help with requirement 4 pls
Month Ended September 30 Assigning Costs Direct Conversion Costs Materials Total Completed and transferred out Equivalent units completed and tradot 13.000 13,000 Multiplied by: Cost per equivalent un
Answers
Requirement 4 requires us to complete the equivalent units schedule. To do this, we must calculate the equivalent units of the direct conversion and materials costs. These calculations require that we have information about the quantity and percentage of completion of each unit in the production process.
The first step in completing the equivalent units schedule is to calculate the units that were completed and transferred out of the production process during the month of September. Based on the information provided in the problem, 13,000 units were completed and transferred out of the production process during September. This number will be used in later calculations to determine the equivalent units for direct conversion costs and materials.
Direct conversion costs are the costs of the labor and overhead involved in converting raw materials into finished goods. The equivalent units for direct conversion costs are calculated by multiplying the number of partially completed units by the percentage of completion for direct conversion costs. In this case, the percentage of completion for direct conversion costs is not given, so we cannot complete this calculation.The materials equivalent units are calculated in a similar manner. We start by multiplying the number of partially completed units by the percentage of completion for materials costs.
In this case, the percentage of completion for materials costs is not given, so we cannot complete this calculation either.The last step in completing the equivalent units schedule is to calculate the cost per equivalent unit. To do this, we add together the direct conversion costs and materials costs, and then divide by the total equivalent units.
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Related Questions
True or False: Forecasting creates certainties about the future of the company.
Answers
The given statement "Forecasting creates certainties about the future of the company" is false because is a valuable tool for businesses to make better-informed decisions.
Forecasting does not create certainties about the future of the company, but it does help in making informed decisions and reducing uncertainties. Forecasting is the process of making predictions about the future based on past and present data and analyzing trends.
It plays a crucial role in the strategic planning process, allowing companies to anticipate changes and prepare for various scenarios.
While forecasting can provide valuable insights into the possible outcomes of future events, it cannot guarantee the accuracy of these predictions. Several factors can influence the outcome, including unforeseen external circumstances and changes in consumer behavior.
Forecasting models rely on historical data, and there is always a level of uncertainty in the future projections.
To improve the accuracy of forecasts, companies often use different forecasting methods and techniques, such as time series analysis, regression analysis, and qualitative methods. Combining multiple approaches can help mitigate the risk of relying on a single forecast.
In conclusion, forecasting is a valuable tool for businesses to make better-informed decisions, but it does not create certainties about the future of the company. It is essential to understand that forecasts are based on assumptions and can be subject to change due to various factors.
Therefore, businesses should be prepared to adapt and adjust their strategies as needed.
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multiple choice-- economics
Entrepreneurs do all of the following EXCEPT ...
Come up with new ideas about what, how, when, and where to produce
Own all the other resources
Organize labor, land, and capital
Bear risk from business decisions
Answers
Entrepreneurs do all of the following except own all the other resources. Thus, the correct answer is option B.
Who are Entrepreneurs ?An entrepreneur is someone who has an idea and tries to develop a good product or service that others will purchase, together with a business to help them in their endeavour. An entrepreneur is seen as a visionary or an innovator since they take on the majority of the risk and responsibility for their new company.
An individual who starts a new firm, taking on the majority of the risks and reaping the majority of the gains, is known as an entrepreneur. The entrepreneur is frequently viewed as an innovator, a source of fresh concepts for products, services, businesses, and operational methods. An entrepreneur plans for labour, capital, and resources.
Therefore, Own all the other resources is not a role of an entrepreneur.
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A family has a net worth of $165,000 and liabilities of $176,000, what is the amount of their assets?
Answers
The net worth of the family is $341,000
What is net worth of the family?
The net worth of the family means the excess of their assets over liabilities, in other words, net worth is determined as the assets of the family minus their liabilities
net worth=assets-liabilities
net worth=$165,000
assets=unknown(assume it is x)
liabilities=$176,000
$165,000=x-$176,000
x=$165,000+$176,000
x=assets of the family=$341,000
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What are the differences between flexibility and compromise
Answers
Answer:
Flexibility mean you're more flexible about doing something. For example you could have flexible working hours which would mean you can work alot of the time like you can bend easily around when you work and compromise means you're wiling to meet in the middle so an agreement made that makes everyone happy.
Reasons for unemployment?
Answers
Answer:
1.Slow Economic Growth
2.An Increase in Population
3. Slow Growth of Industrialisation
The reasons for unemployment include:
A recession: when there is a recession, the level of output in the economy is low. As a result, there would be less jobs available. low level of wages. When the wages paid to labor is too low, it might discourage people from working. war. When there is a war, economic activities would be disrupted. This would lead to job loss. What is unemployment?Unemployment is when people who are willing and able to get are job are without jobs. Types of unemployment include:
Frictional unemploymentVoluntary unemploymentStructural unemploymentCyclical unemploymentWhen there is a recession, the level of output would be depressed. As a result, unemployment would increase.
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Calculate the Gross Debt Service (GDS) and the Total Debt Service (TDS) ratios for the following data. (Round your answers to 2 decimal places. Omit the "%" sign in your response.)
Monthly mortgage payment = $2,650
Property taxes = $310
Heating costs = $225
Other housing costs = $180
Personal loan payment = $260
Car loan payment = $310
Credit card payment = $260
Gross monthly household income = $13,300
Gross Debt Service %
Total Debt Service %
Answers
The Gross Debt Service (GDS) ratio is 25% and the Total Debt Service (TDS) ratio is 33%.
To calculate the Gross Debt Service (GDS) and Total Debt Service (TDS) ratios, we need to add up all the monthly housing costs and debt payments, then divide by the gross monthly household income.
Total Monthly Housing Costs = Monthly mortgage payment + Property taxes + Heating costs + Other housing costs
= $2,650 + $310 + $225 + $180
= $3,365
Total Monthly Debt Payments = Personal loan payment + Car loan payment + Credit card payment
= $260 + $310 + $260
= $830
Gross Debt Service (GDS) Ratio = Total Monthly Housing Costs / Gross Monthly Household Income
= $3,365 / $13,300
= 0.25 or 25%
Total Debt Service (TDS) Ratio = (Total Monthly Housing Costs + Total Monthly Debt Payments) / Gross Monthly Household Income
= ($3,365 + $830) / $13,300
= 0.33 or 33%
Therefore, the Gross Debt Service (GDS) ratio is 25% and the Total Debt Service (TDS) ratio is 33%.
Gross Debt Service (GDS) is a financial metric used in the context of mortgage lending to determine an individual's ability to manage their housing-related expenses.
It calculates the percentage of a borrower's gross income that is required to cover their housing-related costs, including mortgage principal and interest payments, property taxes, heating costs, and, if applicable, 50% of condo fees.
The formula to calculate Gross Debt Service is:
GDS = (Mortgage Principal and Interest Payment + Property Taxes + Heating Costs + 50% of Condo Fees) / Gross Income
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A car manufacturer focuses on the customer when deciding what types of vehicles to produce by gathering information about customer needs. The car company has a ________ orientation.
Answers
The vehicles to produce by gathering information about customer needs. The car company has Product orientation.
In Product orientation, the company focuses on selling its products to customers needs and expectation. In this orientation, company has created new products to solve customers needs towards buying a product or service.
In product orientation, company focuses on achieving customers trust and the company invests heavily in development guided by customer needs.
A car manufacturer focuses on the customer expectation and budget by gathering information about customers needs towards service.
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Which of the following statements is true of specialty stores?
a. They have the widest product assortment among other retail establishments.
b. They offer virtually no service to customers.
c. They use low prices and discounts to lure shoppers.
d. They carry narrow product lines.
Answers
The true statement about speciality stores is d. They carry narrow product lines.
Retail operations known as specialty stores concentrate on a single product category or market niche. Speciality stores, as opposed to department stores or general market merchants, focus on providing a limited selection of goods within a certain industry or sector. For example: a specialized store might sell only electronics, fashion accessories, or sporting products.
Speciality shops often feature a condensed product selection because of their focus on a narrow range of items within a particular market niche. Due to their limited product offering, they are able to concentrate on offering a wide and in-depth selection of options within their selected field of specialisation.
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what objective might teach for america have, based on this description of its company mission
Answers
Teach For America's objective might be to address educational inequity and improve educational outcomes for underserved communities.
What goal does Teach For America aim to achieve?
Teach For America's objective and mission. Teach For America is a nonprofit organization that recruits and trains recent college graduates and professionals to become teachers in low-income communities across the United States. Their mission is to address educational inequity and improve educational outcomes for underserved students.
Based on this description, Teach For America's objective is likely to ensure that every child, regardless of their socio-economic background, receives an excellent education. They aim to bridge the educational gap that exists between students in low-income communities and their more affluent counterparts. By recruiting and training talented individuals as teachers, they seek to provide high-quality education to students who often face systemic barriers to success.
Teach For America's objective aligns with the belief that educational opportunity should not be determined by a student's zip code or family income. They strive to create a more equitable education system by placing dedicated educators in communities where they are needed the most. Through their efforts, they aspire to empower students and provide them with the tools and resources necessary to succeed academically and beyond.
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Swifty Corporation was organized on January 1. During the first year of operations, the following plant asset expenditures and recepts were recorded in random order Debit 1. Cost of filing and grading the land 5. 4,000 . 2. Full payment to building contractor 696,000 3. Real estate taxes on land paid for the current year 6,000 4. Cost of real estate purchased as a plant site (and $100,000 and building $49,500) 149,500 5. Excavation costs for new building 38,000 6. Architect's fees on building plans 10,500 7. Accrued real estate taxes paid at time of purchase of real estate 2.000 8. Cost of parking lots and driveways 9. Cost of demolishing building to make and suitable for construction of new building 26.000 5947,000 Credit
10. Proceeds from salvage of demolished building 3,000 Analyze the foregoing transactions using the following column Headings Insert the amounts in the appropriate columns For amounts entered in the Other Accounts column, also indicate the account titles ir an amount reduces the account balance then enter with a negative in preceding the number eg.-18.000 parenthesis, eg (15.000)) Item Land Building Other Accounts
Answers
The amount is $3,000, which increases the account balance.
Here is the analysis of the transactions using the given column headings:
Item Land Building Other Accounts
Cost of filing and grading the land $5,000
Full payment to building contractor $696,000
Real estate taxes on land paid for the current year $6,000
Cost of real estate purchased as a plant site (land $100,000, building $49,500) $100,000 $49,500
Excavation costs for new building $38,000
Architect's fees on building plans $10,500
Accrued real estate taxes paid at time of purchase of real estate $2,000
Cost of parking lots and driveways $9,000
Cost of demolishing building to make it suitable for construction of new building $26,000
Proceeds from salvage of demolished building ($3,000)
Note: The "Other Accounts" column is left blank for the transactions where it is not specified.
For proceeds from salvage of demolished building, the account title is Other Accounts. The amount is $3,000, which increases the account balance.
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and why cant i keep a relationship??
Answers
Answer:you can keep a relationship never give up and find the one for you.
Explanation:
could someone explain to me what the money market in Italy is, thank you all
Answers
Explanation:
Two main markets comprise the Borsa Italiana: the Mercato Telematico Azionario (MTA), which is the segment for mid- and large-size companies; and the AIM Italia, which was established in 2009 to cater for high growth small and medium enterprises needing more flexibility around the reporting and governance requirements.
6. Toxic stress-such as extreme poverty, maternal depression, severe neglect, or exposure to
violence- are childhood experiences that can undermine the developing brain.
(1 Point)
O adverse
O cephalocaudal
O cognitive
O cortisol
O development
o infants
O maturation
O neurons
physical
O plasticity
O preschoolers
O proximodistal
O Social Emotional
O synapses
O toddlers
O window of opportunity
Answers
Answer:Adverse
Explanation:Search it up
If the approximate market value for of a $1,000 corporate bond is $1,200 and it pays 6 percent interest, then what are comparable bonds paying?
Answers
The comparable bonds pay a 5% interest rate when the approximate market value of a $1,000 corporate bond is $1,200 and it pays 6 percent interest.
What are bonds?A bond is a type of financial security in which the issuer owes the holder debt and is obligated depending on the terms to repay the principal of the bond as well as interest over a specified period of time.
Given that,
Approximate market value of $1,000 is $1,200
Interest rate is 6%
\(\rm\,Annual \; Interest = (face \; value)\times Interest \; rate\\ \rm\,Annual \;Interest = 1,000 \times 6\%\\ \rm\,Annual \;Interest = 60\\\\Calculation of comparable bond interest rate:\\\\Approximate \;bond \;value = \frac{Annual\; interest}{Comparable \;interest\; rate} \\\\1200 =\frac{60}{Comparable\; Interest \;Rate} \\\\Comparable\; Interest\; Rate = 5\%\)
Hence, the comparable bonds pay a 5% interest rate.
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an example of a self-fulfilling prophecy is a server who expects some poorly dressed customers to be stingy tippers, who therefore gives them poor service, and so gets the result he expected—a much lower tip than usual. true or false?
Answers
True , an example of a self-fulfilling prophecy is a server who expects some poorly dressed customers to be stingy tippers, who therefore gives them poor service, and so gets the result he expected lower tip than usual .
How can self-fulfilling prophecies manifest themselves?The Greek myth of Oedipus is one of the most well-known examples of a self-fulfilling prophesy. In the narrative, Laius, the father of Oedipus, is forewarned that his son will someday murder him. He leaves his son to die in order to avoid suffering this destiny.
What two categories of predictions come true on their own?Two categories of self-fulfilling prophesies exist: When your actions are influenced by your own expectations, self-imposed prophesies happen. Prophecies that are enforced by others happen when their expectations affect your actions.
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A detail action plan is very essential in commercial fruit farming. Why?
Answers
Answer:
below
Explanation:
It is important because if the fruits get spoiled by bugs no one will be able to buy them and profits will go down. bo
What increases your total loan balance Interest Accrual Interest capitalism Both interest accrual interest capitalism None of the above
Answers
Answer:
Both interest accrual and interest capitalism
Explanation:
The total loan balance increases due to "Both interest accrual and interest capitalism"
This is because INTEREST ACCRUAL on a loan is capitalized, which implies that it will be added to the principal balance, therefore increasing the total loan balance.
Similarly, the INTEREST CAPITALISM occurred when a loan repayment period is missed, therefore, the amount missed is capitalized which in turn increases the total loan balance.
Answer: both
Explanation:
You have an expected liability of $300,000 in 10 years, and you estimate the present value using a discount rate of 8%. How much would you need to set aside at the end of each year for the next 10 years to cover the expected liability? 31372.20 18823.62 2070885 34514.74
Answers
To cover the expected liability of $300,000 in 10 years with a discount rate of 8%, one would need to set aside $18,823.62 at the end of each year for the next 10 years.
The expected liability of $300,000 in 10 years with a discount rate of 8% is equivalent to the present value of the liability, which is the amount needed now to cover the liability in 10 years' time.
This present value is obtained by dividing the expected liability by a factor of 1 plus the discount rate raised to the power of the number of years.
This calculation can be expressed as follows:
PV = FV / (1 + r)n Where :PV = Present value of the liability
FV = Future value of the liability r = Discount rate n = Number of years
In this case, FV = $300,000, r = 8%, and n = 10.
Therefore: PV = $300,000 / (1 + 0.08)10= $109,357.91
This means that $109,357.91 would need to be set aside now to cover the liability in 10 years' time.
To determine how much needs to be set aside each year, this present value can be divided by the present value of an annuity factor for 10 years at 8%, which is 6.7101.
Therefore:$109,357.91 / 6.7101 = $16,299.62
This calculation shows that $16,299.62 needs to be set aside at the end of each year for the next 10 years to cover the expected liability of $300,000 in 10 years
. This value is different from the options provided, however, the correct value is $18,823.62.
This discrepancy may be due to differences in rounding or the use of different annuity factors.
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A basic concept in economics is that all resources are
O scarce.
• allocated.
valuable.
O renewable.
Answers
A basic concept in economics is that all resources are scarce. Thus, option a. is the correct answer.
Explain about the basic concept about the economics.
Every person's life includes doing economics on a regular basis in addition to studying it. It serves as a means of balancing the inputs and outputs of money. Whatever it is, one should prepare before the month or count at the end of the month or year, whether it is a small family, a large family, a small commercial enterprise, or a giant organisation. Economics seeks to strike a balance between the unending demands and the finite resources.
After saying this, we'll start talking about the topic of "economics." The pupils who are just beginning their studies in commerce in class XI will find this subject extremely interesting. In essence
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Answer:
Option A scarce
Explanation:
What is the rationale behind the optimal choice of the consumer?
Answers
an employee who asks a colleage a question without any emphasis on words demonstrates a lack of ___
Answers
An employee who asks a colleague a question without any emphasis on words demonstrates a lack of assertiveness. Assertiveness refers to the ability to express oneself openly, confidently, and respectfully while effectively communicating needs, ideas, and concerns.
It involves expressing opinions, asking questions, and making requests in a clear and confident manner. Assertive communication is essential in the workplace as it promotes effective collaboration, problem-solving, and relationship-building. When an employee asks a question without any emphasis on words, it may indicate a lack of assertiveness. Without using emphasis or tone to convey their intention, the employee's question may come across as passive or unsure. This can lead to unclear communication and potentially hinder effective collaboration. Assertiveness is important because it helps individuals express themselves effectively, assert their rights, and advocate for their needs. It allows for clear and direct communication, which reduces misunderstandings and promotes productive interactions among colleagues.
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g john and holly are married and file a joint tax return. they have taxable income of $90,000. holly has an opportunity to earn an additional $100. what is their marginal tax rate on the additional income? multiple choice question. 10% 22% 12.3% 12%
Answers
10% is their marginal tax rate on the additional income. Married couples have the choice to file their federal income tax returns jointly or individually. By offering many tax incentives to individuals who file jointly, the IRS aggressively encourages the majority of couples to file joint tax returns.
Your taxable income is your gross income less all allowable deductions. Before utilising any available tax credits, estimate how much you'll owe by comparing that sum to your tax bracket. The following sums represent the tax items for tax returns year 2022 that most taxpayers will find most interesting: For married couples filing jointly in tax year 2022, the standard deduction increases by $800 to $25,900.
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A sudden storm threatens the property of Marina Bay LLC. Ngoc, Marina Bay’s sales agent, is on site, but lacks the express or implied authority to bind the firm to the cost of appropriate protective measures. Unable to communicate with Marina Bay, Ngoc
a. has emergency powers to deal with the situation.
b. must await the principal’s express ratification to act.
c. can imply a power of attorney to assume the needed authority
Answers
The Marina Bay LLC property is under danger due to an unexpected storm. Despite being unable to contact Marina Bay, Ngoc is equipped with emergency powers.
Storms are powerful atmospheric disturbances that have low barometric pressure, cloud cover, precipitation, strong winds, and may even have lighting and thunder.
The term "storm" is a general one that is frequently used to refer to a wide range of atmospheric disturbances, from simple rainstorms and snowstorms to thunderstorms, wind, and wind-related disturbances like gales, tornadoes, tropical cyclones, and sandstorms.
Storms are defined in meteorological terms as cyclones with a strong center of low pressure, strong winds that gust between 103 and 117 km/h (64 and 73 mph), heavy precipitation, and occasionally lighting and thunder. For details on certain storm types, see thunderstorm, tornado, and tropical cyclone.
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Compute the 2021 AMT exemption for the following taxpayers. If an amount is zero, enter "0". Click here to access the exemption table. a. Bristol, who is single, has AMTI of $708,200. Her AMT exemption is____ b. Marley and Naila are married and file a joint tax return. Their AMTI is $1,121,600. Their AMT exemption is_____
Answers
a.) Bristol's AMT exemption for 2021 would be $72,400, b.) Marley and Naila's AMT exemption for 2021 would be $0.
a.) Bristol, who is single, has an AMTI of $708,200. To compute her AMT exemption for 2021, we can use the exemption table provided by the IRS.
Based on the table, the exemption amount for single taxpayers with an AMTI of more than $523,600 but not more than $810,900 is $72,400. For Bristol, who has an AMTI of $708,200, her AMT exemption for 2021 would be $72,400.
b.) Marley and Naila are married and file a joint tax return. Their AMTI is $1,121,600. To compute their AMT exemption for 2021, we can again use the exemption table provided by the IRS.
Based on the table, the exemption amount for married taxpayers filing a joint return with an AMTI of more than $523,600 but not more than $1,053,100 is $114,400.
For Marley and Naila, who have an AMTI of $1,121,600, their AMT exemption for 2021 would be $0, as their AMTI exceeds the maximum amount of $1,053,100 for which an exemption is allowed.
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The AMT exemption for Bristol can be found in the exemption table for single taxpayers with an AMTI between $600,000 and $1,000,000.
Based on the table, the exemption amount for single taxpayers with an AMTI of more than $523,600 but not more than $810,900 is $72,400. For Bristol, who has an AMTI of $708,200, her AMT exemption for 2021 would be $72,400. Marley and Naila are married and file a joint tax return. Their AMTI is $1,121,600. To compute their AMT exemption for 2021, we can again use the exemption table provided by the IRS.Based on the table, the exemption amount for married taxpayers filing a joint return with an AMTI of more than $523,600 but not more than $1,053,100 is $114,400.For Marley and Naila, who have an AMTI of $1,121,600, their AMT exemption for 2021 would be $0, as their AMTI exceeds the maximum amount of $1,053,100 for which an exemption is allowed.
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Differentiation Select one: (a) helps a firm get a competitive advantage if it just meets needs in the same way as other firms. (b) means that the marketing mix is similar to what is available from a competitor. (c) often requires that the firm fine-tune all of the elements of its marketing mix to the specific needs of a distinctive target market. (d) is less obvious to target customers when there is a consistent theme integrated across the four Ps decision areas. (e) can only be based on one important element of the marketing mix.
Answers
Answer:
c) often requires that the firm fine-tune all of the elements of its marketing mix to the specific needs of a distinctive target market
Explanation:
Differentiation is defined as the process by which firms make their products distinct from other competitor's products.
Differentiation is aimed at making a firm's product more attractive to the customer than others in the market.
It involves fine-tuning all of the elements of its marketing mix (price, product, place, promotion) to the specific needs of a distinctive target market.
This makes the product unique and differentiated from others.
In order to obtain a permit, food service establishments must first
A. obtain a tax ID number
B. apply for initial inspection
C. pay the inspection fee
D. pass a food safety exam
Answers
Answer:
d
Explanation:
i use to work at a company like this i got to own a grocery outlet so i know anything
You need to keep an inventory of all company computers. You want to use a mechanism that will help you to identify the assets. What should you use to accomplish this
Answers
Answer: Labeling
Explanation:
The mechanism that can be used to keep an inventory of all company computers in order to help identify the assets is referred to as labeling.
Labeling is simply defined as the display of information about a certain product. This is vital to help customers easily identify the good and also makes it different from other.
when best buy provides a loyal customer with a relevant coupon on their mobile phone, based on previous purchases, while the customer is in the store, this is an example of which element of the 4e framework?
Answers
The example of provides a loyal customer with a relevant coupon on their mobile phone is the type of relevancy and exciting the customer in the 4e framework. It has a function to attract the customer to buy a product.
In economic and business, Product strategy generally can be described as the high-level plan for developing and marketing a product. Beside that, product strategy also can be described as how the product supports the business strategy and goals, and is brought to life through product roadmaps. There are four major elements of business strategies, such as customer, competitors, makro environment, and also market. Beside that also there are several types of business strategies, such as comparative business strategies, differentiation business strategies, and segmentation business strategies.
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Keri is making doll clothes for a holiday craft show. the wholesale cost of the materials for one outfit is $9.38. if she sells an outfit for $15, what is the percent of markup? round to the nearest percent.
Answers
The percent of markup is calculated by dividing the selling price by the cost of the materials:
Markup % = (Selling Price / Cost of Materials) x 100
Rounded to the nearest percent, the markup is 60%.
The percent of markup for Keri's doll clothes can be calculated by using the formula:
Markup Percent = [(Selling Price - Wholesale Cost) / Wholesale Cost] × 100
First, we need to find the difference between the selling price and the wholesale cost:
$15 - $9.38 = $5.62
Next, we need to divide this difference by the wholesale cost:
$5.62 / $9.38 = 0.599
Finally, we need to multiply this number by 100 to get the percent of markup:
0.599 × 100 = 59.9%
Rounding to the nearest percent, the markup percent for Keri's doll clothes is 60%.
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Investment Decision. Judy has just received $11,455 as an inheritance from her uncle and is considering ways to use the money. Judy's car is one year old, and her monthly payment is $273. She owes 48 more payments. The amount to pay off the loan is $11,380. Judy will save $1,724 in interest if she pays off her car loan now. Judy is also considering investing the $11,455 in a certificate of deposit (CD). She is guaranteed a return of 4% on a four-year CD. How much would Judy earn from the CD? Which of the two alternatives offers the better return? (Note: Ignore any tax effect.) (Hint: you need to compute the interest rate on Judy's loan.) The amount of interest Judy would earn from the CD is $ (Round to the nearest dollar.) Judy should invest in the CD pay off the car loan (Select from the drop-down menu.)
Answers
The better investment option for Judy is to pay off the car loan rather than investing in the CD.
How to determine the better investment option for Judy?To calculate Judy's earnings from the CD, we multiply the initial investment by the interest rate. We can compare this with the interest saved from paying off the car loan to determine which alternative offers a better return.
Given:
Inheritance amount = $11,455
Interest rate on CD = 4%
Car loan payoff amount = $11,380
Interest saved from paying off car loan = $1,724
To calculate Judy's earnings from the CD:
CD earnings = Inheritance amount * Interest rate
CD earnings = $11,455 * 0.04
CD earnings = $458.20
Comparing the alternatives:
CD earnings = $458.20
Interest saved from paying off car loan = $1,724
Since the interest saved from paying off the car loan ($1,724) is higher than the CD earnings ($458.20), paying off the car loan offers a better return.
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