Answer:
c) 3.75 years
Explanation:
A fix Payment for a specified period of time is called annuity. The discounting of these payment on a specified rate is known as present value of annuity. The value of the annuity is also determined by the present value of annuity payment.
Formula for Present value of annuity is as follow
PV of annuity = P x [ ( 1- ( 1+ r )^-n ) / r ]
Where
P = Monthly Payment = $200
r = rate of interest = 6.25%
PV = Loan amount = $8,000
As we already have the present value of annuity we need to calculate the rate of return.
$8,000 = $200 x [ ( 1- ( 1+ 6.25%/12 )^-n ) / 0.0625/12 ]
$8,000 / $200 = [ ( 1- ( 1.0052 )^-n ) / 0.0052 ]
40 x 0.0052 = 1- ( 1.0052 )^-n
0.028 = 1 - 1.0052^-n
0.028 - 1 = - 1.0052^-n
-0.792 = - 1.0052^-n
0.792 = 1/1.0052^n
1.0052^n = 1/0.792
1.0052^n = 1.2626
n log 1.0052 = log 1.2626
n = log 1.2626 / log 1.0052
n = 44.96 months
n = 44.96 / 12 = 3.75
Exclusionary rule relates primarily to cases involving issues of search and seizure, arrest interrogations, and stop-and-frisk violations.
This rule, in the United States of America, refers to the fact that if evidence is obtained by means that are unconstitutional (meaning they violate basic human rights), they cannot be used in court as official evidence - it is inadmissible in the court of law given that it goes against the Constitution.
Answer:
The credit card decrease percentage is 71%
Explanation:
To know the percentage of decrease of the card we will make a simple rule of three, which indicates the value we need.
We have that 100% of the card quota is 600, and we want to know how much the percentage decreases when the account has 426 available, we do the following;
100% ---> $600
X -----> $426
100 * 426 = x * 600
= x
71% = X
that is, the decrease in the account when you have $426 available quota is 71%.
Answer:
Issuance of common stock to acquire land is a non-cash investing and financial activity.
Explanation:
Payment of note payable, payment of cash dividend and purchase of inventory on account all involve cash transactions.
Here, the issuance of common stock is a financial activity. Acquiring land can be categorized as an investing activity. To acquire land common stock is issued, cash is not involved.
So, the issuance of common stock to acquire land is non-cash investing and financial activity.
Answer:
Price elasticity of demand for X=-2
Explanation:
The price elasticity of demand is a measure of the sensitivity in quantity of good demanded in relation to a change in price. It is often used to determine whether a good is elastic or inelastic. An elastic good is a good whose demand changes spontaneously with a change in price while an inelastic good is a good whose change in price doesn't affect the quantity demanded. Most inelastic goods are needs while most elastic goods are luxuries. A need is an item that most people cannot do without even if the price changes while a luxury is a good that most people can do without especially if the price of that good increases.
The price elasticity of demand can be determined using the expression below;
Price elasticity of demand=%change in quantity demanded/%change in price
where;
%change in quantity demanded={(Final quantity-initial quantity)initial quantity}×100=-10%
%change in price={(Final price-initial price)/initial price}×100=5%
replacing;
Price elasticity of demand=(-10%/5%)=-2
Price elasticity of demand=-2
