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Monica [59]
3 years ago
6

Which formula should be used to correctly calculate the monthly mortgage payment?

Business
1 answer:
Charra [1.4K]3 years ago
7 0
What’s the question
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When the price of Milk is $5 per gallon consumers demand 1,000 boxes of Boo Berry Cereal. When the price of milk increases to $5
alexandr1967 [171]

Answer: a. 10%

b. -30%

Explanation:

a. What is the percentage change in the price of milk?

Old price = $5.00

New price = $5.50

Percentage change = ($5.50 - $5.00)/$5.00 × 100

= 0.50/5.00 × 100

= 1/10 × 100

= 10%

Percentage change on price = 10%

b. What is the percentage change in the quantity demanded for Boo Berry Cereal?

Old quantity = 1000

New quantity = 700

Percentage change = (700 - 1000)/1000 × 100

= -300/1000 × 100

= -30%

The percentage change in the quantity demanded for Boo Berry Cereal is -30%.

6 0
3 years ago
Which of the following choices is not an example of a common payroll deduction?
Zepler [3.9K]

Answer:

C

Explanation:

3 0
3 years ago
Assume that Jocelyn is comparing two fixed-rate loan options, a 15 year and a 30 year mortgage. Both options have the same inter
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<span>Assume that Jocelyn is comparing two fixed-rate loan options, a 15 year and a 30 year mortgage. Both options have the same interest rate and amount borrowed. The 30 year, when compared to the 15 year loan will have a lower monthly payment and a higher total cost when repayment is completed.

The longer the spread of an annuity payment the lower the monthly payment and the higher the total cost of the loan.
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3 years ago
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During the initial homeowner meeting, the designer ascertains the homeowner’s preferences, financial constraints, and any specia
Liula [17]
The answer is A.) true
8 0
3 years ago
The Regal Cycle Company manufactures three types of bicycles—a dirt bike, a mountain bike, and a racing bike. Data on sales and
Cloud [144]

Answer: (1) From the income statement it is clear that the racing bike cannot meet its fixed cost because it cannot provide a contribution towards meeting the fixed cost (2) it should be discontinued since it cannot provide a contribution towards meeting its fixed cost (3)A Dirk bike has a profit of $26,700, A mountain bike has a profit of $39,600, A racing bike has a loss of ($25,000) Total profit for the product line is $41,300

Explanation:

Income statement

Dirk bike mountain bike. Racing bike. Total

$ $ $ $

Sales. 264,000. 407,000 256,000 927,000

Less :Variablecost 114,000. 200,000 157,000. 471,000

----------- -------------- ------------- ------------

Contribution margin 150,000 207,000 99,000 456,000

Less: Fixed cost

Fixed Advertising. 8,900. 40,300. 20,400 69,600

Depreciation of equipment 20,700 7,300 15,900 43,900

Salary of product line manager 40,900. 38,400 36,500 115,800

Allocated common fixed expenses 52,800 81,400 51,200. 185,400

----------- ------------- ---------- -------------

Total Fixed Expenses 123,300 167,400. 124,000 414,700

Net operating income(loss) 26,700 39,600 (25,000) 41,300

(1) From the income statement it is clear that racing bike cannot meet its fixed cost because it cannot provide contribution towards meeting its fixed cost

(2) it should be discontinued since it cannot provide a contribution towards meeting its fixed cost

(3) A Dirk bike has a profit of $26,700, A mountain bike has a profit of $39,600, A racing bike has a loss of ($25,000) Total profit for the product line is $41,300

7 0
4 years ago
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