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dybincka [34]
3 years ago
8

It is estimated that the maintenance cost on a new car will be $500 the first year. Each subsequent year, this cost is expected

to increase by $150. How much would you need to set aside when you bought a new car to pay all future maintenance costs if you planned to keep the vehicle for 10 years
Business
1 answer:
Vsevolod [243]3 years ago
7 0

Answer:

$-8,609

Explanation:

Calculation for How much would you need to set aside

Year Cashflows PVF 5% Present values

1 -500 *0.952381 =-476.19

2 -650(500+150) *0.907029 =-589.569

3 -800(650+150) *0.863838 =-691.07

4 -950(800+150) *0.822702 =-781.567

5 -1100(950+150) *0.783526 =-861.879

6 -1250(1100+150) *0.746215 =-932.769

7 -1400(1250+150) *0.710681 =-994.954

8 -1550(1400+150) *0.676839 =-1049.1

9 -1700(1550+150) *0.644609 =-1095.84

10 -1850(1700+150) *0.613913 =-1135.74

PV=Present value $-8,609

Therefore the amount you will need to set aside is $-8,609

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Assuming an upward-sloping as curve, if consumption spending falls while all other levels of expenditure stay the same in an economy that is at full employment, a GDP gap will be visible.

Retail store managers will take activities that result in greater Unemployment when undesirable inventories build up.

<h3>What is GDP?</h3>
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8 0
1 year ago
Suppose that a jewelry store found that when it increased prices by 10 percent, sales revenue increased by 3 percent. Which of t
Anna11 [10]

Answer:

The correct answer is Demand is inelastic, but not perfectly.

Explanation:

Inelastic demand is that demand that is not very sensitive to a change in price. In this way, before a variation in the price the quantity demanded reacts in a less than proportional way. For example, if the price increases by 10% and in response the quantity demanded is reduced by less than 10%, then the demand is said to be inelastic.

The elasticity of demand, also known as the elasticity-price of demand, is defined as the percentage change of the quantity demanded before a percentage change in the price.

4 0
3 years ago
Prepare journal entries for each transaction and identify the financial statement impact of each entry.
madam [21]

Answer:

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Cash (Dr.) $4,500

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Cash (Dr.) $11,200

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Cash (Dr.) $5,900

Accounts Receivable (Cr.) $5,900

Cash (Dr.) $11,000

Notes Payable (Cr.) $11,000

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Adams services may record these transactions as journal entries. The transactions may have some changes after they are recorded then adjusting entries will be prepared to reflect the correct effect of transaction on business activities.

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Search for different leadership across cultures.
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Answer:

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2 years ago
A relatively steep demand curve indicates that a. quantity demanded will not adjust to a price change. b. quantity demanded will
Scilla [17]

Answer:

The correct answer is option b.

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A steep demand curve implies that the demand is relatively inelastic. In other words, a significant change in price will cause a small change in the quantity demanded.  

A flatter demand curve, on the contrary, implies that a small change in price will cause a greater change in quantity demanded. In other words, demand is relatively elastic.  

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A change in demand will be equal to the change in price if demand is unitary elastic.

8 0
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