Question

Summit Record Company is negotiating with two

banks for a $139,000 loan. Fidelity Bank requires a compensating balance of 14 percent, discounts the loan, and wants to be paid back in four quarterly payments. Southwest Bank requires a compensating balance of 7 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. The stated rate for both banks is 12 percent. Compensating balances will be subtracted from the $139,000 in determining the available funds in part a.

a-1. Calculate the effective interest rate for Fidelity Bank and Southwest Bank. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)

Effective rate of Interest

Fidelity Bank =

Southwest Bank=

b. Recompute the effective cost of interest, assuming that Summit ordinarily maintains $19,460 at each bank in deposits that will serve as compensating balances. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)

Effective Rate of Interest

Fidelity Bank =

Southwest Bank=

 

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Question

BMIS 330Discussion Board Forum1Prompt: The IoE and End TimesOn page 6 of your textbook, the author

says, “The IoE is bringing together people, processes, data, and things to make networked connections more relevant and valuable. It is turning information into actions that create new capabilities, richer experiences, and unprecedented economic opportunities for individuals, businesses, and countries.”

Daniel  12:4 states, “But thou, O Daniel, shut up the words, and seal the book, even to the time of the end: many shall run to and fro and knowledge shall be increased” (KJV). 

In at least 300 words, discuss whether you believe these two passages are related and defend your position. Answer the research question, “Does the unprecedented use of the Internet to disseminate information indicate that we may be in the ‘Last Days’ as Jesus discussed in Matthew 24:14? Why or why not?”

Because there are few scholarly research articles linking these aspects, you may use resources that are not peer-reviewed for this assignment. Provide at least 2 references in your thread. One of these references may be the Bible. At least one reference must be from a source other than the Bible or your textbook.

 

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