Answer:
The monthly payment will be $434
Explanation:
Price of New car = $21,900
Price of old car exchanged = $2,350
Cash Payment = $850
Amount of Loan = $21,900 - $2,350 - $850
Amount of Loan = A = $18,700
Rate of interest = r = 6% = 0.06 = 0.005 per month
Number of total periods = 12 x 4 = 48
P = $18500 / { [ ( 1 + 0.005 )^48 ] - 1 } / [ 0.005 ( 1 + 0.005)^48 ]
P = $18500 / [ 0.2704891611 / 0.006352446 ]
P = $18500 / 42.58
P = $434.47
Answer:
Retained earning balance at the end would be = $205,000
Explanation:
Retained earnings at the end = Retained earning at the beginning + Net income - Dividend paid
The net income would increase the balance of the retained earnings hence it is added to it.
The Dividend paid would be a cash outflow which would reduce the balance of the retained earnings, hence it is deducted from it.
So applying this to the question, we have
Retained earning balance at the end would be:
25,000 + 200,000 - 20,000 = $205,000
Retained earning balance at the end would be = $205,000
Answer: An ethical dilemma
Explanation:
An ethical dilemma is a situation where an individual is faced with making a decision between two options where if any option is chosen the individual might act against his/her moral principle. Like in the question, John is faced with the option of either complaining about child labor and then the child losses his/her source of income or allowing things to be as they already are.
ANSWER: There are many ways how entrepreneurs benefit the economy. Few of them are
1) Create Jobs: Entrepreneurs create jobs in the community. When someone opens a new business or expands his new business, he will need human resource to help him to do his works.
2) Wealth Creation: Entrepreneurs pool in their own money and attract investment from lenders, banks and other investors. This mobilizes public wealth.
3) Exports: Entrepreneurs after growing in their businesses will want to export their products as a part of extending their market. This will help gain foreign currency in the country.
Answer:
There are 4 conditions that make a market to be perfectly competitive:
- There must be a large number of buyers and sellers, and each one must be relatively small.
- All the sellers produce identical products or services.
- There are no barriers for entry or exit.
- All the buyers and sellers are price takers, no one can set the price at their own will.
