What is installment debt?

A person is planning to open a savings account with the intent to buy a house in 5 years. They will invest an equal amount each

lisov135 [29]

Answer:

The correct answer is C: $4300

Explanation:

Giving the following information:

They will invest an equal amount each month for 5 years.

This account will earn 6% per year(0.5% per month)and will have $300,000 at the end of the 5-year term

We need to use the following formula:

final value= {A[(1+i)^n-1]}/r

A= cuota

i= monthly interest

n= 60 months

Isolating A:

A= (FV*i)/[(1+i)^n-1]

A= (300000*0.005)/[(1.005^60)-1]

A= 1500/0.34885= 4300

3 0

3 years ago

The following data pertain to the Vesuvius Tile Company for July:

ivann1987 [24]

Answer:

The following data pertain to the Vesuvius Tile Company for July:

Work in process, July 1 (in units) .......................................................................................................................20,000

Units started during July ...................................................................................................................................? 45,000

Total units to account for ..................................................................................................................................65,000

Units completed and transferred out during July ................................................................................................? 50,000

Work in process, July 31 (in units) .....................................................................................................................15,000

Total equivalent units: direct material .................................................................................................................65,000

Total equivalent units: conversion ......................................................................................................................?56.000

Work in process, July 1: direct material .............................................................................................................$164,400

Work in process, July 1: conversion ...................................................................................................................?79,800

Costs incurred during July: direct material .........................................................................................................?371,850

Costs incurred during July: conversion ..............................................................................................................659,400

Work in process, July 1: total cost .....................................................................................................................244,200

Total costs incurred during July .........................................................................................................................1,031,250

Total costs to account for ..................................................................................................................................1,275,450

Cost per equivalent unit: direct material .............................................................................................................8.25

Cost per equivalent unit: conversion ..................................................................................................................?13.20

Total cost per equivalent unit ............................................................................................................................21.45

Cost of goods completed and transfered out during July ......................................................................................?1,072,500

Cost remaining in ending work-in-process inventory: direct material ...................................................................?202,950

Cost remaining in ending work-in-process inventory: conversion .........................................................................79,200

Total cost of July 31 work in process .................................................................................................................202,950

3 0

3 years ago

Lump-sum taxes are rarely used in the real world because:_______________

labwork [276]

Answer:

c. lump-sum taxes are often viewed as unfair because they take the same amount of money from both poor and rich.

Explanation:

To understand this question, you have to first understand what lump-sum taxes are.

Lump-sum taxes are a system of taxes where everybody pays the same amount of tax no matter their economic status, or their actions. Basically, lump-sum taxes take the same amount of money from the rich and the poor, hugely increasing the burden on the poor and lessening that of the rich.

As an example, a lump-sum tax of $100 would require everybody to pay $100. To a person earning, say $120, that would be a huge hit, and be a huge burden on his normal life. However, to a rich person who earns, say, $10000, that would be much more easier for the rich person.

Hence, lump-sum taxes are often viewed as unfair because of the unfair advantage the rich have over the poor in tax-paying.

Hope this helped!

4 0

2 years ago

Outdoor Company expects to sell 7 comma 500 units for $ 175 each for a total of $ 1 comma 312 comma 500 in January and 2 comma 5

nikitadnepr [17]

Answer and Explanation:

The preparation is presented below:

Outdoor Company

Inventory, Purchases, and Cost of Goods Sold Budget

Two months Ended January 31 and February 28

Particulars January February March

Sales in units 7,500 units 2,500 units 4,700 units

Sales price $175 $195 $270

Sales in dollars $1,312,500 $487,500 $1,269,000

Percentage of cost of goods sold 60% 60% 60%

Cost of goods sold $787,500 $292,500 $761,400

Add: Desired ending merchandise inventory $185,500 466,840

($292,500 × 60% + $10,000) ($761,400 × 60% + $10,000)

Total merchandise inventory required $973,000 $759,340

Less: Beginning merchandise inventory $482,500 $185,500

($787,500 × 60% + $10,000)

Budgeted purchases $490,500 $573,840

The ending inventory of month of Jan should be beginning inventory of Feb and the same is shown above

6 0

3 years ago

Country A would have an absolute advantage compared to Country B in the production of corn if

viva [34]

Answer:

B) Country A uses fewer resources to produce corn than Country B does.

Explanation:

An absolute advantage is a situation where a country or a company can produce some goods and services using fewer inputs compared to competitors. The company can produce more quantity of using the same amount of inputs than others. A country with an absolute advantage will manufacture a product at a lower cost than other countries or companies.

Absolute advantage enables companies and countries to gain from trade. Through specialization, a company will focus on what it can produce at a lower cost than others, and sell it. Country A has an absolute advantage if it can produce corn at a lower cost than country B.

6 0

3 years ago