a. The concept of equivalent units in process is used in process costing to express the total amount of work done on partially completed units in terms of fully completed units. b. In requirement "b", we are given that 12,000 liters of chemicals were 40% complete prior to the addition of the 220,000 liters.
In this case, since all direct materials are added at the beginning of the process and conversion costs occur evenly throughout the process, we can use the weighted-average method to calculate the equivalent units in process.
For direct materials, the total equivalent units in process are calculated as follows:
Units started and completed during the period: 220,000 liters
Units still in process: 5,000 liters
Total equivalent units in process: 225,000 liters
For conversion costs, we need to take into account the fact that 30% of the 5,000 liters still in process have been converted. Therefore, the total equivalent units in process for conversion costs are:
Units started and completed during the period: 220,000 liters
Units still in process: 5,000 x 30% = 1,500 liters
Total equivalent units in process: 221,500 liters
b. In this case it means that 40% of the conversion costs have already been incurred on these 12,000 liters before the new batch was added.
To calculate the equivalent units in process for direct materials, we can add the 12,000 liters that were already in process to the 220,000 liters started during the period, then subtract the 5,000 liters still in process. This gives us a total of 227,000 liters for direct materials.
For conversion costs, we need to take into account the 40% completion of the 12,000 liters that were already in process. This means that 60% of the conversion costs still need to be incurred on these units. We can use this information to calculate the equivalent units in process for conversion costs as follows:
Units started and completed during the period: 220,000 liters
Units still in process: 5,000 liters
Equivalent units in process for units already in process: 12,000 liters x 60% = 7,200 liters
Total equivalent units in process: 232,200 liters
Therefore, in requirement "b", the total equivalent units in process for direct materials is 227,000 liters, which includes the 12,000 liters that were already in process, and the total equivalent units in process for conversion costs is 232,200 liters, which takes into account the 40% completion of the 12,000 liters already in process.
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______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
synergy national bank issued a conventional loan that is eligible for purchase by fannie mae. when fannie mae purchases the loan, what will synergy national bank receive in return?
Synergy national bank issued a conventional loan that is eligible for purchase by Fannie Mae. When Fannie Mae purchase's the loan, what will Synergy national bank receive in return collect the fee's
Does Fannie Mae have anything to do with a conventional loan?A conventional mortgage loan is a "conforming" loan, which basically means it complies with Fannie Mae or Freddie Mac's standards. Mortgages are bought from lenders by government-sponsored companies Fannie Mae and Freddie Mac, who then sell them to investors.
To whom are loans sold to Fannie Mae?Fannie Mae is a GSE that buys mortgage loans from smaller banks or credit unions and backs or guarantees them on the mortgage market for borrowers with low to middle incomes.
Where can I locate any credits offered by the seller under the loan estimate?A: The Loan Estimate discloses seller credits as follows: The Calculating Cash to Close table includes information on general seller credits.
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ordinary kriging method assume that
when the price of good is RS4 the demand for the good is 25 units if the price increses to RS5 the demand falls to 15 units claculate the price elasticity
In order to make up for a budget deficit, the government can do what?
Answer:
print more money
Explanation:
it makes sense if u think bout it
Answer:
Budget deficit is when the government exceeds its budget, meaning they have spent a lot more money than they were initially supposed to, and thus need to get more money for other issues. So what the government will usually do is take out loans and sell government bonds.
Explanation:
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Builtrite had net profits after tax of $400,000. builtrite also paid a common stock dividend of $50,000 and a preferred stock dividend of $90,000. what are the eacs (earnings available to the common stockholder)?
Earnings on hand for Common Shareholders or Stockholders, commonly abbreviated as EAC. It is a term that refers to profit after taxation and statutory reserves addition and viable fee of desired dividends. Profit is paid out both as dividends or reinvested into the business.
What are income reachable for frequent stockholders?Earnings reachable for common stockholders is net after-tax profit, minus any favored dividends. Theoretically, the remainder represents the quantity of salary that a commercial enterprise ought to pay out to the proprietors of its frequent stock.
Basic earnings per share ought to be calculated via dividing the internet income or loss for the period attributable to equity shareholders with the aid of the weighted common number of equity shares magnificent all through the duration
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Multiple Choice
Values are principles that typically guide or influence an individual's decision-making process. Two
areas of life most often affected or influenced by values include
emotions and reactions
decisions and responses
physical health and feelings
attitudes and behaviors
The two spheres of life that are most frequently impacted or altered by values are attitudes and behaviors. The correct response is option (4).
Define attitudes and behaviors.An individual's attitude is defined as their mental perspective, or how they feel or think about someone or something. Behavior describes the actions, motions, conduct, or behaviors of an individual or a group toward other individuals. built upon. Experience and observation.
When people put more focus on their own attitudes and feelings, they tend to act more in line with those feelings, therefore there is a link between attitude and behavior. Additionally, when people feel greater responsibility for their individual actions rather than the actions of a collective, their opinions are more consistent with their behavior.
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Why non HR managers are becoming more involve traditionally , human resource management practices were developed
Answer:
What are you looking for exactly?
Explanation:
ve durel evaluation of your work.
Aa
:)))
Hola
Activity
Lydia is a senior in high school. She works 20 hours a week at a popular clothing store. She is trying to save as much
money as possible for her college tuition. However, she has to buy a dress for prom, pay her car insurance, and get a
birthday gift for her sister. This week she received a $400 paycheck. She wants to deposit the entire check in her
savings account for her college tuition, but she stops herself. She decides instead to put $100 in the bank, spend $200
for her prom dress, pay $80 for her car insurance, and buy her little sister a $20 birthday gift. While shopping, she
sees a doll worth $21, which she thinks her sister will absolutely love. As a result, she decided to buy the more
expensive doll and spend less on her dress.
Did Lydia make an all-or-nothing or a marginal decision while spending her money?
Answer:
marginal decision
Explanation:
Marginal decision involves spending a little more or a little less than what has already been planned for based on the benefit to be gotten. If the marginal benefit exceeds the marginal cost, then the choice is a good choice. Marginal decision are made by using marginal analysis, that is comparing the cost and benefits of spending a little more or a little less.
In this scenario, she spends $1 more to buy her sister a doll because she thinks her sister would love it. The marginal cost in this case is $1. As a result on spending more on the gift, she spends less on her dress.
Yesterday in class we discussed 4 Era’s of Marketing and how the situation of the world at that time impacted businesses, specifically, marketing. The assignment is to choose ONE of the following era’s and write a letter to a loved one as if you were just starting a job during the marketing era of your choice. In your letter you should mention what is happening in the world to cause this shift in marketing, and what your role is going to be. You can choose which company you are working for: maybe you are starting a job on the assembly line, or becoming a door to door salesperson! Be creative and have fun with it. If you want, try to imagine what the world was like during that time period and use language or current events to make your letter sound more believable.
The letter should be at least 2 paragraphs long and should display that you understand how businesses are using marketing in this new era.
4 Eras:
Production Era (1800’s - 1920)
Selling Era (1920s - 1950s)
Marketing Era (1950s - 1990s)
Value Era ( 1990s - Current )
What is the best definition of technology?
Technology is replacing human workers with mechanical or electronic devices.
Technology is applying scientific knowledge to find answers and fix problems.
Technology is using fewer resources to manufacture goods more efficiently.
Technology is hiring workers from all over the world to manufacture goods.
Answer:
technology is applying scientific knowledge to find answers and fix problems.
Explanation:
thats what i think. sorry if its wrong
Answer:
EDG: A-Technology is applying scientific knowledge to find answers and fix problems.
Explanation:
discuss wether trade unions always have a harmful effect on the wider economy
Answer:
1 could lead to disruption of economy
2 could lead to firm going out of business
3 it cause an increase in unemployment
4 output damage reputation of a country
5 can lead to higher wages
a firm has an roe of 4.8%, a debt-to-equity ratio of 0.6, and a tax rate of 35% and pays an interest rate of 8% on its debt. what is its operating roa?
Its operating ROA is 7.62%.
The term return on assets (ROA) refers to a monetary ratio that indicates how profitable a company is on the subject of its total assets. company control, analysts, and buyers can use ROA to determine how efficiently a employer makes use of its property to generate a earnings.
The return on assets indicates the percentage of how profitable a organization's assets are in producing sales.
Return on assets is a profitability ratio that provides how a lot earnings a corporation can generate from its assets. In different words, return on assets (ROA) measures how green a enterprise's management is in incomes a benefit from their financial sources or property on their balance sheet.
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the total export was 1 500 000 and the total import was 2 250 000 .. Calculate the balance of trade?
Answer:
-750,000
Explanation:
The export is generally the profit, or the amount gained from selling (either a service or a product). The import is the loss, as you pay for the commodity or service.
In this case:
Total import: 2 250 000
Total export: 1 500 000
2 250 000 - 1 500 000 = 750 000
The balance of trade is: -750,000 (or a loss of 750k).
~
Which of the following is a way to track your spending?
A. Spreadsheet budget
B. Envelope method
C. An app
D. All of the above
All of the above that is spreadsheet budget, envelope method and an app is a way to track your spending.
What is a budget?
A budget is a calculation plan, typically money but not always, for a specific time frame, typically one year or one month. Predicted sales and revenue amounts, resource quantities (such as time, costs, and expenditures), environmental impacts (such as greenhouse gas emissions), other impacts, assets, liabilities, and cash flows are all possible inclusions in a budget. Budgets are a measurable way for businesses, governments, families, and other organizations to communicate their strategic plans of action. Although budgets are used by both businesses and governments to keep track of revenues and expenses, you may be most acquainted with them as a tool for managing your personal finances.
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What is a stock exchange?
A. A place where investors can buy and sell different
investments.
B. A type of bank that buys and sells different types of
investments.
C. An organization that owns shares of stock.
D. None of the above
Answer:
A. A place where investors can buy and sell different investments.
Explanation:
A stock exchange is a place for the exchange of stocks in the market. In other words, it is a place where investors could 'meet' to buy or sell stocks, be it investments, company shares, or company securities.
A stock market, in simple words, is the marketplace for the buying and selling of investments, a trading place for buyers and sellers. So, a stock exchange is a transaction dealing with stocks, equities, or shares of the commercial world. And the transaction or exchange can only be done if the stock is listed on an exchange.
Thus, the correct answer is option A.
Answer:
A. A place where investors can buy and sell different investments.
Explanation:
The concept behind how the stock market works is pretty simple. Operating much like an auction house, the stock market enables buyers and sellers to negotiate prices and make trades. ... Investors can then buy and sell these stocks among themselves, and the exchange tracks the supply and demand of each listed stock.
WARM UP: If a person dies in cold weather, does that increase or decrease rigor mortis? What about Warm weather?
Answer:
cold weather:decrease rigor mortis warm weather: increase
Explanation:
Ambient temperature: Warm conditions speed up the onset and pace of rigor mortis by providing a hospitable environment for the bacteria and processes that cause decay. Cold temperatures, on the other hand, slow it down. If someone dies outside in freezing temperatures, rigor mortis can last for days.
Not only does the surrounding ambient temperature affect the onset of rigor mortis, but the internal temperature of the body at death does as well. Having a high fever at the time of death will accelerate the progression of rigor mortis.
The coupon payments for the following are paid semi-annually: Bond 1: Par= $100, Annual Coupon Rate = 0, Maturity=0.5 yeras. Market Price =98 Bond 2: Par =$100, Annual Coupon Rate = 4, Maturity = 1 year, Market Price = 98.8 Bond 3: Par = $100, Annual Coupon Rate = 6.2, Maturity = 1.5 years, Market Price= 101 1. a test bond with par value=100, annual coupon rate=4.8% (paid semi-annually), maturity=one year, and market price=100.50 is: 2. the arbitrage strategy for each unit of the test bond traded, is to:
The 12-month par yield for bonds that pay semi-annual coupon payments is: 5.12%. The correct option is B.
The 18-month par yield for bonds that pay semi-annual coupon payments is: 5.351%.
To calculate the par yield, we need to use the formula:
Market Price = (C/2) / (1 + y/2)^t + (C/2) / (1 + y/2)^(t+1) + ... + (C/2 + Par) / (1 + y/2)^(n)
where C is the semi-annual coupon payment, y is the semi-annual par yield, t is the number of semi-annual periods to the next coupon payment, and n is the total number of semi-annual periods until maturity.
For Bond 1, since it has no coupon payment, the par yield is simply the discount rate that equates the market price to the par value, which is $100. Therefore, the par yield for Bond 1 is:
y = ln(Par/Market Price) / t = ln(100/98) / 1 = 0.0202 or 2.02%
For Bond 2, we can plug in the given values into the formula and solve for y:
98.8 = 2 / (1 + y/2)^1 + 104 / (1 + y/2)^2
y = 2 x (104 / 98.8 - 1)^(-2) = 0.0512 or 5.12%
For Bond 3, we can follow the same procedure:
101 = 3.1 / (1 + y/2)^1 + 3.1 / (1 + y/2)^2 + 103.1 / (1 + y/2)^3
y = 2 x (3.1/98.8 + 3.1/((1+y/2)^2 x 98.8) + 103.1/((1+y/2)^3 x 98.8) - 1)^(-3) = 0.05351 or 5.351%
Therefore, the 12-month par yield is 5.12% and the 18-month par yield is 5.351%.
The 12-month par yield for bonds that pay semi-annual coupon payments is: 5.12%. The correct option is B.
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Complete question:
The coupon payments for the following are paid semi-annually:
Bond 1: Par= $100, Annual Coupon Rate = 0, Maturity=0.5 yeras. Market Price =98
Bond 2: Par =$100, Annual Coupon Rate = 4, Maturity = 1 year, Market Price = 98.8
Bond 3: Par = $100, Annual Coupon Rate = 6.2, Maturity = 1.5 years, Market Price= 101
1) The 12 - month par yield for bonds that pay semi-annual coupon payments is:
a) 4.081%
b)5.12%
c) 5.24%
d)5.351%
e)5.597%
2) The 18 - month par yield for bonds that pay semi-annual coupon payments is:
a) 4.081%
b) 5.12 %
c) 5.24%
d)5.351%
e)5.597%
What role does the mission statement play in the planning process?Sets company directionGuides day to day activitiesSets purpose of businessLinks strategy and operations
The mission statement plays a critical role in the planning process of a business by setting the direction and purpose for the organization.
What is the basis for startups’ strategic planning?The primary reason for a startup's existence is described in its mission statement. It outlines the social impact that the group hopes to have. The mission statement serves as the foundation for developing the strategic objectives and the strategic plan, not as a strategic objective. This makes sure that the startup's objectives are consistent with the principles upon which it was established.
Everyone may not agree that a mission statement is important. Many businesses also manage just fine without one. We think it's critical for entrepreneurs to develop a mission statement. A well-crafted mission statement can serve as the startup's foundation by highlighting the factors that bring its stakeholders together (customers, shareholders and employees).
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What is a tax return?
Answer: C. A form sent to the IRS which reports your annual income and deductions
Answer:
dawg answered his own question
Explanation:
Shareholders preference for dividend versus capital gains can potentially influence a firm's payout policy. i. Explain what is meant by the term dividend policy and discuss the two main issues that can affect such policy. ii. Discuss the key reasons why some investors prefer dividend. iii. Discuss the key reasons why some investors prefer capital gains
i. Dividend policy refers to the decisions made by a company regarding the amount and timing of dividend payments to its shareholders.
It is a crucial aspect of a firm's payout policy and involves determining whether profits should be distributed to shareholders in the form of dividends or retained within the company for reinvestment. Two main issues that can affect dividend policy are:
1. Stability: Companies need to decide whether to maintain a stable dividend policy, where dividend payments remain relatively constant over time, or adopt a variable policy, adjusting dividends based on earnings and cash flow fluctuations.
ii. Some investors prefer dividends for the following key reasons:
1. Income: Dividends provide a regular income stream for investors, especially those who rely on investment income to cover their living expenses.
iii. Some investors prefer capital gains for the following key reasons:
1. Growth potential: Investors seeking capital gains prioritize the potential for the stock price to increase over time. They believe that by investing in companies with growth prospects, they can achieve higher returns through price appreciation when they eventually sell their shares.
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Mary was shopping in a clothing store. She had $100 to spend. She found three items she liked: $99 for a pair of shoes, $98 for a jacket, and $96 for a dress. After over an hour of shopping, she decided to buy the jacket for $98. What was her opportunity cost?
Answer:
She have two opportunity cost: 1. Shoes
2. Dress
With the return back money of $2
Opportunity cost is the return of a foregone option less than the return on your chosen option.
Which of the following should NOT appear on a resume?
age
work experience
education
references
Answer:
Age
Explanation:
Age should not appear on a resume.
Extra : -
These also should not appear on a resume
Too much informationA solid wall of text.Spelling mistakes and grammatical errors.Inaccuracies about your qualifications or experience.Unnecessary personal information.Your age.Negative comments about a former employer.Details about your hobbies and interests.Millie, age 80, is supported during the current year as follows: Percent of Support Weston (a son) 20% Faith (a daughter) 35% Jake (a cousin) 25% Brayden (unrelated close family friend) 20% During the year, Millie lives in an assisted living facility. Under a multiple support agreement, indicate which parties can qualify to claim Millie as a dependent. a.Weston, Faith, Jake, and Brayden. b.Weston and Faith. c.Faith, Jake, and Brayden. d.Faith.
The parties who may qualify to claim Millie as a dependent are Weston and Faith (option B)
A support agreement is a contract between one or more people who voluntarily agree to support other people (usually children or elderly parents).
In the case presented, the people who qualify are:
Weston and Faith (option B)These two people qualify because between them they give more than 50% of the support and are closely related to Millie, they are her children.
On the other hand, Jake and Brayden do not classify because they do not contribute equally or more than 50% of the support and one of them is not related to Millie.
According to the above, the correct answer is B, because it mentions the people who qualify to claim Millie as a dependent.
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please please.pleas help me
What are the advantages and disadvantages of consulting
NO LINKS!!!
Answer:
Advantages of Being a Consultant:
You can learn many skills
Consulting allows you to build a powerful network
You get responsible tasks from the beginning
Perfect if you like to travel
You learn to work with the latest technologies
You can work in project teams
Consulting allows you to see many new things
You can work with many clients
Continuous training
You can work with other motivated people in consulting
Consulting teams support each other
You work on demanding projects
Good for your CV
You learn how to deal with stress
Consultants can earn pretty good money
Great exit options
You can work on many projects
Consulting never gets boring
Explanation:
Disadvantages of Being a Consultant:
Pressure in consulting can be high
Strict deadlines are a problem
You will be pushed to your boundaries
Consulting can imply working long hours
You may be away from home during the week
Being a consultant can be lonely
Some people develop mental issues
No real work-life balance
Problematic in case you have children
You have to represent the company
Many of your colleagues will leave
Insecurity regarding what comes next
Great swings in workload
Unsatisfying outcomes
Success greatly depends on the project manager
Time periods for a goal include which of the following? short-term mid-term intermediate-term long-term
Answer:
1. short-term
2. mid-term
3. long-term
Explanation:
Goals can be classified depending on the time taken to accomplish them. In this classification, three categories emerge.
Short-term goals are goals that take less than one year to achieve. They may take a day, two days, weeks, months but not more than 12 months.
Midterm goals usually take between one year and five years to accomplish. They form a link between the long term and short term goals.
Long term goal takes more than five years and beyond to accomplish. Some may even take a lifetime. To achieve long-term goals, they are split into smaller, easy to manage short and midterm objectives.
Answer:
1. short-term
2. mid-term
3. long-term
Explanation:
gupta corporation is undergoing a restructuring, and its free cash flows are expected to vary considerably during the next few years. however, the fcf is expected to be $80.00 million in year 5, and the fcf growth rate is expected to be a constant 6.5% beyond that point. the weighted average cost of capital is 11.5%. what is the horizon (or continuing) value (in millions) at t
Horizon value (in millions) at t can be found through the formula shown below:
Horizon Value = (FCF at T * (1 + Terminal Growth Rate)) / (WACC - Terminal Growth Rate)
Here, the FCF at year 5 is given to be $80.00 million.
Terminal growth rate is 6.5% and WACC (weighted average cost of capital) is 11.5%.
Now we can plug these values into the formula to calculate the horizon value.
Horizon Value = (80.00 * (1 + 0.065)) / (0.115 - 0.065)
Horizon Value = $1,089.66 million
Therefore, the horizon value (in millions) at t is $1,089.66 million.
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9. Which of the following is a true statement? Explain your reasoning.
The 52-week high can never be higher than the day's high.
The day's high can never be higher than the 52-week high.
That statement is true. The 52-week high is the highest amount for the entire year. Thus, the day's high can only be as high as the 52-week high and never higher.
The word “amount ” is used to explain the size or amount of non-depend nouns. For instance, you could measure the quantity of water in a beaker or the amount of air in a bottle. Similarly, you may realize the amount of cat hair that is seen on a blanket or the amount of salt a clinical patient has eaten lately.
As designated above, 'quantity' may be a noun or a verb. Noun usage: Pour a small amount of water into the dish. Noun usage: The puppies want unique quantities of food. Verb usage: It amounts to three bucks and alternate.
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Because of a job change, Fred Presley has just relocated to the Pacific Northwest. He sold his furniture before he moved, so he's now shopping for new furnishings. At a local furniture store he's found an assortment of couches, chairs, tables, and beds that he thinks would look great in his new two-bedroom apartment; the total cost for everything is $6,400. Because of moving costs, Fred is a bit short of cash right now, so he’s decided to take out an installment loan for $6,400 to pay for the furniture. The furniture store offers to lend him the money for 48 months at an add-on interest rate of 8.5%. The credit union at Fred's firm also offers to lend him the money—they’ll give him the loan at an interest rate of 9% simple, but only for a term of 24 months.
a. Compute the monthly payments for both of the loan offers.
b. Determine the APR for both loans.
c. Which is more important: low payments or a low APR? Explain.
Fred Presley is looking for financing options to purchase new furnishings for his new apartment. He has found two options: the furniture store's offer for an installment loan of $6,400 for 48 months at an add-on interest rate of 8.5%, and the credit union at his firm's offer for a loan at an interest rate of 9% simple for a term of 24 months.
a. To compute the monthly payments for both loan offers, we can use the following formulas:
- For the furniture store's loan:
Total loan cost = Principal amount + (Principal amount x add-on interest rate x number of periods)
$6,400 + ($6,400 x 0.085 x 48) = $10,169.60
Monthly payment = Total loan cost / number of periods
$10,169.60 / 48 = $211.87
- For the credit union's loan:
Total interest = Principal amount x interest rate x number of periods
$6,400 x 0.09 x 2 = $1,152
Total loan cost = Principal amount + Total interest
$6,400 + $1,152 = $7,552
Monthly payment = Total loan cost / number of periods
$7,552 / 24 = $314.67
Therefore, the monthly payment for the furniture store's loan is $211.87, and the monthly payment for the credit union's loan is $314.67.
b. To determine the APR for both loans, we can use the following formulas:
- For the furniture store's loan:
APR = (add-on interest rate x number of periods x 100) / (number of periods x average principal balance)
APR = (0.085 x 48 x 100) / (48 x $6,400/2)
APR = 17.62%
- For the credit union's loan:
APR = (interest rate x number of periods x 100) / (number of periods x average principal balance)
APR = (0.09 x 24 x 100) / (24 x $6,400/2)
APR = 9%
Therefore, the APR for the furniture store's loan is 17.62%, and the APR for the credit union's loan is 9%.
a. The monthly payment for the furniture store's loan is calculated using the add-on interest rate, which means that the interest is added to the principal amount upfront. This makes the monthly payment lower compared to the credit union's loan, which uses a simple interest rate that is applied to the outstanding balance. As a result, the monthly payment for the credit union's loan is higher.
b. The APR takes into account not only the interest rate but also any fees or charges associated with the loan. The APR for the furniture store's loan is higher because it includes the add-on interest rate and the fees charged by the furniture store, such as origination fees or administrative fees. The APR for the credit union's loan is lower because it only includes the interest rate.
c. When choosing between low payments and a low APR, it is important to consider the overall cost of the loan. In this case, even though the monthly payment for the furniture store's loan is lower, the APR is much higher, which means that Fred will end up paying more in interest and fees over the life of the loan. Therefore, it is better to choose a loan with a lower APR, even if it means higher monthly payments. This will help save money in the long run.
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.
Lena thinks someone has stolen her identity. She isn’t sure if she should place a fraud alert on her credit report. She doesn’t understand anything about fraud alerts. What true statement could you teach Lena to help her make a more informed decision?
A fraud alert prevents anyone from viewing your credit report.
A fraud alert can stop anyone from opening any new accounts in your name.
When filing a fraud alert, you must first pay for a credit report.
To place a fraud alert, you must contact all three credit reporting agencies.
Answer:
A fraud alert prevents anyone from viewing your credit report
A fraud alert prevents anyone from viewing the credit report is the true statement could you teach Lena to help her make a more informed decision. Thus, option A is correct.
What is credit report?A credit history is a credit record of a borrower's timely debt repayment. A credit report is a record of a borrower's credit history obtained from a variety of sources, such as banks, credit card companies, collection agencies, and governments.
A credit score is essentially a summary of your credit history, whereas your credit report contains all the specifics of the financial history. The credit report will delve much deeper into your lending history, allowing the lender to examine how a person handled borrowed funds.
Therefore, option A is correct.
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