Teller, kerr, and ace are co-sureties on a $120,000 loan with maximum liabilities of $20,000, $40,000, and $60,000, respectively. the debtor defaulted on the loan when the loan balance was $60,000. ace paid the lender $48,000 in full settlement of all claims against teller, kerr, and ace. what amount may ace collect from kerr?

$16,000

Explanation:

Given:

Total loan amount sureties = $120,000

Maximum liabilities of Teller = $20,000

Maximum liabilities of Kerr = $40,000

Maximum liabilities of Ace = $60,000

Amount paid in full settlement = $48,000

Now,

the responsibility of Kerr sureties in the total amount of loan =

=

=

Therefore,

The amount collected from Kerr =

or

The amount collected from Kerr = $16,000

a recipe serves 8 people, and calls for 5 lbs of apples and 2 cups of flour. you want to prepare it for 24 people. divide 24 by 8 to get 3, and then multiply your ingredients by 3.

so for 24 people, you'll need 15 lbs of apples, and 6 cups of flour.

forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.