Bank loans
Answers are for parents and teachers.
1
Imaginary loan: 48 000 000 so‘m, 12 months, 18 % a year, principal repaid in equal parts. What is the total payment in the first month in so‘m? (principal + first month’s interest)
4720000
2
Monthly income is 5 800 000 so‘m, permanent expenses are 2 200 000 so‘m and the monthly loan payment is 1 200 000 so‘m. Find the coefficient.
3
3
Distinguish commercial, mortgage and consumer credit with the examples: a) a long-term loan to buy a home; b) a supplier giving goods with payment deferred by 30 days; c) a loan to buy furniture for a family.
a) mortgage credit; b) commercial credit; c) consumer credit.
4
Why is the interest rate not the only factor in deciding whether to take a loan? Write two other factors.
The term, security requirements, repayment schedule, the project’s profitability and the ability to repay also matter.
5
Suppose a small entrepreneur in your area wants a loan. Guess which 3 documents or items of information he or she must prepare and check on a bank’s website (with adults).
The answer depends on the bank’s requirements; usually: a business plan or purpose, income information, loan security.