Answer: $73,380
Explanation: Joyce closed a condo for $366,900.
Putting down 20% of the condo means she puts down = $366,900 @20%
$366,900 @20%= $73,380
While obtaining 80% loan calculated as $366,900 @ 80%
= $366,900 @ 80% = $293,520
From the above calculations Joyce puts down $73,380
It is to be noted that the demand for sandwiches and ice cream cones consumed after the price of ice cream cones rises to $2 a piece will both reduce (all things being equal).
<h3>Why would the demand for both items reduce?</h3>
The demand for both goods will both come down because they are complementary or joint demand goods.
A pair of goods are termed "joint demand" when both must or usually is consumed with the other.
Recall that (where all things are equal) demand will decrease as price increases.
Learn more about demand at;
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The allowance for doubtful accounts has a normal credit account.
This account is a contra-asset account. Since assets have a normal debit balance, this account would have a normal credit balance.
Answer:
Dollar profit loss = $3
Holding period return = negative 9%
Explanation:
In order to find the dollar profit or loss return we will add the dividend and selling price because that the dividend plus the selling price is the cash that Travis receives or the positive cash and we will subtract the buying price from it because it is the negative cash flow. So we will add all the positive cash flows and subtract negative cash flow from it in order to find the dollar profit loss or return.
Selling price = 27.65
Dividend = 0.85
Selling price + Dividend= 28.5
Selling price = 31.50
Dollar profit loss or return = 28.50-31.5=-3
Loss= $3
In order to find the holding period return we will divide add the dividend and selling price , subtract buying price from it and then divide it by buying price.
(27.65+0.85-31.5)/31.5= -0.09 = -9%
Holding period return = negative 9%
