Suppose that you took out a loan with a principal of $24,680. to pay off the principal and the interest, you made quarterly payments of $1,382 for six years. furthermore, you paid a service charge of $396. what was your total finance charge?
a.
$396
b.
$8,488
c.
$8,884
d.
$8,292

What happens when a bank is required to hold more money in reserve?

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of

4. the condition requires that only one of the selected criteria be true for a record to be displayed.