The advantages are that you don't have to worry about carrying cash, you have a record of your spending, you can make purchases even if you don't actually have the money, some credit cards give you rewards, and most importantly you get to build your credit, provided you pay the bill on time.
Answer:
Here is the full question:
<em>One important way in which banks make economic growth possible is by
:</em>
<em>A) selling savings bonds.
</em>
<em>
B) cashing payroll checks.
</em>
<em>
C) lending money to business startups.
</em>
<em>
D) offering checking and savings accounts</em>
Answer is C).
Explanation:
Bank loans are the most important bank product as loans represent the most profitable segment for the bank. Of course, banks do earn fees and commissions on various transactions and they do offer general personal account maintenance.
However, loans are the primary source of income for all banks, as loans are the bank products that give the bank a monthly interest rate, which is very lucrative in the long run.
Answer:
$7,750
Explanation:
The computation of the net income for the first year is shown below:
but before that following calculations needed
The Cost of production is
= Direct material + Direct labor + Manufacturing overhead
= $11,625 + $11,000 + $10,000
= $32,625
The Unit product cost is
= $32,625 ÷ 7,250 units
= $4.50 per unit
Now
Cost of goods sold = Number of units sold × cost per unit
= 4,500 units × $4.50
= $20,250
And, finally
Net Income = Sales revenue - COGS - general, selling, and administrative expenses
= (4,500 units × $7) - $20,250 - $3,500
= $7,750
Answer:
In equilibrium the maximum price set for a broken laptop to be sold is $600
Explanation:
According to the given data we have the following:
It is given that 40% laptops are in good condition. This implies that 60% are in bad condition.
In ordert to calculate the maximum price set for a broken laptop to be sold we would have to calculate the expected price that the buyers will be willing to pay for a laptop as follows:
Expected price=0.60($2000)+0.40($600)
Expected price=$1,200+$240
Expected price=$1,440
As the owners of good laptops are willing to sell their laptops for $1,800, whis is more that $1,440, they will not sell their products.
This implies that only bad laptops are sold in the market. The willingless to pay for the bad laptops is $600
Therefore, In equilibrium the maximum price set for a broken laptop to be sold is $600
