Credit information provided to a seller for seller financing must be kept confidential.

Wright cosigned King's loan from Ace Bank. Which of the following events would release Wright from the obligation to pay the loan?

A. Ace seeking payment of the loan only from Wright. B. King is granted a discharge in bankruptcy. C. Ace is paid in full by King's spouse. D. King is adjudicated mentally incompetent.

You're Flora of Flora's Flowers. You borrowed $2.2 million from Big Bad Bank for 5 years beginning July 19 2020. The terms are 1-month LIBOR + 2.5%, amortization is 25% every July 19 beginning in 3 years. Suppose 1-month LIBOR when the loan begins (July 19) is 1.25% and on August 19 it is 1.5%. The amount of interest you pay on August 19 (ignoring any weekend issues) is:

a) .0125 x (31/360) x 2,200,000 b) .0375 x (31/360) x 2,200,000 c) .04 x (31/360) x 2,200,000 d) (.04 /12) x 2,200,000 e) (.015 /12) x 2,200,000