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3 years ago

Compare revolving credit and closed-end credit.

Business

1 answer:

jolli1 [7]3 years ago

5 0

The lender and borrower agree to the amount borrowed, the loan amount, the interest rate and the monthly payment, which depend on the borrower's credit rating.Generally, real estate and auto loans are closed-end credit, but home-equity lines of credit and credit cards are revolving lines of credit or open-end.

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Which is the primary source of revenue for the federal government

soldier1979 [14.2K]

The three main sources of federal tax revenue are individual income taxes, payroll taxes, and corporate income taxes. Other sources of tax revenue include excise taxes, the estate tax, and other taxes and fees.

8 0

3 years ago

Ellen purchased a dishwasher, which cost $315 before the 9. 22% sales tax. She used the machine an average of 10 times per week

antiseptic1488 [7]

Cost is the amount of spending on a product or service. The lifetime cost of the dishwasher was $1029.8 which is $1030 approximately.

Cost is the amount incurred on acquiring a product or using a service. Cost is the value of the product or service.

The lifetime value of an asset is the total expense incurred on the asset from acquisition till disposal.

The lifetime cost of the dishwasher will be the sum of its cost, sales tax, and water and electricity charges for 6 years.

The water and electricity charges are $0.09 and $0.13 per use. The total number of times the dishwasher is used can be calculated as:

The number of use per week are 10, number of weeks in a year are 52, and number of years of use are 6.

$\rm Number\:of\:uses = 10\:times\times 52\:weeks\:\times6\:years\\\\\rm Number\:of\:uses = 3120\:times$

Therefore, the water and electricity charges will be:

$\rm Water\:charges = 3,120 \times \$0.09\\\\\rm Water\:charges = \$280.08\\\\\rm Electricity \:charges = 3,120\times \$0.13\\\\\rm Electricity \:charges = \$405.60$

The cost of the dishwasher will be a combination of its purchase price and sales tax. Therefore:

$\rm Cost\:of\:dishwasher = \$315 + 9.22\%\\\\\rm Cost\:of\:dishwasher = \$344.043$

The lifetime cost of the dishwasher will be:

$\rm Lifetime\:cost\:of\:dishwasher = \$344.043 + \$280.08 +\$405.60\\\\\rm Lifetime\:cost\:of\:dishwasher = \$1029.7\\\\\rm Lifetime\:cost\:of\:dishwasher = \$1030 (approximately)$

Therefore the correct option is A.

Learn more about cost here:

brainly.com/question/4557688

8 0

2 years ago

Beasley Company currently sells its products for $30 per unit. Management is contemplating a 10% increase in the selling price

Ray Of Light [21]

Answer:

Explanation:

Selling price per unit (next year) = 30 + 10 % of 30 = $33

Variable cost per unit (next year) = 30 * 40 % = $12

Contribution per unit (next year) = Selling price per unit (next year) - Variable cost per unit (next year) = 33 - 12 = $21

Fixed expenses = $68,250

Break even point (in units) = Fixed expenses / Contribution per unit.

Break even point (in units) = 68,250 / 21 = $3,250

7 0

3 years ago

Assets Liabilities and Net Worth Reserves $51 Checkable Deposits $140 Loans 109 Stock Shares 130 Securities 100 Property 10 Refe

erastovalidia [21]

Answer:

$9 billion

Explanation:

Calculation to determine what The commercial banking system has excess reserves of

Using this formula

Excess Reserve= Net Worth Reserves -Required reserve

Let plug in the formula

Excess Reserve=$51 billion - (.30*$140 billion)

Excess Reserve=$51 billion-$42 billion

Excess Reserve=$9 billion

Therefore The commercial banking system has excess reserves of $9 billion

5 0

3 years ago

Naumann Corporation produces and sells a single product. Data concerning that product appear below: Per Unit Percent of Sales Se

vova2212 [387]

Answer:

An increase in net operating income of $127,200

Explanation:

Consider the variable effect of the changes.

Sales ($400 x 400) $160,000

Less Variable expenses ( $82 x 400) ($32,800)

Contribution $127,200

therefore,

An increase in net operating income of $127,200

4 0

3 years ago