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cupoosta [38]
3 years ago
13

Analyze the various methods available for avoiding overdrafts. Based on how you might use you account most often, decide which w

ould be the best for you to use with your account.
Business
1 answer:
soldi70 [24.7K]3 years ago
4 0

Overdrafts are given by banks only to trustworthy clients. if the bank balance is maintained clearly. To avoid overdrafts there should always be a sufficient amount of balance and avoid using cheques on situations as such.avoid ATM cards as well

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TREMAINE:
WITCHER [35]

The amount of money he will save by paying an extra $15,000 upfront is $11,974.80.

Loan = Cost - Down payment

Loan = $145,000 - $15,000

Loan = $130,000

<u>Given Information</u>

P/Y= 12, C/Y=12

N= 30*12= 360

I/Y = 4.38

PV= -130,000

Monthly payment = PMT(C/Y, N, I/Y, -PV)

Monthly payment = $649.45

Total interest over the whole term = Monthly payments * Number of payments - Loan

Total interest over the whole term = $649.45*360 - $130000

Total interest over the whole term = $103,802

 

If waited to have down payment of $30,000: The Loan= $145,000 - $30,000 = $115,000

<u>Given information</u>

N= 30*12= 360

I/Y = 4.38

PV= -115,000

Monthly payment = PMT (N, I/Y, -PV)

Monthly payment = $574.51

Total interest over the course of the mortgage = $574.52*360 - $115,000

Total interest over the course of the mortgage = $91,827.20

Money saved by paying extra $15,000 upfront = $103,802 - $91,827.20

Money saved by paying extra $15,000 upfront = $11,974.80

Therefore, the amount of money he will save by paying an extra $15,000 upfront is $11,974.80.

Learn more about fixed mortgage:

<em>brainly.com/question/2501237</em>

5 0
3 years ago
Read 2 more answers
Cage company had income of $350 million and average invested assets of $2,000 million. its return on assets (roa) is
Strike441 [17]
Cage company had income of $350 million and average invested assets of $2,000 million. its return on assets (roa) is

The formula of return on assets is net income divided by average assets.
Given that the net income is $350 million, average asset is $2000

The answer is 0.0005
7 0
4 years ago
Read 2 more answers
Tom’s Tool &amp; Die uses a predetermined factory overhead rate based on machine-hours. For August, Tom’s budgeted overhead was
kondor19780726 [428]

Answer:

(-$1,250) over applied for the period

Explanation:

Predetermined overhead rate:

= budgeted overhead ÷ budgeted volume

= $465,500 ÷ 49,000

= $9.5

Overhead cost with 43,500 hours incurred, they have applied :

= Actual machine-hours × Predetermined overhead rate

=  43,500 × 9.5

= $413,250

They actually incurred $412,000 of overhead cost for the period so they have :

= Actual overhead - Overhead cost with 43,500 hours

= $412,000 - $413,250

= (-$1,250) over applied for the period.

8 0
3 years ago
The owner of Genuine Subs, Inc., hopes to expand the present operation by adding one new outlet. She has studied three locations
Gennadij [26K]

Answer:

The selling price per unit (sandwich) is $2.50

The variable cost per unit (sandwich) is $1.80

Contribution margin per unit = Selling price per unit - Variable cost per unit

=$2.50 - $1.80

=$0.70

Target sales volume to achieved at location A

The fixed cost is $5,040 per month

The target profit is $10,500 per month

TargetSales=Fixedcosts+TargetprofitContributionmarginperunitTargetSales=Fixedcosts+TargetprofitContributionmarginperunit

TargetSales=5,040+10,5000.70TargetSales=5,040+10,5000.70

TargetSales=22,200unitsTargetSales=22,200units

The company needs to sell 22,200 units at location A to achieve target profit of $10,500

Target sales volume to achieved at location B

The fixed cost is $5,560 per month

The target profit is $10,500 per month

TargetSales=Fixedcosts+TargetprofitContributionmarginperunitTargetSales=Fixedcosts+TargetprofitContributionmarginperunit

TargetSales=5,560+10,5000.70TargetSales=5,560+10,5000.70

TargetSales=22,943unitsTargetSales=22,943units

The company needs to sell 22,943 units at location B to achieve target profit of $10,500

Target sales volume to achieved at location C

The fixed cost is $5,730 per month

The target profit is $10,500 per month

TargetSales=Fixedcosts+Target

Explanation:

only i can do sorry

6 0
3 years ago
Which is a step in the process of calculating successive discounts of 8% and 10% on a $50 item?
r-ruslan [8.4K]

Answer: c

Explanation:

5 0
3 years ago
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