Mortgage is a type of loan that individuals take to purchase homes. When they are not able to buy a house with cash payments, they take mortgage loans to finance the purchase. A 30-year fixed mortgage means that the borrower has to pay a fixed interest rate for the next 30 years.
In contrast, a refinance loan is the process of getting a new mortgage loan to pay off an existing one. It's generally done to get a better interest rate or change the loan's terms.The given mortgage is a 30-year fixed loan with a principal amount of $150,000 and an 8% interest rate.
If the borrower is considering refinancing, they should compare the existing loan's payments with the new loan's payment and see which one is lower. Here, the new loan is a 30-year fixed loan at a 3.5% interest rate.The bank charges a 1.5% closing fee on the total debt, i.e., $150,000.1.5% of $150,000 = $2,250So, the borrower will have to pay $2,250 in closing fees to the bank.
Now, we need to calculate how much will the borrower save in interest every year if they opt for refinancing. It can be calculated using the following formula:Interest Savings = (Existing Interest Rate - New Interest Rate) * Principal AmountInterest Savings = (8% - 3.5%) * $150,000Interest Savings = 4.5% * $150,000Interest Savings = $6,750 per yearThis means that the borrower will save $6,750 per year on interest payments by refinancing the loan.
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John Michael purchased a surfboard from Surf’s Up beach supply store. The label on the surfboard stated: "Surf’s Up makes no warranties about the quality of this product." The first time John Michael took the surfboard out on the water, the board broke in half when it hit a small wave. John Michael demanded his money back, claiming that the store had breached the warranty of merchantability by selling him a surfboard that could not be used for normal surfing. The store refused to refund John Michael’s money, stating that the label clearly stated there were no warranties on the product. If John Michael sues the store, the court will likely find:
a. that the disclaimer on the surfboard was an effective disclaimer of the warranty of merchantability.
b. that the disclaimer on the surfboard was not an effective disclaimer of the warranty of fitness for a particular purpose.
c. that the disclaimer on the surfboard was an effective disclaimer of the warranty of fitness for a particular purpose.
d. that the disclaimer on the surfboard was not an effective disclaimer of the warranty of merchantability.
The court will likely find that the disclaimer on the surfboard was not an effective disclaimer of the warranty of merchantability.
The court will likely find that the disclaimer on the surfboard was not an effective disclaimer of the warranty of merchantability.A warranty of merchantability is a promise made by a seller that the goods will reasonably meet the expectations of buyers. It means that the goods are fit for their ordinary purpose. Since John Michael claimed that the store had breached the warranty of merchantability by selling him a surfboard that could not be used for normal surfing, the store will have to provide a replacement or refund the money. Even though the label on the surfboard stated that "Surf’s Up makes no warranties about the quality of this product," such a disclaimer does not protect the seller from liability for all injuries or damages that occur from a product's use.The court will likely find that the disclaimer on the surfboard was not an effective disclaimer of the warranty of merchantability.
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The United States enjoys a free market economy in which _____.
(A)most economic decisions are made by the central government
(B)the states have all of the authority to make economic decisions regarding businesses that do not operate across state lines
(C)most economic decisions are allowed to occur naturally as a result of market changes made by government intervention
(D)none of the above
(E)all of the above
HELP ME PLEASE
DIRECTIONS: Tell whether each is climate or weather.
1. It has not rained this month.
2. Typically, the rainfall in June is less than 1 inch.
3. The sky looks cloudy.
4. The temperature around glaciers over a period of years.
5. The yearly rainfall in the rainforest is between 50-260 inches.
6. This week's high temperature is 70°.
7. Tomorrow it will be cold and rainy.
8. It usually snows every year in January.
9. Texas is known for hot and humid weather.
10. This weekend is supposed to be sunny.
TYSM
Answer:
1. climate
2. weather
3. weather
4. climate
5.climate
6.weather
7.weather
8. climate
9. climate
10. weather
Explanation:
hope this helps
Answer:
1) weather
2) weather
3) weather
4) climate
5) climate
6) weather (i think)
7) weather
8) climate ...
9) climate
Explanation:
suppose the lender expects a real interest rate of 6% and the inflation rate is expected to be 3%. in this case, the nominal interest rate is equal to:
The nominal interest rate can be calculated by adding the expected real interest rate to the expected inflation rate.
In this case, the lender expects a real interest rate of 6% and the inflation rate is expected to be 3%. To find the nominal interest rate, we simply add these two rates together: Nominal interest rate = Real interest rate + Inflation rate= 6% + 3%= 9%. Therefore, the nominal interest rate in this case is 9%.The nominal interest rate takes into account both the real interest rate and the expected inflation rate.
By considering both the real interest rate and the inflation rate, lenders and borrowers can better understand the true cost or return on their investment or loan.
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Before ordering used parts for a repair, a technician
should get
approval from the ____.
the centerpiece of the marketing environment analysis framework is
Consumers are the centerpiece of the marketing environment analysis framework. Option E.
The marketing environment analysis framework is a tool utilized in marketing to comprehend the numerous elements that influence a company's capacity to sell its goods or services. Both internal and external aspects that affect a company's marketing choices and tactics are included in the marketing environment.
The consumer serves as the focal point of the framework for marketing environment analysis. This is so because consumers are the ones who actually use the goods or services that a company provides, and they are the ones who ultimately decide whether or not a company's marketing efforts are successful.
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The complete question is:
The centerpiece of the marketing environment analysis framework is _____.
(a) green marketing
(b) corporate partners
(c) culture
(d) competitive intelligence
(e) consumers.
What happens to the equilibrium price and equilibrium quantity when demand and supply decrease simultaneously, but the relative size of the shifts are not known?.
Then the equilibrium price will be lower than it was before the curves shifted. A growth in demand, all other matters unchanged, will purpose the equilibrium charge to upward thrust; amount provided will growth.
A decrease in call for will motive the equilibrium fee to fall; quantity supplied will decrease.
Demand is the amount of an excellent that consumers are willing and capable of purchase at diverse charges throughout a given time. the connection between charge and quantity call for is also called the call for curve. call for is the amount of customers who are inclined and able to buy products at diverse prices at some point of a given period of time. call for for any commodity implies the consumers' desire to collect the good, the willingness and capability to pay for it.as an example, if a customer is hungry and buys a slice of pizza, the first slice will have the finest advantage or utility. With every extra slice, the client will become greater satisfied, and software declines. In principle, the primary slice might fetch a better rate from the client.
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Taxes represent __________ of the business. Multiple Choice an equity liability a cash inflow a cash outflow an accounts receivable liability
The taxes that are being paid by a business firm represents: C. a cash outflow.
Taxation can be defined as the involuntary and compulsory fees that are usually levied on individuals or business firms (entities) by the government, so as to generate revenues which are used in funding public institutions and activities.
Basically, these taxes that are being paid by individuals or business firms (entities) is considered as a cash outflow because it represents money that are flowing out of their accounts.
In conclusion, an amount of money that is flowing out of an account such as taxes is referred to as a cash outflow.
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what is the primary business advantage of using email? group of answer choices increasing the speed of order entry. increasing the number of computers required in an office. providing the ability to inform and communicate with many people simultaneously, immediately, and with ease. providing the ability to have friends all over the globe.
Providing the ability to inform and communicate with many people simultaneously, immediately, and with ease is the primary business advantage of using email.
What is the primary benefit of emailing?
One of the key benefits of email is that you can send electronic things, like text documents, pictures, and data sheets, quickly and conveniently to several people at once by attaching the file to an email. Ascertain whether there is a size restriction on the email attachments you can send by contacting your internet service provider.
One of the key benefits of email is that you can send electronic things, like text documents, pictures, and data sheets, quickly and conveniently to several people at once by attaching the file to an email. Ascertain whether there is a size restriction on the email attachments you can send by contacting your internet service provider.
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Reduction in trade barriers is associated with the emergence of ________. Group of answer choices regional economic integration blocs widespread violation of intellectual property rights law violation of GATT provisions fragmentary monetary and fiscal policies across the borders
1. Lisa consumes only pizzas (P) and burritos (B). Her utility function is U = P0. 5 B0. 5. The price of per pizza is R10 and the price per burrito is R5. In equilibrium, Lisa consumes four pizzas. Using Lisa's utility function, calculate how many burritos she consumes
Using her utility function, we can say that Lisa's optimal consumption of burritos will be determined by her budget constraint and her preferences for pizzas and burritos R40 + R5X = Total income
To calculate how many burritos Lisa consumes in equilibrium using her utility function U =\(P^0.5\) * \(B^0.5\), we need to find the optimal consumption level that maximizes her utility given the prices of pizzas and burritos.
Let's assume Lisa consumes X burritos. We know she consumes four pizzas (P = 4).
Using Lisa's utility function:
U =\(P^0.5\) *\(B^0.5\)
U = \(4^0.5\) * X\(^0.5\)
U =\(2X^0.5\)
Now, let's consider Lisa's budget constraint. The total amount she spends on pizzas and burritos should not exceed her total income. Given that the price of a pizza is R10 and the price of a burrito is R5, Lisa's income can be divided between pizzas and burritos as follows:
Total spending on pizzas = Price per pizza * Quantity of pizzas consumed
Total spending on pizzas = R10 * 4 = R40
Total spending on burritos = Price per burrito * Quantity of burritos consumed
Total spending on burritos = R5 * X = R5X
According to Lisa's budget constraint:
Total spending on pizzas + Total spending on burritos = Total income
R40 + R5X = Total income
Since we don't have information about Lisa's total income, we cannot solve for the exact value of X (the quantity of burritos consumed) in this scenario. However, using her utility function, we can say that Lisa's optimal consumption of burritos will be determined by her budget constraint and her preferences for pizzas and burritos as reflected in her utility function.
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us $ and the euro (€): us goes into deep recession, europe does not
While a deep recession in the united states compared to europe can be a contributing factor, it is not the sole determinant of the exchange rate between the us dollar and the euro.
in the scenario where the united states goes into a deep recession while europe does not, it can have implications for the value and exchange rate between the us dollar (usd) and the euro (€). here are a few possible outcomes:
1. weakening of the us dollar: a deep recession in the united states could lead to reduced economic activity, lower investor confidence, and potential monetary easing by the central bank. these factors may weaken the us dollar relative to other currencies, including the euro. investors might perceive the euro as a more stable currency compared to the us dollar in this situation, leading to a relative strengthening of the euro against the us dollar.
2. strengthening of the euro: if europe remains relatively stable and resilient to the economic downturn in the united states, it could boost confidence in the euro. investors seeking more favorable investment opportunities may shift their focus to the euro, potentially resulting in an appreciation of the currency against the us dollar.
3. impact on trade and exports: a deep recession in the united states could reduce domestic consumption and demand for imports, including goods and services from europe. this could negatively impact european exports to the united states and potentially put downward pressure on the euro as european businesses may face challenges in selling their products in the us market.
4. monetary policy response: central banks, including the federal reserve in the united states and the european central bank (ecb) in europe, may implement different monetary policy measures in response to the respective economic situations. the actions taken by these central banks can influence interest rates, money supply, and investor sentiment, which in turn can affect the value of their respective currencies.
it is important to note that currency exchange rates are influenced by a multitude of factors, including economic indicators, investor sentiment, political events, and market dynamics.
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Jackson runs a chain of small retail stores called Wandmin that sells bottled water, fresh juices, desserts, and some snacks. All outlets of Wandmin are either in the middle of or at the end of walking trails in Jackson's hilly hometown, where several tourists go hiking. In the context of marketing, which of following utilities does Wandmin most likely provide?
A. Form utility
B. Time utility
C. Place utility
D. Ownership utility
Answer:
C. Place utility
Explanation:
In the context of marketing, Place utility utilities Wandmin most likely provide. Thus the correct option is C.
What is marketing?Marketing refers to the process of identifying and satisfying customer needs and wants through the creation, promotion, distribution, and pricing of products, services, and ideas.
In the given case, it is explained that Bottled water, fresh juices, desserts, and a few snacks are sold in the small convenience stores run by Jackson under the name Wandmin.
Location utility is the value that a company provides by making a good or service accessible to clients in a convenient place. Wandmin is making it convenient for customers by locating its retail locations along hiking routes.
Therefore, option C Place utility is appropriate.
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Engi Sola Corp. Manufactures solar engines for tractor trailers. Given the fuel savings available, new orders for 125 units have been made by customers requesting credit. The variable cost is $9,700 per unit, and the credit price is $11,100 each. Credit is extended for one period. The required return is 1.9% per period. If Engi Sola extends credit, it expects that 30% of the customers will be repeat customers and place the same order every period forever, and the remaining customers will be one-time orders.
Answer:
The net present value (NPV) of the decision to grant credit is $2,938,157.89.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
Engi Sola Corp. Manufactures solar engines for tractor trailers. Given the fuel savings available, new orders for 125 units have been made by customers requesting credit. The variable cost is $9,700 per unit, and the credit price is $11,100 each. Credit is extended for one period. The required return is 1.9% per period. If Engi Sola extends credit, it expects that 30% of the customers will be repeat customers and place the same order every period forever, and the remaining customers will be one-time orders.
Calculate the NPV of the decision to grant credit.
The explanation of the answer is now given as follows:
Number of new orders = 125 units
Percentage of repeat order = 30%
Number of order that will be repeated forever = Number of new orders * Percentage of repeat order = 125 * 30% = 37.50 units
Credit price per unit = $11,100
Variable cost per unit = $9,700
Contribution margin per unit = Credit price per unit - Variable cost per unit = $11,100 - $9,700 = $1,400
Total contribution for all new order = Number of new orders * Contribution margin per unit = 125 * $1,400 = $175,000
Total contribution margin for order that will be repeated forever = Contribution margin per unit * Number of order that will be repeated forever = $1,400 * 37.50 = $52,500
Net present value (NPV) of total contribution margin for order that will be repeated forever = Total contribution margin for repeated order forever / Required return = $52,500 / 1.9% = 2,763,157.89
Net present value (NPV) of the decision to grant credit = Total contribution for all new order + NPV of total contribution margin for order that will be repeated forever = $175,000 + 2,763,157.89 = $2,938,157.89
Therefore, the net present value (NPV) of the decision to grant credit is $2,938,157.89.
lincoln corporation used the following data to evaluate their current operating system. the company sells items for $18 each and used a budgeted selling price of $18 per unit. actual budgeted units sold 43,000 units 33,000 units variable costs $166,000 $150,000 fixed costs $41,000 $58,000 what is the static-budget variance of operating income?
The static-budget variance of operating income for Lincoln Corporation is $23,000. This can be calculated by subtracting the budgeted operating income from the actual operating income.
The budgeted operating income can be calculated by subtracting the budgeted variable cost from the budgeted sales revenue. For Lincoln Corporation, the budgeted sales revenue is $774,000 (43,000 units x $18) and the budgeted variable cost is $306,000 (43,000 units x $7). This leaves a budgeted operating income of $468,000 ($774,000 - $306,000).
The actual operating income can be calculated by subtracting the actual variable cost from the actual sales revenue. For Lincoln Corporation, the actual sales revenue is $594,000 (33,000 units x $18) and the actual variable cost is $266,000 (33,000 units x $8). This leaves an actual operating income of $491,000 ($594,000 - $266,000).
Therefore, the static-budget variance of operating income for Lincoln Corporation is $23,000 ($491,000 - $468,000). This variance can be attributed to the fact that Lincoln Corporation sold 10,000 fewer units than what was budgeted for, as well as a higher-than-expected variable cost of $8 per unit instead of the budgeted $7.
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Which best describes a tsunami?
large powerful wave caused by an earthquake
when the waves hit the shore at an angle and transport sand
alternating rise and fall of the ocean
an irregular climate event caused by ocean currents in the Pacific Ocean
Answer:
A. a large powerful wave caused by an earthquake
Explanation:
A tsunami is a series of extremely long waves caused by a large and sudden displacement of the ocean, usually the result of an earthquake below or near the ocean floor. This force creates waves that radiate outward in all directions away from their source, sometimes crossing entire ocean basins.
A tsunami is best described as a large powerful wave caused by an earthquake.
What is a tsunami?Tsunamis are usually caused by earthquakes or volcanic eruptions. A tsunami is when there is a powerful wave that orgingates from a water body It causes displacement of a large body of water.
Effects of a tsunami includes:
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A data ________ is a large-scale electronic repository of data that contains and organizes all of an organization's data in one place.
A data warehouse is a large-scale electronic repository of data that contains and organizes all of an organization's data in one place.
A data warehouse is a central repository of information that can be analyzed to make decisions more informed .
Data flows into the data warehouse from transactional systems or relational databases, and other sources.
Business analysts or the data engineers or data scientists, and decision makers generally access the data through business intelligence (BI) tools or SQL clients, and other analytics applications.
Data warehouses power different reports as well as dashboards, and analytics tools by storing data efficiently to minimize the input and output of data and deliver query results quickly to hundreds and thousands of users concurrently.
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Which savings option divides your investment among multiple companies
Answer:
Mutual funds
Explanation:
I just did it in school a p e x and I searched.
create and insert a demand forecast model (using actual or fictional data). to demonstrate effective analytical skills, explain how you would communicate the demand forecast to senior leadership.
The goal of the presentation would be to provide senior leadership with a clear understanding of the demand forecast and its implications for the company.
To create a demand forecast model, we would start by gathering historical sales data for the product or service in question. We should then use statistical methods, such as time series analysis or exponential smoothing, to generate a demand forecast for the next quarter or year. To communicate the demand forecast to senior leadership, we should create a clear and concise presentation that includes visualizations of the data, such as line graphs and bar charts, as well as a written summary of key findings. We should also include a discussion of any potential risks or uncertainties in the forecast, such as changes in market conditions or competitors. We would also highlight the potential impact of the demand forecast on the company's operations, such as the need for additional resources or changes to production schedules. I would then make recommendations for how the company can take advantage of the forecast to improve its performance.
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Organisations which produce products or provide services would typically assign costs to their cost objects of interest. Which of the following are possible reasons behind why they do this?
1. To find out how many new customers they should seek
2. To help them choose which allocation base to use
3. To help them measure the profitability of the cost object
Group of answer choices
Statement 1 and 3 only
Statement 2 only
Statement 3 only
Statement 1 only
Statement 1,2 and 3
The correct answer is Statement 1,2 and 3. The answer to your question is that organizations assign costs to their cost objects for several reasons. One possible reason is to help them measure the profitability of the cost object.
This allows them to evaluate whether the cost object is generating enough revenue to cover its costs and contribute to overall profitability. Another possible reason is to help them choose which allocation base to use. By assigning costs to different cost objects, organizations can determine which allocation base is most appropriate for allocating indirect costs. This helps ensure that costs are allocated in a fair and accurate manner. Lastly, assigning costs to cost objects can also help organizations identify how many new customers they should seek. By analyzing the costs associated with each customer or customer segment, organizations can determine which customers are most profitable and focus their efforts on attracting similar customers in the future.
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Explain why the credit industry wants you to believe that you need a credit score
Answer:
Because the credit industry gains a profit from it's users. Credit is a tool, and if used wisely can be beneficial for many people who don't have enough cash to pay for things. Having "good" credit score means that it's easier for you to receive a loan.
Let understand that Credit score refers the score which tells about a consumer's creditworthiness.
In practice, the higher the credit score of an individual, the higher the rate of repayment of credit gotten.
The Credit scoring is used the lenders to help them decide whether to borrow, extend or deny credit.
Therefore, the credit industry wants one to believe you need credit score because its helps them to ascertain your creditworthiness.
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last year the baldwin company increased their equity. in 2021 their equity was $49,468. last year (2022) it increased to $51,238. what are causes of change in equity? check all that apply.
The causes of change in equity can vary, but in the case of the Baldwin Company, there are several possible reasons for the increase in equity from $49,468 in 2021 to $51,238 in 2022.
Some causes of change in equity include: 1. Net Income: If the Baldwin Company generated a higher net income in 2022 compared to 2021, it would contribute to the increase in equity. Net income is calculated by subtracting expenses from revenues, and it represents the profit earned by a company. 2. Additional Investments: If the Baldwin Company received additional investments from shareholders or owners in 2022, it would increase their equity.
Investments from shareholders increase the company's capital and subsequently its equity. 3. Retained Earnings: Retained earnings refer to the portion of the company's net income that is kept within the business instead of being distributed to shareholders as dividends. If the Baldwin Company retained more of its earnings in 2022 compared to 2021, it would contribute to the increase in equity. 4. Decrease in Dividends:
If the Baldwin Company paid out fewer dividends to shareholders in 2022 compared to 2021, it would lead to an increase in equity. Dividends are a distribution of profits to shareholders, and a decrease in dividends would retain more earnings within the company.
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using a menu for one meal to encourage hotel guests to return for meals at other convenient times is an example of
Using a menu for one meal to encourage hotel guests to return for meals at other convenient times is an example of cross-selling.
What is cross-selling?⇒ Cross-selling is a sales strategy that involves offering an existing customer a second product or service. Businesses describe cross-selling in a variety of ways in practice. The size of the company, the industrial sector it works in, and the financial incentives of individuals who must define the term are all factors that may have an impact on the definition.
Cross-selling can have two goals: either to boost revenue from the client or to maintain goodwill with the customer or clients. In order to cross-sell or co-sell a client, two teams within the same organization or two organizations working together are two possible approaches.
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Deimos Corporation has 500,000 shares of $2 par-value common stock issued and outstanding when the market price per share is $22 per share. By what amount will total equity increase when the company declares a 2:1 stock split
Answer:
Total equity will remain the same
Explanation:
A stock split is simply increasing the number of shares and at the same time reducing the par value per share.
A stock split of 2:1 means that the number of shares would double while par value reduces by half.Specifically,the number of shares would increase from 500,000 to 1,000,000 while the par value reduces from $2 per share 1/2*$2 i.e $1 each.
All in all,the there is no increase in total equity overall.
Suppose the civilian noninstitutionalized working-age population is 35.9 million in in a hypothetical economy. Of these, 4.6 million are working part-time and 15.71 million are working full-time. Assume the Bureau of Labor Statistics (BLS) definitions are used for calculating unemployment data. Among those not working, the most recent job-search activity for 3.20 million happened less than two weeks ago, while 1.72 million most recently looked for work between two and four weeks ago. An additional 0.86 million most recently looked for work five weeks ago, and the remaining 9.81 million who do not have jobs have not looked for work in the past six weeks. Round your answers to two decimal places. What is the size of the total labor force
Answer:
the size of the total labor force is 26.09 million
Explanation:
The computation of the size of the total labor force is shown below:
The Size of the Total labor force is
= Employed + unemployed
= 4.6 million + 15.71 million + 3.20 million + 1.72 million + 0.86 million
= 26.09 million
Hence, the size of the total labor force is 26.09 million
We simply added the employed and unemployed one
Suppose that you deposit $2,000 in your bank and the required reserve ratio is 10 percent. The maximum loan your bank can made as a direct result of your deposit is Group of answer choices
Answer:
the maximum loan could bank made as the direct result of the deposit is $1,800
Explanation:
The computation of the maximum loan could bank made as the direct result of the deposit is given below:
= Deposit amount × (1 - required reserve ratio)
= $2,000 × (1 - 0.10)
= $2,000 × 0.90
= $1,800
hence, the maximum loan could bank made as the direct result of the deposit is $1,800
a product is said to have achieved brand preference when:
A product is said to have achieved brand preference when Consumers have a consistent and conscious preference for that brand over other similar brands.
Brand preference refers to the extent to which consumers prefer one particular brand over others in a given product category. When consumers consistently and consciously choose a specific brand over other similar brands, it indicates that the brand has achieved brand preference.
Brand preference can be influenced by various factors, such as brand reputation, quality, pricing, advertising, and customer service. Companies aim to build brand preference through effective branding strategies that create a positive image of their brand in the minds of consumers.
Achieving brand preference is important for building brand loyalty and increasing customer retention, which can ultimately lead to higher sales and profitability for the company.
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Question 13 of 20
Which part of the product life cycle typically includes consumer tests and a
high advertising budget?
A. Introduction stage
B. Decline stage
C. Growth stage
D. Maturity stage
Answer:
introduction stage
Explanation:
it's making me have 20 characters so it's just introduction stage to introduce a new product
A payment system that pays before the service is provided is known as a prospective payment system.
Group of answer choices
True
False
A payment system that pays before the service is provided is not called a prospective payment system, but rather a prepayment system. The term "prospective payment system" specifically refers to a payment system used in healthcare settings.
A payment system that pays before the service is provided is known as a prospective payment system.
False.
A prospective payment system is a payment system in healthcare where predetermined rates are set for specific services before the service is provided. It is typically used in healthcare settings such as hospitals or healthcare facilities.
However, in a general sense, a payment system that pays before the service is provided is not referred to as a prospective payment system. It is more commonly known as a prepayment system.
A prepayment system requires payment upfront, before any goods or services are delivered. This is often seen in online transactions, where customers are required to pay for products or services before they are received. Examples include buying items online, purchasing event tickets in advance, or paying for subscriptions upfront.
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In which type of bank do investors
pool their money into a collective
business in order to help each other?
A. Commercial banks
B. Credit union
C. Savings and loans bank
D. Brokerage firms
The kind of bank do investors pool their money into a collective business in order to help each other is a credit union. Thus, option B is correct.
What is a Credit Union?A credit union, which is comparable to a commercial bank, is a member-owned nonprofit financial cooperative. Credit unions often provide their members services similar to retail banks, such as deposit accounts, credit, and other financial services.
Credit unions, like banks, accept deposits, make loans, and offer a variety of other financial services. Credit unions, on the other hand, being member-owned and cooperative entities, offer a secure place to save and borrow at competitive rates.
A credit union is a customer/member-owned financial cooperative that is democratically governed by its members and exists to maximize the economic advantage of its customers by providing banking services at competitive and fair prices. Hence, option B is correct.
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