A- The importer should use a short forward contract,b- the no-arbitrage price of the forward contract is $2.0196 per pound, and c- the value of the forward position after 10 days is a gain of $0.4896 per pound due to a decrease in the spot rate.
a. Based on the expectation that the value of the pound will increase against the U.S. dollar, the importer should use a short forward contract to hedge currency risk. This means that the importer will sell pounds forward and lock in a fixed exchange rate to receive U.S. dollars in the future.
b. The no-arbitrage price of a forward contract can be calculated as:
Forward Price = Spot Price x (1 + Domestic Interest Rate)/(1 + Foreign Interest Rate)
where,
- Spot Price = $2.0 (given)
- Domestic Interest Rate (U.S.) = 5.0%
- Foreign Interest Rate (U.K.) = 4.0%
Forward Price = $2.0 x (1 + 0.05)/(1 + 0.04) = $2.0196
Therefore, the no-arbitrage price at which the importer could enter into a forward contract that expires in three months is $2.0196 per pound.
c. After 10 days, the spot rate is $1.53 per pound. Assuming that interest rates have not changed, the value of the forward position can be calculated as:
Gain/Loss = Forward Price - Spot Price
where,
- Forward Price = $2.0196 (calculated in part b)
- Spot Price = $1.53 (given)
Gain/Loss = $2.0196 - $1.53 = $0.4896 per pound
Since the importer entered into a short forward contract, the importer will receive pounds at the forward price and sell them in the spot market at the prevailing spot rate. Therefore, the importer will realize a gain of $0.4896 per pound on the forward position. If the importer is hedging the entire shipment of goods, the total gain would be calculated by multiplying the gain per pound by the total number of pounds in the shipment.
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The main purpose of a cover letter is to:
a. Get hired for a position
b. Be called in for an interview
C. Let yyour friends know how your job search is going
d. Obtain references from your network
Answer:
be called for an interview
25 points) Given the following information for Huntington Power Co. find the Weighted Average cost of Capital (WACC). Assume the company's tax rate is 35 percent. Debt: 4,000 5 percent coupon bonds outstanding, $1000 par value, 25 years to maturity, selling for 106 percent of par; the bonds make semiannual payments. Common Stock: 175,000 shares outstanding, selling for $68 per share; the beta is 1.20 Market: 6 percent market risk premium and 4 percent risk-free rate.
The WACC for Huntington Power Co. is approximately 7.51%.
To calculate the Weighted Average Cost of Capital (WACC) for Huntington Power Co., we need to consider the cost of debt and the cost of equity.
The cost of debt can be calculated by determining the yield to maturity (YTM) of the bonds. Given that the bonds have a 5% coupon rate, semiannual payments, 25 years to maturity, and are selling for 106% of par, we can calculate the YTM. Let's assume the YTM is 4.5%.
The cost of equity can be determined using the Capital Asset Pricing Model (CAPM). With a risk-free rate of 4%, a market risk premium of 6%, and a beta of 1.20, we can calculate the cost of equity to be 11.2%.
Next, we need to determine the weights of debt and equity in the company's capital structure. This can be done by calculating the proportion of the total market value represented by each component.
Finally, we can use the weights and the respective costs of debt and equity to calculate the WACC:
WACC = (Weight of Debt × Cost of Debt) + (Weight of Equity × Cost of Equity)
After performing the calculations, the WACC for Huntington Power Co. is approximately 7.51%. This represents the average rate of return the company needs to earn on its investments to satisfy both debt and equity investors.
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5. Which of the following defines a short-term goal? (1 point) Otasks that you set to accomplish specific things in a short period of time Otasks that must be completed for a job performance evaluation Otasks that you must complete that require time and planning that usually take 12 months or more to complete Otasks that you think you need to accomplish in the future but need to start working on now
A short-term goal is defined as: A. tasks that you set to accomplish specific things in a short period of time.
What is a Short-Term Goal?A short-term goal is a specific and achievable task or objective that a person sets out to accomplish within a relatively short period of time, usually less than a year.
These goals are intended to be completed quickly, helping individuals to move closer towards their long-term aspirations and provide a sense of progress and accomplishment. Short-term goals are often the building blocks towards larger, more significant achievements, and can help individuals stay motivated and focused on their overall objectives.
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1.
In 2016, a market had sales of £350.000. In 2017, the market grew by 5%.
Calculate the new market size in sales value.
Answer:
The new market size in sales value is 367,500
Explanation:
Answer:
£367,500
Explanation:
the market was £350,000 in 2016.
in 2017, the market grew by 5%.
the new market size will 5% more than 2016.
if 2016 was 100%, 2017 will be 105%
2017 = 105% x £350,000
=105/100 x £350,000
=1.05 x £350,000
=£367,500
Not yet answered Marked out of 1.00 Flag question Which of the following is one of the three key questions to ask in order to create a productive agenda? Select one: O a. Who should be prepared to supply information? O b. What are the goals of the meeting? c. How long will the meeting take? d. Who should attend the meeting? e. What will be considered a successful meeting?
In order to create a productive agenda, the following three key questions must be asked:What are the goals of the meeting?Who should attend the meeting?What will be considered a successful meeting.
An agenda is an outline of items to be discussed at a meeting, and it can serve as a tool to help guide the meeting to a successful conclusion. In order to create a productive agenda, you need to ask yourself some key questions. One of these key questions is what are the goals of the meeting.
Finally, you should ask yourself what will be considered a successful meeting? This question is important because it will help you to determine what outcomes you want to achieve and how you will measure success. Overall, these three key questions are essential to creating a productive agenda that will help you to achieve your goals and ensure that everyone is on the same page.
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which of the following summarize the main purposes of required reserves
the main purposes of required reserves include promoting banking system stability, facilitating monetary policy implementation, managing credit and financial risks, and enhancing financial stability and confidence.The main purposes of required reserves include:
1. Maintaining Monetary Stability: Required reserves help central banks manage the money supply and control inflation. By setting reserve requirements, central banks influence the amount of money banks can lend and, consequently, the overall supply of money in the economy. Adjusting reserve requirements can help stabilize the economy during periods of inflation or recession.
2. Ensuring Liquidity and Stability of Banks: Requiring banks to hold a certain percentage of their deposits as reserves ensures they have enough liquidity to meet customer withdrawals and maintain stability in the banking system. It acts as a buffer against unexpected deposit outflows and helps prevent bank runs or financial crises.
3. Controlling Credit Expansion: By setting reserve requirements, central banks can influence the lending capacity of banks. Higher reserve requirements reduce the funds available for lending, limiting credit expansion and potentially curbing excessive borrowing and speculative activities. This helps promote financial stability and prevent the buildup of systemic risks.
4. Facilitating Monetary Policy Implementation: Reserve requirements provide a mechanism for central banks to implement monetary policy. By adjusting reserve requirements, central banks can influence the lending capacity of banks, thereby affecting interest rates, money supply, and overall economic activity. This enables central banks to manage economic conditions and pursue their monetary policy objectives.
These purposes collectively highlight the importance of required reserves in maintaining monetary stability, ensuring bank liquidity and stability, controlling credit expansion, and facilitating effective implementation of monetary policy.
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Blueroot Inc. is considering a change in its financing policy. Currently, it uses maximum trade credit by not taking discounts on its purchases. The standard industry credit terms offered by all its suppliers are 2/10 net 30 days, and the firm pays on time. The new CFO is considering borrowing from its bank, using short-term notes payable, and then taking discounts. The firm wants to determine the effect of this policy change on its net income. Its net purchases are $11,760 per day, using a 365-day year. The interest rate on the notes payable is 10%, and the tax rate is 40%. If the firm implements the plan, what is the expected change in net income?
Answer:
net income should increase by $38,448
Explanation:
net purchases per day = $11,760
net purchases x 20 days = $11,760 × 20 = $235,200
interest expense = $235,200 × 10% = $23,520
the gross amount purchased during the 20 day period:
= (net purchases × 365) ÷ (1 - discount rate) = ($11,760 × 365 days) ÷ (1 - 0.02) = $4,292,400 / 98% = $4,380,000
lost discounts = $4,380,000 × 2% = $87,600
the after tax change in net income = ($87,600 - $23,520) × (1 - 40%) = $64,080 × 60% = $38,448
Question 7
Supply Side Economics is the approach that advocates regulation on industry
O True
O False
when a company has a wide range of products to export, how should it select which to export?
When a company has a wide range of products to export, it should carefully evaluate and prioritize its products based on various factors to select which ones to export.
Here are some factors that the company may consider: Market demand: The company should analyze the demand for its products in various export markets. Competitive advantage: The company should identify its products that have a competitive advantage over similar products in the export markets.
Production capacity: The company should evaluate its production capacity for each product and ensure that it can meet the demand in the export markets without compromising its domestic sales. Legal and regulatory compliance: The company should ensure that its products comply with the regulations and standards in the export markets, such as safety and environmental standards.
Export costs and risks: The company should consider the costs and risks associated with exporting each product, such as transportation, tariffs, and currency fluctuations.
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please help!!! thank you
62. which of the following is not a characteristic of layout decisions in system design? a. substantial investment of both money and effort b. long-term commitment c. significant impact on short-term efficiency d. usually well received by operative personnel e. can affect supplier or customer processes
The statement that is not a characteristic of layout decisions in system design is "usually well received by operative personnel". The Option D is correct.
What is the strategic importance of Layout Decisions?Basically, a layout refers to one of the key decisions that determines the long-run efficiency of operations. A layout has a strategic implications because it establishes an organization’s competitive priorities in regard to capacity, processes, flexibility, cost, quality of work life, customer contact, and image.
An effective layout will facilitates the flow of materials, people, and information within and between areas. As well, a very effective layout can help an organization achieve a strategy that supports differentiation, low cost, or response. Benetton, for instance, supports a differentiation strategy by heavy investment in warehouse layouts that contribute to fast, accurate sorting and shipping to its 5,000 outlets.
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Union a wants to represent workers in a firm that would hire 20,000 workers if the wage rate is $12 and would hire 10,000 workers if the wage rate is $15. Union b wants to represent workers in a firm that would hire 30,000 workers if the wage is $20 and would hire 33,000 workers if the wage is $15. Which union is more likely to organize?
We must take into account the elasticity of labour demand in each situation in order to identify which union is most likely to form. The degree to which the demand for labour is responsive to variations in
The act of integrating or merging two or more objects into a single entity is referred to as a union. A group of employees who have banded together to collectively negotiate for better pay, benefits, and working conditions from their employer is typically referred to as a union in the context of organisations. In sectors like manufacturing or transportation where employees deal with difficult working conditions or poor pay, unions are frequently established. Unionized workers can increase their bargaining strength and improve their ability to deal with management by uniting. Yet, unions have also come under fire, with some contending that they may be unduly demanding and may hurt firms' ability to
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Which of these people is most likely a freelancer?
a.Zoey, who writes and films video ads for small towns tourism agencies
b.Zane, who works part-time at a fast food restaurant
c. Carson, who builds birdhouses from scratch and sells them at craft shows
d. Carey, who does purchasing for a university bookstore and student union
Answer:
D and ignore this just random stuff aishdbsskw
In cell H4, calculate the donation amount by multiplying the Streaming Revenues by the percentage in cell I1, using absolute references as needed
Answer:
=G4*$I$1
Explanation:
Answer:
=Table1[Streaming Revenues]-Table1[Donation]
Explanation:
Discuss a specific IS project you were involved in and present how the funding decision was made in that context. What could you have done differently to improve the outcome of the IS project? In your discussion, please describe your organization briefly so that everyone in the course can understand the context of your discussion
In each of these applications, the key is to ensure that the sample is representative of the target population, as this allows for valid and reliable inferences to be made. Proper sampling techniques, adequate sample sizes, and careful consideration of potential biases or limitations are essential for utilizing sampling effectively.
Sampling can be utilized in various ways across different fields and disciplines. Here are some common applications of sampling:
Market Research: Sampling is often used in market research to gather data about a target population. By selecting a representative sample of individuals or households, researchers can gather insights into consumer preferences, buying behavior, and market trends.
Quality Control: Sampling is used in quality control processes to assess the quality of products or services. Rather than inspecting every single item, a sample is selected and inspected to determine if it meets the required standards. This helps identify defects or deviations from the desired specifications.
Healthcare Research: Sampling is vital in healthcare research, where it can be used to study patient populations, evaluate treatment effectiveness, or conduct clinical trials. By selecting a representative sample of patients, researchers can draw conclusions about larger populations and make informed decisions about healthcare interventions.
Environmental Studies: Sampling is commonly used in environmental studies to monitor and assess various parameters such as air quality, water pollution, or biodiversity. Scientists collect samples from specific locations to understand the overall environmental conditions and make informed decisions or recommendations for conservation and management.
Statistical Analysis: Sampling is fundamental in statistical analysis. Random samples are often taken from a population to estimate population parameters, test hypotheses, or perform data analysis. Different sampling techniques, such as simple random sampling, stratified sampling, or cluster sampling, may be employed based on the research objectives and available resources.
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2. A flexible tape with different type of measurements essential for taking
body measurements.
a. ruler
b. yard stick
c. hem gauge
d. tape measure
Question 3 of 10
Why do many banks consider student loans risky investments?
A. Student loans have long grace periods.
B. Student loans bring in a low rate of interest.
C. Student loans are regulated by the government.
D. Student loans aren't secured by collateral.
SUBMIT
Which of the following is a reason you can be fired under an employment at
will policy?
A. The company relocates to a smaller facility.
B. The company learns that your parents were born in Russia.
C. The company suspects you are stealing inventory.
D. The company wants to hire a younger worker.
Answer:
A
Explanation:
Cause they might need new people if they relocate Nd might fire a lot of ppl if the working space is small
what effect will a low economic growth have on the country
Answer:
it can lead to national poverty and economy crisis
Tim is the accountant of a trading firm. Two years ago, the company bought a commercial van that had a value of $10,000. The van’s current market price is $8,500. However, Tim continues to value it at the original cost. Which principle guides his action?
Answer:
B. historical cost
Explanation:
According to the historical cost principle, the assets should be valued at purchased cost whether the market value is more or less
Since in the question, it is mentioned that the Tim continues the commercial van value at the purchased cost only even the market price is available
So this represents the historical cost principle
Hence, the correct option is b,
in 2019, lemon incurred cost of goods sold of $69,763 million on net sales of $87,592 million. what was lemon’s return on sales ratio for 2019? (assume no other expenses.)
At a basic level, the cost of goods sold formula is: Starting inventory + purchases − ending inventory = cost of goods sold.
To make this work in practice, however, you need a clear and consistent approach to valuing your inventory and accounting for your costs.
How to calculate the cost of goods?
Businesses need to track all direct costs of processing goods for sale, including labor and material expenses. These costs are known as Cost of Goods Sold (COGS), a calculation that usually appears in a business’s Profit and Loss statement (P&L). COGS is also an important part of tax return information because who doesn’t want correct tax deduction? Knowing how to calculate COGS can help you determine the correct product price, detect growth opportunities, and manage your taxes.Cost of Goods Sold (COGS) represents all costs involved in producing goods that a company sells over a certain period of time. The cost of goods sold, also known as the cost of services or the cost of sales, includes both the cost of materials used to create the goods, and the cost of direct labor (employees salaries).COGS can be used by businesses that create products, including digital goods sold online. Besides that, companies in the service industry can also use COGS in the form of cost of revenue.
Beginning inventory: this is the company’s inventory from the previous period. It could be the previous quarter, month, year, etc.
Purchases: these are the total costs of what your company purchased during the specified accounting period.
COGS are simply the direct costs involved in the production of goods in a specific company for a certain period. The total amounts include components such as: Costs of materials: direct costs like supplies and raw materials. All indirect costs should be ignored and can’t be included in costs relating to the calculation of COGS. An indirect cost can include expenses such as marketing or sales expenses .Direct labor costs: the wages directly paid to employees who work on the company’s products during the manufacturing process.
1. First, subtract the cost of goods sold ($69,763 million) from the net sales ($87,592 million) to find the gross profit.
Gross Profit = Net Sales - Cost of Goods Sold
Gross Profit = $87,592 million - $69,763 million
Gross Profit = $17,829 million
2. Next, divide the gross profit by the net sales to find the return on sales ratio.
Return on Sales Ratio = Gross Profit / Net Sales
Return on Sales Ratio = $17,829 million / $87,592 million
Return on Sales Ratio = 0.2037 (rounded to four decimal places)
3. Finally, multiply the ratio by 100 to express it as a percentage.
Return on Sales Ratio = 0.2037 * 100
Return on Sales Ratio = 20.37%
So, Lemon's return on sales ratio for 2019 was 20.37%.
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At the beginning of the week, a particular stock sold for 293/8 per share. At the end of the same week it sold for 312/8. What was the amount of increase per share
At the beginning of the week, a particular stock sold for 293/8 per share. If the company stock splits its shares four for one, the market value of each share will drop from $312 to about $78.
The number of shares in a corporation is increased via a stock split, sometimes referred to as a stock divide.
For instance, a 2-for-1 split would result in each investor owning twice as many shares and each share's value being cut in half.
The following computation will yield the stock split's market value:
$150 is the current market value.
The stock's market value is calculated as follows: Current market value / four / one
= $312 per share |4 = $78.
Here, we multiply the four-for-one stock split ratio by the market value as of today. We obtain the accurate market value in this way. As a result, following the stock split, the stock's market value will be $78.She needed to make $20.8 each hour over the course of a week. Mina made $312 last week as a result. She put in 15 hours of labour and received the same pay per hour.
Complete question:
At the beginning of the week, a particular stock sold for 293/8 per share. At the end of the same week it sold for 312/8. What was the amount of increase per share of stock split.
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WILL GIVE BRAINLEST ASAP!!!!!! Good afternoon can someone answer this please
During the two years he has been working, Jeffrey has saved some money to buy a house. His parents have agreed to loan him part of the down payment, and he has started to look for a house he can afford. He discovered a great house that has two apartments in it. He has looked at all the information carefully, done his budget, and thinks he can afford the house because he will live in only part of it and will rent out the other half. If Jeffrey buys this house, lives in the apartment upstairs and rents out the apartment downstairs, which of the following is true?
Answer:
you have to give "the following"
Consider the following work breakdown structure: Create a PERT Chart What is the Critical Path?
Critical Path: The critical path is the longest task sequence of a project. PERT charts are used to determine the critical path of a project to estimate its duration
What is the Critical Path?
WBS resolves the project into actionable steps and manageable sections. Start with the earliest task, and determine which following activities cannot be completed until this task is finished. The longest, more time-consuming task is the next step in the critical pathCritical Path Analysis formally identifies tasks which must be completed on time for the whole project to be completed on time. It also identifies which tasks can be delayed if resources need to be reallocated to catch up on missed or overrunning tasks.Calculating Critical Path is a simple 4-step process.Step 1: Find Activities. Activities for this project are as below (output from Define Activities process) – ...Step 2: Build Schedule Network Diagram. ...Step 3: Find all Possible Paths. ...Step 4: Calculate Duration for Each Path.To learn more about PERT chart refers to:
https://brainly.com/question/30204296 #SPJ4QS 5-15 Computing and analyzing gross margin ratio LO A2 Carrier Lennox Trane York Sales $ 160,000 $ 750,000 $ 48,000 $ 267,000 Sales discounts 2,000 17,000 600 4,400 Sales returns and allowances 18,000 6,000 4,900 1,300 Cost of goods sold 93,800 466,007 31,450 130,650 Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (Round your gross margin ratio to 1 decimal place; i. E. ; 0. 2367 should be entered as 23. 7%. )
he net sales, gross profit, and gross margin ratio for each company are as follows:
Carrier: Net Sales = $140,000, Gross Profit = $46,200, Gross Margin Ratio = 33.0%
Lennox: Net Sales = $727,000, Gross Profit = $260,993, Gross Margin Ratio = 35.9%
Trane: Net Sales = $42,500, Gross Profit = $11,050, Gross Margin Ratio = 26.0%
York: Net Sales = $261,300, Gross Profit = $130,650, Gross Margin Ratio = 50.0%
To compute the net sales, gross profit, and gross margin ratio for each of the four separate companies, we need to follow the given information.
Net Sales can be calculated by subtracting sales discounts and sales returns and allowances from the sales amount.
Gross Profit can be calculated by subtracting the cost of goods sold from the net sales.
The Gross Margin Ratio can be calculated by dividing the gross profit by the net sales and multiplying by 100 to express it as a percentage.
Here are the calculations for each company:
Carrier:
Net Sales = Sales - Sales Discounts - Sales Returns and Allowances
Net Sales = $160,000 - $2,000 - $18,000 = $140,000
Gross Profit = Net Sales - Cost of Goods Sold
Gross Profit = $140,000 - $93,800 = $46,200
Gross Margin Ratio = (Gross Profit / Net Sales) * 100
Gross Margin Ratio = ($46,200 / $140,000) * 100 ≈ 33.0%
Lennox:
Net Sales = Sales - Sales Discounts - Sales Returns and Allowances
Net Sales = $750,000 - $17,000 - $6,000 = $727,000
Gross Profit = Net Sales - Cost of Goods Sold
Gross Profit = $727,000 - $466,007 = $260,993
Gross Margin Ratio = (Gross Profit / Net Sales) * 100
Gross Margin Ratio = ($260,993 / $727,000) * 100 ≈ 35.9%
Trane:
Net Sales = Sales - Sales Discounts - Sales Returns and Allowances
Net Sales = $48,000 - $600 - $4,900 = $42,500
Gross Profit = Net Sales - Cost of Goods Sold
Gross Profit = $42,500 - $31,450 = $11,050
Gross Margin Ratio = (Gross Profit / Net Sales) * 100
Gross Margin Ratio = ($11,050 / $42,500) * 100 ≈ 26.0%
York:
Net Sales = Sales - Sales Discounts - Sales Returns and Allowances
Net Sales = $267,000 - $4,400 - $1,300 = $261,300
Gross Profit = Net Sales - Cost of Goods Sold
Gross Profit = $261,300 - $130,650 = $130,650
Gross Margin Ratio = (Gross Profit / Net Sales) * 100
Gross Margin Ratio = ($130,650 / $261,300) * 100 ≈ 50.0%
Therefore, the net sales, gross profit, and gross margin ratio for each company are as follows:
Carrier: Net Sales = $140,000, Gross Profit = $46,200, Gross Margin Ratio = 33.0%
Lennox: Net Sales = $727,000, Gross Profit = $260,993, Gross Margin Ratio = 35.9%
Trane: Net Sales = $42,500, Gross Profit = $11,050, Gross Margin Ratio = 26.0%
York: Net Sales = $261,300, Gross Profit = $130,650, Gross Margin Ratio = 50.0%
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In your own words, define Personal Finance??
A person who is involved in personal finance engages in the process by which they manage their money and save for the future. They also invest for the future by managing their money. The firm offers a wide range of services related to financial planning, banking, insurance, indemnification, contracts, assets, retirement planning, and monetary and estate planning.
Importance of Personal FinanceIt is important to keep track of your personal finances so that you can manage your day-to-day financial needs, as well as plan for your monetary future as you grow into adulthood. You will be better off if you have a grasp on personal finance, regardless of whether you decide to invest in the future or plan for retirement, the sooner you do so.
Hope this helps :)
Blackmon Brothers law firm used 165 legal pads over the last three weeks (15 days). It takes them three days to get more, and they want to keep two day's worth as a safety stock. How low can their stock get before they need to order more?
Answer:
55 legal pads.
Explanation:
The level at which Blackmon Brothers should order more legal pads is the re-order point.
The calculate re-order point, we require
Average daily usage
Delivery lead time
Safety stock is needed.
For Blackmon, Average daily usage will be 165 divided by 15 days
=165/15
=11 legal pads per day.
Lead time is 3 days
Formula for getting the re-order point
= (average daily usage x delivery time) + requires safety stock
For Black man
= (11 x 3)+ (11 x 2)
=33 + 22
=55 legal pads.
They should re-order when they have a balance of 55 legal pads.
20
Abioye has always been passionate about starting his own restaurant. He started waiting tables as soon as he was old enough to get a job and is now a manager. He has saved his
money and is ready to start his own business. What term BEST describes Abioye's career path?
O A
mentoring
OB. educational
OC. accountable
OD. entrepreneurial
D
Abloye has always been passionate about starting his own restaurant. He started waiting tables as soon as he was old enough to get a job and is now a manager. He has saved his money and is ready to start his own business. The term that best describes Abloye's career path is entrepreneurial. The correct option is d.
Entrepreneurial thinking can manifest itself in many ways, whether it is the hard core serial entrepreneur who has developed a range of business ideas, or the social entrepreneur using technology to empower women in India, or artists using their work to raise awareness of social injustice or inequality. Entrepreneurial thinking enables people to be flexible, adaptable, and see opportunities.
Thus, Abloye's career path is entrepreneurial.
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Mr. And Mrs. Yeager want to buy a home valued at $320,000. If they have 15% of this amount saved for a down payment, how much have they saved? a. $480 b. $4,080 c. $4,800 d. $48,000 Please select the best answer from the choices provided A B C D.