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3 years ago

Explain the role of a good business plan in setting up your business. Why is it an important step

Business

1 answer:

krok68 [10]3 years ago

5 0

Answer:

A business plan is a very important and strategic tool for entrepreneurs. A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives.

Explanation:

It is important to help articulate a strategy for your business. It also provides insight on steps to be taken, resources required for achieving your business goals and a timeline of anticipated results. And help your business prosper and grow.

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You are buying a home for $360,000. If you make a down payment of $60,000 and take out a mortgage on the rest at 8.5% compounded

MatroZZZ [7]

Answer:

$2954.22

Explanation:

We are given a present value of $360000 which needs to be paid in the future for the mortgage of a house therefore we are further told that $60000 of down payment has been made so now we are required to pay $300000 as monthly installments for the next 15 years so this is a present value annuity problem as we will have future regular periodic payments that for a house mortgage so firstly to interpret this information properly we will use the present value annuity to find the monthly payments which the formula is as follows:

Pv = Cx[(1 -(1+i)^-n)/i]

where C is the periodic payment we are looking for.

Pv is the present value for the home which is $300000 as a down payment of $60000 was made.

i is the interest rate which is 8.5%/12 as we are told it is compounded monthly.

n is the number of periods the in which the mortgage payments are made which is 15 years X 12 months =180 payments.

now we will substitute in the above mentioned formula :

$300000 = Cx[(1-(1+8.5%/12)^-180)/(8.5%/12)] now we will divide both sides with what multiplies C in brackets to solve for C

$300000/[(1-(1+8.5%/12)^-180)/(8.5%/12)] = C

$2954.218674 = C now we round off to two decimal places

C= $2954.22 which will be the monthly payment for this mortgage for 15 years every month.

6 0

3 years ago

Nancy is gathering information about different cars in order to decide which car she wants to buy. According to the elaboration

jolli1 [7]

Answer:

c. she is personally motivated to devote time and energy to the information.

Explanation:

central route is when you actively think about and weight information against what you already know; considering arguments carefully.

Nancy will be more likely to process this information through the central route if she is personally motivated to devote time and energy to the information.

8 0

3 years ago

1. Why is it important to be able to write out a check properly ?

krok68 [10]

Answer:

yes is very predominant

Explanation:

because you can find out that you have done mistakes and submit incorrect work,, is very important to check more than twice to make sure you didn't do anything wrong

7 0

3 years ago

Design Thinking is the discipline of developing solutions to create significant

erastovalidia [21]

This is a true statement

3 0

2 years ago

Profiteer ltd reported retained earnings of r100000 and r80000 in therir statement of financial positionn for the years 2011 and

natta225 [31]

The profit-after-tax is R70,000

The profit before tax R100,000

The operating profit is R112,000

What is profit after-tax?

It is the profit before tax deduction of ordinary and preferred dividends, bearing in mind that the profit after-tax is the sum of all dividends paid and the change, increase in retained earnings in this case as well as the share of non-controlling interest in the profits of the company

profit-after-tax=ordinary dividends+ preferred dividends+ increase in retained earnings+ profits to non-controlling interest

ordinary dividends=R30000

preferred dividends=R5000

increase in retained earnings=R100000-R80000

increase in retained earnings=R20,000

profits to non-controlling interest=R15000

profit-after-tax=R30000+R5000+R20,000+R15000

profit-after-tax=R70,000

profit after-tax=profit before tax*(1-tax rate)

tax rate=305

R70,000=profit before tax*(1-30%)

profit before tax=R70,000/(1-30%)

profit before tax=R100,000

profit before tax=operating profit-interest

operating profit=unknown'

interest=R200000*6%

interest=R12,000

R100,000=operating profit-R12,000

operating profit=R100,000+R12,000

operating profit=R112,000

Find out more about profit before tax on:brainly.com/question/25895372

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Full question with all missing parts:

profiteer Ltd reported retained earnings of R100000 and R80000 in their statement of financial position for the years 2011 and 2010 respectively. The firm's only debt capital is in the form of long-term debentures with a face value of R100000 and an annual coupon rate of 6%.The firm reported an ordinary share dividend of R30000, preference share dividend of R5000 and non-controlling interest of R15000 in their 2011 Statement of Comprehensive Income, the effective tax rate amounts to 30%. based on this information, you are required to indicate what the values of the following items were in the 2011 statement of comprehensive income: Operating profit, profit after tax, profit before tax.

3 0

2 years ago