1. (a) if the utility of a consumer is given by U= min(x1, 3x2) where P1=2 and P2=4 and budget m=$100, find the utility-maximizing bundle for the consumer. Draw a diagram to relate to your working.
(b) If technology available to a firm allows it to produce output y by y=x1^(1/3)*x2^(1/3) and price of output per unit in a competitive market is $20, where cost of input x1 is $9 and cost of input x2 is $3 per unit, find out the profit-maximizing output level along with optimal amounts of inputs x1 and x2 in the long run.
Answers
If the utility of a consumer is given by U= min(x1, 3x2) where P1=2 and P2=4 and budget m=$100, the utility-maximizing bundle for the consumer is to buy either x1 or 3x2 which maximizes utility such that x1 = 3x2. Since, 3x2 is cheaper (as P2 is $4 and P1 is $2),.
The consumer spends his entire budget on 3x2, since he will not have the means to purchase more x1 than he already has. Hence the optimal consumption bundle will be (since the budget is $100 and price of x2 is $4, the consumer can buy only 25 units of x2 and 5 units of x1 which costs $15). The firm’s profit is given by the difference between the revenue earned and the cost incurred. The profit function is written as The profit maximizing output level will be where MR = MC = p. Since the market price is given as $20, we can find MR from the inverse demand equation .
Therefore, the firm’s profit function is: Applying the first-order condition of the profit maximization, we obtain: From the two first-order conditions above, we can get: Using the above two equations we get: 2Substituting this value in the cost function: Therefore, the profit function becomes : We find the value of x2 that maximizes the profit function as follows: The optimal amount of input x1 is obtained using the equation .
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Related Questions
T/F : When identifying key assumptions about your venture, two key areas to consider are team formation and the decision-making unit.
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True. When identifying key assumptions about your venture, it is crucial to consider two key areas, which are team formation and the decision-making unit. The success of any business venture is highly dependent on the team's ability to work together and make effective decisions.
Therefore, it is important to ensure that the team members have the necessary skills, experience, and qualifications to carry out the tasks required. Additionally, the decision-making unit should be identified, and it should include all relevant stakeholders who will be involved in making critical decisions about the venture. This will help to ensure that all important factors are considered, and the decisions made are in the best interest of the business. True, when identifying key assumptions about your venture, two key areas to consider are team formation and the decision-making unit. Team formation refers to how you assemble and manage your team, ensuring that members have the necessary skills, expertise, and roles to execute your business strategy. The decision-making unit encompasses the process of making strategic choices, including establishing objectives, evaluating alternatives, and selecting the best course of action. Identifying assumptions in these areas helps you address potential challenges and adapt your venture to changing conditions, leading to a more robust and successful business.
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2 W S X X command Questio (14 points) United Airlines is considering adding a new hub operation in Blue Lagoon. The finance group at UAL has gathered the following data. They have hired you as a Finance consultant to help them determine their cost of capital . Current stock sells at $30 per share with 30 million shares outstanding Debt of $1.8 billion was issued with a 4% coupon two years ago, and is now trading at 102 UAL pays an annual dividend of $2.40 this year, growing at 3% per year • The current risk free rate is 2%, UAL's Beta is 1.5, the market return is 8% UAL pays a corporate tax rate of 21% What debt and equity weights will United use to calculate WACC What is United's cost of deb e. What is United's cost of common equity? What is United's WACC ( * 4 5 6 m. E D C R F V T G B Y H 7 U J 8 M 1 K 9 0 3 L < F command 0 P > Y T option ( 1 RHIN ÄÄÄ
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To calculate the weighted average cost of capital (WACC) for United Airlines (UAL), we need to determine the weights of debt and equity in their capital structure.
1. To calculate the weights of debt and equity, we need to determine the values of each component. The equity value is calculated by multiplying the number of shares outstanding (30 million) by the share price ($30), resulting in $900 million. The debt value is given as $1.8 billion, and since it is trading at 102% of its face value, the current market value is $1.836 billion.
The total capitalization is the sum of the equity value and debt value, which gives us $900 million + $1.836 billion = $2.736 billion. To calculate the weights, we divide the respective values by the total capitalization. The debt weight is $1.836 billion / $2.736 billion = 67.19%, and the equity weight is $900 million / $2.736 billion = 32.81%.
2. The cost of debt is determined using the coupon rate and the current market price. In this case, the coupon rate is 4% and the market price is 102, so the cost of debt is (4% * 102%)/102% = 4%.
3. The cost of common equity is calculated using the Capital Asset Pricing Model (CAPM), which takes into account the risk-free rate, UAL's beta, and the market return. The risk-free rate is given as 2%, UAL's beta is 1.5, and the market return is 8%. Applying the CAPM formula, the cost of common equity is 2% + (1.5 * 8%) = 14%.
4. Finally, the WACC is determined by multiplying the cost of debt by the debt weight and adding it to the cost of equity multiplied by the equity weight. In this case, the WACC for UAL is (4% * 67.19%) + (14% * 32.81%) = 7.527% + 4.595% = 12.122%.
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References Mc Graw Hill 1. Break-even point in unit sales 2. Break-even point in dollar sales 3. Break-even point in unit sales 3. Break-even point in dollar sales Saved < Prev Mauro Products distributes a single product, a woven basket whose selling price is $10 per unit and whose variable expense is $8 per unit. The company's monthly fixed expense is $3,200. MacBook Pro Required: 1. Calculate the company's break-even point in unit sales. 2. Calculate the company's break-even point in dollar sales. (Do not round intermediate calculations.) 3. If the company's fixed expenses increase by $600, what would become the new break-even point in unit sales? In dollar sales? (Do not round intermediate calculations.)
Answers
The break-even point in unit sales is 1,600 units, and the break-even point in dollar sales is $16,000.
What is the break-even point in unit sales and dollar sales for Mauro Products?The break-even point is a critical measure in business that determines the level of sales needed to cover all costs and achieve a net income of zero. In this scenario, Mauro Products sells a woven basket for $10 per unit with variable expenses of $8 per unit and fixed expenses of $3,200 per month.
1. To calculate the break-even point in unit sales, we divide the fixed expenses by the contribution margin per unit. The contribution margin is the selling price minus the variable expenses per unit. In this case, the contribution margin is $10 - $8 = $2. The break-even point in unit sales is $3,200 / $2 = 1,600 units.
2. To calculate the break-even point in dollar sales, we multiply the break-even point in unit sales by the selling price per unit. In this case, the break-even point in dollar sales is 1,600 units x $10 = $16,000.
3. If the fixed expenses increase by $600, the new break-even point in unit sales can be calculated by dividing the increased fixed expenses ($3,200 + $600 = $3,800) by the contribution margin per unit ($2).
The new break-even point in unit sales is $3,800 / $2 = 1,900 units. To calculate the new break-even point in dollar sales, we multiply the new break-even point in unit sales (1,900 units) by the selling price per unit ($10), resulting in $19,000.
Therefore, the new break-even point in unit sales is 1,900 units and the new break-even point in dollar sales is $19,000.
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On day two of PI Planning, management presents adjustments based on the previous day's management review and problem solving meeting. What is one possible type of adjustment they could make
Answers
Answer:
The appropriate solution is " Business priorities".
Explanation:
Business priorities become the unique selling point, demonstrated thru all the work environment to somehow be accomplished that alone satisfies, as well as its profit procedure how well the corporation would be coordinated to generate profits. Responsibilities or expectations are perhaps the most significant so even though individuals guide the performance of the organization.This questions probably on here already but whatever...
Match the type of account to the correct description.
Answers
Answer:
1. Basic bank savings account.
2. Club account.
3. Checking account.
4. 529 plan.
5. CD
Explanation:
Savings can be defined as the amount of money left after removing expenses and other costs.
Investments are costs associated with purchasing of capital assets and investments of cash resources in other businesses.
1. Basic bank savings account: it's a deposit account that offers an account holder a low interest rate, checkbooks aren't issued, and the holder is posed with few restrictions on access to his or her money.
2. Club account: it's an account used to save money for a specific purpose or special reason such as vacation, tourism, college, etc.
3. Checking account: it's a type of deposit account that is designed to make it convenient for the holder to pay bills easily.
4. 529 plan: a 529 plan is a tax-free savings account which avails an individual or account holder (sponsor) to make payment in advance with respect to educational expenses that would be incurred by a student (beneficiary) in the future. This plan is mainly sponsored by state agencies or the state itself and it is authorized by Section 529 of the Internal Revenue Code and mainly sponsored by the states to encourage savings for future educational costs.
5. Certificate of deposit (CD) can be defined as a secured form of time-bound deposit and a special low-risk savings account, wherein money (lump-sum) are left with the bank for a specific period of time in exchange for an interest rate premium.
Generally, a certificate of deposit pays a higher interest rate to its holder than the regular savings account because the banks invest the money in a business.
Additionally, the bank certificate of deposit is protected and insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000.
If an economy is in a steady state with no population growth or technological change, and the marginal product of capital is less than the depreciation rate:
A) the economy is following the Golden Rule.
B) steady-state consumption per worker would be higher in a steady state with a lower saving rate.
C) steady-state consumption per worker would be higher in a steady state with a higher saving rate.
D) the depreciation rate should be decreased to achieve the Golden Rule level of consumption per worker.
Answers
Answer:
B) steady-state consumption per worker would be higher in a steady state with a lower saving rate.
Explanation:
In the case when the economy is in the steady state along with there is no growth in the population or no change in technology so the marginal product of capital would be lowered than the depreciation rate as the steady sate consumption per worker would be more than the steady state having less saving rate
Therefore the option b is correct
Below are the financial data for a company over the last year. Calculate the Inventory Turnover ratio. total sales $32,164,000 total credit sales $18,895,000
net income $6,345,000
cost of sales $9,932,000
total assets $7,233,000
average invertory $1,577,000
average receivables $3,744,000
a) 2.3
b) 6.3
c) 5.0
d) 4.4
e) 8.8
Answers
The Inventory Turnover Ratio is 6.3. Hence the correct option is b).
The Inventory Turnover ratio measures the efficiency of a company's inventory management by calculating how many times the company's inventory is sold and replaced over a specific period. The formula for calculating the Inventory Turnover ratio is:
Inventory Turnover Ratio = Cost of Sales / Average Inventory
We are given
cost of sales = $9,932,000
average inventory = $1,577,000
Putting these values in the formula above, we get
Inventory Turnover Ratio = $9,932,000 / $1,577,000
Inventory Turnover Ratio = 6.3
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There is much debate about whether the u. S. Government should eliminate the penny from circulation and instead round all prices to the nearest 5 cents for everyday cash transactions. Which function of money does a penny not serve well?.
Answers
Function of money does a penny not serve well Medium of Exchange.
What is penny?
In some nations, a penny is either a coin or a unit of currency. It was derived from the Carolingian denarius and is typically the smallest unit of currency in a system. At the moment, it serves as the official designation for the British penny, the de facto name for the American one-cent coin, as well as the informal Irish name for the one-euro coin. Despite the fact that one-cent coins are no longer produced in Canada, it is the informal name for the cent unit of account in that country. The French denier and the German pfennig are two examples of historical currencies bearing this name that were also derived from the Carolingian system. It can also be used colloquially to refer to any comparable lowest-denomination coin, like the Chinese fen or the euro cent.
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When a capital budgeting decision does not involve any revenues, the most desirable alternative is the one with the ______.
Answers
Answer: least total cost from a present value perspective
Explanation: trust me
A Sign That Ethics Has Become A Primary Concern For Boards Of Directors Is That Multiple Choice Directors Area. More Often Chosen For Their Political Connections Than For Their Expertise b. Modern Executive Compensation Is Closely Linked To The Firm's Employee Retention Rate. C. Poor Financial Performance Is The Most Common Reason For CEOs To Be Fired Saved Help
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Modern executive compensation is closely linked to the company's employee retention rate.
To elaborate: Ethical behavior toward employees is one of the primary responsibilities of the Board of Directors. They shouldn't be fired for little things. They should be given a chance to grow and develop.
2. the environment in which a manager works In addition to their social and ethical responsibilities, managers need to be aware of the environment in which they operate. If the business is to be viable and successful in the long run, they must take into account all of these factors.
What does "Board of Directors" mean?A board of directors is a group of people who represent the interests of shareholders. In addition, it offers advice to an organization's chief executive officer and executive team. A board provides general oversight of operations without getting involved in the day-to-day operations.
The hiring of the company's CEO or general manager and the evaluation of the company's overall strategy and direction are the board of directors' primary responsibilities. The CEO or general manager is responsible for hiring all other employees and overseeing the business's day-to-day operations.
The majority of the board of directors consists of the chief executive officer and occasionally other senior managers, as well as board members who are not otherwise associated with the company. The most common definition of an inside director is an employee of the company, though significant shareholders may also be included from time to time.
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Walter is in dire need of $482. Out of other alternatives, he decides to take a cash advance on his credit card. His credit card has a cash advance fee of 3.4%. How much is his advance fee?
Answers
Walter needs $482 in urgent, and his credit card has a cash advance fee of 3.4%. Hence, his advance fees would be 3.4% of $482 which is $16.39.
What does place when you obtain a cash advance?A cash advance is a loan that your credit card company provides. When you obtain a cash advance, you are borrowing funds from the available credit on your credit card. This loan must be repaid, and the amount transferred cannot be greater than the balance that is currently available on your credit card.
What dangers exist with cash advances?When you take out a cash advance, especially one for a sizable sum, your utilization rate may rise, which could lower your credit score. One of the risks of credit card cash advances is a lower credit score. Cash advance grace periods do not exist.
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When you plan a presentation, how should you make sure you stay on track as you talk?
A. Make a list of general topics and points you want to cover.
B. Write out every word of the presentation on notecards.
C. Memorize every word of the presentation in your head.
D. Have the audience tell you what else you need to talk about.
Answers
Answer:
A make a list
Explanation:
Answer:
It's A. Make a list of general topics and points you want to cover.
Explanation: hope it helps ^w^
you are the ceo of a large school bus company. you just figured out that you have to let one of your drivers go. you want to use the objective criteria of on-time performance to decide which of your two most recent hires to lay off. suppose the two most recent hires were both an average of five minutes late. what kind of additional information might help you decide which driver to lay off? the records that follow show the actual arrival times for both drivers during the first two weeks of this school year. use this information to choose which driver to lay off. (note: this is an exploratory exercise. there are no right or wrong answers.)
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Using the information provided, I would need to analyze the actual arrival times for both drivers during the first two weeks of the school year to determine which driver to lay off based on on-time performance.
What is the CEO's role?The CEO, or Chief Executive Officer, is the company's or organization's highest-ranking officer. Their major responsibility is to give the organization overall leadership, strategic vision, and direction. They are in charge of defining the company's goals, devising and implementing strategies to attain those goals, and making long-term choices that affect the company's performance. Furthermore, the CEO is in charge of monitoring the organization's day-to-day operations, managing the company's finances, and ensuring compliance with relevant laws and regulations. The CEO is also responsible for representing the firm to investors, consumers, and other stakeholders, as well as for developing and maintaining connections with important partners and stakeholders.
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an owner was selling his own home. can he advertise the down payment?
Answers
The ability to advertise the down payment on a home for sale depends on various factors, including local laws, regulations, and the specific circumstances of the sale. In general, if the owner is selling their own home without involving a real estate agent or broker, they may have more flexibility in advertising and disclosing the terms of the sale.
However, it's important to note that advertising the down payment alone may not provide sufficient information to potential buyers. When advertising a home for sale, it is common and recommended to provide comprehensive details about the property, including the price, financing options, terms of the sale, and any relevant disclosures.
It's advisable for the owner to consult local real estate laws, regulations, and ethical guidelines to ensure compliance when advertising their home for sale. Additionally, seeking legal advice or working with a real estate professional can provide further guidance on the advertising process and legal requirements specific to their jurisdiction.
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Expanding Access to Capital for Rural Job Creators Act.
Answers
The Expanding Access to Capital for Rural Job Creators Act would require the Securities and Exchange Commission to submit an annual file on the capital challenges rural small groups face and enable Congress to decide if legislative action is needed.
Expanding Access to Capital for Rural Job Creators Act.U.S. Congressman Henry Cuellar’s (D-TX-28) bipartisan Expanding Access to Capital for Rural Job Creators Act handed in the House of Representatives. Congressman Alex X. Mooney (R-WV-2), Congressman Chris Pappas (D-NH-1), and Congresswoman Teresa Leger Fernandez (D-NM-3) co-sponsored the Act to survey the issues small groups in rural areas face when attempting to get right of entry to capital.
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Explain effective demand in your
own words
Answers
Explanation:
Effective demand refers to a situation in which equilibrium output is determined solely by the level of aggregate demand. This is because of the assumption that supply is perfectly elastic. If there exists any difference between AD and AS, the equilibrium output will be determined only by AD.
A city property tax bill of $5,000 for a person in the 25% tax bracket results in:
A. a federal income tax savings of $1,250 for the taxpayer
B. a reduction of $5,000 in taxable income for the taxpayer
C. an extra $1,250 for the federal government
Answers
Answer:
Explanation: The right answer is A, which represents a taxpayer savings of $1,250 in federal income taxes.
A taxpayer in the 25% tax rate can deduct $5,000 of their property tax payments from their taxable income. As a result, their taxable income is decreased by $5,000. The deduction amount multiplied by the taxpayer's marginal tax rate of 25% results in the amount of federal income tax that is avoided as a result of this deduction. So, the taxpayer saves $1,250 in federal income taxes.
Answer: I may be wrong but I think b
Explanation:
what can a country use to counteract a country that uses subsidies to support an industry? multiple choice question. engage in a licensing deal establish anti-dumping regulations establish export tariffs reduce local content requirements
Answers
The answer is is option a. engage in a licensing deal , it is what a country use to counteract a country that uses subsidies to support an industry.
What do import and export mean?Sending products and services from one country to another is referred to as exporting. In a similar vein, importing products and services entails getting them from a foreign market and bringing them back home.
What kinds of exports are there?Direct exporting and indirect exporting are the two basic types of exporting. A sort of exporting called direct exporting involves a corporation selling its goods directly to customers abroad. A sort of exporting known as indirect exporting is carried out by businesses that sell goods to other nations through an intermediary.
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THERE ARE TEN BUTTONS ON THE TABLE
Answers
Answer:
what
Explanation:
..............................cool................
The Natural rate of unemployment is: A. Structural unemployment rate plus frictional unemployment rate. B. The actual rate minus the cyclical rate C. A and B Leaning towards A
Answers
Rural or countryside destinations are those in mare remote + less dently populated Example: Fjords of Norway.
Example: Calangute in Goa, India
Coastal destinations are located on the coast
Island destinations attract visitors with their exotic images
MEDC:
LEDC:
Reasons Why People Travel
Leisure
Business
Key Concept: By adapting to the specific
and tourism industry can definitely be described as
example:
example:
example:
and
(VFR) or
of customer, the travel
Answers
Rural or nation-state locations are the ones in mare far off + much less densely populated via evaluation Very faraway Rural areas include three percent of the populace, however cowl nearly 1/2 of the land place.
A rural area is an open swath of land that has few homes or different buildings, and now not very many people. A rural region's populace density may be very low. Many humans live in a town or urban area. Their homes and companies are placed very close to one another.
In keeping with the modern delineation, released in 2012 and primarily based on the 2010 decennial census, rural areas include open USA and settlements with fewer than 2,500 residents. urban regions comprise larger places and densely settled areas around them. urban regions do not necessarily observe municipal limitations.
A rural area is an open swath of land that has few homes or different buildings, and not very many human beings. A rural area's populace density is very low. Many people stay in a metropolis or urban vicinity. Their houses and corporations are placed very near each other.
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outline 2 advantages to H&H of using secondary market research
Answers
Explanation:
It provides quick information and factual background perspectives
It is less expensive and affordable
Should a business email contain a salutation?
Answers
Answer:
A business email is meant in a professional way. It can be sought out as multiple different approaches, one of them, in this case, can include a friendly and welcoming business approach, including a salutation. All in all, it is up to the writer, there is no fully correct answer. Hope this helps :)
T/F : scheduling the workforce so that the available capacity better matches demand is using time flexibility from the workforce.
Answers
True. Scheduling the workforce so that available capacity better matches demand is indeed using time flexibility from the workforce.
Time flexibility in the workforce is an essential aspect of efficient workforce management. It involves adjusting employees' schedules to ensure that available capacity aligns with demand, leading to optimal resource utilization. By implementing flexible work schedules, organizations can reduce idle time, improve productivity, and better meet customer needs. This may involve strategies like shift rotation, part-time work, and varying start and end times to accommodate demand fluctuations.
Moreover, this approach enables businesses to operate smoothly and maintain high levels of customer satisfaction by ensuring that the right number of employees is available when needed. Overall, time flexibility plays a crucial role in managing workforce capacity and meeting demand effectively.
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Suppose there are only two producers of electronics in the world, HighTech in the United States and Inobeshon in Japan. The following hypothetical payoff matrices show the profits (in millions of dollars) for each company. In the absence of subsidies, if only one company makes semiconductors, it receives a profit of $65 million. If both companies decide to produce, they each lose $2 million. When a company decides not to produce, it earns zero profit. Inobeshon Produce Not Produce Produce -2,- 2 6 5, 0 ligh Tech Not Produce 0,65 0,0 Suppose that Japan considers electronics a strategic industry and gives Inobeshon a $5 million subsidy if it produces. Fill in the cells of the following payoff matrix to reflect the $5 million subsidy. Inobeshon Produce Not Produce Produce High Tech Not Produce With a $5 million subsidy, regardless of whether High Tech produces or not, Inobeshon produce if it wants to maximize its profit. True or False: Because Inobeshon will enter the market if given a $5 million subsidy, HighTech should also produce in this industry. True O False
Answers
False. HighTech should not produce in this industry. If HighTech produces, it earns -2 million, while if it doesn't produce, it earns 0 million. The higher profit (0 million) is achieved by not producing, even if Inobeshon enters the market with a $5 million subsidy.
The original payoff matrix is as follows:
Inobeshon
Produce | Not Produce
---------------------------
HighTech
Produce | -2, -2 | 65, 0
---------------------------
Not Produce | 0, 65 | 0, 0
Now, let's include the $5 million subsidy for Inobeshon:
Inobeshon
Produce | Not Produce
---------------------------
HighTech
Produce | -2, 3 | 65, 0
---------------------------
Not Produce | 0, 70 | 0, 0
With a $5 million subsidy, regardless of whether HighTech produces or not, Inobeshon will produce if it wants to maximize its profit. This statement is true.
True or False: Because Inobeshon will enter the market if given a $5 million subsidy, HighTech should also produce in this industry.
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If an individual has a credit score of 560 and they pay their credit card late once or twice, what might they expect a credit card company to do?(1 point)
Answers
If an individual has a credit score of 560 and they pay their credit card late once or twice, the credit card company may score them low credit score.
What is credit score?Credit score can be defined as what help to measure the credit worthiness of a person as it help to determine whether a person will pay his/her loan within a stipulated time or late.
A late payment credit card may tend to have negative impact on the a person based on the fact that it can lead to the credit card company to score the person low which inturn will affect the person creditworthiness.
Therefore the credit card company may score them low credit score.
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Why would someone choose a balloon mortgage?
Answers
A balloon mortgage is a type of mortgage where a large portion of the loan balance is due at the end of a shorter term, typically 5-7 years.
Some people may choose a balloon mortgage because it typically has a lower interest rate and monthly payment compared to a traditional 30-year mortgage. Additionally, a balloon mortgage may be a good option for someone who plans to sell or refinance their property before the end of the loan term, as they will only have to make smaller payments for a shorter period of time. However, it is important to note that if the borrower is unable to sell or refinance their property by the end of the term, they may be required to pay a large lump sum or refinance with a more traditional mortgage, which could be financially challenging.
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A balloon mortgage may be chosen by those who intend to live in their property for only a little time. It has cheap yearly costs as well as small monthly payments.
Define the term balloon mortgage and its benefits?The option of interest-only payments on balloon mortgages enables borrowers to make small monthly instalments prior to paying a lump sum when it's due.
For certain homebuyers, balloon mortgages have a number of benefits. A balloon mortgage may be chosen by those who intend to live in their property for only a little time. Due to the fact that it is paid off sooner than a normal mortgage, which would take 20 or 30 years to do, it has low monthly payments as well as a significantly reduced overall cost.Some homeowners might want to refinance first before balloon payment due while others may want to stay in their properties.They may be anticipating a bigger income by then and are confident in their ability to handle large payments.To know more about the balloon mortgage, here
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sarah jones's regular rate of pay is $40 per hour with one and one-half times her regular rate for any hours which exceed 39 hours per week. she worked 49 hours last week. therefore, her gross wages werea. $ 2,160b. $1,960c. $2,940d. $1,560
Answers
We need Sarah Jones's regular salary for the first 39 hours and overtime pay for the rest to compute her gross wages. Sarah Jones's gross compensation for 49 hours last week was $2,160. The right answer is A.
For the first 39 hours, Sarah is paid $40 per hour. The regular compensation for those hours is $40 * 39 = $1,560.
For the remaining 10 hours (49 total hours - 39 regular hours), Sarah is entitled to one and one-half times her regular wage, or $40 * 1.5 = $60 per hour.
Overtime pay = overtime hours * overtime rate = 10 * $60 = $600
To compute gross wages, we add regular and overtime pay:
Gross earnings = $1,560 + $600 = $2,160.
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what type of testimony is inappropriate for a health information manager serving as custodian of the record when he or she is called to be a witness in court?
Answers
Personal opinion or speculation is inappropriate testimony for a health information manager serving as a witness in court.
As a custodian of the record, a health information manager has a professional duty to maintain and safeguard medical records.
When called to be a witness in court, their role is to provide accurate and objective information related to the medical records in question.
In this capacity, it is important for the health information manager to present factual and verifiable information based on their knowledge and expertise.
Testimony that involves personal opinions, biases, or speculation is considered inappropriate because it may introduce subjective and unreliable information into the legal proceedings.
The health information manager should focus on presenting facts, interpreting medical records within their scope of expertise, and providing context or clarification when required.
It is essential for the health information manager to maintain professional integrity and adhere to the ethical standards of their role as a custodian of the record.
By providing objective and reliable testimony, the health information manager can contribute to the fair and just resolution of the legal case while upholding the integrity of the healthcare information management profession.
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Question 23
In which of the following occasions would formal rulemaking be used by a federal agency?
In all circumstances when rules are made.
In no circumstances when rules are made.
O When Congress has specifically indicated in the enabling statute that agency rules must be made off the record before a hearing.
When Congress has specifically indicated in the enabling statute that agency rules must be made on the record after a hearing.
Answers
When Congress has specifically indicated in the enabling statute that agency rules must be made on the record after a hearing, formal rulemaking would be used by a federal agency.
Formal rulemaking is a process that involves a public hearing, where interested parties are given an opportunity to present evidence and arguments for or against the proposed rule. The agency must also provide a detailed explanation for its decision and must consider all relevant information and comments submitted during the hearing.
This process is generally used when Congress has mandated that the agency follow a specific rulemaking process for a particular rule or when the rule will have a significant impact on the public or industry. In contrast, informal rulemaking is a more flexible process that involves notice and comment rulemaking, where the agency publishes a proposed rule and invites public comments before issuing a final rule.
This process is typically used for less controversial or technical rules. In summary, formal rulemaking is used when Congress requires it or when a rule is likely to have a significant impact on the public, while informal rulemaking is used for less controversial or technical rules.
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