Answer:
Preservation of value.
Explanation:
Money is a medium of exchange that is generally acceptable for transactional purposes.
As seen in the scenario , money may not necessarily be cash as some other items can be used as a medium of exchange in a trade by barter agreement so far the items has the features of money and acceptable.
However , one thing that could be pointed out in the transaction in the scenario is a loss of value of the purple fabrics before the transaction could take place as a result of sudden arrival of a trade ship that caused a surplus in the fabrics , and at the end , it could not achieve as much as was expected.
Therefore the need for the preservation of value of money is necessary and needed
Answer: Change in lifestyle
Explanation:
The lifestyle of current day mom's is very different from what was obtainable in the past, therefore manufacturers need to adjust their products to suit the new lifestyle of current day mom's. Lifestyle here means the behavior, likes and dislikes of current day mom's.
Answer:
Explanation:
Let x be the amount loaned at 7% and ($19,000 - x) be the amount loaned at 15%
Given:
Interest incurred at 7%, I1 + Interest incurred at 15%, I2 = $2000
Interest, I = amount × rate
I1 = 7/100 × x
I2 = 15/100 × ($19,000 - x)
From the above expressions,
(0.07)x + (0.15) × ($19,000 - x) = $2,000
Solving for x,
0.07x + 2850 - 0.15x = 2000
Collecting like terms,
0.08x = 850
x = $10625
The amount loaned at 7% interest is
$10625
The amount loaned at 15% interest is ($19000 - $10625)
= $8375
The nations selling the gasoline would be in trouble. They would earn less money and the possibility of a depression like the one the US had under Hoover and FDR would occur.
Answer:
The answer is 20.55 days
Explanation:
Solution
Given that:
Annual sales =$627,200
Average accounts receivable =$35,300
Now
The accounts turnover ratio (receivable) = Sales/Average accounts receivable
Accounts receivable turnover ratio = $627,200/$35.300
=17.76 times
Thus
Number of days payment receives = 365/ Accounts receivable turnover ratio =365 days/17.76 times
=20.55 days
Therefore The company takes 20.55 days to get payment for its services
