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3 years ago

11

what are the main purposes of a budget? to record the past income and spending. to take a it a student loan from the bank. to pl

an future income and spending. to apply for a mortgage. to balance available resources and expenses.

1 answer:

Softa [21]3 years ago

7 0

I think its either to balance available resources and expenses or to plan future income and spending

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People in a certain group have a 0.60% chance of dying this year. If a person in this group buys a life insurance policy for $

Nonamiya [84]

Answer:

Explanation:

The expected value is calculated by using the probability of each event. If the chance of dying is 0.60% then the chance living is 99.40%. The expect value formula is:

∑[(xi)*P(xi)] (for all i events).

In this problem we have two events: live or die. If the person dies the family receives $1,000,000 (X1=$1,000,000) and if the person lives the family receives $0 (X2=$0). The probability of receiving $1,000,000 is 60% (P(x1)=0.006) and the probability of receiving $0 is 99.40% (P(x2)=0.994)

Using the formula the expected value of the policy (without the insurance cost):

$1,000,000* (0.006)+ $0*(0,994)= $6,000

If we subtract the insurance value:

$6,000-$5,500= $500

5 0

4 years ago

Marquez agrees to buy Dale's pickup truck so he can pull his trailer. Both Marquez and Dale believe that the truck is big enough

Sedaia [141]

Answer:

The answer is C) a mutual mistake

Explanation:

A mutual mistake occurs when the parties to a contract are both mistaken about the same material. Marquez and Dale, both thought that the truck would be big enough to do the job.

4 0

4 years ago

An apartment building has potential annual rents of $80,000. Expenses are $26,000. The current vacancy rate is 6%. The owner has

algol [13]

Answer:

The building is valued at $328,000 for the owner.

Explanation:

We calcualte the value of the building using the perpetuity formula:

C/r = Value

Where:

C = annual income generate for the building

<u>expected rent revenue: </u> revenue x (1 - vacancy)

80,000 x (1 - 0.06) = 75,200

expenses per year <u> (26,000) </u>

<em>income per year: 49,200</em>

<em />

rate of return 15% = 15/100 = 0.15

C/r = Value

49,200 / 0.15 = <em>Value = 328,000</em>

6 0

4 years ago

Each unit of a product requires 5 components. The average number of components is 5.50 due to component failure. Purchasing high

Evgesh-ka [11]

Answer:

correct option is d. $225

Explanation:

given data

product requires = 5 component

average number of components = 5.50

reduce average number of components = 5 per unit

cost per component = $450

solution

we get here reduction in failure costs per unit due to purchasing that is express as

reduction in failure costs per unit due to purchasing = ( average number of components - product requires ) × cost per component .......................1

put here value and we get

reduction in failure costs per unit due to purchasing = ( 5.50 - 5 ) × $450

reduction in failure costs per unit due to purchasing = $225

so correct option is d. $225

4 0

3 years ago

How to create business policies?

svetlana [45]

Step 1: Identify the Need for a Policy.

Step 2: Determine Policy Content.

Step 3: Obtain Stakeholder Support.

Step 4: Communicate with Employees.

Step 5: Update and Revise the Policy.

6 0

2 years ago