The process is known as REINSTATEMENT.
A reinstatement is said to occur when a defaulting borrower brings the delinquent loan current in one bulk. It stops a foreclosure and allows the borrower to pay all the money he has been owning. Once the loan has been reinstated, the borrower resumes installment payment of the debt.
Answer:
The correct answer is A
Explanation:
Involuntary switching is the term which is defined as the unwillingness of consumers for switching yet the customers may be prompted for switching because it is inevitable reasons like changing residence or does not involve the person.
So, in this case, the employer changed the insurance plan in which she is not involved, had to switch to another dentist. Therefore, it is an involuntary switching.
Answer:
See below
Explanation:
a. Given that the overhead application rate is $21.40 per direct labor hour and total labor hours used during the period are 8,250 hours
Overhead applied = $21.40 × 8,250
Overhead applied = $176,550
Actual overhead incurred = $172,500
Then, the manufacturing overhead is over applied for the period by $4,050
I.e
= Overhead applied - Actual overhead incurred
= $176,500 - $172,500
= $4,050
b. With regards to the above, if the over applied overhead is closed out to cost of goods sold, it means that the cost of goods sold amount would decrease . The reason is that since cost of goods sold is deducted from revenue to determine gross margin, a reduction in cost of goods sold would bring about an increase in the company's gross margin for the period by $4,050
Answer:
The resources you need to start a business can be broken into five broad categories: financial, human, educational, emotional and physical resources.
Answer:
<em>Max APR=6.34%</em>
Explanation:
<u>Present Value of Payments</u>
If someone borrows an amount PV and will make regular payments of R dollars, then the relation between them is
Where
We know the maximum value for R is $650, thus we can know the minimum value for Fa with:
It means that we need to find the value of i such that (for n=48):
This equation cannot be solved in terms of natural or algebraic functions. We need to find the best possible value of i by any numerical approximate method. Let's start off by setting i=0.01
It's too far away from the required value. Now we adjust to i=0.005
This is a much better value. A final iteration for i=0.00528 gives
This value is close enough to the required answer. Converting it tho APR: