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Iteru [2.4K]
3 years ago
10

Bob has a loan that he does not think he can afford and wants to make sure his credit score is not affected. Which of the follow

ing actions would protect Bob's credit score?
A. making at least the minimum payment, even if they are late
B. making less than the minimum payment on time
C. making no payment until he can afford it
D. making at least the minimum payment on time
Business
1 answer:
Simora [160]3 years ago
6 0
A. <span>making at least the minimum payment, even if they are late</span>
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A fall in the price of a product might cause a household to shift its purchasing pattern away from substitutes toward that produ
ad-work [718]

Answer:

The correct answer is: substitution effect.

Explanation:

The price of a product is inversely related to the quantity demanded. This implies that an increase in the price will cause the quantity demanded to decrease and vice versa.  

The consumers always prefer a cheaper substitute. So in case of a price rise of a product, the consumers will move to a  substitute at lower price.  

If there is a fall in the price of the product, the consumers will move away from the substitute to the product.  

This is known as the substitution effect.

4 0
2 years ago
Karl and Leonard want to make trail mix. In order to get the right balance of ingredients for their tastes they bought 2 pounds
sladkih [1.3K]

Answer:

Cost per pound of the trail mix:       $

Raisins 2 pounds @ $3.95 each       = 7.90

Peanuts 3 pounds @ $2.08 each     = 6.24

Chocolate  5 pounds @ $3.25 each = 16.25

Total          10 pounds                            30.39

Cost per pound of the trail mix = $30.39/10 pounds

Cost per pound of the trail mix = $3.039 per pound

Explanation:

In this case, we need to determine the total cost of the trail mix, which is the quantity of each ingredient multiplied by price per ingredient. Then, we will calculate the cost per pound of the trail mix, which is the total cost divided by the total pounds of ingredients.

7 0
2 years ago
Assume that Zambia has a domestic investment of $1500 billion, private domestic savings of $3000 billion, and a government defic
nexus9112 [7]

Answer:

$1,500

Explanation:

Domestic investment = $1500 billion

Private domestic savings = $3000 billion

Government deficit = $2000 billion

Rise in government spending = $1000 billion

Now,

Trade deficit =

Domestic investment - Private domestic saving - Government savings

also,

Total Government deficits = $2,000 + $1000

= $3,000

and,

Government savings = - Government deficits

= - $3,000

Now we know government deficit is 3000 billion and if spending increases further 1000 billion, the government deficit will be 4000 billion

thus,

Trade deficit = $1,500 - $3,000 - (- $3,000)

or

= $1,500

4 0
2 years ago
Laverne purchased a new piece of equipment to be used in its new facility. The $355,000 piece of equipment was purchased with a
Radda [10]

Answer:

Yr. amount Interest payment balance

1. 319,500 22365. (77923). 263,942

2. 263,942.18,476. (77,923). 204,495

3. 204,495 14315. (77923). 140,887

4. 140,887. 9862 (77923). 72,826

5. 72826. 5098. (77,923). 1

Explanation:

The interest charge is on the total amount due at the end of the year which is assumed to have been made available to the debtor, the annual payment is deducted from the addition of interest and principal due and the balance due is brought forward to be defray in subsequent years. The balance is expected to show zero but the balance of one shown is a roundup error.

8 0
3 years ago
Choate International plans to issue $15 million in 10-year bonds. They believe they can afford to pay $1,150,000 in interest to
Luda [366]

Answer:

Correct option is (B)

Explanation:

Given:

Bond issue amount = $15,000,000

Market interest rate = 7.75%

Investors cannot pay interest more than $1,150,000

Choate cannot choose 6.5%, the bond will become less attractive to investors as it indicates that the bond is selling at discount.

If 7.75% interest is given that is the market interest, then interest amount would be $1,162,500 (15,000,000 × 0.0775)

Choate cannot afford to pay more than $1,150,000, so it cannot offer bonds at 7.75% or 8.1%.

The only option left is 7.65%. Interest amount would be $1,147,500 (15,000,000 × 0.0765) which is less than what the company can afford. Also, it is just marginally lesser than market interest rate of 7.75%, so bonds would still be attractive.

Choate should select 7.65%.

3 0
3 years ago
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