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stellarik [79]
2 years ago
13

Scott is a 15-year-old student who works at a part-time job and gets paid every two weeks. His paycheck goes directly to his pre

paid debit card. Due to some unexpected expenses, Scott is applying for a payday loan. After visiting the storefront payday lender, Scott was denied the loan because he
Business
1 answer:
malfutka [58]2 years ago
4 0

Scott was denied the loan because he was not old enough to qualify.

<h3>What is the Payday loan?</h3>

Payday loan is a type of unsecured loan in which high rate of the interest is given to the borrower. It is a kind of the short term loan basically for the two weeks.

According to the above situation, Scott is cannot get the payback loan because he is  minor to sanction a loan. He must have the age of 18 years or above.

Learn more about payday loan here:

brainly.com/question/3949419

#SPJ1

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A-Z Construction Company was organized on May 1 of the current year. On May 2, A-Z Construction prepaid $18,480 to the city for
Nina [5.8K]

Answer:

Explanation:

The journal entries are shown below:

Taxes expense A/c Dr $12,320

        To Prepaid Taxes                      $12,320

(Being prepaid taxes are adjusted)

Taxes expense A/c Dr $45,000

        To Property taxes payable                   $45,000

(Being property taxes are adjusted)

The prepaid taxes are computed below:

= Prepaid taxes × (number of months ÷ total number of months in a year)

= $18,480 × (8 months ÷ 12 months)

= $12,320

The eight months is calculated from May 1  to December 31

6 0
3 years ago
Luciana is the first to offer a new product to customers in the local market and expects no competitors to emerge for at least t
storchak [24]

Answer:

skimming.

Explanation:

In this context, it can be said that Luciana will use the skimming pricing strategy.

This strategy consists of setting a relatively high price for the new product or service that will be offered in the market and then gradually lowering its price.

This strategy works by charging a high initial price that will be accepted by the first customers and after the first demand is satisfied, the price will be reduced to attract the most price sensitive customers.

8 0
3 years ago
Three weeks ago, Mike McGee left to join a larger company, and management decided to reorganize the IT department. Felesia Stuke
denpristay [2]

Answer:do you like pizza

Explanation:

7 0
3 years ago
A consumer is currently purchasing three pairs of jeans and five T-shirts per year. The price of jeans is $50, and shirts cost $
KiRa [710]

Answer:

This consumer should continue to maintain the current rate of consumption of purchasing three pairs of jeans and five T-shirts per year in order to continue to maximize utility since utility per dollar of the two goods are both equal to 5.

Explanation:

Under utility maximization theory for two or more goods, utility of a consumer is maximized when the ratios of marginal utility to price of each good are equal to one another. That is, utility is maximized when the utility per dollar of all the goods are equal. Any attempt by the consumer to increase or reduce the quantity of one good will not maximize his utility.

Using the pairs of jeans and T-shirts given in the question as an example, utility of the consumer is maximized when we have the following:

MUj/Pj = MUs/Ps ………………………………………………. (1)

Where;

MUj = Marginal utilities of jeans = 250

Pj = Price of jeans = $50

MUj = Marginal utilities of shirts = 150

Pj = Price of shirt = $30

Substituting the values into equation (1), we have

250/50 = 150/30

5 = 5

Since MUj/Pj = MUs/Ps is 5 = 5, it implies that the consumer is currently maximizing his utility of purchasing three pairs of jeans and five T-shirts per year. Any attempt to increase or reduce the unit of one good will not maximize his utility.

Therefore, based on the model of consumer choice, this consumer should continue to maintain the current rate of consumption of purchasing three pairs of jeans and five T-shirts per year in order to continue to maximize utility since utility per dollar of the two goods are both equal to 5.

Note

The consumer can only change increase the quantity of a good if more utility per dollar than another until when it utility diminishes to a point where its utility per dollar equal to that of the other good.

8 0
3 years ago
Mutual savings institutions are owned by who?
ELEN [110]
Members of the institution
3 0
3 years ago
Read 2 more answers
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