Unit 4 Loans for the Dream
Part I Getting ready
Exerci B.
Keys:
T apescript:
A. Y ou asked me where all the money goes. It's difficult to say exactly, but obviously we spend a
lot of money on groceries. I enjoy cooking, and as we have a large family — four children —our food bill is quite big. We also like eating out —my wife and I probably go out to a restaurant about once a we
ek. Unfortunately, there are no theatres round here, so we don't go to the theatre as much as we'd like. But we do spend money on our hobbies. I like doing jobs around the hou — I'm one of the local DIY center's best customers — and I'm very keen on sailing — that's a very expensive hobby. I'm also very interested in antiques, especially clocks.
Y ou must let me show you my collection one day ...
B. I'd like that. I wanted to ask you about holidays. Do you usually go abroad or stay in this
country?
if函数的使用方法A. We usually stay here. In fact, we spend very little on holidays. We have a small hou near the
a and we usually go there. That's where I do my sailing. We did go away for a week last year, but that was exceptional.
T apescript:
A: So how much did we spend on entertainment this year?
B: 2566.
A: That's down a little on last year. And what's the figure for depreciation?
成年人的英文B: 300, the same as last year.
A: Hm, expenditure on cretarial expens is up.
B: Y es, there's a big increa there.
A: What's the figure of 2612 for?
B: Where's that?
A: Six figures down.
B: That's motor expens.幼儿谜语
A: And what does this figure reprent?
B: Audit and accountancy costs.
A: They're both up a lot.
B: Y es, but expenditure on telephone and postage is down.It's half as much as last year.
Part II Raising money for buying a car
Exerci A.
Keys:
1. college
2. repairing
3. a hundred pounds
4. three hundred fifty to four hundred
5. interest rates
6. an Ordinary Loan
7. 24 months
Exerci B.
1. overdraft
2. repay
3. lenders in the short term
4. pay interest on
5. collateral
6. life policy
7. deeds of the hou
8. Government Securities
9. certificate 10. on a day-to-day basis
T apescript：
J—Mr. Jackson B – Bank Manager
B: Well, good afternoon, Mr. Jackson.
J: Good afternoon. I've come to e you to e whether it's possible to ... get an overdraft. I'm ... I want some money. [Y es] I'll tell you quite frankly what it is. I'm wanting to buy a new car. [Y es] I don't know whether it's possible to rai any money from the bank in this way.
B: Er, I e no reason why not.
J: I've got an old car ...
B: What's your proposition?
J: Well, I've got this old car which is an eight-year-old Morris 1000, and I don't think there's any point in having it repaired any more becau it just isn't worth it. I feel that I could probably get about a hundred pounds for it and then that means that I would need about another four hundred-odd, three hundred and fifty ... [Mhm] er, on top of that, to buy a, a, not a new car exactly, but a newer one. [Mhm] Um, ...
B: Do you u the car for your business, for your work?
J: Er; yes I do, up to a point. That is to say, sometimes I take it to work and sometimes I don't, becau I'm almost within walking distance of the College. [Mhm] Does this have some bearing on the, on the question of whether I can get an overdraft?
B: No, I don't think so. I, er, it was just a matter of interest that I asked you, really. Y ou think three hundred and fifty?
J: I would say about three hundred and fifty to four hundred. With the other, with the other [Y es] hundred pounds then it would be about, er, five hundred pounds; well, one can get quite a decent car for five hundred pounds [Quite] — cond hand, of cour.
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B: Quite. And what sort of period of time could you repay us?
J: Well, erm, this rather depends on you. Um, I would like to ... I, er, what is the normal proc edure for such a sum of money?
B: Well, for such a sum of money we could expect repayment within twenty-four months.
J: Two years.
B: Two years.
J: I e.
B: We are lenders in the short term, remember, not long term.
J: Y es. Er, is there ... Do you, do I pay interest on this?
蔗蟾蜍
B: Y ou will pay interest on — well, the type of loan I have in mind is a Personal Loan, as I assume you've got no form of collateral to offer.
J: What is — what is collateral?毕业晚会主持词
B: Well, have you any shares in any companies or life policies, deeds of hous, or anything like that?
J: I have some Government Securities, is ... would this be ... sufficient?
B: Y ou have some Government Securities, and what is their value?
J: Er, it's about ...
B: Have you got the certificates?
J: ... eight hundred pounds or so.
B: About eight hundred pounds?
J: Y es, but I don't want to ...
B: Y ou don't want ...
J: ... cash them.
B: No. No, well you wouldn't ... that wouldn't involve you in cashing them. I could grant you an Ordinary Loan where the interest to you would be less than on a Personal Loan, if you were willing to charge that Share Certificate to us.
J: Y es. I e, um, er, is it, is it possible to er ... what's ... that, that would be the only curity which you would need, in fact?
B: I shouldn't need any other curity, other than that ... [I e] not on a loan, not on a loan of that size. Or if you would agree to do it on a Personal Loan basis which [cough] I would not require any curity whatever, as on a Personal Loan we have death cover and you are in regular employment, er, in, er, good-salaried employment, with a with a good, with a good salary, therefore I would not ask you for erm, any curity. [Y es. Y es.] But the interest rate would be higher than on an Ordinary Loan. [Y es] I should charge you ven percent on a Personal Loan and that's on the original amount taken, whereas on an Ordinary Loan it would be at one and a
half percent over Bank Rate, minimum six percent, and that would be calculated on a, on a day-to-day basis, so it does in fact work out cheaper.
J: I e. Y es.
B. Now try this: listen to a more authentic version of the dialogue. First complete the chart to show the differences between the two loans. Then try to find the English equivalents of the Chine expressions listed.
Part III Housing in the U.S.A.
Exerci A.
Keys:
Outline
I. A. cost of housing
1. 1/4-1/3
2. size and location
B. mortgage
II. B. easy to get things repaired
III.
1. mortgage
2. condominium
T apescript:
In the U.S. today, the cost of housing is very high. It is common to pay one fourth to one third of a family's income on the place to live. The price of a hou depends on its size and location. Big hous are more expensive than smaller ones. And hous clor to the center of big cities are more expensive than ones in the suburbs or in small towns.
Regardless of the cost, it's usual for people to buy their hous over a period of time. When a family buys a hou, it is necessary to borrow money from a bank to pay for it. Then they repay the bank in regular payments. This kind of bank loan is called a mortgage. Families can take 30 years to pay off the mortgage. Without a mortgage, it would be impossible for most people to own their hous.
Many Americans don't own their own homes. They pay landlords to live in their homes. The money they pay for this is called rent. Usually it is cheaper to rent than it is to buy and to pay a mortgage. Al
科学探究的步骤
so when something needs to be repaired, it is easy for the renter to ask the landlord to fix it.
Some people rent hous, but most renters live in apartments. Apartment buildings are located in cities where it is too costly to build hous. Recently, it has become common for renters to buy their apartments. When this happens, the cost usually increas, but the money goes to pay off the mortgage. Apartments bought this way are called condominiums.
Exerci B.
Keys:
1. borrows, mortgages, shares, mortgage-bad curities
2. They control about half the home loans in America.
3. Hiding the changes in the value; Poor supervision; Not carefully reporting its finances.
4. The price of Fannie Mae has dropped.
T apescript:任职证明
Americans say owning a home is part of the American dream. But many people may not recognize the part that a company called Fannie Mae plays in the home loan industry. Now government financial investigators have found rious problems at the company.
Fannie Mae began as the Federal National Mortgage Association. Congress established it in nineteen thirty-eight. It became a private corporation in nineteen venty, and later changed its name to Fannie Mae.
A mortgage is a loan cured by property. A person goes to a lender, usually a bank, to borrow money for a home. The person pays the loan back, with interest, over a period of long as thirty years. The bank must wait a long time to get its money back. So Fannie Mae buys mortgages from lenders. This supplies them with money to u for other loans.
Investors buy shares in Fannie Mae so the company has money to pay for mortgages. Fannie Mae also lls and trades what are called mortgage-backed curities. Bonds bad on mortgages are considered low-risk investments. However, the are not guaranteed by the government.
Fannie Mae and a similar company, Freddie Mac, control about half the home loans in America. Experts say the market is worth almost eight million million dollars.
Last year, investigators found problems with financial record-keeping at Freddie Mac. But they say the problems at Fannie Mae are a lot more rious.
An agency called the Office of Federal Housing Enterpri Oversight accud Fannie Mae of hiding changes in its value. The agency criticized the company for poor supervision and not carefully reporting its finances. Congress, the Securities and Exchange Commission and the Justice Department are also investigating Fannie Mae.
Franklin Raines, the chief executive officer, defends the actions of the company. Mister Raines says Fannie Mae did not fally reprent its financial condition.
Industry experts say the work of Fannie Mae and Freddie Mac helps keep mortgage rates lower, so more Americans can own homes. But the price of Fannie Mae stock has dropped after news of the investigations.
Experts say the company could have to pay more when it needs to borrow money. They say the situation could also lead to higher mortgage rates for home buyers in the future.
Part IV More about the topic: Consumer Rights
Exerci A.
Keys:
1. a. merchantable quality
b. fitting for particular purpo /ller
c. as described
2. no/ retaile r’s responsibility/take to shop
3. item/ too large/ fragile
4. evidence of purcha/ date of purcha
5. go to court/ sue the ller
Exerci B.
