A marketing firm is considering making up to three new hires. Given its specific needs, the management feels that there is a 50%
chance of hiring at least two candidates. There is only a 5% chance that it will not make any hires and a 20% chance that it will make all
three hires.
a. What is the probability that the firm will make at least one hire? (Round your answer to 2 decimal places.)
Probability
b. Find the expected value and the standard deviation of the number of hires. (Round intermediate calculations to at least 4 decimal
places. Round your final answers to 2 decimal places.)
Expected value
Standard deviation
Answers
The probability that the firm will make at least 1 hire is 0.95 and the standard deviation is 0.79
What is the probability that the firm will make at least one hirea. To find the probability that the firm will make at least one hire, we need to find the complement of the probability that it will not make any hires.
P(making at least one hire) = 1 - P(not making any hires)
We know that the probability of not making any hires is 0.05, so:
P(making at least one hire) = 1 - 0.05 = 0.95
Therefore, the probability that the firm will make at least one hire is 0.95.
b. Let X be the number of hires made by the firm. We can create a probability distribution table for X as follows:
Number of Hires (X) | Probability (P(X))
0 | 0.05
1 | 0.25
2 | 0.50
3 | 0.20
To find the expected value of X, we use the formula:
E(X) = Σ(X * P(X))
E(X) = (0 * 0.05) + (1 * 0.25) + (2 * 0.50) + (3 * 0.20)
E(X) = 1.85
Therefore, the expected number of hires is 1.85
To find the standard deviation of X, we use the formula:
σ = √(Σ[X - E(X)]^2 * P(X))
σ = √[((0 - 1.85)^2 * 0.05) + ((1 - 1.85)^2 * 0.25) + ((2 - 1.85)^2 * 0.50) + ((3 - 1.85)^2 * 0.20)]
σ = 0.79
Therefore, the standard deviation of the number of hires is approximately 0.79.
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Related Questions
the us government is trending away from deregulation toward regulated monopolies
Answers
Answer:
oh dear. that sounds intense bro. how's that going?
MC Qu. 90 Sea Company reports the following information... Sea Company reports the following information regarding its production costs: Units produced 46,000units Direct labor$39per unit Direct materials$32per unit Variable overhead$21per unit Fixed overhead$115,000in total Compute the product cost per unit under absorption costing.
Answers
Answer:
Unit product cost= $94.5
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
Unit product cost= direct material + direct labor + total unitary overhead
Total unitary overhead= 115,000 / 46,000= $2.5
Unit product cost= 39 + 32 + 21 + 2.5
Unit product cost= $94.5
A home furniture store, David's Furnishings, lowers its prices below those of
their competitors, Ada's Home Store. A price war then ensues. What must the
response of Ada's Home Store have been in order for the price war to begin?
A. Ada's Home Store started a marketing campaign against David's
Furnishings and their lower quality.
B. Ada's Home Store took David's Furnishings to court in an attempt
to make them raise their prices back up.
C. Ada's Home Store raised prices to show consumers that their
products are better.
O D. Ada's Home Store lowered prices even lower than David's
Furnishings did.
Answers
Answer:
d.
Explanation:
The response of Ada's Home Store has been in order for the price war to begin as Ada's Home Store lowered prices even lower than David's Furnishings did. Thus option D is correct.
What is the Price?A price refers to the amount which takes place between two individuals when performing the exchange of goods and services. This price is determined by the willingness of both parties involved in the exchange.
A price war took place when the competitors lower their prices in order to retain more customers will create conflicts in the market.
In the given case when an organization named David's Furnishings lower its prices with its competitors to begin a price war the competitors also lower their prices in order to capture the market gain effectively.
Therefore, option D is appropriate.
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Purchases transactions
Bowers Company purchased merchandise on account from Saunders Corp. for $9,100, terms 1/10, n/30. Bowers
returned merchandise with an invoice amount of $1,900 and received full credit.
a. If Bowers Company pays the invoice within the discount period, what is the amount of cash required for the
payment? If required, round the answer to the nearest dollar.
Answers
The amount of cash required by The Bowers Company to make the payment for the purchase of the merchandise from Saunders Corp. within the discount period of 10 days is $7,128.
Bowers Company will enjoy a discount of $72 ($7,200 x 1%) because it is able to settle within 10 days from the date of the purchase.The terms of the purchase specified 1% discount if payment is made within 10 days and full settlement within 30 days.Data Analysis and Calculations:
Debit Inventory $9,100 Credit Accounts Payable (Sanders Corp.) $9,100
Trade terms = 1/10, n/30
Debit Accounts Payable (Sanders Corp.) $1,900 Credit Inventory $1,900
Debit Accounts Payable (Sanders Corp.) $7,200 ($9,100 - $1,900) Credit Cash $7,128 ($7,200 - $72) Credit Cash Discounts $72 ($7,200 x 1%)
Thus, the credit period expires after 30 days and the cash required for the payment is $7,128 if the discount window of 10 days is utilized.
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Which of the following represents a potential problem for Kantian deontology?
a.)
Intention doesn't have enough weight.
b.)
People are allowed to be used as objects.
c.)
Different people have to follow different rules.
d.)
Feelings have no place in ethical discussions.
Answers
Answer: D Feelings have no place in ethical discussion
Explanation:
Sophia/Snhu
The correct option is D. Feelings have no place in ethical discussions among the following represents a potential problem for Kantian deontology. A person is just as culpable of murder as someone who succeeds in their attempt. It is done maliciously.
What are the weaknesses of deontology?Consequences can often be disastrous if they are not considered. No room for flexibility; deontology denies the person the chance to think about the context or effects of a choice. We seem to intuitively accept that some rules have justifiable exceptions, for instance, we might need to tell a lie to protect others.
Deontology is an ethical theory that distinguishes between right and wrong using rules. Immanuel Kant, a philosopher, is frequently linked to deontology. Kant held that moral behavior must abide by general moral principles, such as: "Don't lie. Never steal. Do not deceive. A person is just as culpable of murder as someone who succeeds in their attempt.
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what is an example of statistical reasoning?
Answers
Answer/Explanation:
Statistics educators often talk about their desired learning goals for students, and invariably, refer to outcomes such as being statistically literate, thinking statistically, and using good statistical reasoning. Despite the frequent reference to these outcomes and terms, there have been no agreed upon definitions or distinctions. Therefore, the following definitions were proposed by Garfield (2005 and have been elaborated in Garfield and Ben-Zvi (2008).
Statistical literacy is regarded as a key ability expected of citizens in information-laden societies, and is often touted as an expected outcome of schooling and as a necessary component of adults’ numeracy and literacy. Statistical literacy involves understanding and using the basic language and tools of statistics: knowing what basic statistical terms mean, understanding the use of simple statistical symbols, and recognizing and being able to interpret different representations of data (Garfield 1999; Rumsey 2002; Snell 1999)
Why are credit card companies more willing to offer a young person a secured credit card than an unsecured card?
Answers
Answer: I work at a bank and we offer young person a secured card than unsecured card because people tend to steal a young persons card more than a middle aged man or woman, because people think it is just more effortless I guess.
Explanation:
Why does each generic business model require a different set of business-level strategies?
Answers
Hope it helps!:)
Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system.
Date Transactions Units Unit Cost Total Cost
October 1 Beginning inventory 6 $ 790 $ 4,740
October 4 Sale 4
October 10 Purchase 5 800 4,000
October 13 Sale 3
October 20 Purchase 4 810 3,240
October 28 Sale 7
October 30 Purchase 8 820 6,560
$ 18,540
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31
Answers
The cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.
The LIFO method (last-in, first-out) of inventory valuation requires that the most recent purchases of inventory be used first in the cost of products sold and ending inventory calculations. The ending inventory and cost of products sold at the end of October will be calculated using the LIFO method, based on the data given in the table.Based on the data given, the total units sold is 14, and the total units purchased is 17. Here's how to calculate the ending inventory and cost of products sold using the LIFO method:Step 1: The last purchase of 8 units at a cost of $820 each on October 30 is deducted from the inventory count, leaving 9 units.Step 2: The previous purchase of 4 units at a cost of $810 each on October 20 is deducted from the inventory count, leaving 5 units.Step 3: The next purchase of 5 units at a cost of $800 each on October 10 is deducted from the inventory count, leaving 0 units.Step 4: Based on the LIFO method, the cost of the ending inventory is the sum of the cost of the oldest units remaining in stock, which is 4 units at a cost of $790 each on October 1, totaling $3,160.Step 5: Based on the LIFO method, the cost of goods sold (COGS) is calculated by adding the total cost of units sold, which is 14 units at a cost of $820 each on October 30, 4 units at a cost of $810 each on October 20, and 5 units at a cost of $800 each on October 10, totaling $17,260.Therefore, the cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.For more questions on cost of goods sold (COGS)
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g Jana just found out that she is going to receive an end-of-year bonus of $32,200. She is in the 35 percent marginal tax bracket. Calculate her income tax on this bonus. Now assume that instead of receiving a bonus, Jana receives the $32,200 as a long-term capital gain. What will be her tax? Which form of compensation offers Jana the best after-tax return? Would your calculation be different if the gain was short-term rather than long-term? Her income tax on this bonus is $nothing. (Round to the nearest dollar.) Now assume that instead of receiving a bonus, Jana receives the $32,200 as a long-term capital gain. What will be her tax? Which form of compensation offers Jana the best after-tax return? Would your calculation be different if the gain was short-term rather than long-term? (Select the best answer below.) A. Jana will pay $4,830 ($32,200× 15%) in long-term capital gains taxes. Due to the reduced tax rate, the long-term capital gain offers Jana the best after-tax return. Because short-term capital gains are taxed as ordinary income, she will not receive any tax benefit if she receives the bonus as a short-term capital gain.
Answers
Answer:
Jana just found out that she is going to receive an end-of-year bonus of $32,200. She is in the 35 percent marginal tax bracket. Calculate her income tax on this bonus.
tax liability = $32,200 x 35% = $11,270Now assume that instead of receiving a bonus, Jana receives the $32,200 as a long-term capital gain. What will be her tax?
tax liability = $32,200 x 15% = $4,830Which form of compensation offers Jana the best after-tax return?
if the bonus is taxed as a long term capital gain, she will páy less than half the taxes, so it is the best option for herWould your calculation be different if the gain was short-term rather than long-term?
Short term capital gains are taxed at the same rate as ordinary income, so the difference between the bonus being a long vs short term capital gain is very significant to Jana.McBurgers Inc. noticed brown pellets in some areas of
their kitchen. They assume that it is a sign of pest
infestation. What action should they take?
Check all that apply:
Store food away from walls and dispose of trash
regularly.
Change humidity, light, and temperature conditions
in the whole food service area.
Block all entry points to prevent pests from entering
the kitchen or other storage areas.
Sweep the pellets away and clean the floor with
water and a cleaner and apply floor sanitizer.
Submit Answer
Answers
The action that they should take are:
Store food away from walls and dispose of trash regularly.Change humidity, light, and temperature conditions in the whole food service area.Block all entry points to prevent pests from entering the kitchen or other storage areas.Sweep the pellets away and clean the floor with water and a cleaner and apply floor sanitizer.What is pest infestation?Pest Infestation is the state of being invaded or overrun by pests or parasites.
To avoid pest infestation, it is important to keep the house clean.
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On February 3, Easy Repair Service extended an offer of $138,000 for land that had been priced for sale at $158,000. On February 28, Easy Repair Service accepted the seller's counteroffer of $150,000. On October 23, the land was assessed at a value of $225,000 for property tax purposes. On January 15 of the next year, Easy Repair Service was offered $240,000 for the land by a national retail chain. At what value should the land be recorded in Easy Repair Service's records?
Answers
The value that the land should be recorded at in Easy Repair Service's records as a result of the land being priced for sale and being assessed for tax purposes, is the original cost of $150, 000.
What should the land be recorded at?When it comes to recording the value of land, the Cost concept principle applies which is that the land should be recorded at the original cost. This is because land is a fixed asset that does not lose value and might instead increase in value. To avoid confusion, land is then recorded at its original cost.
This original cost is the price that a company or individual acquired the land from the previous owner. In this case, Easy Repair Service accepted a seller offer of $150, 000. This is therefore the value of the land and what the land should be recorded at in Easy Repair Service's records.
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The premium on a three-year insurance policy expiring on December 31, 20x11, was paid in total on January 1, 20x9. The original payment was initially debited to a prepaid asset account. The appropriate journal entry has been recorded on December 31, 20x9. The balance in the prepaid asset account on December 31, 20x9 should be Select one: a. The same as the original payment b. The same as it would have been if the original payment had been debited initially to an expense account c. Higher than if the original payment had been debited initially to an expense account d. Zero Check
Answers
Answer:
b. The same as it would have been if the original payment had been debited initially to an expense account
Explanation:
We can use an example to explain this:
original journal entry to record a 3 year insurance policy on January 1 is:
Dr Prepaid insurance 3,600
Cr Cash 3,600
Adjusting entry on December 31
Dr Insurance expense 1,200
Cr Prepaid insurance 1,200
balance of prepaid insurance = $3,600 - $1,200 = $2,400
If instead of recording prepaid insurance on January 1, you recorded insurance expense:
Dr Insurance expense 3,600
Cr Cash 3,600
Adjusting entry on December 31
Dr Prepaid insurance 2,400
Cr Insurance expense 2,400
balance of prepaid insurance = $2,400
Is there a need to regulate Business Activities?
Answers
You are offered a chance to buy (cash outflow) an asset for $200,000 that is expected to produce cash inflows of $100,000 at the end of Year 1, $77,000 at the end of Year 2, $52,000 at the end of Year 3, and $40,000 at the end of Year 4. What rate of return (IRR) would you earn if you bought this asset?
Answers
Answer:
15.65%
Explanation:
The computation of the internal rate of return is shown below:
Given that
Years Cash outflow/ cash inflow
0 -$200,000
1 $100,000
2 $77,000
3 $52,000
4 $40,000
The formula is
= IRR()
AFter applying the above formula, the internal rate of return is 15.65%
07 PERSONAL FINANCE Managing Investments Ryan and DeeAnne just graduated from Delta Community College. They want to start their Personal Financial Planning. Having taken the BUSN 140 course from world renowned financier - actually only in his own mind - Joseph Lane, Jr., they are 'set to go'. They just inherited $100,000 dollars which they have hidden in the mattress. In addition, they are able to save $500 per month. In the last few chapters we studie about investment planning - a statement -preferable written-that specifies how investment capital will be invested to achieve a specified goal. Ryan and DeeAnne want to provided educational funds for the children in their future as well as buy a home in the next 5 to 7 years. Present them with an investment plan for their consideration.
Answers
Congratulations to Ryan and DeeAnne on their graduation and their inheritance! It's great to see that they are eager to start their personal financial planning. Based on their goals of providing educational funds for their future children and buying a home within the next 5 to 7 years, here is an investment plan that they can consider:
What constitutes their investment plan?1. Set aside an emergency fund: Before investing any money, it's important to set aside an emergency fund that can cover 3 to 6 months of living expenses. This will ensure that they have a financial cushion in case of any unexpected events such as job loss or medical emergencies. Ryan and DeeAnne should keep this emergency fund in a high-yield savings account or a money market account that provides easy access to their funds.
2. Invest for short-term goals: Since Ryan and DeeAnne want to buy a home within the next 5 to 7 years, they should focus on investing in relatively safe, low-risk investments that can provide a steady return. They could consider investing in a mix of bonds, bond funds, and conservative mutual funds. These investments typically provide lower returns than stocks but also come with less risk of loss.
3. Invest for long-term goals: Ryan and DeeAnne should also consider investing for their future children's education. They should invest in stocks, stock mutual funds, or exchange-traded funds (ETFs) that have a history of providing strong long-term returns. These investments carry more risk than bonds, but they also have a higher potential for growth. They should consider opening a 529 college savings plan, which offers tax advantages for educational expenses.
4. Diversify their portfolio: To minimize risk, Ryan and DeeAnne should diversify their investment portfolio across different asset classes, such as stocks, bonds, and real estate. This will help ensure that their portfolio can weather any market fluctuations.
5. Rebalance their portfolio regularly: As their investment goals and needs change, Ryan and DeeAnne should periodically review and rebalance their portfolio to ensure that it remains aligned with their investment plan.
It's important to note that investment planning is a complex process that requires careful consideration of many factors, including risk tolerance, time horizon, and investment goals. It may be helpful for Ryan and DeeAnne to consult with a financial advisor who can help them develop a customized investment plan that takes all of these factors into account.
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Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a $63,000 loan at 8.5% for 24 months. What is his monthly payment by table lookup? (Use Table 14.2)
Note: Round your answer to the nearest cent.
Answers
If he was offered a $63,000 loan at 8.5% for 24 months. His monthly payment by table lookup is : $3071.
What is monthly payment?Monthly payment can be defined as the amount a person received on a monthly basis.
First step is to convert the month to year
Month to year = 24 / 12
Month to year = 2 years
Second step is to find the interest using this formula
I = P × R×T
Where:
I = Interest
P = Principal
R = rate
T = time
Hence
I = 63,000 × 2 × 8.5%
I = 10,710
So,
P+ I = 63,000 + 10,710
P+I = 73,710
Now let find the monthly payment:
Monthly payment = 73,710 / 24 months
Monthly payment = $3,071.25.
Monthly payment = $3,071 (Approximately)
Therefore the monthly payment is the amount of $3071
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Acme Solutions often hires Nicco to train its employees. He is paid $300 for every session. His job also requires him to travel once a month to different branches of Acme Solutions and train employees there. When he is required to travel, the company pays him $450 per session. All training materials have to be provided by Nicco himself. When he is not hired by Acme Solutions, Nicco works for other smaller companies as a trainer. Thus, Nicco is mostly like a(n):
Answers
Answer:
individual contractor for Acme Solutions
Explanation:
In the scenario being described Nicco is most likely an individual contractor for Acme Solutions. This means that he does not technically represent Acme Solutions and is not an official employee of the company. Instead, Acme Solutions hires Nicco on a per-job basis when they need him to fulfill a specific job and/or provide his unique expertise on something. Which is why they require that he provides all the training material since that is the experience that they are hiring him to provide.
Indiana Co. began a construction project in 2021 with a contract price of $162 million to be received when the project is completed in 2023. During 2021, Indiana incurred $40 million of costs and estimates an additional $84 million of costs to complete the project. Indiana recognizes revenue over time and for this project recognizes revenue over time according to the percentage of the project that has been completed.
Suppose that, in 2022, Indiana incurred additional costs of $65 million and estimated an additional $52 million in costs to complete the project. Indiana (Do not round your percentage calculated):
A) Recognized $8.91 million gross profit on the project in 2022.
B) Recognized $11.91 million gross profit on the project in 2022.
C) Recognized $3.00 million loss on the project in 2022.
D) Recognized $8.91 million loss on the project in 2022.
Answers
Answer:
D) Recognized $8.91 million loss on the project in 2022.
Explanation:
The computation is shown below:
For Year 2021:
Percentage of work completed in the year 2021 is
= $40 ÷ ($40 + $84)× 100
= $40 ÷ $124 × 100
= 32.26%
Profit on the contract is
= Contract price - Already incurred cost - Expected cost
= $162 - $40 - $84
= $38
Profit to be recognized in the year 2016 is
= profit × percentage of completion
= $38 × 32.26%
= $12.256
For Year 2022:
Percentage of work completed in the year 2017 is
= ($40 + $65) ÷ ($40 + $65 + $52)
= $105 ÷ $157 × 100
= 66.88%
Profit on the contract is
= Contract price - Already incurred cost - Expected cost
= $162 - $40 - $65 - $52
= $5
Profit that should be recognized till the year 2017 is
= profit × percentage of completion
= $5 × 66.88%
= $3.344
Profit to be recognized in the year 2017 is
= $3.344 - $12.256
= 8.91 million loss
review financial website or publications and three examples of a bond. for each bond gather the following information and complete the table coupon rate selling price maturity date
Answers
Answer:
Company Coupon Rate Selling Price Maturity Date
Bombardier Inc. 7.5% $96.40 3/15/2025
NGL Energy Partners LP 6.875% $97.50 10/15/2021
Disney 2.150% $101.45 9/17/2020
Explanation:
from the Plato
The Coupon Rate, Selling Price and Maturity Date are important terms in a bond contract.
What are the bonds terms?The coupon rate is the yield that determines the amount that an investor is expected to receive, the selling price is the present value of the cash amounts that will received by the bond owner and the maturity date is the date at which the bond will mature for full repayment.
The gathered information from the financial website includes:
Company Coupon Rate Selling Price Maturity Date
Bombardier Inc. 7.5% $96.40 3/15/2025
NGL Energy Partners LP 6.875% $97.50 10/15/2021
Disney 2.150% $101.45 9/17/2020
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sollution for marketing in challenging times
Answers
Answer:
Keep your customers informed.
Reassure your customers.
Explain what you have to offer.
Send special offers via email.
Be personal.
Educate your customers.
Meet virtually.
categories such as education and household size represent which of the following?
a) Culture
b) Demographic
c) Benefit
d) Psychografic
Answers
Search the library and the Internet for information pertaining to the ethical violation made by an organization, past or present, and be sure not to identify the organization. See if this incident has occurred in other organizations; give 2 examples and their outcomes. (OWN WORDS)
Answers
Legitimizations that are Substantial for the Association's Activities Business ethics issues length a great many subjects inside an association's ethical rules. Straightforward moral issues in business include empowering conduct that depends on genuineness and trust, however more complicated issues include obliging variety, humane navigation, consistence, and administration that is reliable with the association's fundamental standards.
Business ethics, typically alluded to as corporate morals, is a subset of applied morals or expert morals that resolves moral or moral issues that might come up in the work environment.
It is critical to the activities of the two individuals and whole organizations and is relevant to all features of business behavior.
People, authoritative declarations, or the overall set of laws all add genuineness to these morals.
These guidelines, goals, moral convictions, and untrustworthy conduct act as an organization' core values.
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The Montgomerys borrowed $107,000 at 7.50% for 30 years to purchase a house. Find the total interest the Montomerys will pay if they pay the loan on schedule. Click the icon to view the monthly payment of principal and interest table. OA. $162,254.80 OB. $149, 158.00 OC. $177,662.80 OD. $168,803.20
Answers
The total interest the Montgomerys will pay if they pay the loan on schedule is approximately $163,072.
To find the total interest the Montgomerys will pay over the course of the loan, we can calculate the monthly payment and then subtract the principal borrowed.
First, we need to calculate the monthly payment using the loan amount, interest rate, and loan term. We can use the formula for calculating the monthly payment on an amortizing loan:
Monthly payment =\(P * r * (1 + r)^n / ((1 + r)^n - 1)\)
Where:
P = Principal amount borrowed = $107,000
r = Monthly interest rate = Annual interest rate / 12 = 7.50% / 12 = 0.625%
n = Total number of payments = 30 years * 12 months/year = 360 months
Plugging in the values, we have:
Monthly payment = $107,000 * 0.00625 * (1 + 0.00625)^360 / ((1 + 0.00625)^360 - 1)
≈ $750.20
The monthly payment of principal and interest is approximately $750.20.
To find the total interest paid, we can multiply the monthly payment by the total number of payments and subtract the principal borrowed:
Total interest paid = (Monthly payment * Total number of payments) - Principal borrowed
= ($750.20 * 360) - $107,000
≈ $270,072 - $107,000
≈ $163,072
Therefore, the total interest the Montgomerys will pay if they pay the loan on schedule is approximately $163,072.
None of the provided answer options match the calculated value. However, based on the calculation, the closest option is OA. $162,254.80.
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what's the advantages of ms word ?
Answers
Answer:
MS WORD IS A MULTI PURPOSE WORD PROCESSOR WHICH HELPS IN CREATING
BROCHURESLETTERSGREETING CARDS etc.please follow me and mark it brainliestWhich of the following is likely to increase the value of a country's currency?
Answers
Higher interest rates in a country can increase the value of that country's currency relative to nations offering lower interest rates. Political and economic stability and the demand for a country's goods and services are also prime factors in currency valuation.
5. What are the effects of geography, time zones, work days, resources, and natural harbors on global business?
Answers
Geography plays a critical role in global business because it affects the location of resources and the ability to move goods and services.
Resources, such as oil and minerals, are located in specific regions, and businesses must determine whether it is economically feasible to transport these resources to other parts of the world.
The time zones have a significant impact on global business as the exchange of goods and services among countries is hindered when there are time zone variations.
Workdays play a vital role in global business. It’s necessary to determine if the customs and traditions of a country will impact business operations.
Natural harbors are significant for businesses that rely on shipping and transportation.
Transportation costs are higher when the distance between supplier and consumer is greater, which affects pricing and availability. Resources, such as oil and minerals, are located in specific regions, and businesses must determine whether it is economically feasible to transport these resources to other parts of the world.The time zones have a significant impact on global business as the exchange of goods and services among countries is hindered when there are time zone variations.
Due to time zone differences, many companies may be closed when it is necessary to make a call or arrange a meeting. Workdays play a vital role in global business. It’s necessary to determine if the customs and traditions of a country will impact business operations. This includes religious holidays, weekends, and other cultural events. Resources are another important factor in global business.
Businesses must assess the available resources in different countries to determine if there are sufficient resources to support their operations. This includes everything from human resources to natural resources.Finally, natural harbors are significant for businesses that rely on shipping and transportation. These businesses must determine whether the available ports in a country are suitable for their needs and whether the infrastructure is in place to support their operations.
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1) Giving examples explain Eight (8) types of leadership styles(10mks)
2) Explain the do’s and don’ts of communication(5mks)
3) Explain the how managers can use motivation theories to motivate employees(10mks)
Answers
Answer:
1) Eight types of leadership styles are:
a) Autocratic Leadership: This style of leadership involves the leader making all the decisions and giving orders to subordinates without getting any input or feedback from them. This style is useful in situations where quick decisions need to be made, but it can lead to resentment and low morale among employees.
b) Democratic Leadership: This style of leadership involves the leader encouraging participation and input from subordinates in decision-making. This style can lead to higher job satisfaction and greater commitment among employees, but it can also lead to slower decision-making and lack of accountability.
c) Laissez-Faire Leadership: This style of leadership involves the leader delegating decision-making and responsibility to subordinates. This style can be useful in situations where employees are highly skilled and motivated, but it can also lead to lack of direction and accountability.
d) Transactional Leadership: This style of leadership involves the leader using rewards and punishments to motivate employees. This style can be effective in achieving short-term goals, but it can also lead to lack of creativity and innovation.
e) Transformational Leadership: This style of leadership involves the leader inspiring and motivating employees to achieve shared goals. This style can lead to high levels of job satisfaction and commitment, but it can also be difficult to implement and maintain.
f) Servant Leadership: This style of leadership involves the leader putting the needs of employees first and serving them. This style can lead to high levels of trust and loyalty among employees, but it can also be difficult to implement and maintain.
g) Charismatic Leadership: This style of leadership involves the leader using their personality and charisma to inspire and motivate employees. This style can be effective in achieving short-term goals, but it can also be risky if the leader becomes too focused on their own goals and needs.
h) Situational Leadership: This style of leadership involves the leader adapting their style to fit the situation and needs of the employees. This style can be effective in achieving a balance between task and relationship-oriented leadership, but it can also be difficult to implement and maintain.
2) The do's and don'ts of communication are:
Do's:
a) Be clear and concise in your communication.
b) Use active listening to understand the other person's perspective.
c) Use appropriate body language and tone of voice to convey your message.
d) Use examples and anecdotes to illustrate your points.
e) Provide feedback and ask for feedback to improve communication.
Don'ts:
a) Interrupt the other person while they are speaking.
b) Use offensive language or tone of voice.
c) Assume that the other person understands your perspective.
d) Make assumptions or judgments about the other person without getting their input.
e) Use distractions or multitasking while communicating.
3) Managers can use motivation theories to motivate employees by:
a) Understanding the needs and goals of the employees.
b) Providing rewards and recognition for good performance.
c) Creating a positive work environment that fosters creativity and innovation.
d) Offering opportunities for growth and development.
e) Encouraging teamwork and collaboration.
f) Providing regular feedback and communication.
g) Setting clear goals and expectations.
h) Providing training and support for employees to achieve their goals.
i) Creating a culture of trust and respect.
j) Encouraging autonomy and responsibility.
Answer:
Explanation:
1) Eight types of leadership styles are:
a) Autocratic Leadership: This style of leadership involves the leader making all the decisions and giving orders to subordinates without getting any input or feedback from them. This style is useful in situations where quick decisions need to be made, but it can lead to resentment and low morale among employees.
b) Democratic Leadership: This style of leadership involves the leader encouraging participation and input from subordinates in decision-making. This style can lead to higher job satisfaction and greater commitment among employees, but it can also lead to slower decision-making and lack of accountability.
c) Laissez-Faire Leadership: This style of leadership involves the leader delegating decision-making and responsibility to subordinates. This style can be useful in situations where employees are highly skilled and motivated, but it can also lead to lack of direction and accountability.
d) Transactional Leadership: This style of leadership involves the leader using rewards and punishments to motivate employees. This style can be effective in achieving short-term goals, but it can also lead to lack of creativity and innovation.
e) Transformational Leadership: This style of leadership involves the leader inspiring and motivating employees to achieve shared goals. This style can lead to high levels of job satisfaction and commitment, but it can also be difficult to implement and maintain.
f) Servant Leadership: This style of leadership involves the leader putting the needs of employees first and serving them. This style can lead to high levels of trust and loyalty among employees, but it can also be difficult to implement and maintain.
g) Charismatic Leadership: This style of leadership involves the leader using their personality and charisma to inspire and motivate employees. This style can be effective in achieving short-term goals, but it can also be risky if the leader becomes too focused on their own goals and needs.
h) Situational Leadership: This style of leadership involves the leader adapting their style to fit the situation and needs of the employees. This style can be effective in achieving a balance between task and relationship-oriented leadership, but it can also be difficult to implement and maintain.
2) The do's and don'ts of communication are:
Do's:
a) Be clear and concise in your communication.
b) Use active listening to understand the other person's perspective.
c) Use appropriate body language and tone of voice to convey your message.
d) Use examples and anecdotes to illustrate your points.
e) Provide feedback and ask for feedback to improve communication.
Don'ts:
a) Interrupt the other person while they are speaking.
b) Use offensive language or tone of voice.
c) Assume that the other person understands your perspective.
d) Make assumptions or judgments about the other person without getting their input.
e) Use distractions or multitasking while communicating.
3) Managers can use motivation theories to motivate employees by:
a) Understanding the needs and goals of the employees.
b) Providing rewards and recognition for good performance.
c) Creating a positive work environment that fosters creativity and innovation.
d) Offering opportunities for growth and development.
e) Encouraging teamwork and collaboration.
f) Providing regular feedback and communication.
g) Setting clear goals and expectations.
h) Providing training and support for employees to achieve their goals.
i) Creating a culture of trust and respect.
j) Encouraging autonomy and responsibility
Burke Company purchases land for $100,000 cash. Burke assumes $2,500 in delinquent property taxes due on the land as part of the purchase. The title and attorney fees totaled $1,000. Burke has the land graded for $2,200. They paid $10,000 for paving of a parking lot. What amount does Burke record as the cost for the land
Answers
Answer: $105700
Explanation:
The amount that'll be paid as the cost of the land will be calculated as:
Land purchase = $100,000
Add: Property tax = $2500
Add: Fees = $1000
Add: Grading = $2200
Total = $105700
Therefore, the amount that'll be paid as the cost of the land will be $105700
Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged $1,000 to a credit card that has a minimum payment each month equal to the interest owed. Can you figure out how much the interest rate is based on this amount?
a. To solve for the interest rate of your credit card, you need to understand which variables in the above formula you have. If your minimum monthly payment is $22 on the $1,000 credit card bill, which variables do you know the values of?
b. Manipulate the formula so it will calculate the interest rate you are paying instead of the amount of money you are paying.
c. Now that you have a formula that will give you the interest rate, plug in the values for the problem and solve for that interest rate. Interest rates are usually represented for a time period: over what time period does this rate apply? What would the interest rate be if it were a yearly rate?
d. Now consider a different situation. Payday loans are a type of loan where you can get money for a future paycheck, typically two weeks in advance. A typical payday loan service might charge $15 for a loan against a paycheck you will receive in two weeks. The interest rate is 10% of the paycheck over that two-week period. Given this information, which variables in the interest formula are known? Develop a formula that will solve for the unknown variable.
e. Solve for the value of the unknown variable.
Answers
a) No person cannot figure out how much the interest rate is based on the amount charged to the credit card unless given other variables.
2. With data on the minimum monthly payment, we can assert our knowledge of the following variables:
The interest amountThe principal amount.3. The interest rate is 2.2% per month.
4. The period that this interest rate can be applied is monthly. In this case, the interest rate is described as the MPR.
5. If the interest rate were a yearly rate, the annual interest rate (APR) would be 26.4%.
6. For the payday loan, the known variables include the interest amount, the interest rate, and the period.
7. A suitable formula to solve for the unknown variable for the payday loan, principal, is P = I / (RT), where I = interest, R = rate, and T = period.
8. The solution to the equation or formula for the value of the unknown variable, Principal, is $3,900.
Minimum monthly payment = interest amount = $22
Credit card bill = $1,000
Rate = interest/$1,000
Rate = $22/$1,000 = 0.022
= 2.2%
MPR = 2.2%
APR = 26.4% (2.2% x 12)
Payday Loans:The service charge for a 2-week loan = $15
Interest rate = 10%
Principal/Payday loan = $3,900 ($15 / (10% x 2/52)
Learn more about interest rates at brainly.com/question/25793394 and https://brainly.com/question/2151013
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