Whatas the question i work at chilis so im a genius at servers answers with the needed things and idk where im going i hate my job and life but like besides the pioint wheres the question
Answer:
Antonio and Replacement of Golf Clubs
a. He should cash the CD and use the proceeds to finance part of the golf clubs.
b. The reason is that he would pay more in in-store financing totaling $37.06 per annum than the net interest he would generate from the CD totaling $23.18 per annum. And Antonio would incur a net loss of $13.88 if the CD was renewed unlike the $5.74 if the CD were not renewed.
Explanation:
Option 1: Renew Certificate of Deposit (CD):
Interest earned = $33.48 ($600 * 5.58%)
Taxes = 10.30 ($33.48 * 30.75%)
Net Income = $23.18
Cost of in-store financing = $37.06 ($710 * 5.22%)
Net Loss(overall) = $13.88 ($37.06 - $23.18)
Option 2:
Sale-off of CD = $600
Net financing required = $110 ($710 - $600)
Cost of financing = $5.74 ($110 * 5.22%)
Answer:
Target dollar sales = $353,333
Explanation:
First we need to find out how much contribution do we need to get a profit of 70,000.
Profit= Contribution - Fixed cost.
70,000=Contribution-36,000
70,000+36,000=106,000
Contribution= 106,000
Now in order to find the sales we will use the formula
Target Sales= Contribution/Contribution margin
Contribution = 106,000
Contribution margin =30%=0.3
Input the values into the formula
106,000/0.3=353,333.333
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