1 suppose your bank lowers its minimum balance requirement, Ask an Expert

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1. Suppose your bank lowers its minimum balance requirement by $500. So you take $500 out of your checking account and put it into a money market deposit account. What is the overall effect on M1 and M2?

M1 falls by $500, M2 rises by $500

M1 is unchanged, M2 is unchanged

M1 falls by $500, M2 is unchanged

M1 is unchanged, M2 rises by $500

2. . A property worth $16 million can be refinanced with an 80% loan at 9.5% over 20 years. The balance on the current loan is $12,148,566. Loan payments are $113,302 per month. The loan balance in 10 years will be $8,396,769. If the property is expected to be sold in 10 years, what is the incremental cost of refinancing?

A. 9.71% B. 10.36% C. 12.42% D. 14.58%

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92865370

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