Imagine you are a manager of an e-commerce company. Your company’s customer service department has just received some similar negative feedback from several customers who complain about your company's supply chain management process. Those customers request your company to respond to their feedback within a day.
How do you analyze this problem and What steps do you need to implement to solve the mentioned problem?
Answers
The company can analyze the problem, address immediate concerns, implement corrective actions, and establish a framework for continuous improvement in the supply chain management process.
To analyze and solve the problem of negative feedback regarding the supply chain management process, as a manager of an e-commerce company, I would take the following steps:
1. Gather information: I would start by collecting detailed information about the specific complaints from the customers. This could include understanding the nature of the supply chain management issues, the impact on the customers, and any specific instances or patterns that have emerged.
2. Analyze the root cause: I would conduct a thorough analysis of the supply chain management process to identify the underlying issues causing the problems. This may involve reviewing internal procedures, communication channels, inventory management, logistics, and coordination with suppliers.
3. Prioritize and address immediate concerns: Given the customers' request for a response within a day, it is crucial to promptly acknowledge their feedback. I would ensure that the customer service department acknowledges their concerns, apologizes for any inconvenience caused, and provides assurance that their feedback is being taken seriously.
4. Communicate internally: I would engage with relevant stakeholders within the company, including the supply chain team, to discuss and address the identified issues. This could involve conducting meetings, sharing customer feedback, and collaborating to develop effective solutions.
5. Implement corrective actions: Based on the root cause analysis, I would develop a plan to address the supply chain management issues. This might involve streamlining processes, improving coordination with suppliers, enhancing inventory management systems, or implementing technology solutions to optimize the supply chain.
6. Monitor and evaluate: After implementing the corrective actions, it is important to monitor the impact and effectiveness of the changes. Regular evaluation and feedback loops with customers and internal teams will help determine if the implemented solutions have resolved the supply chain management problems and met customers' expectations.
7. Continuous improvement: Supply chain management is an ongoing process, and it is crucial to establish mechanisms for continuous improvement. Regularly reviewing and refining the supply chain processes, soliciting customer feedback, and staying updated with industry best practices will help prevent similar issues in the future.
By following these steps, the company can analyze the problem, address immediate concerns, implement corrective actions, and establish a framework for continuous improvement in the supply chain management process. This approach will help improve customer satisfaction, regain trust, and enhance the overall performance of the e-commerce company.
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Related Questions
Which of the following best explains the purpose of a supply schedule?
O A. To demonstrate how the supply decreases as price increases.
B. To calculate how much time it takes for distribution.
C. To show the relationship between quantity supplied and prices.
O D. To indicate how supply and demand relate to price.
Answers
Answer:
C. To show the relationship between quantity supplied and prices.
Explanation:
A supply schedule is a tabular demonstration of the quantity that suppliers will be willing to sell at different prices. It is a table showing the relationship between supply and price.
According to the law of supply, the supply increases as the price goes up. Therefore, the supply schedule is a tabular illustration of the law of supply.
Answer:
it is c
Explanation:
because it does mean To show relationship between quantity supplied
and prices.
Which of the following choices incur speculative risk?
a.stocks
b.fire insurance on a house
c.options
d.life insurance
e.high interest savings account
Answers
Answer: correct option is A.
Explanation: A speculative risk can be defined as risk that is taken willingly either it results in profit or loss and the stocks involve in probability of gain and loss making it a speculative risk.
Stocks incur speculative risk. Therefore option A is correct.
What are Stocks?A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.
Common stock and preferred stock are the two primary categories of stocks.
Owners of common stock are entitled to dividends and the right to vote at shareholder meetings.
Common stockholders often do not have voting rights, while preferred stockholders typically get dividend payments ahead of time and are given preference over common investors in the event of a firm bankruptcy and asset liquidation.
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The publisher of Celebrity Living claims that the mean sales for personality magazines that feature people such as Megan Fox or Jennifer Lawrence are 1.5 million copies per week. A sample of 10 comparable titles shows a mean weekly sales last week of 1.3 million copies with a standard deviation of 0.9 million copies.
Answers
Answer and Explanation:
The computation is shown below:
For determining each part first we have to do the following calculations
Critical value of t = 3.250
Null hypothesis = 1.5
Alternative hypothesis ≠ 1.5
Population mean \(\mu\) = 1.5
Sample mean \(\bar X\)= 1.30
Sample size \(n\) = 10.00
Sample standard deviation \(s\) = 0.900
Standard error of mean is
\(s_x = \frac{s}{\sqrt{n} }\)
\(= \frac{0.900}{\sqrt{10.00}}\)
= 0.2846
Test static is
\(t = \frac{x - \mu}{s_x}\)
\(= \frac{1.30 - 1.5}{0.2846}\)
= -0.703
a. The null hypothesis is
μ = 1.5
Alternate Hypothesis is
μ ≠ 1.5
b. reject \(H_o\) if t is not between
-3.250 and 3.250
c. The value of the test statistic is
t = -0.703
(as we have computed above)
d. fail to reject \(H_o\) as this data does not contradict the publisher claim
Aja receives the following email:
Dear Valued Credit Card Customer,
We have noticed suspicious activity in your account and have placed a security freeze on it. In order to activate it you will need to follow the link below. Please have your card handy and be prepared to verify personal information.
What action should Aja take?
Answers
Answer:
She should not follow the link
Explanation:
Because this is probably not really the credit card company, and they are trying to get personal information out of her.
the alocholic beverages in a private club are
Answers
Answer:
The alcohol beverages in a private club are owned by the members. Further explanation: A private club is referred to as a place to mingle and meet with individuals of similar interests. In a private club, anyone cannot just enter or join.
Explanation:
Plz mark me brainlyest
ow do key details deepen the reader’s understanding of how the Black community worked together?
The excerpt emphasizes that thousands of leaflets were given out.
The excerpt lists the locations where the leaflets were dropped off.
The excerpt shows that many different people helped distribute the leaflets.
The excerpt states that the leaflets were distributed before the evening meeting.
Answers
Answer: Your welcome!
Explanation:
The key details in the excerpt deepen the reader's understanding of how the Black community worked together by showing the collective effort that went into distributing the leaflets. It demonstrates that a large number of leaflets were distributed to many different locations, that a diverse group of people were involved in the effort, and that the leaflets were distributed in advance of the evening meeting. This indicates the level of organization and collaboration within the Black community, as it took a concerted effort to coordinate the distribution of so many leaflets. It also shows the commitment of the community to their cause, as they were willing to put in the time and effort to ensure that their message would be heard.
PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST)
What is the main purpose of government regulations of financial institutions?
A. to influence spending in different industries
B. to protect consumers and their money
C. to create market stability
Answers
Answer:
B.. To protect consumers and their money.
Answer:
To create market stability, C
Explanation:
I asked the same question and this guy told me it was C. Hopefully he was right :'>
Hopefully, this helped. :'>
In what way does a deductible help an insurance company?
Answers
Answer:
deductible help insurance companies share costs with police holders when they make claims
Explanation:
Answer:
It lowers the payout the company has to make.
Explanation:
Most often, a lower deductible means higher monthly payments. If you have a low deductible, you have more coverage from your insurance company and you have to pay less out of pocket in the case of a claim. A higher deductible means a reduced cost in your insurance premium.
Thornton Homes has multiple divisions which operate as separate lines of business and face risks unique to those lines. The firm uses its overall WACC as the discount rate to evaluate all proposed projects. Accordingly, each division within the firm will tend to:
Multiple Choice
receive less project funding if its line of business is riskier than that of the other divisions.
prefer higher risk projects over lower risk projects.
become less risky over time based on the projects that are accepted.
avoid risky projects so it can receive more project funding.
have an equal probability with all the other divisions of receiving funding.
Answers
Each division within Thornton Homes will tend to receive less project funding if its line of business is riskier than that of the other divisions.
If a division's line of business has a higher level of risk than the others, its projects will demand a higher rate of return to compensate for that risk.
Because the overall WACC is used to evaluate all proposed projects, projects in the riskier division will almost certainly have a higher discount rate applied, making them less appealing compared to projects in lower risk divisions.
As a result, the division with the highest risk may obtain less project funding because the initiatives are less appealing and are less likely to satisfy the required return on investment.
Divisions with fewer risks, on the other hand, may receive more funding because their initiatives will be more appealing due to the lower discount rate used.
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Receive less project funding if its line of business is riskier than that of the other divisions.
When a firm uses its overall WACC as the discount rate to evaluate all proposed projects, each division will receive less funding if its line of business is riskier than that of the other divisions. This is because the overall WACC represents the average cost of capital for the entire firm, and if a division's projects are riskier, then they will have a higher cost of capital, making them less attractive to investors. As a result, divisions with riskier lines of business will receive less funding compared to those with less risky lines of business. The use of a single discount rate for all divisions of a firm can lead to a misallocation of resources and can result in some divisions being underfunded while others are overfunded. Therefore, it is important for firms to consider the unique risks and characteristics of each division when evaluating projects and determining the appropriate discount rate to use.
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the standard cost for ______ manufacturing overhead is computed the same way as the standard cost for direct labor.
Answers
The standard cost for variable manufacturing overhead is computed the
same way as the standard cost for direct labor.
This is true as the both of them measure the degree to which a person works in an organization.This is usually measured by dividing the expected
manufacturing variable with the amount of time taken.
This also tells the amount of wages which an individual will receive usually at the end of the week or month.
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45% of americans have less than 1000 saved for a
Answers
Answer: Emergency Fund
Explanation: According to recent data from GO Banking Rates, 69% of Americans have savings, worth less than $1,000. That indicates that they are certainly very far away from having a fully funded emergency fund and that they are taking a very huge financial risk. Even worse, 45% of Americans claim to have no savings. That’s true. Not even a single dollar was saved up in a bank account.
The actual direct labor wage rate is 8.50 and 4,500 direct labor-hours were actually worked during the month. The standard direct labor wage rate is 8.00 and the standard quantity of hours allowed for the actual level of output was 5,000 direct labor-hours. What is the direct labor efficiency variance? a. 4,000 favorable b. 4,000 unfavorable c. 4,500 unfavorable d. 4,500 favorable
Answers
labor efficiency variance $4000 favorable
The formula for the labor efficiency variance is:
=(Actual hours - Standard hours) x Standard rate
=(4500 - 5000) x 8 = $4000 favourable
Variable overhead efficiency variance =
=Standard overhead rate x (Actual hours - Standard hours)
=Standard overhead rate x (4500 - 5000)
The employees might not have obtained written work instructions. blend. the usual assumes a sure mix of employees concerning exclusive talent levels, which does not suit the actual staffing. training.
The labor efficiency variance focuses on the number of exertion hours utilized in manufacturing. it is defined because of the difference between the real range of direct labor hours worked and budgeted direct labor hours that ought to have been labored based totally on the requirements.
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After a presentation is created, there is nothing left to do.
True
False
Answers
Answer:
false
Explanation:
True or false
Is purchasing a new video game a fixed expense?
Answers
Answer:
Examples of fixed costs include rental lease payments, salaries, insurance, property taxes, interest expenses, depreciation, and potentially some utilities
Explanation:
Maybe this will help you.
Which system of accounting permits the use of current fair value to increase the recorded cost of Plant Assets after acquisition? A GAAP only B IFRS only C) Both GAAP & IFRS D) Neither GAAP or IFRS
Answers
**Both GAAP and IFRS permit the use of current fair value to increase the recorded cost of Plant Assets after acquisition.**
Under both GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards), it is possible to revalue plant assets to their current fair value after acquisition. This process is known as **revaluation**. Revaluation involves adjusting the carrying amount of a plant asset to reflect its fair value at a particular point in time.
Revaluation is typically applied to certain types of assets, such as land, buildings, and equipment. When a revaluation occurs, the increase in fair value is recorded as a **revaluation surplus** or **revaluation reserve** on the balance sheet. This allows the plant asset to be reported at its updated value.
It's important to note that revaluation is not mandatory and is typically used at the discretion of the entity. However, when applied, it provides a more accurate representation of the fair value of plant assets and can be useful in situations where there have been significant changes in market values since the acquisition of the assets.
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setting goals before the helper really understands the client may yield
Answers
Setting goals before understanding the client may lead to limited or ineffective outcomes as it lacks a comprehensive understanding of the client's needs, preferences, and motivations.
The process of goal-setting involves aligning the desired outcomes with the client's specific circumstances, aspirations, and capabilities. Without a thorough understanding of the client, the helper may overlook crucial information or make assumptions that result in poorly defined or irrelevant goals.
When setting goals without understanding the client, there is a risk of focusing on superficial or generic objectives that do not address the client's unique needs. This can lead to limited progress or ineffective outcomes, as the goals may not resonate with the client or address the underlying issues they are facing. To avoid this, it is essential for the investment and effort in understanding the client's background, values, preferences, and challenges.
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Setting goals before the helper really understands the client may yield limited or ineffective outcomes.
questions. question numbers (1.1.1 to 1.1.5) in the ANSWER BOOK, e.g. 1.1.10 C 1.1.1 A problem-solving technique where a team of experts are given ques to obtain their opinions without bringing them to the same place. A. Force-field 8. Empty chair C. Brainstorming D. Delphi 1.1.2... is aimed at facilitating change in the business. A. Force-Field technique B. Delphi technique C. Chair technique D. Empty chair technique 1.1.3 The... can be used as a form of non-verbal communication. A. Pie chart B. Informal conversations C. Indigenous knowledge D. Panel discussions 1.1.4. Which one of the following is a research instrument? A. Market research B. Nominal group technique C. Flyer D. Questionnaire 1.1.5.... is one of the of legal requirements that a business must comply with A. National Credit Act B. Size of the business C. Legal protection D. Number of owners required
Answers
The force-field analysis method in social science offers a framework for examining the variables (or "forces") that affect a situation, originally social circumstances. It examines factors that are either promoting movement toward a goal (helping factors) or impeding that advancement (hindering forces).
Hence, Delphi, Force-Field technique, Pie chart, Questionnaire, and Legal protection. These are the answers respectively.
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Write an analysis of how the business is doing and what recommendations you want to make for the future. Write at least one paragraph on each of the following
1. Based on the profit calculations, what changes should you make to your inventory? 2. Ways to increase profit 3. Ways to improve employee productivity 4. Ways to improve cash flow
Use the Internet and other electronic media to provide research to back up your recommendations. Use at least three different references and be sure to cite your sources. Include at least one piece of evidence from each source. List your references at the end of your report.
Answers
Based on the profit calculations, it is recommended to alter the inventory levels to line with consumer demand.
To achieve this, it is important to conduct regular sales analyses to identify the most popular products, slow-moving items, and underperforming products. This data can be used to make informed decisions regarding inventory levels and to adjust product offerings accordingly.
To increase profit, it is recommended to focus on marketing efforts to attract new customers and retain existing ones. This can be achieved by running promotions, setting up a loyalty scheme, and interacting with customers on social media. It is also important to evaluate pricing strategies and ensure that products are priced competitively to maximize sales. Based on the profit calculations, it is recommended to alter the inventory levels to line with consumer demand.
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Aziz is hired as a Nanny even though he doesn't have any experience with it yet. Martina is a Mental Health Counselor who works 40 hours per week. Ethan is a Healthcare Social Worker who is paid the same amount every week no matter how many hours he works. Noa is a Customer Service Representative who gets health insurance from her employer.
Answers
Answer:
its an entry level job
Explanation:
edge 2022
The selection of the type of job that each best example demonstrates is as follows:
1. Aziz is hired as a Nanny even though he doesn't have any experience with it yet is A) Entry-level.
2. Martina is a Mental Health Counselor who works 40 hours per week. This is an example of D) a Full-time job.
3. Ethan is a Healthcare Social Worker who is paid the same amount every week no matter how many hours he works is an example of B) Salaried Job.
4. Noa is a Customer Service Representative who gets health insurance from her employer is an example of C) Job with Benefits.
What are the different types of jobs?The different types of jobs may be classified into four, depending on the job specifications (skills and experience) required.
ThinkersBuildersImproversProducers.Question Completion with Answer Options:Select the type of job best demonstrated in each example.
A) Entry-level
B) Salaried Job
C) Job with Benefits
D) Full-time job
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If nominal GDP was $14 billion, M1 was 2 billion, inflation was 10%, and the federal funds rate was 4%, then the velocity of money would be.
Answers
The velocity of money is calculated by dividing the nominal GDP by the money supply. In this case, with a nominal GDP of $14 billion and M1 of $2 billion, the velocity of money is 7.
The velocity of money can be calculated by dividing the nominal GDP by the money supply. Given that the nominal GDP is $14 billion and M1 is $2 billion, we can determine the velocity of money. The velocity of money is a measure of how quickly money circulates in the economy. It indicates the number of times a unit of currency is used for transactions within a specific time period. To calculate the velocity of money, we divide the nominal GDP by the money supply.
In this case, the nominal GDP is given as $14 billion, and the M1 money supply is $2 billion. To calculate the velocity of money, we use the formula:
Velocity of Money = Nominal GDP / Money Supply
Velocity of Money = $14 billion / $2 billion = 7
Hence, the velocity of money in this scenario would be 7. This means that, on average, each dollar in the money supply is used seven times within a given time period, indicating a relatively high rate of economic activity and transactions.
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How many nickels make 30 cents?.
Answers
A nickel coin is equal to 5 cents. To make 30 cents, we need 6 nickels.
The nickel is the five-cent coin of the United States. Thomas Jefferson, our third president, is depicted on the obverse (heads) of the nickel. Although the current portrait is from 2006, he has been on the cent since 1938.
The United States Mint added a new portrait of Jefferson to the front of the nickel in 2005 to give the currency a more modern appearance. Joe Fitzgerald created the image. The Mint had designed two possible reverse sides of the coin, each with a distinct motif based on "a Westward Journey." One design portrayed the American bison, while the other depicted the Pacific Ocean, the expedition's ultimate aim.
A nickel = 5 cents.
It means that:
2 nickels = 2 x 5 cents = 10 cents
3 nickels = 3 x 5 cents = 15 cents
Therefore, to get 30 cents, we need: 30/5 = 6 nickels.
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an advertising executive compares two television commercials marketing a new brand of paper towels. both commercials provide the same information about the towels, but one depicts a cheerful, happy family having a fun day, and includes a couple of funny jokes, while the other commercial just shows scenes of the towels cleaning up various spills. as the executive predicted, people who watch the cheerful, funny commercial report a more positive attitude toward the paper towels than those who watch the other commercial. this example is most consistent with the theorized process of .
Answers
The above is an example that is most consistent with the theorized process of affect infusion
What is affect infusion?
Affect infusion is the process of incorporating an individual's emotions into their thoughts and behavior. It is a form of emotion regulation in which people try to use their feelings to guide their decision-making and behavior. The idea is that by consciously recognizing and considering emotions before making a decision, people can better understand how their feelings influence their decisions and behavior.
Therefore, Affect infusion is also a cognitive strategy used to regulate behavior, since it allows people to consider their emotions before taking action. People who practice affect infusion are better able to tolerate distress and better able to recognize the different types of emotions they experience.
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There should be no minimum wage in America. Workers should negotiate their pay! Do you agree with this statement? Why or why not?
Answers
Answer:
Minimum wage is important because it dictates the lowest hourly wage that a worker much be given. If it was removed, corporations may be able to give workers lower than what minimum wage would have been. Corporations also may outright refuse to pay the workers what they want leaving them jobless.
Hope that helps
What are reputable sources for an argumentative essay about the free enterprise system?.
Answers
In order to write an argumentative essay about the free enterprise system, it is important to use reputable sources that provide reliable information. Reputable sources can be found in various formats, including books, academic journals, news articles, and government websites.
When researching for an argumentative essay, it is important to keep the following factors in mind : Reliability: The source should be reputable and credible, with reliable information that can be verified. Currency: The information should be up-to-date, with the most recent data and facts available. Authority: The source should be written by an expert in the field, with relevant experience and credentials. Objectivity: The source should be unbiased, presenting both sides of the argument in a fair and balanced way.
Examples of reputable sources for an argumentative essay about the free enterprise system include: The Journal of Private Enterprise, The Heritage Foundation ,The Cato Institute ,The Fraser Institute, The American Enterprise Institute. Additionally, books written by respected authors and news articles from well-respected publications can also provide reliable information for an argumentative essay about the free enterprise system.
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Active management necessarily implies very high portfolio turnover in an attempt to beat the Market Portfolio.
A. TRUE
B. FALSE
Answers
A. TRUE Active management refers to the practice of attempting to outperform the market by actively buying and selling securities in a portfolio. The goal is to generate returns that are higher than the market benchmark.
However, this approach requires high portfolio turnover, meaning that the manager frequently buys and sells securities in an attempt to stay ahead of market trends. As a result, active management typically incurs higher transaction costs and taxes than passive management, which seeks to replicate the returns of the market benchmark with a low-cost, low-turnover portfolio. Therefore, the statement "Active management necessarily implies very high portfolio turnover in an attempt to beat the Market Portfolio" is true.
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4. Use the Internet to find an online job posting. Try searching a site like careerbuilder.com or monster.com. Then complete the items below. a. List the link to the posting. (1.0 point) b. List at least two requirements of the job. Complete sentences are not necessary. (2.0 points) c. List at least three tasks that are a part of the job. Complete sentences are not necessary. (3.0 points) d. Write 1-2 sentences explaining why or why not this job would be a good fit for you (2.0 points)
Answers
Answer and Explanation:
Hello. Brainly does not allow links to be placed in responses, which makes it impossible for me to answer your first question. However, you can find this job vacancy in the careerbuilder when searching for Internet / BDC Director.
Two requirements that this job vacancy requires of possible candidates are: Knowledge of management of social networks and experiences with online sales.
The individual who is interested in this job vacancy, if hired, will have to carry out online and face-to-face sales, perform administrative functions and perform customer service whenever necessary.
This job is not a good option for me, because I have no experience in sales, but this is a very promising job vacancy, with a fair salary and benefits, I believe that if I had the requirements, I would do very well in this type of job.
Answer:
1. https://www.careerbuilder.com/job/J337WK6Y75401Z09WZ9
2. · Ideal to have 1 year experience as a pharmacy technician coordinating activities in an administrative support function.
· Must have valid Pharmacy Technician License
3. Working with patients to explain and educate on medical questions
· Tracking and logging vaccination details into EMR (electronic medical records system)
· Assisting Pharmacist as needed
4. This job would be a good fit for me, because I am compassionate, patient, and pay attention to detail. My mathematical skills are excellent, and like working with a team of health care professionals.
Explanation:
If the price level rose in three consecutive years from 100 to 120 to 140, then the annual inflation rate over those years would
Answers
We see a continuous fall in percentage the annual inflation rate over those years would decrease.
Annual inflation rate over yearsQuestion Parameters:
if the price level rose in three consecutive years from 100 to 120 to 140,
Generally the equation for the is mathematically given as
So, annual inflation rate is
x=[(120-100)/100]*100
x= 20%
In the year 3, price level was 140, hence, the inflation rate
y= [(140-120)/120]*100
y= 16.67%.
Since, we see a continuous fall in percentage the annual inflation rate over those years would decrease.
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During which step of the marketing planning process does a firm engage in segmentation, targeting, and positioning?
Answers
During the marketing planning process, a firm engages in segmentation, targeting, and positioning in the third step called "Market Targeting."
Segmentation involves dividing the market into distinct groups of customers with similar characteristics and needs. This is done based on factors such as demographics, psychographics, behavior, and geographic location. For example, a cosmetic company might segment its market into groups based on age, gender, and lifestyle.
After segmenting the market, the firm then selects the most attractive segments to target. This involves evaluating the potential profitability and fit of each segment with the firm's objectives and capabilities. For instance, a luxury car manufacturer may choose to target affluent individuals who value status and performance.
Once the target market is selected, the firm focuses on positioning its product or service in the minds of the consumers. Positioning involves creating a unique and favorable perception of the brand relative to competitors. This can be achieved through various strategies, such as emphasizing product features, price, quality, or customer service.
Therefore, segmentation, targeting, and positioning are key steps in the marketing planning process. Segmentation helps identify customer groups, targeting allows the firm to select the most suitable segments, and positioning enables the firm to differentiate its offering in the market. These steps are essential for effective marketing strategy and meeting customer needs.
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Terry took out a mortgage loan for $60,000 at an interest rate of 11% for 25 years. If Terry had not had a bankruptcy
on her credit report, her payments could have been $424.07 per month. How much is Terry paying in additional
interest over the life of the loan?
a. $49.200.00
b. $2,272.36
c. $163.00
d. $56,809.00
Answers
Answer: A. 49,200
Explanation: Took test on Edge
Based on the fact that Terry had a bankruptcy, the additional interest she will pay over the life of the loan is a. $49,000
What is the current monthly amount Terry pays?This can be found by the formula:
Loan amount = Amount paid x ( 1 - ( 1 + rate) ^-number of periods) / rate
Rate is: Number of periods
= 11% / 12 months = 25 x 12
= 11/12% = 300 months
Amount is:
60,000 = Amount x ( 1 - ( 1 + 11/12%)⁻³⁰⁰) / 11/12%
60,000 = Amount x 102.029043745
Amount = 60,000 / 102.029043745
= $588.07
What is the additional interest Terry will pay?= (Amount Terry pays now - Amount Terry would have paid) x 300 months
= (588.07 - 424.07) x 300
= $49,200
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What is the difference between a savings account and a checking account? (Select all that apply.)
Savings accounts pay higher interest than checking accounts.
Deposits in savings accounts, not checking accounts, are used by a bank to invest.
Savings accounts have more restrictions than checking accounts.
Savings accounts are covered more by the FDIC than checking accounts.
Answers
A checking account is a bank account you can write checks from, or access several other ways, which tends to make it your go-to, daily transaction bank account. A savings account is where you stash funds that you aren't ready to use yet, often with the goal of accumulating more.