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Goryan [66]
3 years ago
15

How does the Federal Funds Rate affect consumers looking to take out a loan?

Business
1 answer:
Artyom0805 [142]3 years ago
6 0

Answer:

The federal funds rate is the rate at which banks borrow money overnight. When the Fed wants to stimulate the economy, it will lower the short-term funds borrowing rate. In response, banks typically lower the interest rates they charge to consumers for a variety of loans.

You might be interested in
The adjusted trial balance for China Tea Company at December 31, 2021, is presented below:
olchik [2.2K]

Answer:

Kindly check attached picture

Explanation:

Given the details below

Accounts Debit Credit

Cash $16,000

Accounts receivable 162,000

Prepaid rent 10,000

Supplies 31,000

Equipment 370,000

Accumulated depreciation $129,000

Accounts payable 11,000

Salaries payable 3,500

Interest payable 1,900

Notes payable (due in two years) 37,000

Common stock 210,000

Retained earnings 176,100

Dividends 27,000

Service revenue 360,000

Salaries expense 150,000

Advertising expense 75,000

Rent expense 18,000

Depreciation expense 32,000

Interest expense 2,500

Utilities expense 35,000

Totals $928,500 $928,500

Prepare an income statement for China Tea Company for the year ended December 31, 2021

Kindly check attached picture

8 0
3 years ago
You are an international shrimp trader. A food producer in the Czech Republic offers to pay you 2.3 million Czech koruna today i
Y_Kistochka [10]

Answer:

$19,002.77

Explanation:

The computation of the value of deal is shown below:

The value of the deal = Sales revenue - purchase cost

where,

Sales revenue is

= 2,300,000 ÷ 25.49 koruna per dollar

= $90,231.46

And, the purchase cost is

= 2,800,000 ÷ 39.31 baht per​ dollar

= $71,228.69

So, the value of the deal is

= $90,231.46 - $71,228.69

= $19,002.77

hence, the value of the deal is $19,002.77

6 0
3 years ago
A customer has requested that Lewelling Corporation fill a special order for 2,100 units of product S47 for $26 a unit. While th
RSB [31]

Answer:

Annual Financial advantage $ 550

Explanation:

<u>Computation of income/loss on special order</u>

Unit product costs

Normal product costs                                                                $ 19.20

Incremental variable costs  $ 1.30 per unit                               <u>$  1.30</u>

Total product costs                                                                     $ 20.50

Revenues per unit                                                                       <u>$ 26.00</u>

Profit per unit                                                                               $   5.50

Sales Units                                                                                    2,100 units

Total incremental profit on order                                               $ 11,550

Less; cost of moulds                                                                    <u>$ 11,000</u>

Incremental profit on S 47 order                                                 $    550                                                  

3 0
3 years ago
Read 2 more answers
Krete is an unmarried taxpayer with income exclusively from wages. By December 31, year 1, Krete's employer has withheld $16,000
storchak [24]

Answer:

The answer is: $0

Explanation:

Krete would have been forced to pay a penalty only if her taxes due after withholdings were over $1,000 . Since she only owed $200 in taxes, she will not receive any penalty for underpayment. But she will still have to pay a penalty for not paying the $200 she owes (this is a separate penalty).

4 0
3 years ago
You and your college roommate eat three packages of Ramen noodles each week. After graduation last month, both of you were hired
inn [45]

Answer:

The answer to this question is b. Yours will be positive and your roommate's would be negative.

Explanation:

Income elasticity of demand is the degree of responsiveness of demand to changes in income. In other words, it measures how changes in income of consumers will affect the quantity of commodities demanded by such consumers.

An income elasticity of demand can be positive or negative.

It is positive, when an increase in income leads to an increase in the quantity demanded by the customer. However it is referred to as negative when an increase in income leads to decrease in the quantity demanded by the consumer.    

In  the question above, it can be seen that the increase in income of the first person brought about increase in the commodity demanded thereby making his income elasticity of demand positive. one the other hand, the increase in the income of his roommate, brought about decrease in his demand which translate to the fact that his income elasticity of demand would be negative.

Hence the answer given.

4 0
3 years ago
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