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3 years ago

How does Truth In Lending protect consumers when shopping for a loan?

2 answers:

4 0

The Truth in Lending Act requires lenders to disclose the important terms and costs of credit, including the APR, miscellaneous charges, the payment terms, and information about any variable-rate feature. In general, neither the lender nor anyone else may charge a fee until after you have received this information. Use these disclosures to compare the costs of loans. You usually get these disclosures when you receive an application form and you will get additional disclosures before the loan is made. If any term has changed before the loan is made (other than a variable-rate feature), the lender must usually return all fees if you decide not enter into the loan because of the changed term.

Hope this helps.

Ainat [17]3 years ago

3 0

<span>How does Truth In Lending protect consumers when shopping for a loan</span>

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you work with a group of employee's who are in their early 20s. Which of the following methods of communication should you use t

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Please give the options in order for us to determine which is best.

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3 years ago

Perdue Company purchased equipment on October 1 for $55,060. The equipment was expected to have a useful life of three years, or

zhenek [66]

Answer:

$13,300 for each of the four years

Unit of output

$9800

$18900

$16100

$8400

double declining

27530

13765

6882.5

3441.25

Explanation:

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

( $55,060 - $1,860) / 4 = $13,300 each year

Activity method based on hours worked = (hours worked that year / total hours of the machine) x (Cost of asset - Salvage value)

( $55,060 - $1,860) / 7600 = 7

year 1 = 7 x 1400 = 9800

year 2 = 7 x 2700 = $18900

year 3 = 7 x 2300 = $16100

year 4 = 7 x 1200 = $8400

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life) = 2/4 = 0.5

Year 1 = $55,060 x 0.5 = 27530

book value = $55,060 - 27530 = 27530

year 2 = 27530 x 0.5 = 13765

book value = 27530 - 13765 = 13765

year 3 = 13765 x 0.5 = 6882.50

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3 years ago

Which of the following is an example of trade barriers imposed by Japan? Multiple Choice U.S. basTo comprehend why a society thi

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The correct option is E). All of these choices are correct.

<h3>What trade barriers were imposed by Japan?</h3>

Along with the tariff barriers, Japan also have some non-tariff barriers that may impact commercial activity of foreign products into Japan.

Japan prohibited the imports of narcotics, firearms, explosives, and products that violate intellectual property laws.

Japan's tariff system offers lower and duty-free rates to those products which has been imported from developing countries.

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2 years ago

Other variable costs per unit subtracted from total cogs per unit equals ________ per unit. contribution margin operating margin

Anastasy [175]

Other variable costs per unit subtracted from total COGS per unit equals contribution margin per unit.

Variable costs are expenses that vary in relation to production output or sales.

Variable costs play an important role in determining a product's contribution margin, which is used to calculate a company's break-even or target profit level.

Variable costs are a direct input in the calculation of contribution margin, which is the number of proceeds collected after deducting variable costs from sale proceeds.

Every dollar of contribution margin goes directly toward covering fixed costs; once all fixed costs are covered, every dollar of contribution margin goes toward profit.

As a result, variable costs are a necessary item for businesses attempting to determine their break-even point.

Hence, contribution margin per unit is the answer.

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1 year ago

Perrette Motor Company rebuilds automobile engines that have been damaged or are in need of extensive repair. The rebuilt engine

kow [346]

Answer:

Perrette Motor Company

Computation of the cost per equivalent unit for materials and conversion for the month:

1. Material cost per equivalent unit: $1,100

2. Conversion cost per equivalent unit: $1,350

Explanation:

a) Data and Calculations:

Units % of completion Equivalent unit

Materials Conversion Materials Conversion

Beginning WIP 120 50% 50% 60 60

a) Started and

Completed 530 100% 100% 530 530

b) Ending WIP 220 50% 30% 110 66

Equivalent units 640 596

Cost of production:

Materials Conversion

Beginning WIP $68,000 $73,200

Started & completed 636,000 731,400

Total cost $704,000 $804,600

Equivalent units 640 596

Cost per equivalent unit $1,100 $1,350

b) When calculating the equivalent units under the weighted average process costing method, the units beginning work-in-process are not taken into consideration, but the costs are.

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3 years ago