Answer and Explanation:
The red and the convertible cars would be considered similar i.e. they are perfect substitutes also the car and the convertible car would be the substitutes but it is not a perfect as the convertible car would be the subset of the car group plus the expenditure made on the convertible car would be high so here the elasticity is more
Answer:
$7,714
Explanation:
The computation of the cost of good sold under LIFO method is shown below
But before that following calculations need to be done
Goods sold = Beginning inventory + Purchases - Ending inventory
= 114 + (399 + 57) - 190
= 380 units
Now 380 units sold would include 57 units of July 22 purchases and balance i.e. (380-57) 323 units of July 7 purchases
So, cost of goods sold
= (57 × 22) + (323 ×20)
= $7,714
Answer:
monthly payment = $10,009 (rounded to nearest dollar)
Explanation:
A 3/1 adjustable rate mortgage (ARM) means that the monthly payment will be fixed during the first 3 years only. Then they should vary, although the variance is generally upwards. The monthly interest can be calculated by using the present value of an annuity formula:
monthly payment = present value of the loan / annuity factor
- present value of the loan = $2,225,000 x 85% = $1,891,250
- PV annuity factor, 0.40625%, 360 periods = 188.9615
monthly payment = $1,891,250 / 188.9615 = $10,008.65256 ≈ $10,009
Answer:
Cost of equity = 8.22%
Explanation:
Cost of equity = Dividend per share /current market value + growth rate of dividend
Cost of equity = 2/90 + 6%
Cost of equity = 0.0222 + 6%
Cost of equity =0.0222 + 0.06
Cost of equity = 0.0822
Cost of equity = 8.22%
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