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2 years ago

Why do consumer advocates advise against using alternative financial services?.

1 answer:

7 0

Consumer advocates advise against using alternative financial services because of the high cost that's associated with the loans and other services.

<h3>What is a financial service?</h3>

It should be noted that a financial service simply means a wide range of activities such as banking, insurance and investing.

In this case, consumer advocates advise against using alternative financial services because of the high cost that's associated with the loans and other services.

Learn more about financial services on:

brainly.com/question/1357912

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Suppose that because of a sudden increase in life expectancy, a lot of people decide to save more for what they expect to be a l

DanielleElmas [232]

Answer: d. shift the supply of loanable funds to the right causing the interest rate to fall.

Explanation:

Loanable funds come from the deposits(savings) that people make in financial institutions like banks. If more people were to make deposits, the amount of savings in the system would therefore increase.

To illustrate this increase the supply for loanable funds curve will shift to the right which will cause the interest rates to fall as there is now more supply relative to demand.

4 0

3 years ago

Preparing a Sales Budget Patrick Inc. sells industrial solvents in 5-gallon drums. Patrick expects the following units to be sol

Bess [88]

Answer:

Patrick Inc.

Sales Budget

For the First Quarter

January February March Total Quarter 1

Sale Units 41,000 38,000 50,000 129,000

Average Selling Price per Unit $35.00 $35.00 $35.00

Sales Value $1,435,000 $1,330,000 $1,750,000 $4,515,000

Explanation:

The Sales unit for each month is multiplied by its average sales price for e.g for January (41,000 units × by $35 = $ 1,435,000)

The Quarter totals (Units and sales Values in $) are added up to give the answer under the heading of Total Quarter 1.

The working is also attached with the answer.

Download xlsx

6 0

4 years ago

Roger Fox made deposits of $900 semiannually to Reed Bank at the end of each period, which pays 6% interest compounded semiannua

Molodets [167]

The balance in the account eight years after the last deposit is $24,676.68

What is an ordinary annuity?

Ordinary annuity means a fixed amount that would be paid over a period of time, with payments being made at the end of each period.

Like in this scenario, the $900 would be deposited every six months into the Reed Bank account for 7 years, in essence, our first task is to determine the balance in the account as at the time of last deposit in 7 years using the future value formula of an ordinary annuity as shown below:

FV=annuity payment*(1+r)^N-1/r

annuity payment=$900

r=semiannual interest rate=6%/2=0.03

N=number of semiannual payments in 7 years=7*2=14

FV=$900*(1+0.03)^14-1/0.03

FV=$900*(1.03)^14-1/0.03

FV=$900*(1.51258972485511-1)/0.03

FV=$900*0.51258972485511/0.03

FV=$15,377.69

The balance in the account eight years after the last deposit can be computed using the future value formula of a single cash of $15,377.69

FV=PV*(1+r)^N

PV=balance at the time of last deposit=$15,377.69

r=semiannual interest rate=6%/2=0.03

N=number of semiannual periods in 8 years=8*2=16

FV=$15,377.69*(1+0.03)^16

FV=$24,676.68

Find out more about the future value of an ordinary annuity on:brainly.com/question/5303391

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6 0

2 years ago

Melton Company sold some machinery to Addison Company on January 1, 2014. The cash selling price would have been $947,700. Addis

GREYUIT [131]

Answer:

$79,247

Explanation:

Installment includes the interest and principal as well to be paid on equal proportion. It need to be separated to report in the financial statement. Installment amortization is used to calculate the principal portion and interest portion of each years installment.

Installment Sale Schedule

Year Balance Payment Principal Interest

1 $947,700 $250,000 $155,230 $94,770 ( 947,700 x 10% )

2 $792,470 $250,000 $170,753 $79,247 ( 792,470 x 10% )

Interest of $79,247 should be included in Melton's 2015 income statement.

3 0

3 years ago

Germany did not allow Walmart to sell some items below cost, an example of how a foreign government can constrain _________, whi

Sholpan [36]

Answer: pricing strategy

Explanation:

Pricing strategy refers to method that companies or organizations use in order for them to price their products.

Germany not allowing Walmart to sell some items below cost simply shows an example of how a foreign government can constrain pricing strategy. The reasoning behind this by Germany is to help it's local industries and help prevent it from foreign competition which may end up limiting their growth.

5 0

3 years ago