Answer:
Major consumer-protecting laws are:
Explanation:
1. Major federal Act Section 5- This legislation specifies that all firms are required to treat the customer equally and must not be at any disadvantage because of their exploitative treatment.
2. Fair Credit Report Act- This statute guarantees that it is treated equally and safely by all companies handling customer data. It makes sure that no unethical sharing of such information with any 3rd person takes place.
3. Financial Modernization Act - This legislation mandates all commercial banks in the United states to include it in principle how they safeguard and manage customer data securely.
<span>Start with $2,000 in taxes owed subtract $775 for prepayments to get $1,225 in taxes still owed. Subtract another $2,000 for the child tax credit, resulting in a negative liability of $775. This equates a tax refund of $775.</span>
Answer:
Price index number can be defined as a measure of how the price of goods and services change over a specific period of time.
Explanation:
Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services. Thus, it refers to the amount of money a customer or consumer buying goods and services are willing to pay for the goods and services being offered.
Generally, the price a consumer (buyer) would pay for goods and services are primarily being set by the seller or service provider.
In sales and marketing, pricing of products is considered to be an essential element of a business firm's marketing mix because place, promotion and product largely depends on it.
Price index number can be defined as a measure of how the price of goods and services change over a specific period of time.
Hence, it's a statistical value (number) that is typically used for expressing the price change of goods and services as a percentage of prices in a base year.
On a related note, the consumer price index (CPI) is a measure used to analyze and examine the weighted average or aggregate of prices of a basket of goods and services paid for by consumers such as medical, food, and transportation.
Answer:
C. A lump sum of $70,000 today.
Explanation:
C.- Because the if the cash is received today then you will don't have to discounted at all.
The other option puts the 70,00 in the future, so the present value will always be lower than 70,000 today under normal condition.
- Monthly payment = $753.45
- Interest in first month = $85
First remove the amount paid as down payment:
= 20,000 - 3,000
= $17,000
The amount to be paid monthly is a constant amount which would make it an Annuity.
The $17,000 is the present value of this Annuity so the formula for present value of annuity can be used to find the annuity.
The payment is monthly so the rate and number of periods needs to be converted:
Rate = 6%/12 = 0.5%
Period = 2 x 12 = 24 months
Annuity is:
<em>Present value of Annuity = Annuity x ( 1 - (1 + rate) ^- number of periods) / rate </em>
17,000 = A x ( 1 - ( 1 + 0.5%)⁻²⁴) / 0.5%
17,000 = A x 22.5628662
A = 17,000 / 22.5628662
A = $753.45
The interest in the first month is:
<em>= Interest rate x Amount borrowed </em>
= 0.5% x 17,000
= $85
In conclusion, the monthly payments will be $753.45 and the interest in the first month will be $85.
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