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KatRina [158]
3 years ago
13

Juanita is deciding whether to buy a suit that she wants, as well as where to buy it. Three stores carry the same suit, but it i

s more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $103 for the suit:Determining opportunity cost JuanitaStore Travel Time Each Way (Minutes) Price of a Suit (Dollars per suit) Local Department Store 15 103Across Town 30 88Neighboring City 60 63Juanita makes $16 an hour at work. She has to take time off work to purchase her suit, so each hour away from work costs her $16 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling.Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location.Store Travel Time Each Way (Minutes) Price of a Suit (Dollars per suit)Local Department Store 103 Across Town 88 Neighboring City 63Assume that Juanita takes opportunity costs and the price of the suit into consideration when she shops. Juanita will minimize the cost of the suit if she buys it from the:_______
Business
1 answer:
Gre4nikov [31]3 years ago
7 0

Answer:

The lower economic cost will be going to neighboring city as the difference in price make it worth lossing those working hours.

Explanation:

As all placed will add the same half hour for shopping we should ignore and calculate based in the difference in the price of the suit and distance travel

We should add up the opportunity cost of the labor wage lost to go destination and go back.

Local department 103 dollars + 15 minutes x 2 ( back and forth) x $16 per hour = 103 + 8 = $ 111

Across town 88 dollars + 30 min x 2 x $16 per hour

88 + 16 =   $ 104

Neighboring city $63 + 1 hours x 2 x $16 per hour

$63 + $32 = $95

<u><em>The lower economic cost </em></u>will be going to neighboring city as the difference in price make it worth lossing those working hours.

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If bonds for Crayon Corporation, with a face value of $150,000, are converted into common stock when the carrying value of the b
Llana [10]

Answer:

(C) Bonds Payable for $150,000

Explanation:

the face value of the bonds will the value at which bonds payable account enter the accounting. Then, there is a discount which decrease the net value of the bonds:

Bonds Payable        150,000 credit

Discount on bonds   15,000  debit

When the bonds are converted, we will write-off these account against common stock and additional paid-in

To wirte-off the account we need to post them in the other side so we got:

Bonds payable debit 150,000 debit

       Discount on bonds         15,000 credit

      Common Stock                       xx credit

      Additional paid.in                    xx credit

These makes option C correct

5 0
3 years ago
BestBank's Visa credit card discloses an A.P.R. of "Prime Rate + 5.74% to Prime Rate + 22.74%." If the Prime Rate increases from
Brrunno [24]

The prime rate is the base rate for any financial transaction. The prime rate is considered for each type of lending instruments by the bank. bank add a margin % over the prime rate and offer loan/instrument at the increased rate.

In the given case, the BestBank's Visa credit card discloses an A.P.R. of "Prime Rate + 5.74% to Prime Rate + 22.74%, which means the A.P.R is calculated on the basis of Prime rate and any change in prime rate will directly affect the A.P.R.

The Prime Rate has increased from 3.25% to 4.25%, it means the increase of 1%. Hence the A.P.R. Shall also increase by 1%.

Hence the correct answer is:

b. Increase in A.P.R by 1%

4 0
3 years ago
Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. Which statement is true
murzikaleks [220]

Based on the information given regarding the mortgage, the true statement will be that each of their payments is for the same amount.

A fully amortized payment simply means a payment where the individual makes every payment according to the schedule of the loan.

A fully amortized payment is a periodic repayment of a debt. Since Karen and Al obtained a 30-year fixed-rate fully amortized loan when they purchased their home, they'll pay the same amount monthly.

Learn more about mortgage on:

brainly.com/question/1318711

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Irina-Kira [14]

Answer:

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Explanation:

7 0
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monitta

Answer:

d. not selected option d copyright

6 0
3 years ago
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