1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vichka [17]
3 years ago
12

Jason just joined a new gym and signed up for a one-year membership. Membership fees can be paid in 12 monthly payments of $50,

due at the beginning of each month or in one payment today. If the appropriate interest rate is 11%,.How much should he pay today for the annual membership?

Business
1 answer:
bixtya [17]3 years ago
4 0

Answer:

$570.91

Explanation:

For computing, the amount pay today for the annual membership we just need to apply the present value formula i.e to be shown in the attachment

Provided that

Future value = $0

Rate of interest = 11% ÷ 12 months  = 0.916666%

NPER = 12 months

PMT = $50

The formula is shown below:

= PV(Rate;NPER;PMT;FV;type)

So, after applying the above formula, the amount paid today for the membership is $570.91

You might be interested in
Greta has liability and collision insurance, but no comprehensive insurance on her 2009 Honda Accord. One night, it is stolen fr
Iteru [2.4K]
Liability because she didn't have the vehicle in a collision...
6 0
3 years ago
Read 2 more answers
When the price of hot dogs is $1.50 each, 500 hot dogs are sold every day. After the price falls to $1.35 each, 510 hot dogs are
Mkey [24]

Answer:

The correct answer is -0.2.

Explanation:

According to the scenario, the given data are as follows:

When rate = $1.50

Hot dogs sold at $1.50 = 500 units

And When rate = $1.35

Hot dogs sold at $1.35 = 510 units

So, we can calculate the price elasticity by using following formula:

Price elasticity = (%change in quantity ) ÷ ( %change in price )

Where, %change in quantity = (( 510 - 500 ) × 100) ÷ 500

=  1,000 ÷ 500

= 2

and %change in price = ((1.35 - 1.50 ) × 100) ÷ 1.50

= (-10)

So, by putting the value:

Price elasticity = 2 ÷ (-10)

= -0.2

Hence, the price elasticity of demand for hot dogs is -0.2.

8 0
3 years ago
The Federal Reserve ________ pay interest on reserves held on deposit. The European System of Central Banks ________ pay interes
aliina [53]

The Federal Reserve does not pay interest on reserves held on deposit. The European System of Central Banks does pay interest on reserves held on deposit.

<h3>Federal Reserve Board</h3>
  • In the past, reserve banks were unable to offer interest on deposits. The Emergency Economic Stabilization Act of 2008 brought about a shift in that.
  • The Federal Reserve Board had to increase the size of its balance sheet by purchasing Treasuries and mortgage-backed securities in order to increase the amount of liquidity available to the banking sector.

<h3> European System of Central Banks</h3>
  • The major objective is to preserve price stability or the euro's worth. Price stability is the most significant contribution monetary policy can make in this area because it is crucial for economic growth and job creation, two goals of the European Union.
  • The ECB has four decision-making bodies with the authority to carry out the institution's goals.

To learn more about Federal reserve Board refer to:

brainly.com/question/13084954

#SPJ4

5 0
2 years ago
Perion Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direc
Yuliya22 [10]

Answer:

$4,280 under applied

Explanation:

Given that;

Estimated direct labor hours = 11,200

Estimated manufacturing overhead = $259,840

Estimated rate per hour = $259,840 ÷ 11,200 = $23.2

Actual labor hours = 10,800

Estimated overhead for actual hours

= 10,800 × $23.2

= $250,560

Actual overheads incurred = $254,840

Hence, actual overheads are under absorbed by

= $254,840 - $250,560

= $4,280

4 0
2 years ago
TRUE or FALSE. There are two means for achieving financial goals—you either need to increase your savings or reduce spending.
quester [9]
As the basis for everything about finnancial issues, the statement above is TRUE. These means are the basis to achieve your goals to save money and keep your budget safe. Hope this is good for you
3 0
3 years ago
Read 2 more answers
Other questions:
  • On a particular​ date, FedEx has a stock price of $ 88.55 and an EPS of $ 6.89. Its​ competitor, UPS, had an EPS of $ 0.42. What
    14·1 answer
  • The last time an attorney addresses a jury is during the
    11·2 answers
  • Resource markets are LEAST LIKELY to sell
    8·2 answers
  • Tropical Inc. has reported ROE of 0.07 and a dividend payout ratio of 0.6. Its expected earnings for the next year is $2.7 per s
    12·2 answers
  • Assigning manufacturing overhead to a specific job is complicated by all of the below except:a. Manufacturing overhead is an ind
    7·1 answer
  • Suppose the price of a cup of coffee is $5, and at this price, the quantity supplied is 300 cups of coffee. Now suppose the pric
    8·1 answer
  • Vibrant Company had $980,000 of sales in each of three consecutive years 2016–2018, and it purchased merchandise costing $540,00
    7·1 answer
  • The cargo ship felicity ace sank in the north atlantic, taking $400 million worth of what with it?.
    5·1 answer
  • One guideline for improving the effectiveness of initial (screening) interviews is to ____.
    13·1 answer
  • List the five elements of a firm's macroenvironment, and illustrate how each element affects the firm.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!