It would be overdraw because you’re gonna take money out of your bank account etc.
Answer:
True
Explanation:
Collateral is an asset used as a guarantee or security for the payment of a loan. It assures the lender that a borrower will pay back the loan.
If an entrepreneur applies for a business loan, the bank will most likely demand collateral. The entrepreneur will need to offer an asset, either property or motor vehicle, that will act as a guarantee for the loan. Should the entrepreneur fail in repayment, the bank can sell the asset to recover their money.
Few, if any, will lend anyone money based on a business idea alone. Many banks will demand a business proposal to be backed with some guarantee to secure funding.
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Answer:
PV= $90,990.39
Explanation:
Giving the following information:
Future value= $140,000
Number of periods= 5 years
Rate of return= 9%
<u>To calculate the price to pay today, we need to calculate the present value. We will use the following formula:</u>
PV= FV/(1+i)^n
PV= 140,000 / (1.09^5)
PV= $90,990.39
Answer:
arc price elasticity = -1.64
Explanation:
arc price elasticity = (change in quantity x average price) / (change in price x average quantity)
- change in quantity = 7,400 - 10,000 = -2,600 units
- average price = ($2.50 + $3) / 2 = $2.75
- change in price = $3 - $2.50 = $0.50
- average quantity = (10,000 + 7,400) / 2 = 8,700 units
arc price elasticity = (-2,600 x $2.75) / ($0.50 x 8,700) = -7,150 / 4,350 = -1.64
