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2 years ago

What are two key takeaways from using auto-drafting to pay your bills?.

Business

1 answer:

Maslowich2 years ago

4 0

The two key takeaways from using auto-drafting to pay your bills are:

Payment is faster.
There is less hassle making payments for multiple bills.

<h3>What is Auto Drafting?</h3>

This refers to setting up of periodic payments for a particular set of bills which deducts an amount from a checking account.

Some of the advantages of making use of auto-drafting to pay your bills includes:

Easier automatic payment.
Ability to avoid late payments.
No need to set reminders, etc

Read more about auto drafting here:
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Dog Bone Bakery, which bakes dog treats, makes a special biscuit for dogs. Each biscuit uses 0.75 cup of pure semolina flour. Th

Marizza181 [45]

Answer:

Results are below.

Explanation:

<u>To calculate the direct material rate and quantity variance, we need to use the following formulas:</u>

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (0.55 - 0.54)*4,000

Direct material price variance= $40 favorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (0.75*4,800 - 3,588)*0.55

Direct material quantity variance= $6.6 favorable

<u>Finally, the total variance:</u>

Total direct material variance= 40 + 6.6= $46.6 favorable

3 0

3 years ago

The first year of operations for a company was Year 1. The net income for Year 1 was $20,200 and dividends of $12,100 were paid.

Mekhanik [1.2K]

Answer:

$37,200

Explanation:

The amount of retained earnings is calculated by using the formula below;

Amount of retained earnings = Net income - Dividends paid

In year 1, the amount of retained earnings

= $20,200 - $12,100

= $8,100

In year 2, the amount of retained earnings

= $34,200 - $5,100

= $29,100

Therefore, the amount of retained earnings at the end of year 2

= Amount of retained earnings for year 1 + Amount of retained earnings for year 2

= $8,100 + $29,100

= $37,200

8 0

3 years ago

The interest on a loan plus the charges and fees is known as the___

Rainbow [258]

The interest on a loan plus the charges and fees is known as the: B. annual percentage rate

<h3>What is annual percentage rate?</h3>

Annual percentage rate can be defined as the interest rate on a loan which includes the charges as well as the fees.

The annual percentage rate help to determine or measure the amount a lender charges the borrower per annual or per year.

Therefore the correct option is B.

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4 0

2 years ago

Your parents will retire in 27 years. They currently have $360,000 saved, and they think they will need $2,400,000 at retirement

Colt1911 [192]

Answer:

<em>The (minimum) annual interest rate should be at 7.28%</em>

Explanation:

<u>Compound Interest</u>

An investment consisting of a principal P, (or present value) earns interest on each period considering the previous period's amount including the interest earned (no withdrawals). This situation is defined as an investment in compound interest unlike simple interest, where each interest amount is withdrawn and the new principal is P again.

To find the future value (FV) of an investment with an interest annual rate i during n years is

$\displaystyle FV=P(1+i)^n$

If needed, we can solve the equation for i. Dividing by P:

$\displaystyle \frac{FV}{P}=(1+i)^n$

Taking the nth-root:

$\displaystyle \sqrt[n]{\frac{FV}{P}} =1+i$

Finally:

$\displaystyle i=\sqrt[n]{\frac{FV}{P}} -1$

The parents will retire in n=27 years and they currently have P=$360,000 as an initial investment that they want to become into their retirement funds. Let's calculate the needed interest rate:

$\displaystyle i=\sqrt[27]{\frac{2,400,000}{360,000}} -1$

$\displaystyle i=1.0728-1=0.0728$

$i=7.28\%$

The (minimum) annual interest rate should be at 7.28%

8 0

3 years ago

When the price of pistachio nuts is $7.50 per lb. the quantity demanded is 48 lbs. When the price of pistachios is $9.00 per lb.

ruslelena [56]

Unit-elastic
The amount required is 48 pounds while the price of pistachio nuts is $7.50 per lb. The amount needed is 40 pounds when pistachios cost $9.00 per lb. We can state that the demand for pistachio nuts is Unit elastic when the midpoint formula is applied to calculate the price elasticity of demand.

Unit Elastic - The economic theory known as unit elastic demand holds that when a product's price changes, the quantity desired also changes in an equal and proportional manner. In other words, the percentage change in price and the percentage change in demand for the product are equal. Consider the elastic demand on a basis of units per unit.
For more information about unit elastic please visit - brainly.com/question/14897348
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8 0

2 years ago