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4 years ago

What type of credit involves a set number of payments at a set dollar amount for a fixed period of time?

2 answers:

7 0

A loan is a type of credit that involves a set number of payments at a set dollar amount for a fixed period of time. When you take out a loan on something, you are agreeing to the amount of the loan and the terms that are set for repaying the lender back.

You can calculate the balance based on the daily balance method which sums up all of your finance charges for each day during the period. You can divide the APR by 365 to see the amount of interest that is paid daily. Lately, you can take the balance and multiple it by the per day interest to get the payment charges.

lilavasa [31]4 years ago

4 0

Installment Credit involves a set number of payments at a set dollar amount for a fixed period of time.

Adjusted balance method
Previous balance method
Average daily balance method

Hope this helps, have a blessed and wonderful day!

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In its first month of operation, Ivanhoe Company purchased 320 units of inventory for $5, then 420 units for $6, and finally 360

Dovator [93]

Answer:

Phantom profit = $680

Explanation:

Phantom profits or illusionary profits are used in the context of inventory, during periods of rising costs. It is the difference between profit reported using the historical cost and the profit that would have been reported if the replacement cost was used. To understand this, we need to know the cost of goods sold under both the LIFO and FIFO methods.

Total inventory:

1. 320 units x $5 = $1600

2. 420 units x $6 = $2520

3. 360 units x $7 = $2520

If ending inventory was 400 units, the number of units sold =

Total inventory - ending inventory

(320 + 420 + 360) - 400 = 700 units

FIFO is where by the inventory that first enters the business is the one used first. Common for inventory consisting of perishable goods.

This would be used up as:

1. 320 units x $5 = $1600

2. 380 units x $6 = $2280

Hence, COGS under FIFO = $2280 + $1600 = $3880

LIFO is a method of inventory valuation where the inventory that comes in last is first to be used. This is common in bulk inventory stacked one on top of the other. COGS under this method:

1. 360 units x $7 = $2520

2. 340 units x $6 = $2040

Thus, COGS under LIFO is $2520 + $2040 = $4560

COGS is $4560 when using LIFO and $3880 when using FIFO. Thus, the phantom profit is $4560 - $3880 = $680.

8 0

3 years ago

Consider an economy that produces only DVDs and DVD players. Last year, 10th DVDs were sold at $20 each and 5 DVD players were s

trapecia [35]

Real GDP this year using last year as the base year is

B) $700

Explanation:

Last year, 10th DVDs were sold at $20 each and 5 DVD players were sold at $100 each, while this year 15 DVDs were sold at $10 each and 10 DVD players were sold at $50 each. Real GDP this year using last year as the base year is $700.
Gross Domestic Product (GDP) is the monetary value of all finished goods and services made in a country during a specific period of time.
The Gross Domestic Product calculates the real value of economic activity within a country.
GDP is a number that shows the net worth of the output of a country in local currency.
It represents the value of all goods and services produced in a specific time period within a country's borders.
Gross domestic product (GDP) is the total value of everything produced in a country.

8 0

4 years ago

Select two answers

vaieri [72.5K]

B.) his counselor certification

D.) His years of teaching experience

6 0

3 years ago

Read 2 more answers

The 2014 balance sheet of Steelo, Inc., showed current assets of $3,135 and current liabilities of $1,545. The 2015 balance shee

Pachacha [2.7K]

Answer:

-$35

Explanation:

The computation of the change in net working capital is as follows:

Net working capital = current assets - current liabilities

For 2014,

net working capital i s

= ($3,135 - $1,545)

= $1,590

And,

for 2015,

net working capital is

= ($3,100 - $1,545)

= $1,555

So, the change in net working capital is

= ($1,555 - $1,590)

= -$35

8 0

3 years ago

You purchased a stock at a price of $56.04. The stock paid a dividend of $2.31 per share and the stock price at the end of the y

sineoko [7]

The dividend yield for the given stocks is 4.12%.

What is dividend yield?

A financial ratio (dividend/price) called the dividend yield, which is stated as a percentage, demonstrates how much a firm pays in dividends annually in relation to the price of its stock.
The price/dividend ratio is the counterpart of the dividend yield.
The dividends from real estate investment trusts (REITs), master limited partnerships (MLPs), and business development corporations (BDCs) are taxed more heavily than the typical dividend.
The dividend yield of a stock may be rising as a result of a dropping stock price, therefore it's crucial for investors to remember that greater dividend yields do not always signal appealing investment prospects.

<u>Solution:</u>

We know that dividend yield = $\frac{Dividend per share}{Share price}$ × 100

dividend yield = $\frac{2.31}{56.04}$ × 100 = 4.12%

Know more about dividend yield numerical brainly.com/question/14254149

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4 0

2 years ago