you accumulated a balance of $2,300 on your credit card that carries an interest rate of 17%. you can't afford to pay the $2,300 all at once, but you can pay the minimum payment, which is 2% per month (not less than $25). what is the balance on your card after 5 years?
Answers
The balance on your card after 5 years is $2,455.31.
Given:
Balance on your credit card = $2,300
Interest rate = 17%
Minimum payment = 2% per month (not less than $25)
To calculate the balance on the card after 5 years, we need to use the compound interest formula.
P = Principal amount = $2,300
r = Annual interest rate = 17%
= 0.17
n = Number of times the interest is compounded per year = 12 (since the interest is calculated monthly)
t = Time in years = 5
Minimum payment = 2% per month (not less than $25)
Therefore, the minimum payment per month is 2% of $2,300 = $46.
Since the minimum payment has to be at least $25, we will take $46 as the minimum payment.
Now, let's calculate the balance on the card after 5 years using the compound interest formula:
FV = P(1 + r/n)nt + PMT[((1 + r/n)nt - 1) / (r/n)]
Where,
FV = Future value
PMT = Payment made each period
n = Number of periods
r = Interest rate
t = Time in years
Substituting the values, we get:
FV = $2,300(1 + 0.17/12)12x5 + $46[((1 + 0.17/12)12x5 - 1) / (0.17/12)]
FV = $2,455.31
Therefore, the balance on the card after 5 years is $2,455.31.
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Related Questions
Refer to the shown here. The marginal cost of the sixth unit of output is:
$1.33.
$7.50.
$8.00.
$45.00.
Output (Q): 0 1 2 3 4 5 6
Total Cost (TC): $24 $33 $41 $48 $54 $61 $69
Answers
The marginal cost of the sixth unit of output is $8.
To determine the marginal cost of the sixth unit of output, we need to calculate the difference in total cost (TC) between the fifth and sixth units.The given data shows the total cost for each level of output. From the information provided, we can see that the total cost for the fifth unit of output is $61, and the total cost for the sixth unit of output is $69.
To find the marginal cost, we subtract the total cost of the fifth unit from the total cost of the sixth unit: $69 - $61 = $8.It is important to note that the marginal cost represents the change in total cost when one additional unit is produced. In this case, producing the sixth unit incurs an additional cost of $8 compared to producing the fifth unit. The other options provided ($1.33, $7.50, and $45.00) are not consistent with the given data and calculation.
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april has joined a team with members from the sales customers service and shipping and receiving departments which term best describes the team april joined
Answers
Answer:
A cross-functional team
Explanation:
A cross-functional team is composed of members with different skills, experiences, and backgrounds. In organizations, cross-functional teams will have members from various departments. The teams are formed to undertake projects that require input from different experts.
April has joined a cross-functional team. The team has members from many departments. Cross-functional are temporally and get dissolved when the project is complete.
modelo, s.a., is considering three provider of automated visual inspection systems for their packaging needs. a team of manufacturing engineers, production managers, and process engineers has developed the following list of criteria and assigned them ratings on a scale of 1 (completely unimportant) to 5 (critical). this team has also rated the candidate products on each of these dimensions using a scale of 1 (poor) to 5 (excellent). which provider should they choose?
Answers
From the given data in the question we find out that the provider A is the best and the company Modelo, S.A., should choose it.
The methodologies utilized to assign scores to each of the providers and an importance rating to each of the criteria are warning signs for this strategy. A little change in ratings or scores could cause consumers to choose Provider B instead of Provider A. For instance, moving the Minimum shutter lag criterion's weight from a 2 to a 4 will tie the two goods. To determine the best provider, we need to multiply the ratings of each provider by the corresponding criterion ratings, sum the results for each provider, and then choose the one with the highest total score.
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jorge purchased a life annuity for $3,200 that will provide him $80 monthly payments for as long as he lives. based on irs tables, jorge's life expectancy is 100 months. how much of the first $80 payment will jorge include in his gross income?
Answers
The amount of the first $80 payment that Jorge will include in his gross income is $480.
The amount of the first $80 payment that Jorge will include in his gross income can be calculated as follows;
First, let's calculate the expected return on the annuity:
Annual payment = $80
Number of years = life expectancy/12 = 100/12 = 8.33 years
PVIFA (from the present value interest factor of an annuity table) = 9.9657
Expected return = Annual payment × PVIFA
According to the present value interest factor of an annuity table for 8.33 years and 4% interest, the PVIFA is 9.9657.
Therefore;
Expected return = $80 × 9.9657
Expected return = $797.26
The expected return is the total amount of income that Jorge expects to receive from the annuity.
Since Jorge will be receiving $80 a month from the annuity, he will recover his investment in the annuity within 40 months ($3,200 ÷ $80).
All payments received after 40 months are considered income. Jorge's life expectancy is 100 months. After 40 months, there will be 60 months remaining until Jorge's life expectancy is reached.
Therefore, only $480 of the first $80 payment will be included in Jorge's gross income.
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which best deceived the nature of cause and effect in the context of the business cycle?
A. Each effect has other effects
B. Causes and effects cannot be easily defined
C. A cause has multiple independent effects
D. Each effect has a cause
Answers
All markets economies go through periods when consumption-spending on goods and services rises. Consumers buy more, companies invest more, and production, income, profit and employment increase. These periods are always followed by periods when investment and spending fall, and unemployment rises. This is the business cycle.
Lilly, Briah, Chloe, and Terry are the directors and equal shareholders of Fantastic Holidayz Pty Ltd, a company that runs an exclusive airline company and operates in several high-rise office buildings in Melbourne. Briah is the Managing Director and Terry is the Chief Financial Officer. Lilly and Chloe are non-executive directors. The Company has adopted a written constitution which contains the following clauses: (36) A directors' meeting may be called by a director giving reasonable notice individually to every other director (37) Quorum for directors' meetings is four directors and the quorum must be always present during the meeting (42) A resolution of the majority of directors may resolve to remove another director of the company. Business is booming, and Fantastic Holidayz has made a great deal of money over the last few years. However, the Board of Directors have rejected Lilly's proposal to declare a dividend for the last 7 years in a row - and she is getting fed up. The other directors always outvote her, arguing that it is better to keep the profits in reserve and continue to expand the business. Terry is currently investigating the possibility of opening further destinations to their itinerary In October 2017 Lilly was overseas for a family funeral and on her return to Melbourne, she discovers that the other directors have met and passed resolutions to remove her as a director of the company. Lilly did not receive any notice of the director's meeting. In another resolution, the remaining directors voted to pay themselves $500,000 in bonuses - equating to the entire year's profit. Lilly is angry that she has been removed and not paid a bonus and comes to you for your professional advice and opinion. Further, Fantastic Holidayz has a longstanding agreement with several travel agencies, and in January 2018, Fantastic's financial accounts showed that one agency owed the company $85,000, and there was no applicable security Recently, Lilly discovered that by June 2018 the debt owing to Fantastic Holidayz had blown out to $200,000. Terry had approved additional credit without the knowledge of the other directors. He did this, even though the agency had been taking a long time to pay its overdue account. Additionally, there are now rumours that are insolvent, but this cannot be proven. REQUIRED: 1. Discuss whether Lilly can bring any action to challenge the other directors' decision to deny dividends for several years and then pay themselves bonuses? (5 marks) 2. Advise Lilly about the process and potential outcomes if the travel agency is placed into voluntary administration - and any implications of this on Fantastic Holidayz. (5 marks) 3. Advise Lilly about whether Terry has breached any of his statutory duties as a director of Fantastic Holidayz. Include in your answer the consequences of a breach of duty, whether Lilly could bring an action for compensation on behalf of the company against Terry, and whether there are any defences available.
Answers
It is important for Lilly to consult with a legal professional to assess the specific circumstances and determine the most appropriate course of action. Legal advice tailored to the jurisdiction and applicable laws should be sought.
1. Lilly's Challenge to Dividend Denial and Bonus Payment:
Lilly may have grounds to challenge the other directors' decision to deny dividends for several years and then pay themselves bonuses. The key considerations are as follows:
a) Breach of Fiduciary Duty: Directors owe a fiduciary duty to act in the best interests of the company. By consistently rejecting dividends despite profitable operations, the directors may be breaching this duty if their decision is not justifiable and reasonable. The decision to pay themselves bonuses without Lilly's approval further strengthens her case.
b) Unfair Prejudice: Lilly may argue that the denial of dividends and payment of bonuses unfairly prejudice her interests as an equal shareholder and director. This argument can be supported by the fact that dividends have been consistently denied for several years, and the bonuses were paid without her knowledge or consent.
c) Oppression of Minority Shareholder: If the other directors' actions substantially interfere with Lilly's rights as a shareholder and director, it could constitute oppression of a minority shareholder. Denying dividends and paying bonuses in a manner that excludes Lilly's interests may be viewed as oppressive.
Lilly can potentially bring legal action seeking remedies such as an injunction to stop the bonuses, an order for dividends to be paid, or a buyout of her shares at a fair value.
2. Travel Agency in Voluntary Administration:
If the travel agency owing $200,000 to Fantastic Holidayz is placed into voluntary administration, the process and potential outcomes can be summarized as follows:
a) Voluntary Administration: Voluntary administration is a process where an external administrator (usually a registered liquidator) takes control of the insolvent company to maximize returns for creditors. The administrator assesses the company's financial position and explores options, such as restructuring or selling the business.
b) Outcomes and Implications: During voluntary administration, the administrator may propose a Deed of Company Arrangement (DOCA) to the creditors. If approved, it could allow the travel agency to continue operating and repay the debt over an agreed period. Alternatively, if the company's financial situation is deemed irreparable, the administrator may recommend liquidation.
For Fantastic Holidayz, the outcome depends on the recovery of the debt. If the travel agency is unable to repay the owed amount, Fantastic Holidayz may have to write off the debt as a loss, potentially impacting their financial position. The impact could be significant if the debt is material to the company's operations.
3. Terry's Breach of Director's Duties:
Terry, as the Chief Financial Officer and a director of Fantastic Holidayz, may have breached his statutory duties. The key considerations are as follows:
a) Duty of Care and Diligence: Directors must exercise reasonable care, skill, and diligence in fulfilling their roles. Terry's approval of additional credit without the knowledge of other directors could be seen as a failure to exercise due care and diligence. The consequences of a breach may include personal liability for any loss suffered by the company.
b) Duty to Act in Good Faith and for Proper Purpose: Directors must act in good faith and in the best interests of the company. By approving additional credit for a customer with an outstanding overdue account, despite potential insolvency concerns, Terry may have breached this duty.
c) Consequences and Action for Compensation: If Terry is found to have breached his statutory duties, consequences may include personal liability for any loss suffered by the company due to his actions. Lilly, as a shareholder, may have standing to bring a derivative action on behalf of the company to seek compensation from Terry for any losses incurred.
d) Defenses: Terry may raise defenses such as relying on professional advice, acting in good faith, or having the belief that his actions were in the company's best interests. However, these defenses may not absolve him entirely from liability if his actions are found to be unreasonable or against the company's interests.
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Project: How Entrepreneurs Improve the Economy
This project will focus on researching different ways that entrepreneurs improve the economy. You will then explore these ways and
explain whether you agree or disagree with how each can improve the economy.
During this project, you'll accomplish the following:
O Objectives
• Research at least five ways that entrepreneurs improve the economy and explain whether you agree or disagree with each.
Directions
Use the Internet to research different ways that entrepreneurs improve the economy. You will need to have at least five ways. Be sure
to include the URL links you used as resources in the space below.
Now that you have completed the research, record your findings in the table below and include the links,
1 Fillin five ways that entrepreneurs improve the economy
Answers
Answer:
time management
make best decision
saving the budget
having ideas
never relaxed
Opportunity Cost
in order to
v something else.
Opportunity cost is what must be
Opportunity cost forces consume
lucers to make
received
given up
replaced
Answers
On January 1,X5, Company A acquired 80% equity of Company B for $90,000 and had control over Company B. Company B's equity on that date includes common share cap $60,000 and retained earnings of $40,000, and the carrying amounts of identifiable assets and liabilities other than equipment are the equalion date. The above equipment can still be used for ten years from the date of acquisition, and the depreciation shall be provided on investment in Company B. In X5, Company B incurred a net loss of $10,000 and did not issue any dividends. Company B still has an account payable to Company A of $18,000 on 31 December X5. Company A's own net profit (excluding investment income and dividend income) in X5 was $150,000. What is the amount of net profit from controlling interests on the consolidated consolidated statement of profit and loss for the year X 5 of Company A and its subsidiaries? (10\%)
Answers
The net profit from controlling interests on the consolidated statement of profit and loss for the year X5 of Company A and its subsidiaries can be calculated using the following steps.
What are the steps?1. Calculate the net profit of Company B:
- Start with Company B's equity on January 1, X5, which includes common share capital of $60,000 and retained earnings of $40,000.
- Subtract the net loss incurred by Company B in X5, which is $10,000.
- The resulting net profit of Company B is $90,000 ($60,000 + $40,000 - $10,000).
2. Calculate the depreciation on the investment in Company B:
- The equipment acquired in the acquisition can still be used for ten years from the date of acquisition.
- Calculate the annual depreciation expense by dividing the acquisition cost ($90,000) by the remaining useful life (10 years).
- The annual depreciation expense is $9,000 ($90,000 / 10 years).
3. Calculate the net profit from controlling interests:
- Start with Company A's own net profit in X5, which is $150,000.
- Add the net profit of Company B ($90,000) and subtract the depreciation on the investment in Company B ($9,000).
- Subtract the account payable from Company B to Company A ($18,000).
- The net profit from controlling interests on the consolidated statement of profit and loss for the year X5 of Company A and its subsidiaries is $213,000 ($150,000 + $90,000 - $9,000 - $18,000).
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If Puddle Incorporated had total Accounts Receivable at the end of 2019 of $630 million and an allowance for uncollectible accounts of $16 million show the effect of the following in the accounting equation worksheet for 2020:a. Calculate how much customers actually owe to Puddle at the end of 2020.b. Calculate how much is estimated will not be collected by Puddle at the end of 2020.c. State how much expenses increased due to the estimate of uncollectible accounts.d. How much would Puddle show as the amount they actually plan to collect (Accounts Receivable, Net)
Answers
a. The amount (Accounts Receivable) that customers actually owe Puddle Incorporated at the end of 2020 is $741 million.
b. At the end of 2020, it is estimated that Puddle Incorporated will not collect (Allowance for Uncollectible Accounts) $22.23 million.
c. Bad Debt Expenses increased to $20.23 million.
d. The amount that Puddle Incorporated will show as the amount that they actually plan to collect (that is the Accounts Receivable, Net) is $718.77 million.
Data and Calculations:
Sales on credit in 2020 = $4,315 million
Collections during 2020 = $4,190 million
Uncollectible accounts written off during 2020 =$14 million
Allowance for uncollectible accounts = 3% of total accounts receivable= $22.23 million ($741 million x 3%)
The following T-Accounts are used to calculate the requirements for a), b), and c) and the amounts are in millions.Accounts Receivable
Account Titles Debit Credit
Beginning balance $630
Sales Revenue 4,315
Cash $4,190
Allowance for Uncollectible 14
Ending balance $741
Allowance for Uncollectible Accounts
Account Titles Debit Credit
Beginning balance $16
Accounts Receivable $14
Bad Debts Expense $20.23
Ending balance $22.23
Bad Debts Expense
Account Titles Debit Credit
Allowance for Uncollectibles $20.23
Accounts Receivable, Net
Accounts Receivable ending balance $741
Allowance for Uncollectible accounts (22.23)
Amount planned to collect $718.77
Thus, Puddle Incorporated plans to collect $718.77 million in 2021 from past sales to customers but may collect more or less.
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FILL THE BLANK. Companies that price products low worldwide in attempt to build global sales volume as rapidly as possible are implementing ______ pricing.
Answers
Companies that price products low worldwide in an attempt to build global sales volume as rapidly as possible are implementing penetration pricing.
Penetration pricing is a strategy in which companies set low initial prices for their products or services in a new market to quickly capture market share and attract customers.
The goal is to stimulate demand, gain a competitive advantage, and establish a strong presence in the market. By offering lower prices than competitors, companies aim to entice customers to choose their products or services over alternatives.
While the initial profit margins may be lower, the strategy focuses on long-term profitability through increased market share, customer loyalty, and potential upselling or cross-selling opportunities. Penetration pricing can be particularly effective in price-sensitive markets or when introducing new products where rapid adoption is crucial for success.
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Can I Plss get some help on this
Answers
The reason the government monitors the size of the money supply is so that they can maintain stability and limit inflation.
Why should money supply be monitored?Money supply impacts the level of inflation in a country and therefore the stability of the nation as inflation is tied to economic stability.
The government would therefore try to maintain a level of money supply that leads to an inflation rate that is not too high or low, but will contribute to economic growth.
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Qualified Business Income (QBI) Deduction (LO 4.10)Rob operates a small plumbing supplies business as a sole proprietor. In 2018, the plumbing business has gross business income of $421,000 and business expenses of $267,000, including wages paid of $58,000. The business sold some land that had been held for investment generating a long-term capital gain of $15,000. The business has $300,000 of qualified business property in 2018. Rob's wife, Marie, has wage income of $250,000. They jointly sold stocks in 2018 and generated a long-term capital gain of $13,000. Rob and Marie have no dependents and in 2018, they take the standard deduction of $24,000.The income threshold for QBI limitations starts at $315,000 for married filing jointly taxpayers.a. What is Rob and Marie's taxable income before the QBI deduction?$b. What is Rob and Marie's QBI?$154,000What is Rob and Marie's QBI deduction?$** Please give explanation and not just the answer. Thank you! **
Answers
Answer:
a. What is Rob and Marie's taxable income before the QBI deduction?
Rob and Marie's taxable income = Marie's wages + long term capital gains - standard deduction = $250,000 + $13,000 - $24,000 = $239,000
b. What is Rob and Marie's QBI?
QBI = total business income - total business expenses = $421,000 - $267,000 = $154,000
What is Rob and Marie's QBI deduction?$
the maximum possible QBI deduction is 20% of the QBI, but it starts to phase out if the couple's other income is more than $315,000 (currently the phase out threshold is a little higher $326,600). Since their taxable income is lower than the threshold, they can deduct the maximum amount = $154,000 x 20% = $30,800
What benefits might citizens of a Centrally Planned economy derive from a move toward a marked based system?
Answers
Citizens in a Centrally Planned Economy benefit from a shift toward a marked-based system. Higher economic growth, Increased access to products and services, More freedom and choice.
1. Higher economic growth: Transitioning to a market-based economy promotes competitiveness and efficiency, which can lead to increased economic growth.
2. Increased access to products and services: As the economy shifts toward a market-based system, residents will have more access to a broader range of goods and services, including imported commodities.
3. More freedom and choice: In a market-based economy, individuals have greater flexibility to pick whatever products and services they wish to buy, as well as more freedom to engage in a variety of economic activities.
4. Improved entrepreneurial incentives: A market-based economy may give incentives for entrepreneurs to innovate and produce new goods and services, resulting in increased economic growth and development.
5. More effective resource allocation: A market-based system supports efficient resource allocation since prices represent the real worth of commodities and services in the economy. This has the potential to boost economic efficiency.
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A couple weeks ago, Alex saw her boss stealing money out of the cash register. Her boss noticed that Alex saw. Alex planned to tell one of the other managers the next day, but when she came in for work, her boss pulled her aside and told her that she should keep her mouth shut if she wanted to keep her job, because she would be blamed for the missing money if she told anyone what she saw. Alex's boss is using what unethical communication practice discussed in our lectures from this week
Answers
Answer:
The answer is "Coercion".
Explanation:
Its legislative concept of coercion between both the states was reasonably uniform: utilizing bullying and threats to force (or inhibit) individuals to do something they have and do not have a legal right to. It implies that helping a person, through threatening his security and well or those of his family or property, which we usually should not do.
Scholarships are only awarded to students with limited financial resources.
A. True
B. False
Answers
Mark the example as ethical behavior, unethical behavior, or conflicts of interest:
Piper lies about the amount of toxic chemicals released into the air during
production
Unethical Behavior
Conflict of Iverest
Ethical Behavior
Answers
Answer:
Just here to keep the question going
Explanation:
Answer:
the answer is unethical behavior
Explanation:
Sorting a list by region before printing might help a company save money with
postal costs
production costs
labeling costs
printing costs
Answers
it helps a company save money with POSTAL COSTS
_____ refers to the process of forming impressions of others. This includes judgments of appearance, attractiveness, personality traits, and even recognizing others.
Answers
Social perception refers to the process of forming impressions of others. This includes judgments of appearance, attractiveness, personality traits, and even recognizing others.
When perceiving others, we often rely on visual cues such as facial expressions, body language, and clothing to make initial judgments. These cues can provide information about a person's emotions, intentions, and social status. Additionally, we may also consider verbal cues, such as speech patterns and content, to assess a person's intelligence, confidence, or friendliness.
Social perception is not limited to physical attributes but also encompasses the interpretation of behaviors and actions. We infer personality traits and underlying motivations based on observed behaviors, allowing us to make predictions and judgments about a person's future actions.
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Which of the following statements is a strong reason for giving credit to sources of data in a formal business doccument
Answers
Answer:
It shows you have done solid research to back up your conclusions.
Multiple choice options for this question are as follows: online source
A). It shows you have done solid research to back up your conclusions.
B). Readers of a business document do not pay attention to sources
C). Giving credit is easier than treating others' ideas as your own
D). It is a requirement of MLA and APA styles
Explanation:
Giving credit to your sources is a phrase that refers to Referencing or citing the source of your information. It is important to the reader or user of the document because they can always go back and verify the data's accuracy. Referencing also leaves a trail that can be used to see the views and opinions of other business people or researchers .
Giving credit to your sources in a formal business document shows you took the time to research the subject matter. It gives the impression that you can relate your ideas to the views of other professionals in the industry.
Answer:
A). It shows you have done solid research to back up your conclusions
Explanation:
Question:What is the main causes of a change in quantity demanded?Demand:Competition and technology can revolutionize the way a product or service is delivered and can cause the price for a product to fall as it becomes profitable at lower prices to make the product. The change is supply can rise in the event of a natural disaster or a government trade war can make the prices rise to reflect a greater scarcity in supply than beforehand.
Answers
A change in the exact quantity of a product that customers are willing and able to purchase is referred to as a shift in the quantity demanded. A change in pricing is what led to this shift in the quantity demanded.
What is the main cause of a change in quantity demanded?Demand: A product's price may drop when it becomes more profitable to produce the product at lower prices as a result of competition and technology, which may also alter the way a good or service is delivered.
In the event of a natural disaster or a government trade war, supply may increase, causing prices to increase to reflect a higher shortage in supply than before.
An entire demand curve might shift right or left due to changes in variables like average income and preferences. As a result, the quantity demanded at a given price can be larger or lower. The prevailing view presumption. Assuming no other parameters change, demand curves link the prices and quantities required.
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CAN YALL PROMISE ME U WILL BE NICE TO EVERYONE please and thx
Answers
Answer: yes
Explanation: because yes
Suppose the u. S. Treasury offers to sell you a bond for $3,000. No payments will be made until the bond matures 10 years from now, at which time it will be redeemed for $5,600. What interest rate would you earn if you bought this bond at the offer price?.
Answers
Suppose the u. S. Treasury offers to sell you a bond for $3,000. No payments will be made until the bond matures 10 years from now, at which time it will be redeemed for $5,600. The interest rate will be 6.44% if you bought this bond at the offer price.
The total interest on a loaned or borrowed sum is determined by the principal amount, the interest rate, the frequency of compounding, and the period of time the loan, deposit, or borrowing took place.
Interest rates affect borrowing costs and spending choices made by people and businesses, which is one way they are important. For instance, lower interest rates might entice more individuals to take out a mortgage for a new home, borrow money for a car, or make improvements to their homes.
A = \(P(1+r)^{t}\)
Where;
A = final value of a bond
P = Initial value of a bond
t = time of investment
r = yearly interest rate.
Making r the subject of the formula.
\((1+r)^{t}\) = \(\frac{A}{P}\)
1+r =\(\frac{A}{P}^\frac{1}{t} }\)
r =\(\frac{A}{P}^\frac{1}{t} }\) - 1 ............1
Given,
A = $5600
P = $3000
t = 10 years
Substituting the values, we have.
r = \(\frac{5600}{3000} ^{\frac{1}{10} }\) - 1
r = 0.0644
r = 6.44%
The interest rate is 6.44%.
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Katie Company had 40,700 shares of $2 par value common stock outstanding prior to a 40% common stock dividend declaration and distribution. The market value of the common stock on the declaration date was $10. Which of the following statements incorrectly describes the effect of recording the common stock dividend?Additional Paid in capital increased $130,240.Total stockholders' equity remained the same.Additional paid-in capital remained the sameRetained earnings decreased $32,560.
Answers
The statement "Additional paid-in capital remained the same" incorrectly describes the effect of recording the common stock dividend.
When a company declares a stock dividend, it distributes additional shares of stock to its existing shareholders. As a result, the total number of shares outstanding increases, but the proportional ownership of each shareholder remains the same.
In this case, Katie Company had 40,700 shares of $2 par value common stock outstanding before the dividend declaration. With a 40% stock dividend, an additional 16,280 shares (40% of 40,700) would be distributed. After the dividend, the total number of shares outstanding would be 57,980 (40,700 + 16,280).
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Based on the details of the scenario, determine what will most likely occur. Jillian and Chase are making a contract in which Jillian ships beaver pelts to Chase, who then makes the pelts into hats to sell. A year into their contract, it becomes illegal to buy or sell beaver pelts in the U.S.
Answers
Answer: Contract is voided
Explanation:
From the question, we are informed that Jillian and Chase are making a contract in which Jillian ships beaver pelts to Chase, who will then makes the pelts into hats to sell.
We are further told that a year into their contract, it becomes illegal to buy or sell beaver pelts in the United States. Based on the scenario explained, the contact will be voided.
A void contract is referred to as a formal agreement that cannot be enforceable and is not legitimate. Since it is illegal to either purchase or sell beaver pelts, it means that the context cannot be carried out anymore and should the be void.
a)Sold goods to Kriti on credit costing Rs. 8,000 for Rs. 10,000.
b)Paid salary in advance Rs. 15,000.
c)Rent outstanding Rs. 2,000.
d)purchased furniture for Rs. 12,000 giving Rs. 4,000 in cash and balance on credit.
e)furniture purchased and paid by cheque rs10,000.
:journal entry.
Answers
Answer:
Here are the journal entries for the given transactions:
a) Sold goods to Kriti on credit costing Rs. 8,000 for Rs. 10,000.
Debit: Accounts Receivable (Kriti) 10,000
Credit: Sales Revenue 10,000
Debit: Cost of Goods Sold 8,000
Credit: Inventory 8,000
Copy
b) Paid salary in advance Rs. 15,000.
Debit: Prepaid Salary 15,000
Credit: Cash 15,000
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c) Rent outstanding Rs. 2,000.
Debit: Rent Expense 2,000
Credit: Accrued Rent Payable 2,000
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d) Purchased furniture for Rs. 12,000 giving Rs. 4,000 in cash and balance on credit.
Debit: Furniture 12,000
Credit: Cash 4,000
Credit: Accounts Payable 8,000
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e) Furniture purchased and paid by cheque rs10,000.
Debit: Furniture 10,000
Credit: Cash (or Bank if paid by cheque) 10,000
Identify and explain the 3 main benefits of using celebrity endorsements
Answers
Celebrity endorsements can be a powerful tool for brands to enhance their marketing and advertising strategies. Here are the three main benefits of using celebrity endorsements:
1. Increased brand visibility: Using a celebrity to endorse a product or service can help a brand reach a wider audience. Celebrities have a massive fan following and their endorsement can give brands greater visibility and exposure to potential customers who may not have been aware of the brand before.
2. Increased credibility and trust: Celebrity endorsements can also help build credibility and trust for a brand. When a celebrity endorses a product, it can help to create a positive association in the minds of consumers. This can lead to increased trust in the brand, and ultimately, greater sales.
3. Stronger emotional connection with consumers: Celebrities have the power to evoke emotions in consumers, and using a celebrity endorsement can help brands create a stronger emotional connection with their target audience. This emotional connection can lead to greater brand loyalty, as consumers feel a deeper connection to the brand and are more likely to continue to purchase its products or services.
Overall, celebrity endorsements can be an effective marketing tool for brands looking to enhance their visibility, build credibility and trust, and create a stronger emotional connection with their target audience.
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What levels of risk does investing in the stock generally carry
medium
medium, high,
low, high
or low?
Answers
Low, high levels of risk does investing in the stock generally carry. Over the long term, stocks have the highest potential for growth for investors. Investors who have chosen to hold onto stocks for an extended length of time—say let's 15 years.
Typically been rewarded with robust, profitable returns. Utilize your associated banking account to open a risk and trading account. Access that trading account. Choose the shares you want to purchase or sell. Make sure you have the necessary investing funds in your account to purchase the shares stocks. taking dividends in— Many stocks distribute dividends, which are based on the company's earnings per share.
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exeter company has a materials standard of 1 pound per unit of output. each pound has a standard price of $26 per pound. during july, exeter paid $66,796 for 2,530 pounds, which it used to produce 2,410 units of product. what is the direct materials price variance?
Answers
The difference between the standard cost and the real cost for the precise quantity of materials purchased is known as the direct material price variation.
Direct material price variation is one of the two elements that make up the direct material total variance, the other being the direct material usage variance. It might also be determined by multiplying: the difference between the usual price and the real per unit cost of direct material, as well as the actual amount of direct material purchased.
The $3,120 adverse direct material quantity variance
Here is how the direct material amount variance was calculated:
Standard pricing = (Standard Quantity - Actual Quantity)
= (2410 units × 1 pound per unit - 2530 pounds) × $26 per pound
= (2410 pounds - 2530 pounds) × $26 per pound
= $3,120 unfavorable
Consequently, the unfavorable direct materials quantity variance is $3120.
Because the real pounds are more than the average one, it is not good.
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Type the correct answer in the box. Spell all words correctly.
What need is influenced by an individual’s personality, culture, and environment?
______ are needs that are influenced by an individual’s personality, culture, and environment, while needs are essential to human life.
Answers
Answer:
WANTS are those needs(things that u don't need that moment like cars etc) which influence one personality, culture and environment.