financial decisions and comparisons between different borrowing options.
Is non recourse debt on the balance sheet of the borrower?
It should be.
What space on the Notice of Right to Cancel should the borrower sign at the loan signing appointment?
At the loan signing appointment, the borrower should sign in the designated space on the Notice of Right to Cancel, typically located at the bottom of the form. This signature acknowledges the borrower's receipt of the notice and understanding of their right to cancel the loan within a specified period. It's important for borrowers to ensure they complete this step to protect their rights regarding the loan agreement.
What is Objective of consumer awareness?
Consumers should be aware of what they are buying. Awareness is important with chemicals and when buying food with allergy properties.
How do you reduce the non performing assets?
By adoptin proper credit evaluation process. There is no one method for reducing the NPA. Multiple strategies should be adopted from the beginning. The first stage is proper credit evaluation process. It should be based on objective evaluation and the project should be economically viable and technically feasible. Only such projects which can generate income and which RBI has permitted should be financed. Once the loan is sanctioned the post followup should be meticulously followed. Regular monitoring of delinquent loans is essential.If the delinquencies are due to reasons beyond the control of borrower, for example, as in the case of excess of rains, flood, famine, etc the banker should suitably restructure the loans taking into consideration of the genuine difficulty of the borrowers. Recovery, it should be remembered, should always be at the cost of borrower's prosperity. The recovery process is an ongoing process and it should be professionally handled. My own experience is that if we are honest and keep the interest of the borrower and if the borrower is made to feel whatever steps we are taking is in his own interest he will positively respond. In addition to our honesty and promptness, the language we use while communicating to the borrower also matters very much. The language should be healthy, positive and should NOT blame the borrower directly for delinquency of the loans. That attitude of the banker also matters. M.J. SUBRAMANYAM, BANGALORE
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