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3 years ago

What is the prime rate?

Business

2 answers:

Aloiza [94]3 years ago

6 0

The answer is: a. The prime rate is the best interest rate that banks offer their most creditworthy customers.

In order to be considered as 'creditworthy' , there are several requirements that must be fulfilled by the customers. Such as:

- The customers have collateral for their credit (could be in the form of saving account or private assets)

- The customers never maxed out their credit card

- The customers never late to pay their debt.

- The customers have a steady income.

UkoKoshka [18]3 years ago

3 0

I think the answer is A

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A __________ is a profit-seeking organization that receives deposits from individuals and corporations and uses some of these de

finlep [7]

Answer:

Commercial bank

Explanation:

A commercial bank accepts cash deposits from the general public and lends a portion of the money as loans to make profits. Commercial banks make profits by charging a high-interest rate on credit issued than the interest rate they offer on deposits. By accepting deposits and lending to other customers, commercial banks act as intermediaries between suppliers and users of credit.

Commercials are profit-making institutions. Although their primary function revolves around accepting deposits and issuing out loans, they also perform other duties such as;

Discounting bills of exchange
Overdraft facility
Agency functions, including payment functions and insurance of letters of credit and checks.
General utility services including foreign exchange transactions, underwriting securities, and safe deposits.

6 0

3 years ago

Hosung Company's Cash account shows a balance of $801.65 as of August 31 of this year. The balance on the bank statement on that

Sergio039 [100]

Answer:

$603.65

Explanation:

The correct and accurate cash balance need to be calculated. This is done by preparing a Bank Reconciliation Statement.

Bank Reconciliation Statement.

Balance as per Bank Statement $1,383.00

Add Outstanding Lodgments $0

Less Unpresented Checks ($260.50 + $425.10 + $331.00) ($1,016,60)

Add Error on Bank Statement $237.25

Balance as per Cash Book $603.65

therefore,

the adjusted ledger balance of cash as of August 31 is $603.65

5 0

3 years ago

Tom Cruise Lines Inc. issued bonds five years ago at $1,000 per bond. These bonds had a 25-year life when issued and the annual

Dmitrij [34]

<u>Solution and Explanation:</u>

Required Return after 5 year = Real rate of return + Inflation premium + Risk premium

Required Return after 5 year = 5+2+4

Required Return after 5 year =11%

No of year left to maturity = 25

Annual Interest payment = 15%*1000 = 150

Face value of Bond = 1000

New price of the bond = pv (rate, nper, pmt, fv)

New price of the bond = pv (11%,25,150,1000)

New price of the bond = $ 1336.87

4 0

3 years ago

Work experience should always be listed before education on a resume. True or false?

AVprozaik [17]

TRUE !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

5 0

3 years ago

Read 2 more answers

If a cost is a common cost of the segments on a segmented income statement, the cost should:_________.

worty [1.4K]

Answer:

the correct answer is

If a cost is a common cost of the segments on a segmented income statement, the costshould:A) be allocated to the segments on the basis of segment sales.

Explanation:

hope this helps u!!!

8 0

3 years ago