<span>The Gramm-leach-Bliley Act requires banks and financial institutions to alert customers of their policies and practices in disclosing customer information. The act was created in 1999. If the customer did not like the policies and practices of the financial institutions they could opt out. A major concern was how financial institutions used customer's private information and what third parties the institutions sold the info to. This act helped customers avoid this.</span>
<span>It would be: $3 million ($10 million in cost less $7 million in payment)</span>
Answer:
$281.67
Explanation:
Data provided in the question:
Current selling price of large TV = $380
Cost of Large TV = $310
Selling price of new TV = $340
Increase in sales = 20% = 0.20
Current sales = $150,000
Now,
Expected sales after reducing the price = Current sales + Increase in sales
= 150,000 + ( 0.20 × 150,000 )
= 150,000 + 30,000
= 180,000
Target Operating income = ( $380 - $310 ) × current sales
= $70 × 150,000
= $10,500,000
New operating cost per unit
= Target Operating income ÷ Expected sales after reducing the price
= $10,500,000 ÷ 180,000
or
New operating cost per unit = $58.33
Target Cost
= Price after reduction - New operating cost per unit
= $340 - $58.33
= $281.67
Depository institutions---is a financial institution (such as a savings bank, commercial bank, savings and loan association, or credit union) that is legally allowed to accept monetary deposits from consumers.It contribute to the economy by lending much of the money saved by depositors.
financial non depository institutions are financial intermediaries that do not accept deposits but do pool the payments of many people in the form of premiums or contributions and either invest it or provide credit to others. Hence, nondepository institutions form an important part of the economy. These institutions receive the public's money because they offer other services than just the payment of interest. They can spread the financial risk of individuals over a large group, or provide investment services for greater returns or for a future income.
Nondepository institutions include insurance companies, pension funds, securities firms, government-sponsored enterprises, and finance companies. There are also smaller nondepository institutions, such as pawnshops and venture capital firms, but they constitute a much smaller portion of sources of funds for the economy
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