To calculate the time it will take Joey to pay off his $3,000 credit card debt with monthly payments of $150 and an 18 percent APR compounded monthly, we can use the formula for the number of months required to pay off debt:
n = -(log(1 - r * P / A) / log(1 + r))
Here, n represents the number of months, r is the monthly interest rate (APR/12), P is the monthly payment ($150), and A is the initial debt ($3,000).
Substituting the given values into the formula, we get:
n = -(log(1 - (0.18/12) * 3000 / 150) / log(1 + (0.18/12)))
After calculating this equation, the result is approximately 13.03 months. Therefore, it will take Joey around 13.03 months to pay off his credit card debt.
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what is the difference in perspective between finance and accounting
Finance and accounting are two distinct disciplines that provide different perspectives on managing and analyzing financial information.
Accounting focuses on recording, classifying, and summarizing financial transactions to produce accurate and reliable financial statements. It is primarily concerned with historical data and compliance with accounting principles and standards.
Finance, on the other hand, concentrates on analyzing financial information to make informed decisions about investments, capital structure, and risk management. It considers future projections, evaluates financial performance, and seeks opportunities to maximize shareholder value.
Finance deals with strategic planning, budgeting, forecasting, and making recommendations for financial decision-making. While accounting is more focused on past events, finance emphasizes forward-looking analysis and decision-making.
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Accounting focuses on recording and reporting financial transactions while finance is concerned with the management and allocation of funds, using information provided by accounting to make strategic decisions. Accounting profit considers only explicit costs (cash concept) whereas economic profit (finance) considers both explicit and implicit costs.
Explanation:The difference in perspective between finance and accounting lies in their purpose and focus. Accounting primarily deals with recording and reporting financial transactions. It focuses on the money that comes and goes from a company, providing a snapshot of a company's financial health at any given time.
On the other hand, finance is more concerned with the management and allocation of funds, focusing on investment, capital markets and risk management. Finance utilizes the information provided by accounting to make strategic decisions about future financial actions.
For example, if a company is considering a major purchase, the accounting department would report on the current financial state, including how much available cash there is while the finance team would assess the potential impact of the purchase on future financial performance.
In terms of profit calculation, accounting profit considers only explicit costs i.e., it is based on the cash concept, meaning it's the difference between dollars brought in and dollars paid out. But, economic profit, which falls under the finance umbrella, is total revenue minus total costs, considering both explicit and implicit costs.
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how do you wrrite the word pneumonoultramicroscopicsilicovolcanoconiosi aand what does it mean?
Answer:
Pneumonoultramicroscopicsilicovolcanoconiosis
Explanation:
Pneumonoultramicroscopicsilicovolcanoconiosis is a phrase used to describe a lung condition produced by inhaling silica dust, as in I had difficulty breathing and my doctor diagnosed me with pneumonoultramicroscopicsilicovolcanoconiosis.
A travel company sells tours in Costa Rica on its website. Instead of designing the website themselves, the company hired an outside software development company to design, run, and manage the website for them. This is an example of Multiple choice question. accessing capabilities through a collaborative partnership. matching organizational structure to strategy. acquiring capabilities through mergers and acquisitions. internal development.
which of the following statements is incorrect with respect to the federal funds rate? a. financial market participants view changes in the federal funds rate as an indicator of potential changes in other money market rates. b. commercial banks are the most active participants in the federal funds market. c. it is the rate charged by financial institutions on loans they extend to each other. d. the federal reserve adjusts the amount of funds in depository institutions in order to influence the federal funds rate. e. it is the interest rate in which the federal reserve charges on loans that it provides to commercial banks.
The statement which is incorrect about federal fund rate is financial market participants view changes in the federal funds rate as an indicator of potential changes in other money market rates. The correct option is option A.
Federal Fund RateIt is the interest that is targeted and set by the central bank. It is the interest rate in which the federal reserve charges on loans that it provides to commercial banks. The federal reserve adjusts the amount of funds in depository institutions in order to influence the federal funds rate. It is the rate charged by financial institutions on loans they extend to each other. Commercial banks are the most active participants in the federal funds market.
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what is stopping producers of fruits and veggies to use marketing techniques similar to large food processing and manufacturing organizations such as pepsico?
Extending regenerative farming practices, a collection of methods that enhance and restore ecosystems with a focus on improving soil health and fertility, lowering carbon emissions, improving watershed management, increasing biodiversity, and enhancing farmer livelihoods, is a crucial component of positive agriculture.
What is Positive Agriculture Goals?In order to achieve our long-term goal of a sustainable agricultural supply chain, we have established standards for both our internal operations and our supply chain. By 2020, we want to sustainably procure for our company potatoes, whole corn, oats, oranges, palm oil, and cane sugar. By 2025, we want to do the same for additional important crops, like vegetable oils that we don't buy directly from farmers. With 2030 aims to obtain crops and ingredients in a way that accelerates regenerative agriculture and strengthens agricultural communities, we announced a new, impact-driven Positive Agriculture ambition in 2021 to build on the progress made.Adopting regenerative farming methods on 7 million acres1, or roughly 100% of the land used globally to produce our products' key crops and ingredients. By 2030, greenhouse gas (GHG) emissions are anticipated to be reduced by at least 3 million tons as a result of these efforts. We will continue to work with farmers to adopt practices that improve and restore ecosystems while advancing the progress made with the Sustainable Farming Program (SFP) over the past almost ten years.100% of essential ingredients are sourced sustainably2, and this extends to key crops from outside sources, such as grains and vegetable oils, in addition to our own grower-sourced products (potatoes, whole corn, and oats).Enhancing the livelihoods of more than 250,000 people in our agricultural supply chain and communities, including the economic empowerment of women. We will concentrate our efforts on the most vulnerable farming communities connected to our global value chain, including smallholder farmers and farm workers, women, and farmers from underrepresented groups. We will continue to advance this objective through a variety of partnerships, including those with the German Agency for International Cooperation, the Inter-American Development Bank, CARE, the National FFA Organization, and the United States Agency for International Development.To Learn more About positive agriculture refer to :
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Waller Comp, purchased equipment for S24,000. The company is constdenne whether to determine annual depreciation using the straight-lane method or the declitung-balance method at 150 percent of the straight-1,1e tate. Waller expects to use the equipment for 10 years. At the end of which it will have an estimated salvage valueef 54.000. Prepare a comparison of these IWO alternatives for the fast two yews Waller will oun the equipment
Answer:
Waller Company
Comparison of Straight-line Depreciation and Declining Balance Methods
Straight-line method Declining balance method
Cost of equipment $24,000 $24,000
1st year depreciation exp. 1,860 2,760
Net book value 22,140 21,240
2nd year depreciation exp. 1,860 2,371.50
Ner book value 20,280 18,868.50
Explanation:
a) Data and Calculations:
Cost of purchased equipment = $24,000
Duration of useful life = 10 years
Estimated salvage value = $5,400
Depreciable amount under the straight-line method = $18,600
Depreciation expense per year under the straight-line method = $1,860 ($18,600/10)
Under the declining balance method:
The depreciation rate = 10% * 150% = 15% per year
Depreciation expense for the first two years:
Year 1, 15% of $18,600 = $2,760
Year 2, 15% of ($18,600 - 2,760) = $2,371.50
The Wayne Corporation expects to have a changing dividend policy over the next few years starting with the dividend that they just paid of $9.99. In the following year their dividend will grow by 13.9% and in the year after by 13%. Following that they expect their dividends to continue growing at a constant rate of 4.4% forever. If the required rate of return for Wayne is 9.3% per year, what is the price today of Wayne shares? Answer to the nearest penny.
The price today of Wayne shares is $124.56.
How can we calculate the price of Wayne shares?To calculate the price of Wayne shares, we can use the dividend discount model (DDM) which considers the present value of all expected future dividends. The formula for the price of a stock using the DDM is as follows:
\(\[ P_0 = \frac{D_1}{(1 + r)^1} + \frac{D_2}{(1 + r)^2} + \ldots + \frac{D_n}{(1 + r)^n} \]\)
where \( P_0 \) is the price today, \( D_1 \) and \( D_2 \) are the expected dividends in the first and second year respectively, \( r \) is the required rate of return, and \( n \) is the number of years.
In this case, the expected dividends in the first and second year are $9.99 \times (1 + 0.139) = $11.38 and $11.38 \times (1 + 0.13) = $12.84, respectively. We can then use the constant growth rate to calculate the present value of the perpetuity of dividends beyond the second year.
Using the formula and plugging in the given values, we get:
\(\[ P_0 = \frac{11.38}{(1 + 0.093)^1} + \frac{12.84}{(1 + 0.093)^2} + \frac{12.84 \times 1.044}{0.093 - 0.044} \]\)
Solving this equation, we find that the price today of Wayne shares is approximately $124.56.
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If I wanted to buy one of 2 items, a bike or a new TV, and after
consideration of my need to get exercise and fresh air, I chose to buy
the bike. Then, my opportunity cost would be the TV.
True
O False
People in finance work mostly with:
A.Insurance
B.Products
C. Information
D.Money
Answer:
d
Explanation:
believe it or not I actually did this same exact question
Answer:
D. Money
Explanation:
I just took the test
What happens if The People do not know what they want, or are just plain ignorant?
Answer:
Then, like civilizations before, we will descend into chaos and death where the only food is other people and war will ravage our already-dying planet, eventually the human race will die off as it should, because we are the virus plaguing our once-beautiful planet.
Explanation:
Or the government will just decide for us.
QUESTION 13 of 20: You own a dance studio. You have assets of $512,667 and equity of $268,964. What is your liabilities total?
оооо
a) $243,703
b) $268,964
c) $512,667
d) $781,631
Answer:
243,703
Explanation:
Underground Food Store has 4,000 pounds of raw beef nearing its expiration date. Each pound has a cost of $4.50. The beef could be sold "as is" for $3.00 per pound to the dog food processing plant, or roasted and sold in the deli. The cost of roasting the beef will be $2.70 per pound, and each pound could be sold for $6.40. What should be done with the beef, and why?
Answer: The beef should be roasted.
Explanation:
Sales revenue
Sell as is: 4000 × $3 = $12000
Processed further: = 4000 × $6.40 = $25600
Increase/Decrease in income: = $13600
Purchase cost:
Sell as is: 4000 × $4.50 = $18000
Processed further: = 4000 × $4.50 = $18000
Increase/Decrease in income: = $0
Cost of roasting:
Sell as is: 0
Processed further: = 4000 × $2.70 = $10800
Increase/Decrease in income: = -$10800
Net income = $13600 - $10800 = $2800
Since there is a net income of $2800 when they beef is roasted, therefore it should be roasted.
True or False
It is perfectly acceptable to approach the seven-step decision-making model in any order you wish as long as you address each of the seven steps.
It is perfectly acceptable to approach the seven-step decision-making model in any order you wish as long as you address each of the seven steps. FALSE
The seven-step decision-making model is a structured approach that guides individuals or organizations through a systematic process of making effective decisions.
The steps in the model are designed to be followed in a specific order, and deviating from this order can lead to suboptimal outcomes.
The seven steps in the decision-making model typically include: identifying the problem or opportunity, gathering information, identifying alternatives, evaluating alternatives, selecting the best alternative, implementing the decision, and evaluating the results.
Each step builds upon the previous one, forming a logical sequence that ensures a comprehensive and well-informed decision.
By approaching the steps in a random or haphazard manner, individuals may overlook crucial aspects of the decision-making process.
For example, if the evaluation of alternatives is conducted before gathering sufficient information, the evaluation may be based on incomplete or inaccurate data, leading to flawed decisions.
Similarly, selecting the best alternative before identifying all possible options may result in missed opportunities.
Following the prescribed order of the steps ensures that decisions are based on a thorough analysis of the situation, relevant information is considered, and all available options are explored.
It promotes a systematic and disciplined approach to decision-making, increasing the likelihood of making sound and successful decisions.
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Which of the following represents major standards for ethical behavior?
Answer:
A. integrity, honesty, respect, fairness
Explanation:
Ap-ex
for businesses and organizations under recent compliance laws, data classification standards typically include private, confidential, internal use only, and public domain categories. T/F
True, data classification standards for businesses and organizations under recent compliance laws typically include private, confidential, internal use only, and public domain categories.
Data classification is a crucial aspect of information management and security. Recent compliance laws and regulations often require businesses and organizations to implement data classification standards to protect sensitive information effectively. These standards commonly include four main categories: private, confidential, internal use only, and public domain. The private category encompasses highly sensitive data that should only be accessible to authorized individuals with a legitimate need. Confidential data refers to information that requires protection due to legal or contractual obligations.
Internal use only category includes data that is restricted to internal usage within the organization. Lastly, the public domain category covers information that is freely available and can be shared with the public without restrictions. Adhering to these data classification standards helps organizations ensure proper handling, storage, and dissemination of data, reducing the risk of unauthorized access or data breaches.
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a u.s. treasury strip that will pay $1,000 in 10 years is selling today for $508.35. what interest rate does the bond offer? (do not round intermediate calculations. enter your answer as a whole percent.)
The bond offers an interest rate of 9%.
The interest rate is computed as shown below:
Future value = Present value ( 1 + r )n
$ 1,000 = $ 422.41 ( 1 + r )10
($ 1,000 / $ 422.41)1/10 - 1 = r
r = 9%.
An interest rate tells you how high the cost of borrowing is, or high the prices are for saving. So, if you are a borrower, the interest rate is the quantum you're charged for adopting a plutocrat, shown as a chance of the total quantum of the loan.
Using the interest rate formula, we get the interest rate, which is the chance of the top quantum, charged by the lender or bank to the borrower for the use of its means or plutocrat for a specific time period. The formula is Interest Rate( Simple Interest × 100)/( star × Time).
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Matt wants to start a bait shop from an heritance he received. What two strategies could Matt use to start his business?
A. common stock or retained earnings
B. long term goals or liquid assets
C. common stock or short term liabilities
D. short term liabilities or fixed assets
The two strategies that Matt could use to start his business would be D. short term liabilities or fixed assets .
What strategies would help Mark best ?Matt could use a combination of short-term liabilities and fixed assets to start his bait shop. Short-term liabilities, such as loans or credit lines, can provide the initial funding needed to purchase inventory, equipment, and supplies.
Fixed assets, such as a building or a storefront, can provide a permanent location for the bait shop and help establish a presence in the local community.
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If
an insurance policy covers individual losses up to $10,000 and has a deductible of
$500, the insured will be paid how much
in the event of a covered loss of $5,000?
• $500
• $10,000
• $9,500
O $4,500
©. $5,500
In the event of a covered loss of $5,000 under an insurance policy with individual losses covered up to $10,000 and a deductible of $500, the insured will be paid $4,500.
1. The insurance policy covers losses up to $10,000, which means any amount less than or equal to $10,000 is eligible for coverage.
2. The deductible is $500, meaning the insured must pay the first $500 of the covered loss before the insurance company pays the remaining amount.
3. In this scenario, the covered loss is $5,000. To determine the amount the insured will be paid, subtract the deductible from the total loss: $5,000 - $500 = $4,500.
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Ariana's health insurance policy includes a deductible of $800 and a coinsurance provision requiring her to pay 20 percent of all bills Her total bill is $3,800. What is Ariana's total cost? (Do not round intermediate calculations.) 0.9 points cost eBook Print eferences
To determine Ariana's total cost, add the deductible payment and the coinsurance payment: $800 (deductible) + $600 (coinsurance) = $1,400 (total cost) Ariana's total cost for her health insurance policy, considering the deductible and coinsurance provision, is $1,400.
Ariana's health insurance policy includes a deductible of $800 and a coinsurance provision requiring her to pay 20 percent of all bills. Her total bill is $3,800. To calculate Ariana's total cost, we need to first subtract her deductible from the total bill: $3,800 - $800 = $3,000
This means that Ariana is responsible for paying $3,000 out of pocket. However, because of the coinsurance provision, she also needs to pay 20 percent of this amount: 20% x $3,000 = $600
Therefore, Ariana's total cost for this medical bill would be the sum of her deductible and coinsurance payment: $800 + $600 = $1,400
Ariana would need to pay a total of $1,400 for this medical bill, with the remaining $2,400 being covered by her insurance provider. It's important to note that the specific terms and conditions of an individual's health insurance policy can vary widely, so it's always a good idea to carefully review the policy and consult with a healthcare provider or insurance representative if there are any questions or concerns.
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fiona has a monopoly on motorboat rentals on nantucket island during the summer. she can rent 10 boats per week at $18,000 each. if she wants to rent 11, she can charge $14,000 each. the absolute value of the price effect of renting the 11th motorboat is: $
The price effect refers to the change in price when the quantity of a good or service is altered. In this case, Fiona has a monopoly on motorboat rentals and charges $18,000 for renting 10 boats per week. The absolute value of the price effect of renting the 11th motorboat is $4,000.
To calculate the absolute value of the price effect of renting the 11th motorboat, we need to find the difference between the prices charged for renting 10 boats and 11 boats.
The price effect can be calculated as follows:
Price effect = Price of 11 boats - Price of 10 boats
Price of 11 boats = $14,000 (as stated in the question)
Price of 10 boats = $18,000
Using the formula, we can calculate the price effect:
Price effect = $14,000 - $18,000
Price effect = -$4,000
Since we are looking for the absolute value, we disregard the negative sign. Therefore, the absolute value of the price effect of renting the 11th motorboat is $4,000.
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the length of time for which a business summarizes its financial information and reports its financial performance.
The length of time for which a business summarizes its financial information and reports its financial performance is called a fiscal period.
What is a fiscal period?A fiscal period or fiscal year can be defined as a 12-month period in which a business entity will account for all transactions dealing with that particular company. The 12-month period does not necessarily coincide with the calendar year or January 1st to December 31st. The fiscal period concept is used by companies since it is easier to calculate the financials if the company financials is similar to the natural business cycle of the company.
Fiscal periods are a type of classification record, which states that they exist in a hierarchy.
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what is the best job to make a hole lot of money
Answer:
drop shiping
Explanation:
it's the perfect job
Why is internal control over cash important? Check all that apply.
- the elevated risk of theft
- the high volume of cash transactions
- the inherent lack of segregation of duties
- the infeasibility of document procedures
Except for option C. All that apply Internal controls must be in place to protect these assets and ensure that only authorized individuals have access to them.
What is Internal Control?Internal control is a procedure implemented by a company's board of directors, management, and other staff members and intended to give reasonable assurance that the information is trustworthy, accurate, and timely. of adherence to relevant laws, rules, contracts, policies, and procedures.
Thus, Internal control is crucial when it comes to cash because it is susceptible to theft or loss. Because of the enormous volume of cash transactions, there is always always a very high risk of theft, which is prevented by the separation of roles and the impossibility of document procedures.
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Describe how human desires would be met with no scarcity.
Answer:
Human needs are the impulse that individuals have to access certain goods or things. Scarcity, in turn, is the lack of goods or things to meet the needs of all humans in general.
Therefore, all human needs could be covered without major problems if the phenomenon of scarcity did not exist, that is, if there were more goods available than those demanded by society.
Which control could be used to mitigate the threat of hiring unqualified or larcenous employees?
Answer:
Segregation of duties
Explanation:
Segregation of duties is a key internal control intended to minimize the occurrence of errors or fraud by ensuring that no employee has the ability to both perpetrate and conceal errors or fraud in the normal course of their duties. Generally, the primary incompatible duties that need to be segregated are: Nội dung chính Segregation of Duties
True or false: the operations manager is involved primarily with supply network design.
The activities director is very familiar with a few sorts of plan: procedure, design, job design, supply network design, and organizational design.
In supply chain management, what role does the operations manager play?Supply Chain Management The operations manager is in charge of managing the process of the supply chain by controlling inventory management, the production process, sales, distribution, and locating suppliers who can supply the necessary goods at fair prices.
In terms of operations management, what is network design?The process of building and modeling a supply chain to better understand the costs and time involved in bringing goods to market with the resources and locations available is known as supply chain network design.
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Samantha keeps $1,000 in her checking account. A friend has suggested that she move that money into a savings account which pays interest and that she apply for a debit card on that savings account so that she can spend money in her account directly with merchants without having to write a check. What's wrong with this idea
Answer:
Few banks will issue debit cards for savings accounts since the law limits the use of a debit card with merchants to 6 times per month.
although bangladesh and india have the same annual growth rate, their economies are much different in size. one way to explain the size difference to someone who is unfamiliar with scaling large numbers is to visualize it. india's gdp is a
India's GDP growth rate is lower than that of Bangladesh.
GDP or Gross Domestic product is defined as the final value of all the products that are produced within a country in a specified period of time or within a financial year. GDP growth rate may be an important feature to compare the economies of two countries. India and Bangladesh do not have same territorial boundary and their economies are also not equal. There are many factors to compare the economies of the two countries and the main factor is the GDP growth rate as the other factors are almost same. India is witnessing a slight increase in the GDP growth rate though the growth rates are comparatively smaller than that of Bangladesh. Covid-19 has struck the GDP of India and affected it to a very large extent and efforts are being made to recover the GDP growth rate.
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Which economic tool would most likely be used as part of a contractionary
monetary policy?
A. Lowering the reserve requirement
O B. Raising interest on reserves
C. Buying treasury securities
D. Reducing the discount rate
SUBMIT
Answer:
O B. Raising interest on reserves
Explanation:
The Federal Reserve expects banks to keep a percentage of customer deposits as reserves. The reserves cater to both the normal and unexpected withdrawals. The Federal Reserve (Fed) also uses reserve requirements as a monetary policy tool.
Interest on reserves is one of the monetary policy tools that the Fed uses regularly. The Fed pays interest on any excess reserves held by the banks. Increasing the interest paid on reserves encourages banks to hold more money. Decreases the interest prompts the banks to lend out more. Contractionary monetary policies are measures aimed at decreasing the money supply in the economy. Increasing interest on reserves increases money held in the banking sectors, thereby slowing down money circulation.
Answer: B. Raising interest on reserves
Explanation:
Just got it right!!!
PLEASE HELP
Question 3 of 10
Which of the following is the best reason for changing a job title?
A. The person in the job has changed.
B. The job responsibilities have changed.
C. The supervisor for the job has changed.
D. The dress code for the job has changed
Answer:
B
Explanation:
I think that's the most reasonable answer hope I helped :)