Credit unions are not-for-profit financial cooperatives. Whose earnings are paid back to members in the form of higher saving rates and lower loan rates.Banks are for profit businesses with earning paid to stockholders only.
Answer:
Promissory estoppel
Explanation:
Promissory estoppel means that in legal tenet that a promise or pledge can be enforced by law, actually if formulated without legal consideration, if the George now the (promisor) has made a pledge to a Susy the (promises) who then depends on that promise for a subsequent detriment. So what Promissory estoppel is expected to do is to stop the (George) promisor from insisting that an underlying promise should not be legally authorized or implemented. So Susy can sue George on the basis of promissory estoppel and get a reward for George's disappointment
Answer:
The correct answer is: True.
Explanation:
The basic or fundamental problem in economics is people have unlimited wants and needs and the resources are limited. These limited resources have alternative uses and are used to satisfy unlimited wants and needs.
These resources are to be used rationally in such a way that total utility or consumption derived is maximized.
Answer:
The price of the stock today is $3.49. The right answer is A.
Explanation:
In order to calculate the price of the stock today, we need to calculate first Value after year 5 with the following formula:
Value after year 5=(D5*Growth Rate)/(Required return-Growth Rate)
To find D5 we need to make the following calculations:
IF D1=0.3
, hence D2=(0.3*1.1)=0.33
, D3=(0.33*1.1)=0.363
, D4=(0.363*1.1)=0.3993 and D5=(0.3993*1.1)=0.43923
Therefore, Value after year 5=(0.43923*1.05)/(0.15-0.05)
=$4.611915
Therefore, now we can calculate the the price of the stock today with the following formula:
current price=Future dividends and value*Present value of discounting factor(rate%,time period)
=0.3/1.15+0.33/1.15^2+0.363/1.15^3+0.3993/1.15^4+0.43923/1.15^5+$4.611915/1.15^5
=$3.49
