Most experts believe you should have enough money in your emergency fund to cover at least 3 to 6 months' worth of living expenses.
Answer:
1. <u>implicit cost</u>
2.<u> explicit cost</u>
3. <u>implicit cost</u>
4. <u>explicit cost</u>
Explanation:
Implicit costs refer to those costs that represent opportunity cost. In simple terms they are notional or those which haven't been actually incurred but considered.
Opportunity costs refer to the cost of sacrificed alternatives when an alternative is opted for. For instance, a student pursuing post graduation incurs implicit cost in the form of income foregone had he chosen to work instead for the same duration.
In the given case, the foregone rental income Jacques would've earned had he chosen to rent out his showroom represents opportunity cost or implicit cost.
Similarly, the salary Jacques sacrificed by working in boat business represents implicit cost.
The wages and utility bills that Jacques pays and wholesale cost which he pays represent costs which have actually been incurred, which are termed as explicit costs.
Answer:
Explanation:
This is an Ordinary Annuity question. You can solve this using a financial calculator. I'm using (TI BA II Plus)
N; duration = 20
I/Y ; interest rate per year = 8.5%
PMT ; recurring annual payment = 70,000
FV; Future value = 0 (In solving annuities, use 0 if not given)
then CPT PV = ?
PV = 662,433.563
Therefore, your friend needs to have $662,433.56
Answer:
Moral Rights
Explanation:
Mr. Adams' concerns with privacy and health and safety are key elements in the <u>Moral Rights</u> approach to deciding ethical dilemmas
Answer:
$31.44
Explanation:
The accretion expense each year will be calculated as = Present value of the Asset retirement obligation at the end of the previous year * Discount Rate
Hence, the amount of accretion expense Gunk will record in 2020 related to the asset retirement obligation
= $393 * 8%
= $31.44
