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Darina [25.2K]
2 years ago
7

Step 3: Creating a Balanced Family Budget

Business
1 answer:
Alexeev081 [22]2 years ago
3 0

The family budget calculator use is attached accordingly. See relevant definition below.

<h3>What is the minimum monthly income and hourly wage per worker required to cover the monthly expenses indicated in the budget?</h3>

The total budget indicated is $7,304. Hence to cover for the above expenses, one would need to work for at least 8 hours per day, and 5 days a week at the minimum income wage of $50 dollars/Hour.

This translates to:


50 x 8 x 20

= $8,000

<h3>What exactly is a family budget?</h3><h3 />

A family budget is a plan for your household's incoming and outgoing funds for a specific time period, such as a month or year.

<h3>What is the definition of a Family Budget Calculator?</h3>

The Family Budget Calculator calculates the amount of money required for a family to maintain a modest but decent level of life.

The budgets project community-specific expenses for ten different family types (one or two adults with zero to four children) across all counties and metro regions in the United States.

Learn more about Family Budget Calculator:

brainly.com/question/9621657

#SPJ1

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Rising inflation means that the money will have lower value, and this is good news for the borrowers, if they borrow one full salary's worth in 2010, they woould be able to re-pay with with only a fraction of the salary in 2015!
5 0
3 years ago
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Records show that 5% of all college students are foreign students who also smoke. it is also known that 50% of all foreign colle
miskamm [114]
<span>10% Simplest way to solve this problem is realizing that if 50% of all foreign students smoke, then that also means that 50% of all foreign students don't smoke (100% - 50% = 50%). So for every smoking foreign student you see, there's a non-smoking foreign student. So just double the number of smoking foreign students to get the total number foreign students. So 5% * 2 = 10%</span>
4 0
3 years ago
On January 1, 2021, Essence Communications issued $800,000 of its 10-year, 8% bonds for $700,302. The bonds were priced to yield
aev [14]

Answer:

A)

before decrease in rates: 706,483

   after rate decrease:            751,360

B)

interest expense 35,015.12

discount on BP 3,015.12

cash 32,000

--bonds first interest payment--

C)

interest expense 35,165.87

discount on BP       3,165.87

cash              32,000

--second interest payment--

D)

unrealized loss 44,877

  discount on bonds payable  44,877

--to adjust bonds valuation--

Explanation:

First, we solve for the present value of the bond to get the proceeds from the issuance.

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 32,000

time 20

rate 0.05

32000 \times \frac{1-(1+0.05)^{-20} }{0.05} = PV\\

PV $398,790.7310

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   800,000.00

time   20.00

rate  0.05

\frac{800000}{(1 + 0.05)^{20} } = PV  

PV   301,511.59

PV c $398,790.7310

PV m  $301,511.5863

Total $700,302.3173

Now, we do the table for the first year:

# / Principal/      paid /    interest /       Amort/End. P

1 700,302 32000 35015.12 3015.12 703,317

2 703,317 32000 35165.87 3165.87 706,483

Now, we have to redo the calculations for the bonds market value considering a decrease in the market rate to 9%

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 32,000

time 18

rate 0.045

32000 \times \frac{1-(1+0.045)^{-18} }{0.045} = PV\\

PV $389,119.7377

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   800,000.00

time   18.00

rate  0.045

\frac{800000}{(1 + 0.045)^{18} } = PV  

PV   362,240.30

PV c $389,119.7377

PV m  $362,240.2951

Total $751,360.0328

We adjust for: 751,360 - 706,483 = 44,877

This will be an unrealized loss as the liability increases but, will be realized on the redemption of the bonds or at the end of the bonds' life.

3 0
3 years ago
Steve's employer offers a health plan that stresses preventive services and covers routine immunizations and checkups, screening
Tems11 [23]

The correct answer is an HMO.

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3 years ago
The marginal productivity theory states that if a firm operates in a perfectly competitive factor market, it pays each factor of
lord [1]

Answer:

a) Only hiring workers who have earned good grades in college.

Explanation:

The Marginal Productivity theory defines as change in revenue of a business resulting due to employment of one additional labor.

This theory has many assumptions that perfect  competition prevails in the market. All workers have same abilities and skills. Productivity of labors can be measured accurately. Every unit is homogeneous etc.

To overcome this information problem a firm should hire only workers who have earn good grades in college. It assumes that these workers will have greater skills and will contribute in revenue contribution to the organization.

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