Answer:
The income elasticy of demand for steak is 0.5
Explanation:
The income elasticity of demand formula is:
IED = Δ%Q / Δ%Y
Where:
- Δ%Q is change in quantity demanded
- Δ%Y is change in income
So for this case:
IED = 2%/4%
= 2/4
= 0.5
The correct statement will be that the monthly lease payments that Ralph will have to make to lease such a car will be $362.17. So, the correct option that matches the statement is not quoted above.
The calculation of monthly lease payment can be done by deduction of residual value and dividing such value by number of months.
<h3>
Calculation of monthly lease payments</h3>
- The residual value can be calculated by using the formula by applying the given information,
- So, depreciation of the car after three years will be $8960.
- Interest payment per month will be calculated as,
- And the payment towards actual lease would be,
- So, total monthly payment towards leasing such car will be,
Hence, the correct statement is that the monthly payment towards the lease of car by Ralph will be $362.17 and none of the options given is correct.
Learn more about <u>Monthly Lease </u>here:
brainly.com/question/1856464
The Food and Drug Administration has
not permitted “Gamma-hydroxybutyrate” for manufacture or transaction of this product
in the United States. Gamma-hydroxybutyrate as you would expect is an occurring
neurotransmitter and a psychoactive medication. It has different known street
names, such as GHB, or commonly G, Georgia Homeboy and Liquid E are the most
common street names for this illegal medication.
Answer:
D; $2.44
Explanation:
In this question, we are asked to calculate expected year-end dividend D1 for a particular stock.
Mathematically,
Current stock price = Expected year end dividend/(Required return rate - growth rate)
Using the information in the question, we identify the following;
Current stock price = $57.50
Expected year end dividend = ?
Required return rate = 10.25%(0.1025)
Growth rate = 6%(0.06)
We can rewrite the equation as ;
Expected year end dividend = Current stock price * (Required return rate - Growth rate)
= 57.5 * (0.1025 - 0.06) = 57.5 * 0.0425 = $2.44375
Hence, the expected year-end dividend D1 = $2.44