P2P payment apps are popular in the U.S. because they make the exchange of money easy. Nearly half (46%) of smartphone owners say they regularly use peer-to-peer payment apps. These apps offer convenience and flexibility when it comes to making payments.
Answer: The correct answer is <u>$150.</u>
Explanation:
We know that the marginal cost of hiring a third worker is $ 40. And that the average total cost when 3 workers are hired is $ 50. The average total cost formula is:
Average total cost = (total cost) ÷ (number of workers)
Then we solve the equation in 3 steps:
1) $ 50 = X ÷ 3
2) $ 50 × 3 = X
3) $ 150 = X
We can diagram the workers cost chart
Number of workers - Marginal cost - Total cost
1 - $60 - $60
2 - $50 - $110
3 - $40 - $150
Answer:
Option C) Medoc Company's Break Even Point is 34,100 Units
Explanation:
Break Even point is defined as the level of activity or production at which the company's Total Sales Revenue is equal to its total expenses. In other words, Break Even Point is No Profit, No Loss Point.
Break Even Point in Units = Total Fixed Costs ÷ Contribution Per Unit
where:
Contribution per unit = Selling Price per unit - Variable Costs per Unit
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<u>Calculations:</u>
Contribution per Unit = $6.30 - $4.55 = $1.75
Break Even Point in Units = $59,675 ÷ $1.75
Break Even Point in Units = 34,100 Units
Answer:
Tony will pay interest of $6.50 as part of the first loan payment.
Explanation:
Amount of Loan = $1300
Annual Interest = 6%
Monthly interest rate = 6% / 12 = 0.5%
Monthly Loan Payment = $57.62
Monthly installment is compromised of the interest payment on the due balance and the principal payment.
Interest payment in first installment = $1300 x 0.5%
Interest payment in first installment = $6.50
Principal portion of first installment = $57.62 - $6.50
Principal portion of first installment = $51.12
Answer: $315
Explanation:
The following information can be gotten from the question:
Amount = $9000
Rate = 14%
The receivable was held from October to December. This means it was shelf for 3 months.
Therefore, the accrued interest revenue will be:
= $9000 × 14% × (3/12)
= $9000 × (14/100) × (1/4)
= $9000 × 0.14 × 0.25
= $315
The accrued interest is $315
