Answer:
$200
Explanation:
Reserve ratio is the percentage of a deposit that a bank is supposed to withhold as reserves forming part of deposit that banks make into federal reserve.
It plays a major role in deciding the amount of money available to be lent and supply of money.
<u>Workings</u>
Reserve ratio - 20%
On a deposit of $1000, The reserve is 20% * 1000 =$200
Assuming no excess reserve , the limit on the deposit is $800
The reserve = $200
Therefore , if $600 is lent , the bank can further lend ($800-$600)
$200
The grantor's tax is charged at $1.00 per $1,000, the tax amount would be $140 based on the selling price.
<h3>
What is a down payment?</h3>
The cash upfront paid by the buyer in real estate transactions and other significant purchases is known as a down payment on a house. For a home being used as a primary residence, down payments, which are typically a percentage of the purchase price, can range from as little as 3% to as much as 20%. The sort of mortgage you select, as well as the financial status and the kind of property you're purchasing (such as whether it's a primary residence or an investment property, for example), usually decide the down payment amount.
To know more about the down payment, visit:
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Answer:
BOB should offer 4,583,333 for the building if he wants the cap rate to be the same as the similar building.
Explanation:
The cap Rate is used to to calculate how much income a building or a property generates compared to its price it is bought at, so in order to find the cap rate we divide the annual NOI by it's price. In this question we will have to calculate the cap rate of the similar building which was sold for 6,000,000 and then use that cap rate to find what should the price of the building be that BOB wants to buy.
Cap rate = Annual NOI/Price
Cap rate of similar building = 360,000/6,000,000=0.06=6%
Now we will substitute 6% in the formula to find the price of the building BOB wants to buy.
0.06=275,00/Price
Price = 275,000/0.06=4,583,333
Answer:
b. The chart of accounts is a list of accounts that includes numbers and descriptions.
c. The general ledger is a list of accounts that includes numbers, descriptions, and changes in those accounts.
d. The general ledger is known as the core of any accounting system.
Explanation:
The chart of account refers to the various types of accounts i.e revenue, expenditure, asset, liabilities and so on which depicts the number of accounts, the descriptions of account, nature of the account, and the categories in which they are lying.
Whereas the general ledger is the recording of the transactions held by the business which also includes account number, their descriptions, and the changes held in those accounts. Plus, it is also known as the core of any accounting system
Answer:
9.33%
Explanation:
Calculation to determine his annualized real rate of return on this investment
Annualized real rate of return=[($7,000-$5,000/ ($5000*3) *100] -4%
Annualized real rate of return=13.33%-4%
Annualized real rate of return = 9.33%
Therefore his annualized real rate of return on this investment will be 9.33%
