The December 31 adjusting entry to record $400 of revenue which the seller has performed for its customers but not yet collected leads to both sales revenue and accounts receivable accounts being raised by $400.
As a result of the company selling the customer goods worth $400, the sales income in the books of accounts should increase by $400. When ownership of the products is transferred to the buyer, the seller registers the sales transaction.
Additionally, the company will add $400 to its accounts receivable. This is due to the fact that the purchase was made on credit and the buyer has not yet paid the purchase price. An increase in accounts receivable might either mean that the company sold more products within a particular time frame or that invoice payments are not arriving on time.
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A 12-year annual payment corporate bond has a market price of $925. it pays annual interest of $60 and its required rate of return is 7 percent. by how much is the bond mispriced?
The time period of the bond is the amount of time among bond issuance and bond adulthood. at the maturity date of a time period bond, the bond's face fee, the most amount, need to be repaid to the bondholder. term bonds may be contrasted with serial bonds, which mature in installments over a period of time.
Prize Bond of the Bond = present cost of coupon bills + present fee of Par fee
= $60 x [ PVIFA 7%, 12 Years] + $1,000 x [ PVIF 7%, 12 Years]
= [ $60 x 7.942686 ] + [ $1,000 x 0.444011 ]
= $476.fifty six + 444.01
= $920.57
The Bond is mispriced by means of $four.43 [ $925 – 920.57 ]
way to 2nd query
Prize Bond of the Bond = present fee of coupon bills + present rate of Par fee
= $35 x [ PVIFA 3%, 16 Years] + $1,000 x [ PVIF 3%, 16 Years]
= [ $35 x 12.56110 ] + [ $1,000 x 0.623167]
= $439.sixty four + 623.17
= $1,062.eighty one
Bond fee = $1,062.80 one.
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A company earned $2,000 in net income for october. its net sales for october were $10,000. what is its profit margin ratio?
A company earned Its profit margin ratio 20% from it's October net sales
Calculating:
profit margin= net income ÷ net sales
profit margin=2,000/10,000
=20%
What does margin of profit mean?
Profit margin is defined as the difference between the total cost to run your business and the total revenue it brings in. the highest your profit margin, the extra money your business gets to have .
What is meaning of net income?
Net income refers to the amount an individual or business makes after decreasing costs, allowances and taxe's. In commerce, net is termed as what the business has left over after all costs , including salary and wages, cost of product's or raw material and taxes.
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What type of account is prepaid rent?
a. an asset
b. a liability
c. an expense
d. shareholders' equity quizlwt
Prepaid rent in advance is a form of asset.
Rent that has been paid in advance is an asset for the renter because they are entitled to a number of financial benefits (such as use of the property) as a result. It's that easy. This satisfies the definition of an asset according to current accounting conceptual frameworks.
For definitions, we frequently resort to the International Financial Reporting Standards (IFRS) Conceptual Framework. An asset is described as "...a present economic resource held by the entity [or person] as a result of previous events" in the definition. The framework continues, "a right that has the capacity to provide economic advantages" is how it defines an economic resource.
These conceptual frameworks used to focus more on income and expenditure, but during the past few decades, assets and liabilities have become their primary focus. In many aspects, this method greatly simplifies the process of classifying transactions. The tenant has an asset, like in our instance with the prepaid rent (most if not all of it a current asset).
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Paul vidal de la blache promoted a viewpoint called ______ in which the natural environment could constrain or limit culture, making some variants more or less likely than others.
Paul Vidal de la Blache promoted a viewpoint called possibilism in which the natural environment could constrain or limit culture, making some variants more or less likely than others.
Possibilism is an antidote to both determinism and environmental determinism. It is predicated on the assumption that the environment imposes certain constraints or limitations, but that culture is determined by social conditions. According to this theory, the true and only geographical problem is the utilization of possibilities.
The essence of Possibilism is as follows:
Nature provides opportunities, which man exploits based on his culture, traditions, and socioeconomic status.People are not simply byproducts of their environment or pawns of nature.Nature is never more than a consultant.There are no necessities, only possibilities.In every region, the range of possibilities is limited more by the price man is willing to pay for what he wants than by environmental constraints.Learn more about possibilism here:
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Cash received in advance from clients for legal services is recorded in unearned revenue. the end-of-period adjusting entry to record the portion of revenue that has been earned is:________
Answer:
Debit Unearned Revenue and Credit Legal Revenue
Explanation:
The end-of-period adjustment entry in the journals to record the portion of revenue that has been earned is debit unearned revenue and credit revenue. Therefore, the option C holds true.
What is the significance of an adjusting entry?An adjusting entry in the books of the journal entries of a firm are done when the transaction takes place after the actual entries for the current period are already recorded in the journal entries of the current given financial period.
When an unearned revenue is received in part at the end of the year, it is credited in the part it has been received, and the remaining revenue is debited in the journal entry at the end of period.
Therefore, the option C holds true and states regarding the significance of an adjusting entry.
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The missing options to the incomplete question has been added below.
debit unearned revenue and credit revenue
debit revenue and credit unearned revenue
cash account debit and an unearned revenue account credit.
No adjustment entry is to be made
Attorneys who are part of the executive or midlevel management team of large companies are known as?
Attorneys who are part of the executive or midlevel management team of large companies are known as In-house counsel.
Who are Attorneys?A person who prepares, interprets, and applies the law as an advocate, attorney at law, barrister, barrister-at-law, solicitor, canonist, canon lawyer, legal executive, or public servant—but not as a paralegal or charter executive secretary—is referred to as a lawyer or attorney.
Lawyers can find employment in the public sector as district attorneys, public defenders, or even for the federal government.
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Royce corp's sales last year were $280,000, and its net income was $23,000. what was its profit margin? group of answer choices
Answer:8.21%
Explanation:
math
The profit margin is 8.21%.
Calculating,
Profit margin = [tex]\frac{net income}{sales}[/tex]
= [tex]\frac{23,000}{280,000}[/tex]
= 8.21%
Profitability is gauged by profit margin. Finding the profit as a percentage of revenue is used to calculate it. Gross profit margin, operating profit margin, and net profit margin are the three different types of profit margins. Gross profit is multiplied by net sales to determine gross profit margin. You can determine how much profit your company has made for each dollar of sales by looking at the profit margin or percentage. Simply put, the profit margin is significant because it indicates how much of each dollar of revenue goes to the company's bottom line. Profit margin, which is expressed as a percentage of profit, is the amount of money a business makes for every dollar of sales. A company's profit margin increases if it generates more revenue for each sale.
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Plastic and steel are substitutes in the production of body panels for certain automobiles. if the price of plastic increases, with other things remaining the same, we would expect:________
Plastic and steel are substitutes in the production of body panels for certain automobiles. If the price of plastic increases, with other things remaining the same, we would expect: the price of steel to fall.
Which kind of production do you mean?
The ideal decision is A Producing goods and services to meet consumer demands is known as production. Producing goods and services to meet consumer demands is known as production. The method yields the final product. Land, capital, labor, and organization make up the four components of production.
Production is the act of manufacturing, gathering, or constructing something, as well as the volume in which something was produced. The making of furniture is an illustration of production. Harvesting corn for consumption is an example of production. The quantity of grain produced is an illustration of production.
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A company maintains the asset account, cash, on its books, while the bank maintains a reciprocal account that is:______.
A company maintains the asset account, cash, on its books, while the bank maintains a reciprocal account which is a stockholders' equity account.
The equity account represents the financial ownership of a business and is shown on the balance sheet immediately after the liabilities account. There are different types of equity accounts that are aggregated to form equity. Almost all equity accounts have a credit balance. This means that a debit entry (to the left of account T) for an equity account means a decrease in the balance of that account, while a credit entry means the balance of the account is reduced account increased.
Equity, also known as net assets, is the amount remaining after paying the total liabilities of the business. In other words, total equity is calculated by subtracting the total assets of the business from its total liabilities. Equity is the amount of money contributed by the shareholders to start the business and keep the business running. Equity can also be built by withholding residual income, for example, if a company generates net income and does not pay shareholders, then equity will increase.
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What was not among the economic motivators for england to acquire new world colonies?
It was not for economic reasons that England bought colonies in the New World to fill labor shortages.
In the event of a labor shortage, firms will find it challenging to fill unfilled positions with competent candidates. The roles they are hiring for don't have enough individuals to fill them, and the ones who are available are difficult to find.
But there may be more to labor shortages than meets the eye. There are certain positions that are more difficult to fill than others, and certain industries find it more difficult to attract and keep people.
What you should know about labor shortages, the industries and professions with the greatest need for workers, and how a labor shortage can help your career are all provided below.
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Sze is riding her beach cruiser. her ability to sense how her torso is adjusting to the speed of her cycling and how her legs are pumping up and down is called?
Felix is riding his bicycle. His ability to sense how his torso is adjusting to the speed of his cycling and how his legs are pumping up and down is called kinesthesia.
What is kinesthesia?A sense produced by receptors in muscles, tendons, and joints that are triggered by tension and movement of the body. also sensory experience derived from this sense.
The sense of proprioception, also known as kinesthesia, enables us to recognise the location, motion, and function of various body parts. It includes a variety of sensations, such as the perception of joint position and movement, muscle force, and effort.
The kinesthetic system entails a number of receptors in connective tissues of joints and tendons that pick up sensory signals and transmit information to the sensory cortex of the brain via the nervous system. The joint or limb's position and motion are then perceived by the brain.
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Mary brings an action against the trucking company in federal court. the trucking company files a motion to dismiss for lack of jurisdiction. how will the court rule?
Mary got hit by the crates that flew off a truck and causes numerous injuries. The truck company is Incorporated in South Carolina and has headquartered in Georgia. The company does jurisdiction all through the Southeast.
Jurisdiction Tallahassee when a huge case took off a truck and hit her. Mary had various wounds. She caused a lot of torment and enduring and couldn't work. She needs to sue the shipping organization for $300,000 in harm. The organization is consolidated in South Carolina and has its home office in Georgia, and the organization works together all through the Southeast. Mary brings an activity against the shipping organization in Federal Court. The shipping organization documents a movement to excuse the absence of the locale. the issue is how the court will rule.
A federal court can hear a case dependent on assorted variety citizenship and if the sum in the discussion is over $75000. For this situation, MC is a resident of Florida and the firm is from Georgia: the sum in the debate is $300,000 which is obviously over $75,000. This case could then be heard in a government court dependent on assorted variety.
For the Florida state court to hear the case, they should have purview over the respondent. The state can have purview over the firm (or fuse) if the firm can be regarded as an occupant of the state by working together. For this situation, the firm works together in Florida and along these lines, the state has purview over them. Besides, the mishap happened in that state and they would have an enthusiasm for ensuring their resident, MC.
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The qualitative characteristics outlined in the fasb's conceptual framework include:______.
Fundamental and enhancing are two of the qualitative traits listed in the conceptual framework of the fasb.
Providing a foundation for existence or identifying a structure or function that is essential: basic Democracy is predicated on responsibility. Our fundamental rights are protected by the Constitution. B: acting as a source of innovative or creative ideas; a key discovery in the development of contemporary computers.
A fundamental thing is one that is fundamental or necessary. A prime example of a fundamental truth is the core tenet of a particular religion. becoming or acting as the primary element of a system or organization.
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True or false. you must have an additional sophos central license to use central firewall management.
The given statement exists true. You must have an additional Sophos central license to use central firewall management.
Is Sophos Central Firewall Manager available for free?Sophos Central makes managing a single firewall or hundreds of them simple - and free. Take advantage of free zero-touch deployment, group firewall management, and flexible reporting tools. Navigate to System > Administration > Central administration. To enable central management, enable Manage your firewall using. To manage your firewall, use Sophos Firewall Manager (SFM), Sophos Central Firewall Manager (CFM), or Sophos Central.Navigate to the customer's Sophos Central Dashboard instance. Navigate to Settings under Endpoint Protection / Server Protection. Select Registered Firewall Appliances from the Administration menu. Check to see if the firewall is visible here.Firewall Manager from Sophos. Complete centralized management Complete firewall administration for all of your devices. Centrally manage firewall policies and configuration for all of your network security features, including application filtering, web filtering, intrusion prevention, VPN, email, and more.To learn more about Sophos Central Firewall Manager refer to:
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A+product+with+an+msrp+of+$10.00+has+a+volume+discount+of+30%+and+a+promotion+allowance+of+15%.+how+much+will+the+distributor+receive+in+promotion+allowance+for+each+unit?
Distributor will receive 1.05 in promotion allowance for each unit.
What is meant by promotion allowance?Promotional Allowances are items and services provided to hotel guests as an incentive to gamble there, such as free food, drinks, entertainment, and parking. Price reductions known as "promotional allowances" are provided by a product's producers or suppliers to commercial partners like distributors in an effort to entice them to promote the product and increase sales.
Discounts are the term for incentives used to encourage sales, whereas allowances are the term for incentives used to encourage payments (which apply only to purchases made on credit). Retail and wholesale businesses employ discounts most frequently (for instance, when a store has a 10% off sale).
Given;
Volume discount = 30%
promotion allowance = 15%
Distributor receive promotion allowance for each unit = Price after volume discount * % of promotion allowance
30-100= 70%
($10x70%)*5= 1.05 Per Unit
Distributor will receive 1.05 in promotion allowance for each unit.
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A ________ can be defined as a recurring period of decline that usually lasts 6 months to a year and includes many widespread contractions from many areas of the economy.
A recession can be defined as a recurring period of deadline usually lasts 6 months a year and features numerous widespread declines from numerous economic sectors.
A significant, pervasive, and protracted decline in economy activity is referred to as a recession. A recession is often defined as two quarters of declining overall gross domestic product (GDP) in a row. Total production, consumer spending, and employment all often experience reductions during recessions.
From the peak of the previous expansion to the low point of the downturn, economists calculate the length of a recession. Recessions may only last a few months, but it may take years for the economy to recover to stable state. Unemployment is the most difficult to recover from a recession.
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The federal housing administration, government national mortgage association, and the office of fair housing and equal opportunity all operate under ______.
The federal housing administration, government national mortgage association, and the office of fair housing and equal opportunity all operate under The U.S. Department of Housing and Urban Development.
The National Housing Act of 1934 included the creation of the Federal Housing Administration (FHA), a government organisation in the United States. The FHA establishes requirements for building and underwriting and insures mortgage loans for new homes taken out by banks and other private lenders.
Nearly 50 million mortgages on homes have been insured by the FHA and HUD since 1934. Currently, the FHA's portfolio includes over 3,900 mortgages for hospitals and residential care facilities, over 11,000 insured multifamily mortgages, and roughly 8.5 million insured single family mortgages.
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Executives of a national insurance underwriting firm has informed its district managers of a new goal to improve customer retention. The district managers will set goals to be achieved over the next 6 to 24 months as part of ________ planning.
If the district managers will set goals to be achieved over the next 6 to 24 months as part of tactical planning.
What is Tactical planning?Tactical planning can be defined as the process in which a company tend to change their long term plan to a short term plan by setting a time frame in which they intend to achieve the set goals.
The executives are engaging in tactical planning based on the fact that the district managers have to set goals they will achieved over the next 6 to 24 months. Most companies tend to use tactical planning when planning on how to achieve their set goals by outlining the step of action they will use to achieve the goals.
Therefore If Executives of a national insurance underwriting firm has informed its district managers of a new goal to improve customer retention. The district managers will set goals to be achieved over the next 6 to 24 months as part of tactical planning.
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How would you characterize a company's accounts receivable account?
a. it is an asset account.
b. it is a liability account.
c. it is an expense account.
d. it is a revenue account.
If you describe an organization's accounts receivable account as an asset account, that is what you have.
The amount of money owed to a business for delivered or used but unpaid goods or services is known as accounts receivable (AR). The balance sheet classifies accounts receivable as a current asset. Any money owing by clients for purchases done using credit is known as AR.
Accounts receivable is the term used to describe any unpaid invoices or cash that customers owe a business. The term describes accounts that a company is entitled to since it has provided a good or service. Accounts receivable, also known as receivables, are a type of line of credit that a business extends to its customers, and its terms typically call for payments to be made within a short time frame. Usually, it varies from a few days to a fiscal or yearly year.
Because there is a legal need that the customer pay the debt, businesses include accounts receivable as an asset on their balance sheets.
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During a presidential campaign, the incumbent argues that he should be reelected because nominal gdp grew by 12 percent during his 4-year term in office. You know that population grew by 4 percent over the period and that the gdp deflator increased by 6 percent during the past 4 years. You should conclude that real gdp per person?.
Answer: The correct answer is Grew by 2%
Explanation:
Because nominal GDP increased by 12% through these years, it has a meaningful result of 12%.
The population increased by 4%.
GDP deflator has a meaningful result of 6% because it has likewise grown by 6%.
We already know the nominal GDP and the GDP deflator, thus we may use the following formula instead:
Now compute the Real Income per capita percent by multiplying 6 percent by (12 percent)/ (Real GDP per person percentage) x100.
As a result, we multiply both sides by the proportion of Real GDP to get:
We reduce both sides by 6 percent to get real GDP per person percent (6%) = 12 percent.
As a response, the real economy has grown by 2% since the GDP deflator improved rather than reduced, and nominal GDP is also positive.
Therefore if we have a fraction with a positive response, we know both fraction values must be positive, and if the GDP deflator grows, both fraction values must be positive.
Percentage paid to a lender for the use of borrowed money, or the percentage earned on invested principal.
The amount that lenders demand from borrowers in the form of interest is expressed as a percentage of the principal. It also includes any bank account earnings.
The fee paid for the right to borrow money is called interest. In contrast to how the interest rate used to compute interest is normally expressed, which is as an annual percentage rate, interest expense or revenue is frequently expressed as a dollar figure (APR). Interest is the payment a lender or financial organisation makes in exchange for extending credit. A stockholder's ownership stake in a corporation, which is typically expressed as a percentage, is another definition of interest. Interest is frequently linked to credit cards, mortgages, auto loans, personal loans, savings accounts, or fines. The macroeconomic policies set by the Federal Reserve's Federal funds rate heavily influence interest rates.
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According to the bureau of labor statistics, a husband who chooses to stay home and take care of the household is?
According to the bureau of labor statistics, a husband who chooses to stay home and take care of the household is not in the labor force.
The Bureau of Labor Statistics (BLS) :
The Bureau of Labor Statistics (BLS) is a division of the US Department of Labor. It is the primary fact-finding organisation for the United States government in the broad field of labour economics and statistics, and it is a key component of the United States Federal Statistical System. The Bureau of Labor Statistics (BLS) is a governmental statistical agency that collects, processes, analyses, and disseminates vital statistical data to the American public, the United States Congress, other Federal agencies, state and local governments, business and labour representatives, and the general public.
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Determine the interest rate earned on a $2,800 deposit when $3,400 is paid back in one year. (round your answer to 2 decimal places.)
The interest rate earned on a $2,800 deposit when $3,400 is paid back in one year is 21.43%
An interest in a savings account, literally, the bank pays you to keep your deposited money there. Savings accounts are compounded, which means that the interest we earn in one period is deposited into your account, and then in the next period, you earn interest on that interest. loan. Earned interest is like a bonus that a bank pays you just for keeping the money in the account, like savings.
A = P (1+r)^t
A= $ 3,400
P = $ 2,800
R = ??
t = 1 year
3,400 = 2,800 (1+r)^1
1.214285 = (1 + r)
0.2143 = r
R = 21.43%
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Suppose a basket of goods and services has been selected to calculate the cpi and 2020 has been selected as the base year. In 2019, the basket’s cost was $80; in 2020, the basket’s cost was $86; and in 2021, the basket’s cost was $90. The value of the cpi in 2021 was?.
Data provided as per the question below:
Cost of basket in 2021 = $90
Cost of the basket in base year = $86
Below is the calculation of the CPI value
Value of the CPI = (Cost of a basket in 2019 ÷ Cost of a basket in the base year) × 100
Value of the CPI = ($90 ÷ $86) × 100 = $104
The Consumer Price Index (CPI) is an index number that can calculate the average price of goods and services that have been consumed by the public as consumers. Conducted with the aim of measuring the inflation rate within a certain period of time, as well as a consideration in adjusting salaries, wages, pension funds, and other contracts.
Inflation is a tendency to increase the value or price of goods and services continuously. When the price of goods and services increases, inflation increases. But this continuous increase in the price of goods can cause the value of the currency to fall. Rising inflation eventually triggers a decrease in the value of the currency against the value of goods and services.
CPI indicator to measure the rate of inflation. Changes in CPI are a description of the rate of increase (inflation) or the rate of decline (deflation) of goods and services within a certain period of time. It is the Central Bureau of Statistics tasked with compiling this Consumer Price Index. Data that must be processed is usually obtained from consumers, producers and others. Determining the CPI uses certain methods and formulas. Usually, the CPI is calculated based on a survey of the cost of living in an urban area and is carried out in stages.
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In the sequence of events that led to snowden leaking large amounts of information to reporters, who did he contact first?
In the sequence of events that led to Snowden leaking large amounts of information to reporters, who did he contact first Laura.
Edward Joseph Snowden is a whistleblower who leaked distinctly classified facts. Snowden became running as a pc intelligence representative for the CIA (primary Intelligence employer) when he determined to expose the records, in 2013. His disclosure discovered diverse worldwide surveillance applications that reputedly violated man or woman privacy. Snowden referred to as out the dearth of ethics through inner channels, but all such tries had been discouraged and not noted. that is while he decided to go away from his process at the NSA facility in Hawaii.
Snowden started out thinking about leaking the documents in March 2007, when he turned posted as a technician at the Geneva CIA station. but only proceeded, while he determined to touch Glenn Greenwald, who was running as a journalist. Snowden approached Laura Poitras, who is a filmmaker. Greenwald started operating with Snowden in early 2013 after Poitras and Greenwald became acquainted.
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The raw materials used in manufacturing during the year totaled $1,073,000. raw materials purchased during the year amount to:__________
During the year, raw materials used in manufacturing amounted to $1,073,000. The cost of raw materials purchased for that year is $118,000.
Manufacturing is defined as making a new product from raw materials or components. Examples of manufacturing industries include automobile companies, bakeries, shoemakers, and tailors. Because they all make products and do not provide services. There are four basic manufacturing processes to produce the desired product shape. These are casting, machining, bonding (welding, mechanical bonding, epoxy, etc.), and deformation processes.
Manufacturing provides the foundation for many types of innovation. If the manufacturing process is incomplete, or if the know-how necessary to develop a product or the process for manufacturing a product is hidden and not systematic, if the factory is on the other side, it is impossible to innovate in that country.
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Jessica wants to save $100,000 in the next 10 years so she can have a good start on her retirement fund. How much will her monthly contributions need to be if she can earn a 12% return on her money?.
In order to get a head start on her retirement fund, Jessica plans to save $100,000 over the next ten years. If she can get a 12% return on her investment, she will need to make monthly instalments of $434.71.
Savings are important for two reasons: financial security and financial objectives. Confidence in your capacity to cover unforeseen expenses, pay for your own retirement, and maintain a chosen lifestyle is a result of financial stability and preparedness.
Goals can aid in maintaining perspective and reining in saving efforts. Your ability to accumulate your first $100,000 for any objective you may have in mind will depend on how much money you have to save, whether retirement from lower costs or higher income. And after you accomplish that, getting to the next $100,000 will be simpler.
So, In order to get a head start on her retirement fund, Jessica plans to save $100,000 over the next ten years. If she can get a 12% return on her investment, she will need to make monthly instalments of $434.71.
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DeNova Real Estate signed a four-month note payable in the amount of $6,000on September 1. The note requires interest at an annual rate of 6%. The amount of interest to be accrued at the end of September is:________
a. $360.
b. $90.
c. $30.
d. $60
The claim that, ceteris paribus, the quantity demanded of a good falls when the price of that good rises.
The claim that, ceteris paribus, the quantity of a good decreases when the price of that good increases is true.
The term ceteris paribus means when all the other things remain the same. So when all the other factors are related to the good, if the price of that good goes up then the demand will fall. The statement is true even if it is written vice-versa. When the price of the good falls the demand for that good will increase.
This statement is given by the law of demand. According to the law of demand, there exists an inverse relationship between the prices of the good and its quantity demand. There are also some exceptions to this rule which include goods like necessities. In these cases even if the price falls the demand will remain the same and vice-versa.
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Suppose congress increased spending by $100 billion and raised taxes by $100 billion to keep the budget balanced. what will happen to real equilibrium gdp?
The real equilibrium GDP will rise.
What is GDP?
A monetary indicator of the market worth of all the finished goods and services produced in a nation over a given time period is called the gross domestic product (GDP).
This measurement is frequently changed before it can be trusted as an indicator because of how complicated and subjective it is. While nominal GDP is better for comparing national economies on the global market, GDP per capita does not take into account differences in the cost of living and inflation rates of the various nations.
As a result, using GDP per capita at purchasing power parity may be more useful when comparing living standards between countries. The contribution of each industry or sector to the overall GDP can also be quantified.
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