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| Author: | Fleisher, G. Dessouky, M. Ming, S. |
| Title: | Loans for which the acquired asset serves as the collateral |
| Journal: | Engineering Economist
1995 : WINTER, VOL. 40:2, p. 127-143 |
| Index terms: | LOANS ENVIRONMENT ASSETS |
| Language: | eng |
| Abstract: | This paper addresses the loan environment in which (a) the asset funded by the loan serves as collateral for loan, (b) the funded asset decreases in value over the period of the loan at a known constant rate, and (c) the loan is repaid in a finite number of equal end-of-period payments. Of particular concern are the conditions under which the value of the collateral may be less than the unpaid principal during the loan period, thereby creating an unwelcome situation for the lender. |
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