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3 years ago

If you don't proactively choose a different repayment plan option, your Federal

Business

1 answer:

Murljashka [212]3 years ago

4 0

Answer:

10 years.

Explanation:

Federal student loans can be defined as a form of financial aid given to college or university students with varying financial means, so as to enable them gain access to higher education.

In the United States of America, the U.S Department of Education is saddled with the responsibility of administering the federal student loans.

Basically, there are four (4) types of federal student loans and these include;

1. Direct unsubsidized loans.

2. Direct subsidized loans.

3. Direct consolidation loans.

4. Direct PLUS loans.

If you don't proactively choose a different repayment plan option, your Federal student loans will default to the Standard Plan, which has a term of 10 years. Thus, the standard repayment plan for a federal student loan is used to divide the amount owed by the student, so he or she can pay the amount in installment for a period of 10 years.

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On January 15, Year 5, Rico Co. declared its annual cash dividend on common stock for the year ended January 31, Year 5. The div

11Alexandr11 [23.1K]

Answer:

January 15, Year 5.

Explanation:

The Rico should decrease retained earnings by the amount of the dividend is declaration date.

The declaration date refers to date the board of directors of a company makes a formal announcement of when the next dividend will be paid. The declaration is therefore also referred to as the announcement date.

On the declaration date, liability account known as dividend payable account is created and credited, while the retained earnings is debited or reduced by the amount of the dividend.

From the question, January 15, Year 5 is the announcement date and it is therefore the date Rico should decrease retained earnings by the amount of the dividend.

3 0

3 years ago

The production department of Priston Company has submitted the following forecast of units to be produced by quarter for the upc

Levart [38]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

1st Quarter - 2nd Quarter - 3rd Quarter - 4th Quarter

Units to be produced: 6,000 - 7,000 - 8,000 - 5,000

the beginning raw materials inventory= 3,600

Each unit requires three pounds of raw material that costs $2.50 per pound. Management desires to end each quarter with a raw materials inventory equal to 20% of the following quarter

I will assume that the requirements are the cost of direct material for each quarter.

<u />

<u>The direct material budget is calculated by the following formula:</u>

Direct material budget= direct material for production + ending inventory - beginning inventory

Q1:

Production= (6,000*3)*$2.5= $45,000

Ending inventory= [(7,000*3)*$2.5]*0.20= $10,500

Beginning inventory= (3,600*2.5)= (9,000)

Total= $46,500

Q2:

Production= (7,000*3)*$2.5= $52,500

Ending inventory= [(8,000*3)*$2.5]*0.20= $12,000

Beginning inventory= (10,500)

Total= $54,000

Q3:

Production= (8,000*3)*$2.5= $60,000

Ending inventory= [(5,000*3)*$2.5]*0.20= $7,500

Beginning inventory= (12,000)

Total= $55,500

8 0

4 years ago

It takes Anne 3 hours to make a pie and 4 hours to make a shirt. It takes Mary 2 hours to make a pie and 5 hours to make a shirt

mina [271]

Answer:

False

Explanation:

An economic agent should specialise in the production of the good for which it has a comparative advantage in its production.

An economic agent has a comparative advantage in production if it produces at a lower opportunity cost when compared with other economic agents.

Anne's opportunity cost in pie production = 4/3=1.33

Anne's opportunity cost in shirt production = 3/4 = 0.75

Mary's opportunity cost in pie production = 5/2 = 2.5

Mary's opportunity cost in shirt production = 2/5 = 0.4

Anne has a comparative advantage in the production of pies and Mary has a comparative advantage in the production of shirts.

Anne should specialise in pie production and Mary should specialise in shirt production.

I hope my answer helps you

5 0

3 years ago

Your parents will retire in 29 years. They currently have $200,000 saved, and they think they will need $2,400,000 at retirement

zhannawk [14.2K]

Answer:

8.95%

Explanation:

Data provided in the question:

Time, n = 29 years

Principle amount = $200,000

Future value = $2,400,000

Now,

Using the compounding formula

Future value = Principle × [ 1 + r ]ⁿ

here,

r is the interest rate

Thus,

$2,400,000 = $200,000 × [ 1 + r ]²⁹

[ 1 + r ]²⁹ = 12

taking the natural log both the sides, we have

29 × ln(1 + r) = ln(12)

ln(1 + r) = 0.08569

1 + r = $e^{0.08569}$

1 + r = 1.0895

r = 0.0895

r = 0.0895 × 100% = 8.95%

3 0

3 years ago

Sherriane Baby Products’ salaries expense was $15.1 million. Required: What is the amount of cash Sherriane paid to employees du

beks73 [17]

Answer:

Summary entry is shown below

Explanation:

The preparation of the summary entry is shown below

Salary expense $15.1 million

To Cash $9.4 million

To Salary payable $5.7 million

(Being the salary expense is recorded)

Simply we debited the salary expense by $15.1 million as the expenses account is debited while on the other hand, the cash is paid for $9.4 million and the salary payable is credited for $5.7 million

6 0

4 years ago