Bank A has $643 million in loans and $93 in unused loan commitments. A business...

60.1K

Verified Solution

Question

Finance

Bank A has $643 million in loans and $93 in unused loan commitments. A business draws on its revolving line of credit at the bank for $15 million and another business pays down its revolving line of credit at the bank by $5 million. What is the new balance of loans at the bank, in $ million? Drop the $ symbol.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students