One of he reasons is Excessive Medical Expenses.
If you’ve been involved in any type of serious accident or have mounting medical bills due to illness, you may be at risk for financial problems that lead to bankruptcy. Excessive medical expenses are the number one cause of bankruptcy and account for nearly two-thirds of all personal bankruptcies, statistics show.
Even though the majority of people filing for bankruptcy due to medical bills have health insurance, their out-of-pocket expenses still end up being too high.
Answer:
intended use
Explanation:
Products that are in their final form and are ready to be purchased and consumed by individuals or households for their personal satisfaction are classified as consumer products. On the other hand, if they are bought by a business for its own use, they are considered business products.
Answer:
if YTM at 4% price : $2,902.1237
if YTM at 8% price : $1,788.0448
The bonds are above face value asthey offer a higher coupon payment than the market yield therefore the bond holders are willing to pay above theri face value
Explanation:
the market price of the bond will be the present value of coupo payment and maturity:
C 150.000
time 30
rate 0.04
PV $2,593.8050
Maturity 1,000.00
time 30.00
rate 0.04
PV 308.32
PV c $2,593.8050
PV m $308.3187
Total $2,902.1237
No we repeat the process with the yield at 8%
C 150.000
time 30
rate 0.08
PV $1,688.6675
Maturity 1,000.00
time 30.00
rate 0.08
PV 99.38
PV c $1,688.6675
PV m $99.3773
Total $1,788.0448
Myrna borrows $500 at an annually compounded interest rate of 8 percent that she will repay at the end of 10 years. She will be required to pay off $1,079.46 at the end of 10 years.
Your loan principal amount, interest rate, and period are all factors in the straightforward loan payment calculation. The principal amount and interest payments are distributed equally across the length of the loan. Although your term's length may vary, you'll normally have 12 payments to make each year.
Principal: The sum that is deposited into your account when you borrow money. Interest is the fee the lender charges you for a loan. Your interest rate and paid upfront expenses, like as origination fees, are included in your annual percentage rate (APR). Your monthly payments won't fluctuate over the course of the loan because the majority of personal loans have fixed interest rates. Your credit score and credit history impact interest rates; the better your credit score, the cheaper your interest rate will be. Fees: Extra loan costs including origination fees, late fees, insufficient funds fees, and more.
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Answer:
The $1,200,000 should be accounted for in Grove’s special revenue funds
Explanation:
Special revenue fund: The special revenue fund is a fund that is introduced by the government to collect the money from the public. It is made to fulfill the need for specific purposes/ projects.
The computation of special revenue funds is shown below:
= Income received for providing the meals to the needy people + financing of sales tax with respect to tourist facilities maintenance in the shopping district
= $300,000 + $900,000
= $1,200,000
