Answer:
An aspiration referral group
Explanation:
As he cannot join the group today, due to shortage of funds, he will join the group later, and accordingly, he expects it to be his aspiration to join the group.
That means it is his wish to join the group, this reflects clearly that the group is an aspirational referral group.
As all the partner's of his business are also members of the group he shall be expecting them to put a referral.
Therefore, the group will be considered as the aspiration referral group.
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
A) You want $1,000,000 when you retire in 40 years. It earns 6 percent annually.
We need to use the following version of the final value formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
FV= 1,000,000
n=40
i=0.06
A= (1,000,000*0.06) / [(1.06^40)-1]
A= $6,461.53
B) You decided to contribute $500 a month into a fund that is expected to earn 6 percent, compounded monthly. If you start the contribution a month from today for 30 years.
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
n= 30*12= 360
i= 0.06/12= 0.005
A= 500
FV= {500*[(1.005^360)-1]}/0.005= $502,257.52
Answer: Balloon Loan
A balloon loan is a type of loan where the final payment is usually much larger than the payment preceding it.
In a balloon loan, the entire loan amount is given to the borrower as soon as the loan is approved and the contract is signed.
The interest falls due and is paid during the life of the loan.
The principal however, is paid as a balloon payment on the final day of the life of the loan.
Answer:
2,000 loss on redemption
Explanation:
the company will recognzie considering the current value of the bonds, thus the carrying value:
as the face value is lower than carrying value there is a discoutn for the difference: 104,000 - 98,000 = 6,000
When we compare the cash outlay with the carrying value we sovle for the redemption result:
98,000 bonds are paid at 100,000 therefore 2,000 loss
bonds payable 104,000 debit
loss on redemption 2,000 debit
discount on BP 6,000 credit
cash 100,000 credit
If supply decreases and demand remains stable, the price mechanically moves up since richer people are ready to pay more to get gasoline.
Of course companies selling gasoline want to maximize their profit so they will increase the price.
Right answer is A.
