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Unit 13: Fiber Optic Cable

Very thin transparent fibers have been developed that will eventually replace the twisted-pair copper wire traditionally used in the telephone system. These hairlike fiber optic cables carry data faster and are lighter and less expensive than their copper-wire counterparts. Twisted-pair wire and coaxial cable carry data as electrical signals. Fiber optic cable carries data as laser-generated light beams.

The differences between the data transmission rates of copper wire and fiber optic cable are tremendous. In the time it takes to transmit a single page of Webster’s Unabridged Dictionary over twisted-pair copper wire (about 6 seconds), the entire dictionary could be transmitted over a single fiber optic cable.

Another of the many advantages of fiber optic cable is its contribution to data security. It is much more difficult for a computer criminal to intercept a signal sent over fiber optic cable (via a beam of light) than it is over copper wire (an electrical signal).

Fiber optic technology has opened the door for some very interesting domestic applications. The high-capacity cable will service our telephone, our TV, and our PC. Fiber optic cable will unable us to see the party on the other end of the telephone conversation. As for TV viewing, we will be able to choose from hundreds of movies, including current releases, and we will be able to choose when we watch them. In the PC world, tapping into an information network will be an increasingly visual experience, with plenty of high-resolution color graphics. For example, instead of reading a buying service’s product description, we’ll be able to view a photo-quality display of it. However, we may need to wait a few years to enjoy these services. The expense of fiber optic cable may delay its wide-spread implementation in the home.

Unit 14: Offer for a Personal Loan

Brown How about the charges for an overdraft?

Lang The overdraft is rather favorable as there are no extra charges. Of course, interest has to be paid quarterly, however, only for the sum overdrawn.

Brown How can I pay the overdraft back?

Lang Oh, this is quite simple: either through a fixed amount every month or in large sums if you prefer this.

Brown What predictions have to be fulfilled before I can make use of it?

Lang Regular wages, a regular old age pension, or — as in your case — a regular income. In addition to this, you ought to have a fixed place of residence and a firm job.

Brown Will all this do as security?

Lang Well, you know, there is a banker’s saying: the safest credit is always the credit based on mutual trust.

Brown That really does sound fair. Up to what amount will I be able to overdraw my account?

Lang In view of the level of your income, and as it is a regular one, we will allow you an overdraft up to the amount of twice your monthly income. If this is not sufficient, I can recommend you to make use of a personal loan. May I ask what you need the money for?

Brown As a matter of fact, I would like to buy some new furniture and a TV set. Apart from that, I will need a new car in the near future.

Lang The personal loan we can offer is up to DM 30,000. However, in this case you would have to provide security.

Brown How can I do this?

Lang In your case, you would assign the documents of your car — isn’t that called a logbook in England? — for security which you would sign for in the bill of sale. Furthermore we will need a guarantor for this conditional guaranty. Besides, all the requirements necessary for an overdraft must be fulfilled in the case of the personal loan as well. Have you taken personal loans from other banks?

Brown No, not at all. Why do you ask?

Lang We do not want our customers to run too high debts which are then hard to pay back. The modern communication technologies allow the banks direct access to the Schufa terminal which provides information on the credits and loans taken by customers. This is, of course, strictly confidential.

Brown I see. So this serves as protection for the customers not to have too many debts as well as for the bank to be sure about his customers’ being able to deal with credits and loans. What are the terms for paying the loan back?

Lang The normal terms are 12 to 72 months. In addition to the interest we charge a handling fee of 2 per cent of the total amount.

Brown Very well, then. I would like to apply for a personal loan of DM 30,000.