Should be a balance sheet.
Answer: $11.25
Explanation:
From the above question, The bank charges 1.5 percent per month and uses the average daily balance excluding new purchases method.
The average daily balance for the month excluding the new purchase is $750.
Therefore, the finance charge =
$750 x 1.5%
= $11.25
Answer: Option (B) is correct.
Explanation:
Public saving refers to the tax revenue amount that a government left with after paying for its expenditure or spending.
Public saving = Tax revenue - Spending
Private saving refers to the after tax income of the individuals after paying for their consumption and taxes.
Suppose there is a government budget deficit, in this situation government's expenditure is greater than government's receipts. This means that tax revenue is not enough to pay out its expenditure.
Therefore, this will lead to negative public savings.
Answer:
a. Value to buyers - Amount paid by buyers
Explanation:
Consumer surplus is the area above the price and below the demand curve. It is the difference of value to the buyers and actual amount paid by the buyers.
Answer:
Results are below.
Explanation:
<u>First, we need to calculate the money required at the time of retirement:</u>
FV= 240,000*25= $6,000,000
<u>Now, using the following formula, we can determine the annual investment:</u>
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (6,000,000*0.039) / {[(1.039^17) - 1]
A= $255,373.88
