Which of the following documents will a bank issue in order to secure a loan with your personal assets?

Why is it more difficult to get out of debt when only paying the minimum payment?

Artyom0805 [142]

When one keeps paying only the minimum amount, they will find getting out of debt harder because:

More interest will accrue on the balance left

When a person pays the minimum balance that they are supposed to pay on a loan, they will be leaving a larger portion of money to be paid back.

This amount will accumulate interest such that the debt will keep increasing because the interest needs to be paid back as well.

In order to get out of debt faster, it is recommended that you pay higher than the minimum because this would reduce the amount that interest is charged on which means that you would owe less interest.

In conclusion, paying the minimum balance leads to more interest accumulating which makes getting out of debt difficult.

Find out more at brainly.com/question/13711677.

7 0

2 years ago

Define private equity funds economics.

Bingel [31]

its like keeping the funds private and makeing sure no one knows alot about it

4 0

3 years ago

Suppose a worker in Peru can produce 11 lamps or 4 dressers in a day and a worker in Canada can produce 15 lamps or 6 dressers i

wolverine [178]

Answer:

4/11 and 6/15 dressers.

Explanation:

Absolute advantage is the ability of a country to produce more of a product given the same resources than another country per unit time. It also applies when a country is able to produce same amount of goods with another country given less inputs.

So a country that produces more goods uses a more efficient process to get more output.

In this scenario a worker in Peru can produce 11 lamps or 4 dressers in a day and a worker in Canada can produce 15 lamps or 6 dressers in a day. Canada has absolute advantage in producing lamps and dressers, so importing these items will not be beneficial.

To get a balance where both countries will benefit a lamp will have to go for a ratio of each countrie's product to the opportunity cost.

That is for Peru to produce 4 dressers it will have opportunity cost of 11 lamps. So the ratio is 4/11.

Also for Canada to produce 6 dressers it will have opportunity cost of 15 lamps. So the ratio is 6/15.

Lamp should trade for between 4/11 to 6/15 dressers for both countries to benefit.

4 0

2 years ago

As a result of new global competition, companies have had to make a wide variety of high-quality custom-designed products at a v

Rudiy27

Answer:

Number 4 is correct. Mass customization.

Explanation:

In this question, the most appropriate alternative is mass customization.

It can be defined as a process where companies produce goods and services for an expanded market, but that such products are modified and personalized to meet the needs and desires of a potential customer.

Mass customization allows the company to produce customized products with the advantage of productive flexibility and low unit costs that come from the mass manufacturing process.

This is a marketing strategy that is used to generate value for the consumer, since the company is able to offer a product with greater added benefits and at the same time maintain low manufacturing costs, which creates value and increases consumer satisfaction.

6 0

2 years ago

Read 2 more answers

During 2020, Stellar Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Stellar for a

Ber [7]

Answer:

What is the amount of gross profit realized during 2020?

(460 x $33.30) + (230 x $29.60) + (276 x $18.50) = $27,232

What is the amount of inventory of unsold straight chairs on December 31, 2020?

[(920 - 460) x $56.70] + [(690 - 230) x $50.40] + [(1,610 - 276) x $31.50] = $26,082 + $23,184 + $42,021 = $91,287

Explanation:

lump sum cost of chairs = $137,655

Type Chairs Selling Price Each Total

Lounge chairs 920 $90 $82,800

Armchairs 690 $80 $55,20

Straight chairs 1,610 $50 $80,500

total 3,220 $218,500

if we allocate costs based on resale, then each chair should cost:

Lounge chairs $90 x ($137,655 / $218,500) = $56.70

Armchairs $80 x ($137,655 / $218,500) = $50.40

Straight chairs $50 x ($137,655 / $218,500) = $31.50

contribution margin per chair:

Lounge chairs $90 - $56.70 = $33.30

Armchairs $80 - $50.40 = $29.60

Straight chairs $50 - $31.50 = $18.50

7 0

3 years ago