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ludmilkaskok [199]
3 years ago
15

At www.daveramsey’s Financial Peace University (FPU), Dave recommends Seven Baby Steps. One of these steps is “Pay off debt usin

g the debt snowball.” After graduating from FPU, Courtney Lopez-Munoz is trying to calculate the effective interest rate she is paying for a $1,849 simple discount note at 6% for 17 months. What rate has she been paying?
Business
1 answer:
Nutka1998 [239]3 years ago
8 0

Answer: Effective interest rate : 6.58%.

Explanation:

Simple interest rate = principle × rate × time period

                                 = $1,849 ×  0.06 × \frac{17}{12}

                                 = $157.165

When move out from the bank:

We will be left with(1849 - 157.165) = $1691.835

∴ Effective interest rate = \frac{157.165}{1691.835\times \frac{17}{12} }

                                       = 0.0658

                                       = 6.58%

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Barriers to International Trade Countries often use various government regulations to manipulate the amount of goods and service
lisabon 2012 [21]

Answer: Please refer to Explanation

Explanation:

1. Embargoes and sanctions

When a trade embargo or sanctions are in play, depending on the strength of the nation or International organisation that imposed it, countries are not allowed to trade with the country that is under an embargo. Sometimes the trade embargo can be on all products and sometimes just specific sectors are targeted. An example is the current United States embargo on Venezuela which targets their oil sector and as such most countries are avoiding buying Venezuelan oil.

2. Tariffs

This is a method of reducing the amount of a certain good imported from outside. Tariffs are usually introduced to protect the domestic producers and supplier in an economy and work by taxing imports or placing a customs duty on them. They are usually imposed when the imports are cheaper than domestic Production.

3. Import Quota

Another way to protect the domestic economy. In this scenario, a country allows the import of a certain good only up to an extent for a period which is usually a year. For instance, the United States in this scenario could say that in 2020 only 500 megatons of Aluminum are allowed into the country from China. After that, no more is allowed until 2021.

4. Tariff.

This is a Tariff and as earlier explained, is meant to protect the domestic producers by taxing imports that are cheaper.

5. Import Quota.

This is clearly an import Quota as earlier described because the country is limiting the amount of a certain good that can come into it.

6. Embargoes and Sanctions.

This is a clear example of an embargo. The United States is limiting the amount of goods exported to North Korea because they are under sanctions and embargoes. The United States and Western nations do not want to export anything to North Korea that could aid it's Nuclear Industry so it is a targeted embargo on their nuclear industry.

4 0
3 years ago
What is the point at which supply and demand intersect at a given price?
WINSTONCH [101]
The answer is an equilibrium point. In economics, this relates to the condition of the economic forces in which supplies and demand meet meaning the demand is equal to the supplies of the certain product. It is set by increasing or decreasing the price of a good in response to the movement of the supply and demand in the market. 
8 0
4 years ago
Read 2 more answers
When the Sales Tax feature is enabled in QuickBooks Online, where must you record sales tax payments?
scoray [572]

Answer:

Sales Tax Center

Explanation:

          QuickBooks Online is an online service for accounting software package that is developed as well as marketed by Intuit. Its products are mainly small or medium sized business and other accounting applications and cloud based version which accept management and payment of bills, business payments, payroll functions, etc.

         In QuickBooks, we use the Pay sales tax window to create the sales tax payments. Intuit offers a new and advance version of sales tax feature in QuickBooks Online. We must record the sales tax payments in the sales tax center when the sales tax feature is enable in QuickBooks Online.

7 0
3 years ago
The Retained earnings account has a credit balance of $23,800 before closing entries are made. Of total revenues for the period
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Answer:

The ending balance in the retained earnings account is $31400.

Explanation:

The ending balance in the retained earnings accounts is equal to the opening balance of the retained earnings account plus the addition to the retained earnings for the year.

The addition to retained earnings will be the Net income less dividends.

The net income for the year was = 75200 - 55000 = $20200

Addition to Retained earnings = 20200 - 12600   = $7600

Closing balance of retained earnings = 23800 + 7600  = $31400

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Customer Information Programs (CIPs) use several examples to define a person opening a new account. In which scenario should the
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Answer:

Option (D) is the right answer.

Explanation:

According to the scenario, the most appropriate answer is option ( D) because Stanley smith is a customer of the bank as he has a checking account in the bank.

While the other options are wrong because of the following reasons:

  • Option (A) is incorrect because the company lucky licks Inc. is the customer of the bank, not any person.
  • Option (B) is incorrect because Cara is not the customer of the bank as she only uses the bank's ATM.
  • Option (C) is incorrect because Herman is not the customer of the bank as he only cashes his checks in the bank.
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