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jeyben [28]
3 years ago
7

Jake takes out a payday loan of $300. In two weeks, he doesn't have the money to repay it in full. What is one way that Jake can

escape the trapping cycle of repayment?
Business
1 answer:
Law Incorporation [45]3 years ago
6 0

Answer:

Explanation:

A Dept Trap or trapping cycle of repayment is a situation in which a borrower is met with high interest rates on the loan that they have taken, and are stuck in a cycle of borrowing more in order to pay back the initial loan. The only way to actually get out of one is to pay back the owed amount in full and as fast as possible. Therefore the best way would be to get an extra job or side hustle to cover the interest and some of the cost, and pay off the loan as fast as possible.

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An investor originally paid $22,000 for a vacant lot twelve years ago. If the investor is able to sell the lot today for $62,000
MArishka [77]

Answer:

b.9%

Explanation:

Formula for annual rate of return formula is as follows;

Annual rate of return = [ (New value/ Initial value)^(1/t) ] -1

t = the total holding period of investment = 12 years

Old value = 22,000

New value = 62,000

Next, plug in the numbers to the formula;

Annual rate of return; r = [ (62,000/22,000) ^(1/12) ] -1

r = [2.8182 ^(1/12)] - 1

r = 1.0902 -1

r = 0.0902 or 9%

4 0
3 years ago
The information below pertains to Basselier, Inc.:
wel

Answer and Explanation:

The journal entry to record the tax provision is given below:

Income tax expenses $48,840,000

Deferred tax assets ($10,900,000 ×0.40) $4,360,000

        To Deferred tax liability (($15,900,000 + $1,900,000)×0.40) $7,120,000

          To Income tax payable ($129,000,000 ×0.40) $51,600,000

(To record income tax expenses)  

Here the income tax expense and deferred tax asset should be debited as it increased the asset and expenses and credited the liability & tax payable as it increased the liability  

4 0
3 years ago
How does having a menu that is uniform around the country provide mcdonald's with economies of scale? how is menu planning made
slega [8]

Yes, a uniform menu allows for centralized planning and distribution without having to many different factories/suppliers.

Menu:

  • If the food menu is consistent, it can be said that economies of scale would be in effect. This is due to the fact that the fixed cost per unit actually gets to decrease, which then leads to a decrease in the average cost of production per unit as the sales volume keeps on increasing, giving the company a cost advantage and resulting in economies of scale. However, when extending to other nations, the menu planning becomes more difficult because local preferences and cultural norms vary widely. For example, beef is not allowed in India, thus the menu must be designed accordingly.
  • McDonald's benefits from economies of scale since customers can place larger orders to reduce the price of their food when there is a standard menu across the nation. The more of a good is produced, the lower the per-unit fixed cost is since these expenses are spread across a larger number of goods, according to Investopedia. Additionally, everywhere you travel in the nation, people are aware of what is on their menu.

Learn more about menu here brainly.com/question/24068570

#SPJ4

6 0
1 year ago
In each diary kept by the owner/engineer's or contractor's personnel, entries should be made: A. to document every working day,
Sav [38]

According to the construction management principle, in each diary kept by the owner/engineer's or contractor's personnel, entries should be made "<u>to document every working day, whether any work is performed or not, or even if you did not go to the project site that day."</u>

<h3>Purpose of Site Diary in Construction Management</h3>

A Site Diary in Construction management is a record book written to document the daily activity of the construction site.

A well-written site dairy is expected to show all the delivered or missing services and materials during the construction projects.

Hence, in this case, it is concluded that the correct answer is option A.

Learn more about Site Diary here: brainly.com/question/1171958

4 0
2 years ago
The law of increasing opportunity cost says that A. wages increase as employment increases B. interest rates rise as inflation i
AleksAgata [21]

Answer:

E. the more of something we produce, the greater is the opportunity cost of producing an additional unit

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

An example to illustrate increasing opportunity cost. Let us assume that Emily can use her leisure time to either rest or make spaghetti. If Emily uses 1 hour to make spaghetti, she forgoes 1 hour that she could have spent resting. If she spends 2 hours making spaghetti, she forgoes two hours of rest. Her opportunity cost keeps increasing the longer she spends making spaghetti.

I hope my answer helps you

3 0
3 years ago
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