TIME REMAINING
54:32
Tom would like to take out a secured loan to help pay for a vacation this summer. He has offered his car as collateral.
His car is worth $3,500. His bank can offer loans for 80% of collateral value. The vacation he has planned will cost
$4,750. Approximately how much additional collateral will Tom need to offer in order to borrow enough to go on his
vacation as planned?
$1,000.00
b. $1,362.50
c. $2,437.50
d. $2,800.00
a.
Please select the best answer from the choices provided
A
B.
ОООО
D

Answers

Answer 1

Tom will need to offer additional collateral of C. $2,437.50 to borrow enough for his planned vacation.

What is collateral?

Collateral refers to a valued property or financial security offered by the borrower to the lender to guarantee repayment of a loan.

Lenders sell collaterals when the borrowers fail to comply with their loan terms.

How is the additional collateral determined?

Car's value = $3,500

Collateral value in percentage = 80%

Car's collateral value = $2,800 ($3,500 x 80%)

Planned cost of vacation = $4,750

Additional cost to meet vacation cost = $1,950 ($4,750 - $2,800)

Additional collateral value to meet target = $2,437.50 ($1,950/80%)

Total collateral that Tom needs to offer = $5,937.50 ($3,500 + $2,437.50)

80% of $5,937.50 = $4,750

Another way is to work with the planned cost and the collateral percentage offered by Tom's bank:

Planned cost of vacation = $4,750

Collateral value in percentage = 80%

Total collateral to be offered by Tom = $5,937.50 ($4,750/80%)

Car's collateral value = $3,500

Additional collateral value = $2,437.50 ($5,937.50 - $3,500)

Thus, Tom needs additional collateral of C. $2,437.50.

Learn more about collateral at https://brainly.com/question/11665626

#SPJ1


Related Questions

I NEED THE ANSWER ASAP

tea drinkers in Canada is 4:1. Jack concluded from this that if 400 people

were surveyed, 100 of them would most likely be regular tea drinkers. Is

he correct? Explain.

Answers

Answer: He is incorrect.

Step-by-step explanation:

The question says:

"tea drinkers in Canada is 4:1"

We only have that, so i guess that this means:

"The ratio of nonregular tea drinkers to regular tea drinkers in Canada is 4:1"

The ratio 4:1 means that for each 4 non-regular tea drinkers, there is one regular tea drinker.

Now let's multiply both by 100.

For each 400 nonregular tea drinker, there are 100 regular tea drinkers, if we add them we have a total of 500

Then the statement would be if 500 people were surveyed, 100 of the would most likely be regular tea drinkers.

The distance between the points (2, -4) and (3, 8) is:

Answers

Answer:

1,12

Step-by-step explanation:

Which property
If 9x=27, then 27=9x

Answers

Answer:

symmetric property

Step-by-step explanation:

x=y then y=x

Three pounds of bananas cost $7. How many pounds of bananas per dollar is that?
Round your answer to the nearest hundredths place.

Answers

Answer:

0...

Step-by-step explanation:

I need help pls.....​

Answers

Answer:

Can you take a clear pic pls

Step-by-step explanation:

What is the height of a solid cylinder with a mass of 26.05 g, a diameter of 3.56 cm, and a density of 2.72 g/cm^3?

Answers

Answer:

h = 0.962 cm

Step-by-step explanation:

Given that,

Mass of a solid cylinder, m = 26.05 g

The diameter of a cylinder, D = 3.56 cm

Radius, r = 1.78 cm

The density of a cylinder is 2.72 g/cm³

We need to find the height of the cylinder. Let it is h. We know that mass per unit volume is equal to density of an object. It can be given by :

[tex]d=\dfrac{m}{V}\\\\d=\dfrac{m}{\pi r^2 h}\\\\h=\dfrac{26.05}{\pi \times (1.78)^2\times 2.72}\\\\h=0.962\ cm[/tex]

So, the height of the cylinder is 0.962 cm.

Paula says that she can draw an array with a total of 17 counters placed in3 rows

Answers

Answer:

impossible

Step-by-step explanation:

17 divided by 3 is a number with a remainder

Could anyone help with “b” on the bottom. I’m not sure what it’s asking. Thank you!!

Answers

Answer:

yes

Step-by-step explanation:

the question is asking if the mean helped you find the number that pops up the most, so in this case 3.

by using the mean we will do

0+0+3+3+5+7+2+2+3+3+3+5 divided by 12

giving us a result of 3, in this case YES it does help at better explaining the typical value

What percent of the observations in a distribution lie between the first quartile and the third quartile

Answers

Answer:

The value is    [tex]k = 50\%[/tex]

Step-by-step explanation:

Generally quartiles divide observation into four parts  

   The first quartile takes up 25% of the observation

    The second quartile takes up 50% of the observation

    The third quartile takes up  75% of the observation

      The fourth quartile  takes up 100% of the observation

Generally the percentage of the observation that lies between the first and the third quartile is mathematically represented as\

         [tex]k = 75\% - 25\%[/tex]

=>       [tex]k = 50\%[/tex]  

Using the concepts of quartiles and percentiles, it is found that 50% of the observations in a distribution lie between the first quartile and the third quartile.

A measure is said to be at the xth percentile of a data-set if it is greater than x% of the observations in the data-set.The first quartile is the 25th percentile, as [tex]\frac{100}{4} = 25[/tex]. The third quartile is the 75th percentile, as [tex]3\frac{100}{4} = 75[/tex].

To find the percentage between, we subtract the percentiles, hence:

75 - 25 = 50

50% of the observations in a distribution lie between the first quartile and the third quartile.

A similar problem, which involves percentiles, is given at https://brainly.com/question/24495213

Solve for x. Give your answer as two exact values: please show steps
2^2 − 7 − 13 = 0

Answers

Answer:

No Solution

Step-by-step explanation:

2^2-7-13=0

4-7-13=0

-3-13=0

-16=0

No Solution

Solve 7 + x - 15 = -2 2/3

Answers

Answer: i am 99.9% sure the answer is 16/3 or the other forms of it 5.3 repeating three or mixed number 5 1/3

which one is right?

l/w or w/l

the w is width and the l is length

Answers

The correct Answer should be L/W. :)

325 x 454 ≈ __________ x __________ = 150,000

can somone help me with this one

Answers

Answer: 300 x 500=150,000

Step-by-step explanation: Here, they're asking you to create a ballpark estimate by rounding. Since most people can't multiply 325 by 454 in their heads, it's more ideal to simply round to get an estimate first. Here, the numbers are rounded to the nearest hundred for a more friendly equation. The ≈ sign means approximately equals, or about, which indicates that your answer is close but not exact.

Hope this helps,

Lacia :)

Triangle ABC, with coordinates A(2, 3), B(3, 5), C(7, 4), is dilated by a scale factor of 2. What are the coordinates of the dilated figure, triangle A'B'C'?

A. A'(4, 6), B'(6, 10), C'(7, 4)
B. A'(2, 3), B'(3, 5), C'(7, 4)
C. A'(4, 6), B'(6, 10), C'(14, 8)
D. A'(4, 6), B'(3, 5), C'(14, 8)

Answers

It is b I believe not 100% sure but yea ^^
I also think it’s B but not 100% sure

Can someone please explain this to me ?

Answers

Answer:

Not sure how to explain but your answer is x=11

Step-by-step explanation:

The two triangles are equal to each other so if angle B is 44 degrees, angle E on the correlating triangle would also be 44 degrees.

If A=(-1, -3) and B=(11,-8), what is the length of AB?
A. 14 units
B. 13 units
C. 12 units
D. 11 units

Answers

9514 1404 393

Answer:

  B.  13 units

Step-by-step explanation:

The distance formula can be useful.

  d = √((x2 -x1)² +(y2 -y1)²)

  d = √((11-(-1))² +(-8-(-3))²) = √(12² +(-5)²) = √(144 +25) = √169

  d = 13

The length of AB is 13 units.

_____

If you're familiar with a few of the small Pythagorean triples, you would know that for integer coordinates, an integer answer is most likely to be 13. The x- and y-differences in coordinates being 12 and 5 confirm that the (5, 12, 13) triple is being used here.

There are no Pythagorean triples with hypotenuse values of 11, 12, or 14. (3, 4, 5) can be doubled to give (6, 8, 10), but 10 is not a choice.

e collect diswers.
Which statements are true about the function graphed here?

Answers

Answer:

Step-by-step explanation:

Just took the test I hope this helps a little

The y-intercept of line is at (0, -6) and the domain is (-∞, ∞). Then the correct options are A and D.

What is the linear system?

A linear system is one in which the parameter in the equation has a degree of one. It might have one, two, or even more variables.

The graph of the line is shown below.

The line intersects the y-axis at (0, -6). Then the y-intercept of the line is (0, -6).

The domain of the linear function will be a real number.

And the range of the linear function is also real number.

Then the correct options are A and D.

The graph is given below.

More about the linear system link is given below.

https://brainly.com/question/20379472

#SPJ2

Select the values that correctly complete the problem.

a = __
b = __
c = __
d = __
e = __

Answers

a =  ✔ 2

b =  ✔ 4

c =  ✔ 3

d =  ✔ 2

e =  ✔ 3

What is this rate written as a UNIT RATE?



6 miles in 2 hours

Answers

Answer:

3 miles in 1 hour

Step-by-step explanation:

6÷2=3 miles

2÷2=1 hour

The number of different simple random samples of size 5 that can be selected from a population of size 8 is

Answers

Answer:

Number of  different simple random samples of size 5 that can be selected from a population of size 8 = 56 ways

Step-by-step explanation:

Step 1: Stating the combination formula

The number of selections of a number n, taking r at a time is given by the formula: [tex]\frac{n!}{(n - r!)r!}[/tex]

From the formula above, n is population size = 8

r is sample size = 5

Step 2: Substituting the values of n and r

Number of  possible selections =  8!/(8 -5)*5! = 8!/3! * 5!

Number of  possible selections = [tex]\frac{8*7*6*5*4*3*2*1}{3*2*1 * 5*4*3*2*1}[/tex]

Number of  possible selections = 56

Therefore, number of different simple random samples of size 5 that can be selected from a population of size 8 = 56 ways

Find the midpoint of the two points on the circle (-2,1) and (5,-4)

Answers

Answer:

1.5,-1.5

Step-by-step explanation:

please pass this on... ( #helpsavelives )

Who ever is reading this:

I love u.

U matter.

The world needs u

hang in there ik it may be bad but u deserve the world <3

ur beautiful no matter ur shape, size, color, gender.. anything

don't give up i need u to live.

i wish i could take everyones problems so yall wouldn't have to have em but i cant so just know ily and if anyone needs to talk u can talk to me

Pls pass this on. Everyone deserves to know this. ♥️♥️

just copy and paste its not hard pls this could save someones life

Answer: (1.5,-1.5)

Step-by-step explanation:

I hope it’s right

what are the correct factor pairs of 20

Answers

the factor pairs of 20 are:
1x20
2x10
4x5

Multiple by 10 and 100
8*10=

Answers

Answer:

Step-by-step explanation:

80

Chen recorded the number of texts he sent and the number of tweets he posted each day for a month. The equation y = 5x + 4,
where x is the number of texts and y is the number of tweets, models the relationship between these two quantities. Identify the
slope and explain its meaning within this context.


Answers

Answer/Step-by-step explanation:

The relationship between number of texts, x, and number of tweets, y, is represented in the slope-intercept form by the equation, y = 5x + 4.

The slope of this equation is 5.

In this context, the slope, 5, means 5 tweets are made for every 1 text sent each day.

This slope is positive meaning, as text sent increases, also, tweets increased.

18) Solve each equation for the given variable.
C = 21 r Solve for r

Answers

Answer:

r=c/21

Step-by-step explanation:

1. In a box full of different fruit 30% of them are apples. If there are 15 apples in
the box, how many total pieces of fruit are in the box?
Your answer

Answers

Answer:

50

Step-by-step explanation:

15/x=30/100

30x=1500

x=50

there are 50 apples in the box.

part/whole = percent/100

15/x = 30/100

30x = 1500

x = 50

Solve the system by Substitution.
x−y=7
−2x+7y=−19
A. No Solution
B. (6, -1)
C. (7, 6)
D. (6, 5)

Answers

Answer:

x=6 y=-1

Step-by-step explanation:

x=7+y

-2(7+y)+7y=-19

x=7+y

-14+5y=-19

x=7+y

5y=-5 ===> y=-1

x=7-1

y=-1

x=6

y=-1

NASA uses a launch clock to measure time before and after lift-off. It takes 2 hours and 15 minutes of preparations on base, 20 minutes to travel to the launch pad, and 40 minutes of pre-launch checks once in the spacecraft. When should the astronauts begin preparation?
–3 hours 15 minutes, because all the preparation times add to 3 hours and 15 minutes
–3 hours 35 minutes, because all the preparation times add to 3 hours and 35 minutes
–2 hours 35 minutes, because all the preparation times add to 2 hours and 35 minutes
–2 hours 15 minutes, because all the preparation times add to 2 hours and 15 minutes

Answers

Answer:

–3 hours 15 minutes, because all the preparation times add to 3 hours and 15 minutes

Step-by-step explanation:

Answer:

a

Step-by-step explanation:

i took the quiz

Jewelry store buys a gold watch to sell the price of the watch is marked up 45% the store sells the watch for $2610 how much did the jewelry store pay for the watch

Answers

Answer:

45 x 2610

   100             = 1174.5

Step-by-step explanation:

Please help me figure this out

Answers

Answer:

Step-by-step explanation:

p-6=-14

p=-8

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Taylor and Jeff observed two points, P and Q, on a number line.A number line is shown from negative 1 to positive 1 with increments of 1 over 8. A point P is shown at the seventh tick mark to the left of 0, and a point Q is shown at the seventh tick mark to the right of 0.Jeff said that the absolute values of the numbers represented by the two points are different.Taylor said that the absolute values of the numbers represented by the two points are the same.Which of the following explains who is correct? 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