When demand curves intersect, the curve with the larger slope in absolute value (the steeper demand curve) is more elastic?

After visiting several automobile dealerships, Richard selects the car he wants. He likes its $11,500 price, but financing throu

WITCHER [35]

Answer:

The answers are:

A) total interest = p x r x t

where:

p = $9,200
r = 10%
t = 2 years

total interest = $9,200 x 10% x 2 = $1,840

B) the total cost of the car = down payment + principal + total interest

total cost = $2,300 + $9,200 + $1,840 = $13,340

C) monthly payment = (principal + total interest) / total number of payments

monthly payment = ($9,200 + $1,840) / (12 x 2) = $11,040 / 24 = $460

D) APR = (total payments x total interest) / [principal x (total payments +1)]

APR = (24 x $1,840) / ($9,200 x 25) = 0.192 or 19.2%

5 0

4 years ago

Ban Co purchased 50, 5% Waylan Company bonds on January 1, 2016 for $50,500 cash Interest is payable annually on January 1 the J

I am Lyosha [343]

Answer:

a. debit to Interest Revenue for $2,500

Explanation:

Based on the information given we were told that Ban Company made a purchased of 50, 5% Waylan Company bonds for the amount of $50,500 which is a cash Interest that is payable annually which means that the annual interest payment would include a: DEBIT to Interest Revenue for $2,500 calculated as :

Interest Revenue=[(50 x $1,000)×5%]

Interest Revenue=$50,000×0.05

Interest Revenue =$2,500

5 0

3 years ago

Preferred stock, 5%, $50 par value, 1,200 shares issued and outstanding with dividends in arrears for the three prior years. Com

Ivenika [448]

Answer:

$12,000

Explanation:

total preferred dividends per year = 1,200 x $50 x 5% = $3,000

since they were not paid during the past three years, and they are cumulative, the total preferred dividends = $3,000 x 4 = $12,000

common stock dividends = total dividends - accumulated preferred dividends = $25,000 - $12,000 = $13,000

cumulative preferred stocks that are not paid in the past, must be paid before any common dividends are paid

8 0

3 years ago

On July 1, 2008, Sheeley Company pays $8,000 to its insurance company for a 2-year insurance policy.InstructionsPrepare the nece

Readme [11.4K]

Answer:

Debit Prepaid insurance $8,000

Credit Cash account $8,000

Being entries to recognize prepaid insurance as at July 1 , 2008

Debit Insurance expense $2,000

Credit Prepaid Insurance $2,000

Being entries to recognize insurance expense as at December 31.

Explanation:

The amount paid by Sheeley Company On July 1, 2008 is a prepayment (an asset) as it is paid in advance. The insurance cover was yet to be enjoyed as at that date.

Entries required to recognize this payment

Debit Prepaid insurance $8,000

Credit Cash account $8,000

Being entries to recognize prepaid insurance as at July 1 , 2008

As at 31 December, the company would have incurred expenses for 6 months out of the 24 months (2 years) paid for.

This amounts to

= 6/24 × $8,000

= $2,000

To recognize this by December 31

Debit Insurance expense $2,000

Credit Prepaid Insurance $2,000

Being entries to recognize insurance expense as at December 31.

3 0

3 years ago

True or False: Stress is always present.

DIA [1.3K]

I would say false. Stress isn't always 100% there, but I'll not sugarcoat it: There is a LOT of stress when it comes to running a business, especially a small one. I would know, because my mother runs one, and she is almost constantly stressed out. Let it be deadlines, or taxes, or her employee didn't come in that morning, there is much stress. But again- it's NOT always there. It's extremely rare, but sometimes you are actually stress free.

I hope this helped! Please take the time to rate, pick the Brainliest answer (not necessarily mine!), and thank me if you feel I helped with this question! Thank you, it helps me a lot. :)

4 0

4 years ago

Read 2 more answers

When demand curves​ intersect, the curve with the larger slope in absolute value​ (the steeper demand​ curve) is more elastic?

When demand curves intersect, the curve with the larger slope in absolute value (the steeper demand curve) is more elastic?