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satela [25.4K]
3 years ago
13

Keisha owns a house worth $275,000 with a mortgage of $195,000. She owns a car worth $12,000 and has $7,500 in car loans. She ha

s $3,000 in investments, $2,700 in a bank account, and owes $1,500 on a credit card. What is Keisha’s net worth?
Business
1 answer:
Rainbow [258]3 years ago
6 0

Answer:  $88,700

Explanation:

Given that,

House value = $275,000

Mortgage = $195,000

Car value = $12,000

Car loans = $7,500

Investments = $3,000

Bank account = $2,700

Owes on a credit card = $1,500

Keisha’s net worth:

= House value - Mortgage + Car value - Car loans + Investments + Bank account - Owes on a credit card

= $275,000 - $195,000 + $12,000 - $7,500 + $3,000 +  $2,700 -  $1,500

= $88,700

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Sorry but you need to answer this one bud. I would help you if I could but I don't know what makes you, well you. :)

4 0
3 years ago
7. Identifying costs of inflation Bob manages a grocery store in a country experiencing a high rate of inflation. He is paid in
stiks02 [169]

Answer:

Shoe-leather Costs.

Explanation:

In this scenario, Bob manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash twice per month. On payday, he immediately goes out and buys all the goods he will need over the next two weeks in order to prevent the money in his wallet from losing value.

What he can't spend, he converts into a more stable foreign currency for a steep fee. This is an example of the Shoes-leather costs of inflation.

A Shoe-leather costs refers to the costs of time, energy and effort people expend to mitigate the effect of high inflation on the depreciative purchasing power of money by frequently visiting depository financial institutions in order to minimize inflation tax they pay on holding cash.

Metaphorically, it ultimately implies that in order to protect the value of money or assets, some people wear out the sole of their shoes by going to financial institutions more frequently to make deposits.

Hence, Bob is practicing a shoe-leather cost of inflation so as to reduce the nominal interest rates.

5 0
3 years ago
You want to be a millionaire when you retire in 35 years. a. How much do you have to save each month if you can earn an annual r
expeople1 [14]

Answer:

Monthly deposit= $164.24

Explanation:

Giving the following information:

Future value= $1,000,000

Interest rate= 0.118/12= 0.00983

Number of periods= 35*12= 420 months

<u>To calculate the monthly deposit, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (1,000,000*0.00983) / [(1.00983^420) - 1]

A= $164.24

7 0
3 years ago
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Answer:

The correct answer is use of multiple cost drivers to allocate overhead

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Use of direct labor hours or direct labor cost to assign overhead to products is typical  of traditional costing systems as overhead is believed to have positive relationship with labor-related variables.

Besides,using a business-wide or plant-wide single predetermined overhead rate is not feature of traditional systems of costing.

Since labor-related variables such as direct labor hours or direct labor cost is assumed to be a driver of overhead cost,hence an appropriate overhead absorption basis,it is perfectly understood that there is correlation between direct labor and incurrence of overhead cost in the business.

8 0
3 years ago
Almost ___________________ percent of U.S. banks are FDIC members.
KiRa [710]
Answer: c 90%
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