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1) Bert supposes it would be amazing to bike from London to Barcelona, Spain. Bert would like to take trip 2 years from now, trip will last four months, and will cost= 3,000 per month. Bert will take out the money to cover his expenses for the month at commencement of each of the four months. Bert wishes to save the equal amount each month, starting one month from today, for 24 months to cover trip's expenses. First Bank is offering stated annual interest rate of 8% APR continuously compounded. How much will Bert require to save every month?

2) Maria is sole proprietor of the antique store which she has operated at similar location for past sixteen years. Store rents the space in which it is located but does own all of inventory and fixtures. Store has the outstanding loan with local bank but no other debt obligations. There are no detailed loan covenants or assets pledged as security for loan. Because of a sudden and unexpected downturn in economy, store is unable to make enough funds to pay loan payments due to bank. Which of the following options does the bank have to collect the money it is owed.

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  • Category:- Basic Finance
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