<u>Calculation of period of the loan:</u>
It is given that The loan amount is $6,071 and the annual interest rate is 8%, that means the interest for one year shall be $6,071*8% = $485.68.
Now we are given that the total interest paid is $1,700. The time period of the loan can be calculated by dividing the total interest by the annual interest amount. Hence the period of the loan shall be = 1700 / 485.68 = 3.5 Years.
Hence he had the loan for <u>3.5 years</u>.
As an investment vehicle, and regarding the tax consequences, real estate investment trusts (REITs) are organized as REITs.
As the name suggests, REITs are organized as trusts. The assets held in the trust and the distributions made can affect the tax consequences of the trust. As an investment vehicle, shares are sold to investors and these shares may trade on stock exchanges.
Real estate investment trusts (REITs) are securities that own and, in most cases, manage income-generating real estate or related assets that trade like stocks on major stock exchanges. Many REITs are registered with the SEC and listed on exchanges.
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Answer:
as taxes increase, there is a decrease in supply
Explanation:
Answer: BRIDGE LOAN
Explanation: As the name says the bridge loan are the type of loans that bridge the difference between the new home of the buyer and the new mortgage in case the buyers existing home hasn't been sold yet. It is a type of short term loan, the usual time period for such kinds of loan is 2 weeks to 3 years.
In this case Karen and Jay have purchased the new house but sale of their old house is still pending thus from the above explanation we can conclude that bridge loan would be appropriate for them.
