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vodomira [7]
2 years ago
12

Reed, a 15-year-old, has run out of money while on a trip away from home. Martha gives him food, a place to sleep, and his bus f

are home, in exchange for Reed's promise to pay $200 after he got home. Is Reed's promise enforceable?
Business
1 answer:
OLEGan [10]2 years ago
5 0

Answer:

Explanation:

Food, clothing, housing, and medical care are needed. Bus fares are probably also considered necessary, although it can be controversial depending on the distance of a minor. Rules are essential for adolescents to pay for the value of the benefit received. In other words, Reed can reject the contract, but he must take responsibility for any benefit he received from Martha.

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Answer:

after 9 years:

FV $15,625.2437

in 14 years:

FV $31,223.0270

last, at the nineteenth year:

FV $55,222.1501

Explanation:

We have to solve for the annuity of 1,200 dollar with a yield of 9% at the proposed times:

C \times \frac{(1+r)^{time}-1 }{rate} = FV\\

C 1,200.00

time 9

rate 0.09

1200 \times \frac{(1+0.09)^{9} -1}{0.09} = FV\\

FV $15,625.2437

time = 14

1200 \times \frac{(1+0.09)^{14}-1 }{0.09} = FV\\

FV $31,223.0270

time = 19

1200 \times \frac{(1+0.09)^{19} -1}{0.09} = FV\\

FV $55,222.1501

8 0
3 years ago
Double D Ranch and Esau enter into a contract on August 1 for the sale of 200 cattle. Esau cancels the contract ten days later.
ycow [4]

Answer:

Keep the cattle and recover the contract price from Esau

Explanation:

Since in the question it is given that the Double D Ranch and Esau enter into a contract on August 1 for selling of 200 cattle.

But Esau cancels the contract after 10 days. Now the Double D Ranch is not able to sell the cattle to the another buyer so in this case , the Double D Ranch should keep the cattle and get back the price of the contract from the another party i.e Esau as he cancels the contract

3 0
2 years ago
What role does the idea of machine/machinery play in constructivist settings?
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Answer:

Explanation:

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5 0
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