Then poverty will fall and inequality will rise.
<h3>
What is poverty?</h3>
- Being in a state of poverty means having few material possessions or little money.
- Numerous social, economic, and political factors can contribute to or be a result of poverty.
- There are two primary metrics of poverty used in statistics and economics: Relative poverty is the inability of a person to maintain a minimal standard of living in comparison to others in the same period and place.
- Absolute poverty is the comparison of income to the amount required to meet fundamental personal necessities, such as food, clothing, and shelter.
- Depending on the community or the country, many terms are used to define relative poverty.
<h3>
What is income inequality?</h3>
- The disparity in how income is allocated among people or populations is known as income inequality.
- It is also known as the wealth gap, wealth disparity, wealth and income discrepancies, or the gap between the rich and the poor.
- Therefore, the poverty will fall and inequality will rise.
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Answer:
$2,500; $1,500
Explanation:
Given that,
Total amount invested = $4,000
Let the amount invested at 2% be x,
and the amount invested at 3% be (4,000 - x)
Interest earned = $95
Time period = 1 year
Simple interest = Principle × Interest rate × Time period
$95 = (x × 0.02 × 1) + [(4,000 - x) × 0.03 × 1)
$95 = 0.02x + 120 - 0.03x
$95 = -0.01x + 120
0.01x = 120 - 95
0.01x = 25
x = 2,500
Therefore,
Amount invested at 2% = x = $2,500
Amount invested at 3% = (4,000 - x)
= 4,000 - 2,500
= $1,500
Answer:
Net cash flow as at the year end= $22,100
Explanation:
The statement of cash flows for Moore shall be calculated as follows:
Cash balance as at January 1, 2018= $54,000
Cash inflow from operating activities= $35,600
Cash outflow from investing activities= ($43,000)
Cash outflow from financing activities= ($24,500)
Net cash flow as at the year end= $22,100
Nineteen-year-old Devon can tell to his parents on giving the disapproval of credit card that He needs a credit card if he wants to make any online purchases.
<h3>What is credit card?</h3>
A credit card is one that is offered to consumers and applied to make acquisitions with the thought that the cardholder will eventually return to the card issuer.
This return eventually for the cost of the things purchased, as well as any agreed-upon fees and interest, if any.
In the above case, Nineteen-year-old Devon wishes to acquire a credit card, but his parents feel it is not a smart idea.
What fiscally sensible argument can Devon present should get his parents to require a credit card if he intends to make any online transactions.
Therefore, option C is correct.
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Answer:
The state tax Patrick must pay on the initial profit is $350. The federal tax he must pay on the initial profit is $1750. The inflation on the amount remaining after taxes is $147. As a result, the real value of Patrick’s profit is $4678
Explanation:
Patrick has successfully invested in a growing tech company. Three years ago he invested $10,000 in the company through a broker. Now he has decided to sell his stock. The value of his stock is now at $17,000. Here are the taxes and fees associated with his investment: Annual brokerage fee: $25 State tax: 5% of profit Federal tax: 25% of profit Inflation rate: 1% per year The state tax Patrick must pay on the initial profit is . The federal tax he must pay on the initial profit is . The inflation on the amount remaining after taxes is . As a result, the real value of Patrick’s profit is .
Answer:
Patrick invested $10000 and after three years the value of his stock is $17000.
Profit = Value of stock - Amount invested = $17000 - $10000 = $7000
Total brokerage fee = Annual brokerage fee × number of years = $25 × 3 = $75
State tax = 5% of profit = 5% of $7000 = 0.05 × $7000 = $350
Federal tax = 25% of profit = 25% of $7000 = 0.25 × $7000 = $1750
Profit after tax = $7000 - $350 - $1750 = $4900
Inflation on the amount remaining after taxes = 1% of profit after tax × number of years = 3 years × (0.01 × $4900) = 3 × $49 = $147
Therefore the real value of profit = Profit - Total brokerage fee - state tax - federal tax - inflation = $7000 - $75 - $350 - $1750 - $147 = $4678
