Durango co. reported the following on the selling and administrative expense budget:salary expense for october $50,000salary expense for november $60,000utilities expense for october $11,000utilities expense for november $9,000depreciation expense per month $40,000salaries are paid in the month they are incurred and utilities are paid in the month after they are incurred. budgeted cash disbursements for selling and administrative expenses for the month of november total ______.
Answers
The total amount that Durango and co has to budget for the administrative expenses in the month of November would be $61000
How to solve for the administrative expenses for NovemberThe administrative expenses would have to be the salary that would be paid in this month.
The salary for the work that was paid in the month of October is going to be paid in this month,
This would be calculated as:
salary expense for October $50,000 + utilities expense for October $11,000
= $61,000
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Related Questions
the major lesson of the circular flow diagram is that
Answers
The major lesson of the circular flow diagram is that total income in the economy must always equal total spending.
What is the circular flow diagram ?The circular flow diagram is a model of the economy that shows how goods, services, and money flow between households and firms. Households supply factors of production (land, labor, and capital) to firms in exchange for income. Firms use this income to pay for the factors of production and to make profits. Households then use their income to purchase goods and services from firms.
The circular flow diagram shows that the economy is a closed system. This means that there is no leakage of money out of the system and no injection of money into the system. This is because all income generated in the economy is spent in the economy.
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What is moral myopia? Why do you think an advertising professional might experience this phenomenon?
Answers
Answer: See Explanation
Explanation:
Moral myopia occurs when someone is unable to clearly see ethical issues. In this case, people decide not to say anything even though they see the unethical behavior of others.
An advertising professional might experience moral myopia in the sense that such person looks away when he or she sees an unethical act because of fear of losing his or her job and also because of fear of losing a customer.
Backed by the u. S. Government, these financial instruments are fixed-rate debt securities with a maturity of more than one year. They are considered default free but are subject to interest rate risk.
Answers
Securities that are backed by the U.S. Government that mature in a period more than a year are called Treasury Notes.
What are Treasury Notes?They are issued by the government as a means to borrow money. They mature in more than a year.Treasury notes are default free which means that they have no default or credit risk. They will however, have interest rate risk because they offer a fixed rate of interest.
In conclusion, these are treasury notes.
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According to the short-run phillips curve, if the central bank increases the money supply, then?
Answers
According to the short-run Phillips curve, if the central bank increases the money supply, then it is expected to lead to a decrease in unemployment in the short run.
The short-run Phillips curve represents the inverse relationship between the inflation rate and the unemployment rate.
When the central bank increases the money supply, it injects more money into the economy, which can stimulate economic activity. This increased money supply can lead to increased spending and investment by businesses and individuals. As a result, the overall level of demand in the economy rises, which can lead to increased production and employment.
In the short run, the increase in aggregate demand can have a positive impact on employment and decrease the unemployment rate. However, it is important to note that this relationship is primarily applicable in the short run. In the long run, the Phillips curve tends to become flatter, suggesting that there is no permanent trade-off between inflation and unemployment.
In the long run, the economy tends to return to its natural rate of unemployment regardless of changes in the money supply or aggregate demand.
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70 of 500 respondents say they would visit a trampoline park. What percentage of respondents is this?.
Answers
Answer:
Should be 14%
Explanation:
70 divided by 500 is 0.14 then move the decimal.
NEED HELP
Employees usually have options for how they will be paid. Most employers offer either a
BLANK or BLANK
, but there are also cases where employees are paid in BLANK
Answers
Hope this helps! :)
which of the following are long-term liabilities? (check all that apply.) multiple select question. common stock 20-year mortgage payable wages payable note payable due in 3 months note payable due in 3 years
Answers
The long-term liabilities among the given options are B: the 20-year mortgage payable and D: the note payable due in 3 years.
Long-term liabilities are financial obligations or debts that are not expected to be settled within the next year. The common stock is not a liability; it represents ownership in the company and is classified as shareholders' equity. Wages payable typically represents short-term liabilities as it pertains to amounts owed to employees for their services and is expected to be settled within a short period. The 20-year mortgage payable and the note payable due in 3 years are examples of long-term liabilities as they involve obligations that extend beyond the next year.
Options B and D are answers.
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Please post detailed answers to the following questions. Please use complete sentences.
You may have noticed that honesty and ethics are important in finance and business careers. Why is this so important?
Answers
Answer:
see below
Explanation:
Ethics are a set of regulations and that guide people's behaviors. They are a set of generally accepted behavior in society. Ethics in business refers to the deliberate efforts to do the right thing.
Honesty and ethics are important in finance and business careers due to the following reasons
Asset Protection and AssuranceFinance and business professionals deal with sensitive information. They have access to financial records, accounting records, and personal shareholders and employees' records. Honesty and integrity are essential to ensure that the reports they present are accurate and reliable.
The majority of fraudulent activities originate from finance and business departments. Having employees of high integrity in those units will help protect business assets and assure the reliability of financial data.
2. Public Image and Brand Value Increases
Honest and ethical workers add to the goods reputation of a company. Business partners and customers will feel more confident transactions with the company. The company's brand image and value increase in the eyes of the public.
3. Team Work develops:
Honest workers have a relatively easy time working with others. Teamwork increases when employees work responsibly and as expected.
Which situations offer examples of Banking and Related Services workers? Check all that apply.
Anna analyzes loan applicants to decide whether to give them loans.
Aaron helps customers put money into and remove money from their accounts.
Jared researches the credit history of people applying for credit.
Tamara reviews the finances of a business to determine whether it is profitable.
Raquel helps individuals and companies prepare their tax forms.
Troy helps a family create a budget to save more money.
Answers
Anna provides loan applicants to decide to give them loans, put money into and remove money from their accounts and Jared researches the credit history, hence options A, B and C are correct.
What are Banking and Related Services workers?The five most significant banking services include checking and savings accounts, loan and mortgage services, wealth management, issuing credit and debit cards, and overdraft services.
An individual who works for a bank and assists customers with standard financial transactions is known as a bank teller or bank clerk.
They do daily tasks that include processing withdrawals, making deposits, and giving customers of bank money orders or cashier's checks.
Therefore, these services also comprise analysis loan applicants with basic features and a device for utilizing the account (such as a debit card and online banking ID), hence options A, B, and C are correct.
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Answer:here the answer for this question
Explanation:edge2023
What types of planning can be done to improve a nation’s economy?
A nation can undergo ____ planning or ___ planning in order to improve its economy.
Answers
Answer:
A nation can undergo long-term planning or constructive planning in order to improve its economy. Long-term planning involves setting goals and implementing policies that will have an impact over a period of several years. This type of planning may involve investments in education, infrastructure, and research and development, among other areas. Constructive planning involves implementing policies that encourage economic growth and development, such as reducing barriers to trade, promoting entrepreneurship and innovation, and investing in key industries. These types of planning can help a nation to create jobs, increase productivity, and improve living standards for its citizens. THANK YOUAnnual gross pay: 19,700 Personal exemption of 3,000 State Tax on first 1,000 1.5%, over 5,0003.5%. What is the graduated state income tax?
Answers
Based on the given information, the graduated state income tax for annual gross pay of $19,700 with a personal exemption of $3,000 would amount to $553.50.
To calculate the graduated state income tax based on the given information, we will apply the specified tax rates to the different income brackets.
Taxable Income = Annual Gross Pay - Personal Exemption
Taxable Income = $19,700 - $3,000
Taxable Income = $16,700
Tax on First $1,000 = $1,000 * 1.5% = $15
Using the tax rate of 3.5%,
Tax on Amount over $1,000 up to $5,000 = ($5,000 - $1,000) * 3.5% = $140
Tax on Amount over $5,000 = ($16,700 - $5,000) * 3.5% = $398.50
Total State Income Tax = Tax on First $1,000 + Tax on Amount over $1,000 up to $5,000 + Tax on Amount over $5,000
Total State Income Tax = $15 + $140 + $398.50
Total State Income Tax = $553.50
So, based on the given information, the graduated state income tax for an annual gross pay of $19,700 with a personal exemption of $3,000 would amount to $553.50.
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the advertising strategy has two sub-strategies. what are they?
Answers
How to get there is described in advertising strategy. The media strategy and the creative strategy are its two substrategies.
A creative strategy is required for the campaign in order to prepare the message, explaining the what, who, and why of the target audience as well as the advantages of the product or programme (why). The campaign needs to concentrate on media strategies once the target audience has been determined and the message has been created. The use of various media, the frequency with which the message is disseminated, and the message and media's continuity are all part of the media strategy. The quantity, size, and duration of advertisements must all be taken into account in media plans.
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which of these options is the real reason why trade can benefit each side in a trading agreement? question 16 options: opportunity cost specialization maximum production absolute advantag
Answers
The real reason why trade can benefit each side in a trading agreement is "comparative advantage."
Comparative advantage refers to the ability of a country, individual, or company to produce a particular good or service at a lower opportunity cost than others. When countries specialize in producing goods or services in which they have a comparative advantage and engage in trade, they can maximize their overall production and consumption.
By focusing on producing goods or services where they are relatively more efficient, countries can increase their productivity and efficiency. This leads to higher output levels and a wider range of available goods and services for both trading partners. Through trade, countries can access goods and services that they may not be able to produce efficiently themselves, allowing them to enjoy a greater variety and quantity of products.
Therefore, the concept of comparative advantage is the key reason why trade can benefit each side in a trading agreement.
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I have $3,000 in credit card debt. If I can pay $150.00 a month, how long will it take to pay it off? My current interest rate is 18%. Remember to include your inputs and round 2 decimal points like we did in module 2.
Answers
Answer:
2 years
Explanation:
Rate = rate per period = 18%/12 = 1.5%
PV = 3,000
PMT = 150
Number of a payment period = NPER(Rate, PMT, -PV, FV)
Number of a payment period = NPER(18%/12, 150, -3000)
Number of a payment period = 23.96 months
Time to payoff loan = 23.96/12
Time to payoff loan = 1.99667
Time to payoff loan = 2 years
If a firm’s management team is under pressure to meet earnings target set by Wall St. analysts this fiscal year, which of the following is most likely to happen:
Management issues more long-term corporate bonds
Management increases Research and Development (R&D) spending
Management increases allowance for uncollectable accounts receivable
Management assumes longer useful life when depreciating PPE assets
Answers
If a firm's management team is under pressure to meet earnings targets set by Wall St. analysts this fiscal year, the most likely action they would take is to increase the allowance for uncollectable accounts receivable.
The correct option is b) Management increases Research and Development (R&D) spending.
This would allow them to lower their reported earnings by accounting for potential losses from customers who may not pay their bills. It is a common practice among companies to adjust their allowance for uncollectable accounts receivable to manipulate their earnings in order to meet Wall St. expectations.
The other options, such as issuing more long-term corporate bonds, increasing R&D spending, or assuming longer useful life when depreciating PPE assets, may also have an impact on reported earnings, but are less likely to be chosen as the most viable option to meet the earnings target.
If a firm's management team is under pressure to meet earnings targets set by Wall Street analysts this fiscal year, the most likely action to be taken is Management assumes a longer useful life when depreciating Property, Plant, and Equipment (PPE) assets.
This approach would reduce the depreciation expense, thus increasing net income and meeting the earnings target. Issuing more long-term corporate bonds or increasing R&D spending would not directly impact earnings in the short term. Increasing the allowance for uncollectable accounts receivable might decrease net income, making it an unfavorable option to meet the earnings target.
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Judging is:
Select the best answer choice.
A.
One's openness and flexibility to new information
B.
Perceiving people
C.
Responding to what the world throws at an individual
D.
Imposing order on the outside world
Answers
How much would $2000 dollars earn in 1 year at a rate of 4.4% compounded annually?
Answers
Answer:
2,088
Explanation:
Use calculator and do 2000(1.044)^1
Individuals produced their own goods. They then decided to specialise. They formed a group and offered their skills to each other but without the use of money. What is not likely to be the result for the group? A. It will enjoy a rise in its material standard of living. B. It will have a wider choice of goods and services. C. It will need to use a system of barter. D. It will save time in obtaining goods and services.
Answers
Answer:
It will save time in obtaining goods and services.
Explanation:
Four students are at an extracurricular activity fair at their high school and are trying to decide which clubs to join. Some information about the students is listed in this chart:
Answers
Answer:
Hello your question is incomplete below is the missing part of your question
A 2-column table with 4 rows. Column 1 is labeled Student with entries Eleanor, Russel, Giada, Joe. Column 2 is labeled Hobbies with entries is already in B P A but is looking for a similar club to join as well; enjoys being treasurer for school band and drama club, and wants to join a club to help him learn more about these skills; builds remote-control cars and robots as a hobby; wants to be a stay-at-home dad and be involved in the homeowners association for his future.
Which describes which CTSO each student should join?
Answer : option A).
Explanation:
It is necessary that each student should join a CTSO based on his/her interests which means that Eleanor should join NYFEA (National Young Farmer Educational Association) , Russell should join FEA(Future Educators Association) , Giada should join TSA(Transportation Security Administration) while Joe should join HOSA(Health Occupations Students of America) secondly this various CTSO's will help the students develop better in their various areas of study and skills.
Find a publicly traded company that has bonds on its balance sheet. Provide a link to the balance sheet in your post, and explain the details of the bond transactions based upon the amounts and disclosures found in the financial statements. Why do you think the company issues bonds rather than stock to fund its business
Answers
I have found that Apple Inc., a publicly traded company, has bonds on its balance sheet.
According to Apple's balance sheet, as of September 25, 2021, the company had $121.6 billion in long-term debt, which includes the current portion of long-term debt.
The company's long-term debt consists of bonds issued in various tranches with different maturity dates, interest rates, and other terms. Apple discloses the details of these bond transactions in its footnotes to the financial statements.
One reason why a company may choose to issue bonds rather than stock to fund its business is that bonds provide a fixed interest rate that the company must pay to bondholders.
In contrast, stock dividends are not guaranteed and are dependent on the company's performance.
By issuing bonds, a company can secure a fixed cost of debt financing, which can help with financial planning and forecasting.
Additionally, issuing bonds can be less dilutive to existing shareholders than issuing additional stock.
However, issuing bonds does increase the company's debt load and interest expenses, which can impact its financial flexibility and creditworthiness.
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Which of the following is true about specialization and trade? Select one: a. A country should specialize in and export the good for which it has comparative advantage b. A country should specialize in and export the good for which it has absolute advantage c. A country should specialize in and export the good for which it has both comparative and absolute advantage d. A country should specialize in and import the good for which it has absolute advantage e. A country should specialize in and import the good for which it has comparative advantage
Answers
Answer:
c. a country should specialize in and export the good for which it has both comparative and absolute advantage.
Explanation:
The correct answer is Option a. A country should specialize in and export the good for which it has comparative advantage.
Comparative advantage refers to a country's ability to produce a particular good or service at a lower opportunity cost compared to other countries. Specializing in and exporting the good for which a country has a comparative advantage allows it to allocate its resources efficiently and maximize its overall production. By focusing on producing the goods or services in which it has a comparative advantage, a country can benefit from increased productivity, economies of scale, and improved competitiveness in the global marketplace.
Specializing in and exporting the goods for which a country has a comparative advantage is the most beneficial approach for international trade. This allows countries to capitalize on their strengths and exploit the differences in production costs among nations. By engaging in specialization and trade based on comparative advantage, countries can enhance their economic growth, increase overall welfare, and promote global efficiency in resource allocation.
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Trudy’s monthly expenses are outlined in the chart below. Trudy’s job pays her $36,000 annually. Determine Trudy’s DTI (debt-to-income) ratio. Trudy's Debt and Income Income: $36,000 (annually) Rent: $695 (monthly) Car Payment $265 (monthly) Student Loan $200 (monthly) Credit Cards $160 (monthly) a. 28% b. 35% c. 37% d. 44% Please select the best answer from the choices provided A B C D
Answers
Answer:
d. 44%
Explanation:
Calculation to determine what DTI ratio is
First step is to calculate the Debt
Using this formula
Debt = (Rent expense + Carr payment + Loan + Credit card payment) × Number of months in a year
Let plug in the formula
Debt =[($695 + $265 + $200 $160) × 12 months]
Debt= $1,320 × 12 months
Debt = $15,840
Now let calculate DTI ratio using this formula
Using this formula
Debt to income ratio = (Debt) ÷ (Income) × 100
Let plug in the formula
DTI ratio=[ ($15,840 ÷ $36,000) × 100]
DTI ratio=0.44*100
DTI ratio= 44%
Therefore DTI ratio is 44%
Answer:
I found the missing data:
Monthly expenses:
rent is $695
car payment is $265
student loan's $200
credit cards $160
695 + 265 + 200 + 160 = 1,320
1,320 * 12 months = 15,840
Debt-to-Income ratio = 15,840 / 36,000
Debt-to-Income ratio = 0.44
Trudy's DTI ratio is d. 44%
Explanation:
All credit to BlueSky06 for this answer.
Imagine that you've saved $1,000. You'd like to do something with the money so that, in a few years, you'll have a down payment for a new car. You're not sure if you should invest it or deposit it into a another type of account. In this project, you'll not need to decide where to invest the money. However, you will look at a variety of sources that give advice about what to do with the money. You'll also decide which sources are reliable and relevant.
Part One:
Review the following sources and decide if they're reliable and relevant.
two books from a bookstore or library
an article in the business section of the newspaper
the news or other program on TV
the following Web sites:
www.money.cnn.com
www.fidelity.com
www.beginnersinvest.about.com
Part Two:
Find two more sources of information. Review the sources and decide if they're reliable and relevant.
Part Three:
Create a table with the results from parts one and two. Your table should list the source, description of the source, and whether it's reliable and relevant. Use the work area below.
PLSSS I NEED YOUR HELP!!!!!! PLEASE ANSWER IT RIGHT!!!
Answers
Answer:
Part One:
1. Books from a Bookstore or Library:
- Source: Published books available for purchase or borrowing from a library.
- Description: Books covering topics such as personal finance, investing, and saving for specific goals.
- Reliability: Books authored by reputable experts in the field tend to be reliable sources of information.
- Relevance: Highly relevant, as they provide comprehensive insights and guidance on saving and investing for a new car down payment.
2. Article in the Business Section of the Newspaper:
- Source: An article featured in the business section of a well-known newspaper.
- Description: A written piece that discusses personal finance, investment strategies, or methods for saving towards financial goals.
- Reliability: Reliability depends on the credibility and reputation of the newspaper as a trustworthy source of news.
- Relevance: Relevant, as it offers current and informative content related to financial matters.
3. News or Other Program on TV:
- Source: A news segment or program aired on a recognized and reliable TV channel.
- Description: A television broadcast that covers financial topics, such as saving, investing, or personal finance advice.
- Reliability: Reliability may vary depending on the reputation and trustworthiness of the TV channel and program.
- Relevance: Can be relevant for gaining a general understanding of financial concepts, but may lack in-depth information.
4. Web Sites:
a. www.money.cnn.com
- Source: The money section of CNN's official website.
- Description: A website offering news articles, expert opinions, and resources related to various financial subjects.
- Reliability: Generally reliable, as CNN is a reputable news organization known for accurate reporting.
- Relevance: Highly relevant, as it provides up-to-date information and insights on financial topics.
b. www.fidelity.com
- Source: Fidelity Investments' official website.
- Description: A website providing investment services, financial planning tools, and educational resources.
- Reliability: Generally reliable, as Fidelity is a well-established and reputable financial services company.
- Relevance: Highly relevant, as it specializes in investment-related information and can offer valuable guidance.
c. www.beginnersinvest.about.com
- Source: A section of About.com dedicated to beginner investing.
- Description: A website featuring articles, tutorials, and tips focused on introducing investment concepts to beginners.
- Reliability: Moderately reliable, as About.com publishes content from various contributors, and credibility can vary.
- Relevance: Relevant, especially for individuals new to investing seeking basic information and guidance.
Part Two:
5. Personal Finance Podcast:
- Source: A widely recognized and popular personal finance podcast hosted by financial experts.
- Description: An audio podcast where experts share insights, tips, and strategies related to personal finance, investing, and savings.
- Reliability: Reliability depends on the credibility and expertise of the podcast hosts and the accuracy of the information provided.
- Relevance: Relevant, as it offers an alternative format for accessing expert advice and staying informed about financial matters.
Select three reasons why the CMO in the chapter example wanted to revamp the marketing plan?
1. There is no use of Mayo
2. Peoples taste changed
3. Customers increasingly preferred organic
4. People don't care about calorie intake
5. Demand for chicken sandwiches varied widely
Answers
Answer:
B
C
E
Explanation:
The other options do not make sense so these are the right answers I think, lol
Reasons why the CMO in the chapter example wanted to revamp the marketing plan:
2. People's tastes changed
3. Customers increasingly preferred organic
5. Demand for chicken sandwiches varied widely
Chief medical officerChief medical officer (CMO) is the title used in many countries for the senior government official designated head of medical services, sometimes at the national level. The post is held by a physician who serves to advise and lead a team of medical experts on matters of public health importance.
What is the role of the chief medical officer?Chief medical officers are healthcare administrators who oversee the effective management of medical centers. They are responsible for managing clinical operations, liaising between the administration and medical staff, and ensuring that patients receive the highest standard of medical care.
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Your Assignment, Part III
As the final part of this assignment, you will apply your understanding of tort law to scenarios in which a business is the defendant (or defendant tort-feasor). For each scenario, describe the specific type of tort case being brought against the defendant. Then, explain what the defendant will need to prove in order to get a ruling in their favor. Finally, describe the penalty that may be assigned to the defendant if the court rules against them.
1. Mr. Shanks goes to Hyperion Hospital to have a diseased kidney removed. After the surgery, he finds that his symptoms come back and grow even worse. When he returns to the hospital to find out what is happening, the hospital staff discovers that the surgeon removed Mr. Shanks’ healthy kidney instead of the diseased one.
a. What specific type of tort case against the business would this be? Explain.
b. What conditions does the plaintiff need to prove? What specific proof (if any) does the plaintiff have in this scenario? Organize this information into a table.
c. What penalty may the defendant expect (if any) as the outcome of this tort case, and why?
2. Two energy drink companies, Red Hornet and Blackout, have been competing with each other for years. In Blackout’s latest ad campaign, they have Red Hornet’s cartoon mascot making disparaging comments about its own product. Blackout’s ad also includes false claims that Red Hornet uses ingredients grown using slave labor. After the ad campaign runs, Red Hornet notices a drop in its energy drink sales.
a. What specific type of tort case against the business would this be? Explain.
b. What conditions does the plaintiff need to prove? What specific proof (if any) does the plaintiff have in this scenario? Organize this information into a table.
c. What penalty may the defendant expect (if any) as the outcome of this tort case, and why?
3. Larissa works at Opalescent, a high-end jewelry store. A customer comes in on a very busy day and complains about how long it takes for anyone to assist him. Larissa apologies, but the customer continues to complain. The customer, a very large man, soon begins insulting her personally and threatening her with violence. Larissa hits him with pepper spray, incapacitating him.
a. What specific type of tort case against the business would this be? Explain.
b. What conditions does the plaintiff need to prove? What specific proof (if any) does the plaintiff have in this scenario? Organize this information into a table.
c. What penalty may the defendant expect (if any) as the outcome of this tort case, and why?
Please Help:)
Answers
Answer:
ok
Explanation:
explain the effect of a lack of shortage of entrepreneurs in the economy
Answers
Explanation:
Lack of entrepreneurs will lead to lower jobs, innovative products and a decline in economy. By developing new technology, goods, and services, entrepreneurs help to fuel the economic growth.
three soft skills i need an answer
Answers
Answer:
1. Communication
2. Teamwork
3. Problem-solving
Explanation:
Using demand curves, what would happen if the price of pop increases?
o. Demand for pop will increase
b. The demand curve will shift to the right
c. Demand for pop will decrease
The demand curve will shift to the left
Answers
Using demand curves, if the price of pop increases, then, the demand for pop will decrease. The Option
How does demand for product change in response to a change in price?According to demand law , as the price of a product increases, the quantity demanded of that product will decrease. This inverse relationship between price and quantity demanded is illustrated graphically by a downward-sloping demand curve.
Therefore, if the price of pop increases, the demand for pop will decrease. This can be shown by a movement up along the demand curve, resulting in a lower quantity demanded at each price point.
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what's the language spoken in Egypt?
Answers
Answer:
Modern Standard Arabic
Explanation:
Answer:
Arabic thats the language of egypt because most them are Islamic
Using technology, determine the present value given that you make semi-annual payments of $2,527 at 6.1% compouded semi-annually over a 6 year period. round your answer to the nearest cent. a. $25,078.86 b. $25,146.48 c. $20,963.57 d. $21,070.31
Answers
The present value would be $21070.31. Semi-annual payments of $2,527 at 6.1% compounded semi-annually over a 6 year period, means, payment is made semi annually that is two times in a year.
How to calculate?Given that,
semi-annual payments of $2,527 at 6.1% compounded semi-annually over a 6 year period.
It means, payment is made semi annually that is two times (twice) in a year.
Payment made = $2527.
Interest rate =6.1%
Hence, compounded semi annually = 0.061
Time duration = 6 years = 6 × 2 = 12 (two times)
Using Formula: P = A * i / 1 - (1 + i)-t
Therefore,
Where,
A = amount to pay
P = payment made
t = time duration
i = interest rate
By placing given values in the formula, we obtain,
A=21070.306476
Hence, the present value is $21070.31
How many semi-annual payments?Employers who choose this schedule can choose to pay the employee either on the 1st and 15th of the month, or on the 16th and the last day of the month. A half-month salary has 24 payment periods and is most commonly used by office workers.
What date is semi annual?Semi-annual dates mean June 30th and December 31st of each year.
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Answer:D
Explanation:
edge