Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Commercial (in contrast to consumer) line of credit is an agreement between a customer and a bank that
a.
is renewed at the end of the contract period in an evergreen facility.
b.
gives the customer the right to borrow up to a predetermined amount.
c.
is usually for one year or longer.
d.
may not obligate the bank to honour the customer’s request for a loan
The APR is
a.
the average annual percentage cost paid on deposits
b.
the average rate paid on deposits
c.
the average rate paid for credit
d.
the average annual percentage cost paid for credit
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