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Elden [556K]
3 years ago
5

The town of Sanford, Maine, decided to auction off a plot of land owned by the town. The town advertised that it would accept bi

ds through the mail, up to a specified date. Arthur and Arlene mailed in a bid that turned out to be the highest of all the bids the town received. When the town refused to sell them the lot, they sued. Who will win?
Business
1 answer:
rodikova [14]3 years ago
5 0

Answer:

The answer is: Both parties could win, depending if there were other conditions established for the auction.

Explanation:

Usually when an auction is carried out there are conditions established beforehand by the auctioneer that must be fulfilled in order for the sale to be completed.

In this case, since we don´t know what other conditions the town of Sanford included in the auction, if any other condition at all, we can´t conclude which party could win the lawsuit. For instance if a reserve was required but Arthur and Arlene didn´t do the reserve deposit, then they will obviously lose. The same happens with other established conditions like a minimum price set, etc. But if no other condition established, then Arthur and Arlene could win.

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Acquiring a government job based on political loyalty, without regard to ability, is called
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6 0
3 years ago
Question Suppose you have $200,000 in a bank term account. You earn 5% interest per annum from this account. You anticipate that
Vanyuwa [196]

Answer:

Deposited amount will decrease by 1% and $2,000

Explanation:

Inflation rate will effect the value of money due to decrease in purchasing power of the currency holder.

We will use following formula to calculate the impact

Nominal rate = Real interest rate + Inflation rate

5% = Real interest rate + 6%

Real interest rate = 5% - 6% = -1%

The deposited amount will be decreased by 1%.

Deposit value = $200,000 x ( 1 - 1% ) = $198,000

Decrease in value = $200,000 - $198,000 = $2,000

6 0
3 years ago
A three-year bank CD paying 7.23 percent compounded quarterly. Calculate effective annual interest rate (EAR)? (Round answer to
Serggg [28]

Answer:

Follows are the solution to the question:

Explanation:

m = 4,

EAR = (1 + \frac{0.08}{4}) \times 4-1

       =  1 + 0.02 \times 4-1\\\\=  1 + 0.08 -1\\\\= 0.08\\\\

The successful quarter cumulative rate of interest = 8.24 \%

In Method 2 use Tool in Texas:

By Using the (ICONV) worksheet:

1)

To pick the worksheet, click ICONV 2.

2)

Its previous meaning will represent the NOM.

3)

To clear the worksheet, click [CLR WORK] 2nd

Continue as below.

Displayed keystrokes:

NOM = previous value 2nd ICONV:

NOM = 0.00 2nd CLRWORK:

8 DAYS: Name = 8.00.

EFF: DownArrow = 0.00

DownArrow: C / Y = meaning previous

4)

DOS: C / Y = 5.00 p.m.

EFF: DownArrow = 0.00

CPT: FRP = 8.24

3 0
3 years ago
Using the SMART goal-writing criteria, what refers to asking how to achieve the goal?
Deffense [45]

In SMART goal-writing criteria, the one that refers to being able to complete a goal is: Attainable

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3 0
3 years ago
Read 2 more answers
Goofy Inc. had accounts receivable of $200,000 and an allowance for uncollectible accounts of $8,500 just before writing off as
SpyIntel [72]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
7 0
3 years ago
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