The supplies expense on the income statement equal is $4,700.
It started with $500 and purchased $5,000 but only has $800 of supplies left, thus it used $4,700.
The amount used is Supplies Expense and is recorded as an adjusting entry with a debit to Supplies Expense (+E,-SE) and credit to Supplies (-A) for $4,700. The Supplies balance on the balance sheet equals $800 (the supplies left).
An income statement, also known as a profit and loss account, is one of a company's financial statements and displays the company's receipts and outlays for a specific time period.
what is in an income statement ?
An earnings assertion is a financial report detailing a organization's income and charges over a reporting period. it could also be called a earnings and loss (P&L) statement and is typically prepared quarterly or yearly. earnings statements depict a organization's monetary overall performance over a reporting period.
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When trying to decide which college has the lowest cost of attendance, which is the most important for students to consider?
The most important thing that students must take into the consideration while deciding about the cost of attendance is net price.
What is Attendance?Attendance refers to the act of being present in a certain event, program or assembly every day. For instance, attendance in the meeting is compulsory for the members of the boards.
Net price refers to the amount which comes after deducing all kinds of the expenses from the product or service. When determining which institution offers the most affordable tuition, net price must be considered.
Therefore, it can be concluded that net price is an important consideration.
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When leadership is defined as an influence process, it means that leadership ______.
When leadership is defined as an influence process, it means that leadership focused on achieving group goals.
Influencing others to follow you is leadership. Anyone who has the ability to persuade others to follow them is a leader. Leadership occurs not just among people who hold formally designated "leadership positions," but also at all levels of organizations and society. Varied people, cultures, and contexts have different definitions of what leadership is. But the role is always complex.
Exactly why is leadership crucial?
All businesses require effective leadership. Organizations that are well-led are typically more productive, competitive, and change-responsive. Their staff members are more engaged and driven because they have a clearer understanding of where they are going and why. Success in producing leaders tends to increase an organization's long-term profitability.
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If soybean oil drops $.10, what is the equity of the account when marked-to-market?
Mark-to-market or fair value accounting is accounting for the "fair value" of an asset or liability based on the current market price, or the price for similar assets and liabilities, or based on another objectively assessed "fair" value.
Equity can be calculated by subtracting liabilities from assets and can be applied to a single asset, such as real estate property, or to a business. For example, if someone owns a house worth $400,000 and owes $300,000 on the mortgage, the difference of $100,000 in equity.
Unrealized Profit due to $0.1 drop = Drop*Contract Size = 0.1*100 = $10
Marked to Market = Cash Deposit+Unrealized Profit = 10000+10 = $10010
Note: Initial or Maintenance Margin is NOT DEBITED from the account.
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Writing an activity log, nutritional log, or a stress log is a smart way to detect patterns to develop your personalized plan?
A Stress Log is a smart way to detect patterns to develop your personalized plan.
By tracking your progress, you can stay on course, meet deadlines, and feel a sense of accomplishment that will support the fulfillment of your ultimate objective. Being healthy in body, mind, and spirit, rather than just the absence of illness or disability, is what is meant. The immediate advantages of changing one's conduct can be powerful motivators.
An effective method for measuring progress is documenting it. Consider recording your overall goals, tasks, milestones, and deadlines. Then you can use a calendar or a planner to help you track your progress by checking off tasks as you complete them and milestones as you achieve them.
There are two accepted methods of tracking progress. The first is to set proximal goals and distal goals. Proximal goals are short-term goals or subgoals, whereas distal goals are long-term or primary goals.
A Stress Log is a smart way to detect patterns to develop your personalized plan.
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If the annual interest rate is 0 percent, the present value of receiving $210 in the next year is:________
a. $201.
b. $210.
c. $221.
d. $200.
The present value of receiving 210$ next year is (b)210$
Given, that the annual interest rate is 0%.
Therefore, the present value can be calculated by the formula,
Present value (PV) = FV/(1+R)т
Where, FV is future value , R is interest rate and т is time.
On putting value of FV, R and т we get,
Present value (PV) = 210(1+0) *1
Present value = 210$
So, the present value is found to be 210$
The worth of a current asset at some point in the future based on an estimated rate of growth is known as future value (FV). For investors and financial planners, the future value plays great role to predict how much an investment made now will be worth in the future.
A person who deposits money in a bank or other financial institution also earns additional income in terms of the recipient, known as interest, taking into account the time value of money.
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Which businesses would be considered a small business? Check all that apply.
A small business is an independently run enterprise with less than 500 employees that does not dominate its industry.
Care for the sick and virtual medicine.
Services for lodging and feeding.
Entertainment, crafts, and the arts.
Private instructors (online)
Website development and web design.
Local auto repairs
Used-goods (online) retailers.
pet services
Small businesses are characterized as privately held corporations, partnerships, or sole proprietorships with fewer employees and lower yearly income than corporations or regular-sized businesses. The concept of "small"—in terms of being eligible for government assistance and special tax treatment—varies by nation and sector. A small business is defined by the U.S. Small Business Administration in accordance with a set of criteria depending on particular industry. Even though they can frequently apply the same quality management systems as larger firms, small enterprises may run across various obstacles along the route. For instance, small businesses may have less upfront funding and human resources to invest in quality projects. the availability and dedication of senior management,
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Which principle has the strongest application in the valuation of income producing properties?
The anticipation principle has the strongest application in the valuation of income-producing properties.
The anticipation principle is a way utilized by an appraiser in which the appraiser makes use of the earnings technique to decide the cost of a property. The appraiser will estimate the prevailing really well worth of destiny advantages for the property.
The anticipation principle says that cost is created via way of means of the expectancy that sure advantages might be found out withinside the destiny. Value can boom or lower in anticipation of a few destiny gains or detriments affecting the property.An anticipation pose or drawing is training for the principle motion of a lively scene, as awesome from the motion and the reaction.
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He new fund had average daily assets of $4.5 billion last year. the fund sold $600 million worth of stock and purchased $650 million during the year. what was its turnover ratio?
The inventory turnover ratio calculates how frequently inventory is sold and replaced during a specific time frame. Cost of Goods Sold divided by Average Inventory is the inventory turnover ratio.
Asset Turnover = Total Sales ÷ Beginning Assets + Ending Assets ÷ 2
Inventory Turnover = COGS / [ (BI + EI) / 2 ]
= 600.00 / [ ( 4.50 + 650.00) / 2 ]
= 1.83
Inventory Turnover (IT) = 1.83 times
Days in Inventory = DIY / IT
= 365.00 / 1.83
= 199.45
Days in Inventory (DII) = 199.45 days
The number of times inventory is sold or used over a given time frame, like a year, is referred to as the inventory turnover in accounting. It is calculated to determine whether a company has an excessive amount of inventory in relation to its level of sales.
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What is the total cost for a basket of goods that includes 200 gallons of gas, 60 pizzas, 45 6-packs, and 3 textbooks?
The price of a selection of items that includes 200 gallons of gas, 60 pizzas, 45 6-packs, and 3 textbooks. $1139 in the initial year
$1991 last year
Imperial units and US customary units both use the gallon as a unit of volume. The imperial gallon (imp gal), which is or was used in the United Kingdom, Ireland, Canada, Australia, New Zealand, and some Caribbean countries, is defined as 4.54609 litres. The US gallon (US gal), which is defined as 3.785411784 L[1] (231 cubic inches), is used in the US and some countries in Latin America and the Caribbean. The third version, known as the US dry gallon (usdrygal), is defined as 18 US bushel (exactly 4.40488377086 L). Two pints make up a quart, while four quarts make up a gallon. The variations in imperial and US gallons are accounted for by variations in pint sizes.
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What are the four career areas in which deca prepares emerging leaders and entrepreneurs?.
DECA prepares emerging leaders and entrepreneurs in,hospitality, finance, marketing,and management in high schools and colleges around the world.
What are the four career areas in which DECA prepares emerging leaders and entrepreneurs?
DECA stands for Distributive Education Clubs of America, which is a an association comprising of marketing students who are encouraged to develop business and leadership skills which is achieved through competitions and academic conferences.
DECA, aligns with the development of century's latest skills of creativity, critical thinking innovation, communication, collaboration and problem solving.
DECA prepares emerging leaders and entrepreneurs in,hospitality, finance, marketing,and management in high schools and colleges around the world.
These emerging leaders series prepares the members to be effective leaders in career and this provide a venue for further competitive programs and additional developmental programs.
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The triangle of meaning consists of ____________, _____________, and _____________.
The triangle of meaning is a communication model that shows the connection between a thought, a symbol, and a referent while emphasizing the symbol's inverse relationship to the referent. The model explains how there can be numerous different referents for a single symbol, which can cause confusion.
Information sharing within and outside of a company is referred to as business communication. The way employees interact with one another and conduct business is crucial to a company's success.
Information sharing in the workplace and with external parties is referred to as business communication. To achieve organizational goals, management and employees must interact effectively in the workplace. Its goal is to enhance organizational procedures and lower errors.
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A replacement computer will cost you $1,500, but save you $950 each year because of the faster processor. what is the payback period of the computer? group of answer choices
The payback period of the company was 0.63 years.
Given here, the replacement cost =$1500 and savings per year of replacement is $950.
Payback period can be calculated by the formula,
Payback period = Replacement cost/savings per year
Payback period = $1500/$950
= 0.63 years.
Thus, payback period was calculated and found to be 0.63years.
Payback period is commonly used by investors to calculate their returns. The payback period is the time required to recoup the cost of an investment or the amount of time required for an investor to break even.
Longer payback times are unfavourable, while shorter paybacks make investments more appealing. Payback period can be determined by dividing investment amount by the annual cash flow.
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The stated interest payment made on a bond is called the:_________
a. face value.
b. yield to maturity.
c. coupon.
d. maturity rate.
e. discount rate.
The stated interest payment made on a bond is called the bond’s coupon. The correct option to this question is c i.e. Coupon.
A coupon is the annual interest rate paid on a bond and is stated as a percentage of the face value, paid from the date of issue till the maturity of the bond. It is usually referred to as a coupon rate i.e. sum of paid coupons per year by the bond’s face value.
Coupon rate = annual payments ÷ face value
The other options are incorrect because:
Face value is the nominal value of any security stated by the issuing authority on the front of the security.Yield to maturity refers to the total return expected on a bond if it is held to maturity. Maturity means the date on which a transaction or a financial tool ends. Maturity rate is not an existing term.Discount rate can either be the interest rate charged by the federal reserve for short term loans to commercial banks or the rate that determines the discount on future cash flows in a discount cash flow analysis (DCF analysis).You can learn more about bond's coupon at
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A functional structure is best suited when a single department has a:_______
a. dominant role.
b. surplus of resources.
c. dominant interest.
d. project sponsor.
A functional structure is best suited when a single department has a Dominant interest and a Dominant role.
A functional structure is a type of business structure that organizes a business into different divisions based on areas of expertise. These divisions act as functional units and are overseen by functional managers or department heads.
Functional structure is the structure that divides the main functions of a company into different groups, for example, the information technology (IT) department, the finance department, the marketing department, and the product division. export. Airtel is a leading telecommunication company in India.
A functional organization is a type of organizational structure that uses the principle of specialization based on function or role.
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Which statistical technique includes a group of experts discussing the forecast to predict employment?
The Delphi method includes a group of experts discussing the forecast to predict employment,
Employment is an agreement between an business enterprise and an worker that the worker will offer certain services. In go back, the worker is paid a earnings or hourly salary. even though employees can negotiate positive gadgets in an employment settlement, the phrases and situations are on the whole decided by the enterprise.
Employment is an monetary interest, wherein a person works below some other character. the individual that's being hired for any other man or woman or agency is known as as worker. An worker gets wages or salaries.
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Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of cost of goods manufactured for the year?.
$510,000. During May, $64,500 in raw materials (all direct materials) were drawn from inventory and used in production.
Companies within the white-collar sector of business, including law firms, accounting businesses, and personal investment companies, can utilize job order costing to manage individual labor costs client accounts. As an example, accounting firms can consider each individual client's employment.
Because overhead is usually driven by direct labor hours during a service company, direct labor hours are often used because of the allocation base. The method of recording overhead costs within the journal and job cost sheet is the same for both kinds of firms.
The basic flow of costs during a job-order system begins by recording the prices of fabric, labor, and manufacturing overhead. a. Direct material and direct labor costs are debited to the add Process account. Job order costing may be a costing method which is employed to work out the price of producing each product.
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The nurse is making initial rounds on the nursing unit to assess the condition of assigned clients. which assessment findings are consistent with infiltration?
The nurse is making initial rounds on the nursing unit to assess the condition of assigned clients. Pallor and coolness, Numbness and pain, Edema and blanched skin assessment finding are consistent with infiltration.
Water on the surface of the earth penetrates the soil through a process called infiltration. It is frequently employed in both soil science and hydrology. The highest rate of infiltration is referred to as the infiltration capability. Although it is most frequently assessed in meters per day, it can also, if necessary, be measured in other distance measurements over time. As soil surface layers become more damp, their potential for infiltration declines. Unless there is a physical barrier, runoff will often happen if the precipitation rate is higher than the infiltration rate.
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do you think Teasha made the right economic choice in opening her own business?
Based on the statistics of opening one's own business, Teasha made the right economic choice to open her own business depending on how successful she turns out.
Should we open our own businesses?Opening your own business comes with a lot of risks and stress that can lead to the business failing. This is why only 35% of businesses remain open after their first 10 years according to statistics.
This does not mean that we should not open our own businesses, it just means that there is a chance the business will fail. That being said, there are many upsides to running your own business such as your earnings potential being quite huge as you take profits and not a salary.
The point is, Teasha may or may not have made the right economic decision to open her own business. But, it was a good decision altogether because even if the business fails, she would have gained experience. And there is a 35% chance that she will still be open in 10 years and if she is, then it was a good choice.
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Answer:the dude above me is right
Explanation:
it helped me get a good grade
As inventory and ppe assets on the balance sheet are consumed, they are reflected:_________
As inventory and ppe assets on the balance sheet are consumed, they are reflected as expense on the income statement.
As inventory and ppe assets on the balance sheet are consumed, they are reflected as expense on the income statement.
Paying suppliers, paying employees, leasing facilities, and depreciating equipment are examples of frequent expense. Businesses are permitted to deduct tax-deductible expenses from their taxable revenue on their income tax returns in order to reduce their tax liability. However, there are tight guidelines set forth by the Internal Revenue Service (IRS) regarding which costs companies may deduct.
The operational costs a business bears in order to make money are referred to as expenses. Businesses may deduct tax-deductible expenses on their income tax returns as long as they comply with IRS regulations. One of two accounting methods—cash basis or accrual basis—is used by accountants to record expenses.
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Statements that can be relied on with a fair amount of certainty and can be observed objectively are known as.
FACTS are statements that can be relied on with a fair amount of certainty.
Why do you use the word statements?Sentences that express a fact, an idea, or an opinion are called statements.
Statements don't pose queries, issue requests, or issue directives. For instance, a statement would be "I like bananas because they have no bones." This particular sentence can only be true or false.
What are facts?A fact is defined as something that is true, has happened, or has been shown to be accurate. "The world is round" is an example of a fact. They articulate the most important issues and questions in a clear, concise manner. They gather data from a variety of sources, They come to well-justified conclusions and come up with solutions, They keep an open mind when it comes to how to approach and think through problems, and They are good communicators.To learn more facts, refer
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The demand for exxonmobil gasoline is _______________ the market demand for gasoline in general.
The demand for ExxonMobil gasoline is more price elastic than the market demand for gasoline in general.
The price elasticity of demand is a term in economics to describe the change in the quantity demanded of goods to changes in the price of these goods.
The elasticity of demand is a measuring instrument used to measure the sensitivity of changes in the quantity demanded of goods when there is a change in the price of goods. For example, there is a decrease in the price of a product, whether it is goods or services, then this has an impact on increasing the number of requests for these goods or services.
The elasticity of demand can be seen from the ratio of the percentage change in price to changes in demand for goods or services. There are 2 (two) assessments of this elasticity of demand, namely:
If the value of the elasticity of demand is above 1, then the amount of demand for goods is influenced by the size of the price. In this context, the demand for goods is said to be elastic. If the value of the elasticity of demand is below 1, then the amount of demand for goods or services is not affected by the size of the price. In this context, the demand for goods or services is said to be inelastic.You can learn more about elasticity of demand here brainly.com/question/15313354
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A buyer wants to take out an fha loan. the broker should refer the buyer directly to ______________
A buyer wants to take out an fha loan. the broker should refer the buyer directly to any approved lending institution such as a bank or savings and loan .
What Is a Federal Housing Administration (FHA) Loan?A Federal Housing Administration (FHA) advance may be a home contract that's insured by the government and issued by a bank or other loan specialist that's approved by the agency. FHA credits require a lower least down payment than numerous ordinary advances, and candidates may have lower credit scores than is ordinarily required.
The FHA advance is planned to assist low- to moderate-income families accomplish homeownership. They are especially prevalent with first-time homebuyers
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A corporation is ultimately controlled by its board of directors. group of answer choices true false
It is untrue that the board of directors of a corporation ultimately controls it. It is a corporation, making it a separate legal person from its owners.
A corporation is a legitimate entity that exists independently of its owners. Many of the same legal rights and obligations that apply to individuals also apply to businesses. They have legal authority to make agreements, lend and borrow money, file lawsuits, hire staff, possess property, and pay taxes.
The majority of big companies are corporations, such Toyota Motor corporation. Some businesses operate both under their own names and under several trade names, such as illustrious parent company, Alphabet Inc.
While a corporation's exact legal definition varies from one jurisdiction to the next, restricted liability is always its most crucial feature. As a result, shareholders are not individually responsible for the debts of the business but may share in the gains through dividends and stock appreciation.
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Market supply is the summation of the quantities supplied by individuals, firms, states, or even nations at each price over a fixed time period. True or false?.
Market supply is the summation of the quantities supplied by individuals, firms, states, or even nations at each price over a fixed time period. True
What is the market supply?
Consumer demand
The total quantity of a product that producers are willing and able to sell over a specific time period, such as one month, at various prices, is known as the market supply. A market supply curve, according to the industry, is the horizontal addition of the supply curves for every single firm. An industry's supply will migrate outward in response to the introduction of new companies, as well as in response to advancements in producer-accessible technology across the board.
The entire amount of an item or service that all producers are willing to offer within a specific time period at the current set of relative prices is known as the market supply. Unless otherwise specified, the term "Supply" must indicate Market Supply.
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A+firm+operated+at+80%+of+capacity+for+the+past+year,+during+which+fixed+costs+were+$200,000,+variable+costs+were+66%+of+sales,+and+sales+were+$931,000.+operating+profit+was:________
The operating profit was found to be $116,540.
Given, here the no. of sales = 931000 and variable costs percentage of sales = 66% and fixed cost is $200000
First, we calculate variable cost by multiplying percentage of sales to no of sales.
Variable cost = 931000× 66= $614460
Now, we calculate operating profit by the formula,
Operating profit = sales – variable cost – Fixed cost
Operating profit = 931000 - 614460 - 200000
= $116,540.
The sum of a company’s earnings from its core business operations for a specific time period, before deducting interest and taxes, is known as operating profit. It does not include any gains from additional investments, such as earnings from other companies in which the corporation owns a stake.
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Into the abyss is an outdoor clothing company that is just starting to conduct analyses on new data. which approach would be the appropriate first step before employing more complex analyses?
Into the abyss is an outdoor clothing company that is just starting to conduct analyses on new data. The approach would be the appropriate first step before employing more complex analyses. descriptive analytics.
Descriptive analytics is the technique of parsing ancient facts to higher apprehend the adjustments which have taken place in a commercial enterprise. the usage of a range of ancient records and benchmarking, decision-makers obtain a holistic view of overall performance and tendencies on which to base commercial enterprise methods.
Descriptive evaluation can be categorized into 4 types that are measures of frequency, primary tendency, dispersion or version, and position. those strategies are optimal for a single variable at a time.
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The difference between budgeted sales revenue and break-even sales revenue is the?
The difference between budgeted sales revenue and break-even sales revenue is the margin of safety.
A stock's intrinsic worth and market price are separated by a margin of safety. Added definition The margin of safety in break-even analysis refers to the amount that output or sales can drop before a firm hit its break-even point. margin of safety is a concept from the accounting discipline. The notion of margin of safety dictates that an investor only buys assets when their market price is substantially lower than their actual worth. In other words, the margin of safety is the differential when the market price of an asset is much lower than your estimate of its underlying worth. Buying assets when this discrepancy is present allows an investment to be made since investors may create a margin of safety in line with their own risk choices.
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The most common type of work-related presentation asking you how to increase sales or communicate policy or information is:________
The most common type of work-related presentation asking you how to increase sales or communicate policy or information is a Report.
What is the most common type of presentation?Informative Presentations is the most common type of presentation, which is an educational setting or business or corporate setting. The objective of an informative presentation is to provide detailed information about a product, concept, or idea to a specific kind of audience.
What is presentation and its types?A presentation is a process to conveys information from a speaker to an audience. Presentations are basically demonstrations, introduction, lecture, or speech meant to inform, persuade, inspire, motivate, build goodwill, or built a new idea/product.
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Suppose an economic boom causes incomes to increase and, at the same time, drives up wages for the sales representatives who work for cell phone companies. this will cause the:_________
Consider a scenario in which an economic boom raises earnings while also raising the pay of sales agents who work for mobile phone firms. The price of cell phones will increase as a result, but it is unknown how much will change in the equilibrium quantity, which will depend on whether the shift in supply is greater or lower than the movement in demand.
If a good is a typical good, then a rise in income will cause a economic boom rise in demand. Here, income is rising due to the economic growth, and as smartphones are considered to be standard goods, this gain in money will lead to an increase in demand, which will cause the demand for smartphones to move to the right.
Additionally, it is assumed that the wages of employees at smart phone companies will economic boom rise. Since these employees are a factor in the production of smart phones, the rise in the cost of this factor of production (i.e., wages) will lead to a decrease in supply because the total cost and marginal cost will rise. As a result, they will supply less than before at all price levels, which will cause supply to fall and shift to the left.
Hence Demand for smartphones rises and shifts to the right, while supply of economic boom rises and shifts to the left. This will cause the equilibrium price to rise, and the equilibrium price will follow.
Equilibrium quantity will rise if rightward shift in demand curve is greater than leftward shift in supply curve, fall if rightward shift in demand curve is smaller than leftward shift in supply curve, and remain unchanged if rightward shift in demand curve is equal to leftward shift in supply economic boom curve.
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A borrower has a 20-year mortgage loan for $351,483 with an interest rate of 8 nd monthly payments. if she wants to pay off the loan after 7 years, what would be the outstanding balance on the loan?
A borrower has a $351,483 home debt with 20 years left on it and monthly installments of 8. The loan has an unpaid balance of $174,961.5609.
Here is the Solution:
First, let's find the monthly payment.
Monthly interest rate =[tex](1 + 0.06)^{(1/12)} - 1 = 0.486755057%[/tex]
I/Y = 0.486755057
N = 30 [tex]\times[/tex] 12 = 360 payments
PV = 200,000
FV = 0
Find PMT to get $1,178.740834
Number of payments left after 8 years = (30 - 8)[tex]\times[/tex]12 = 264
Compute the PV to get the loan outstanding after 8 years with
N = 264
I/Y = 0.486755057
PMT = -1,178.740834
FV = 0
Find PV to get $174,961.5609
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