The total amount of interest paid by Niki is $39,695.48.
The loan is termed as the amount that is borrowed by the lender and is paid off back at some defined amount of interest.
Computation of amount of interest to be paid by Niki:
The given information is:
P is the periodic payment.
PV = $61,600
r = 0.0984
t = 6
n = 11 years
\(\begin{aligned}PV = \frac{P(1 - (1 +\frac{r}{t}^{nt}))}{\frac{r}{t}}\end{aligned}\)
\(\begin{aligned}61600 =\frac{P(1 - (1 +\frac{0.0984}{6}^{11\times6})}{\frac{0.0984}{6}}\end{aligned}\)
\(\begin{aligned}61600 =\frac{P(1 - (1 + 0.0164)^{66} )}{ 0.0164}\end{aligned}\)
\(61600\times0.0164 = P(1 - (1.0164)^{66} )\)
\(\begin{aligned}1010.24&=p\times(1-0.341769)\\1010.24&=0.658321\times p\\p&=\frac{1010.24}{0.658321}\\p&=1534.78\end{aligned}\)
Niki pays $1534.78 every two months continuously for eleven years.
\(\begin{aligned}\text{The total payment made by Niki} &= \text{Tenure Period} \times 6 \times \text{Amount of interest}\\\text{The total payment made by Niki}&=11\times6\times\$1534.78\\\text{The total payment made by Niki}&= \$101295.48\end{aligned}\)
\(\text{Interest paid} = \text{Total Payment} - PV\\\text{Interest paid} = 101295.48-61600\\\text{Interest paid} =\$39,695.48\)
Therefore, the correct option is A.
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Bakery has bought 250 pounds of muffin dough. They want to make waffles or muffins in half-dozen packs out of it. Half a dozen of muffins requires 1 lb of dough and a pack of waffles uses 3/4 lb of dough. It take bakers 6 minutes to make a half-dozen of waffles and 3 minutes to make a half-dozen of muffins. Their profit will be $1.50 on each pack of waffles and $2.00 on each pack of muffins. How many of each should they make to maximize profit, if they have just 20 hours to do everything?
Answer and Explanation:
The number of packets of waffles is W
and the number of muffins are M
The weight of dough is 250 pound and a pack of muffins requires 1 lb of dough whereas a pack of waffles uses 3/4 lb of dough.
3÷4W+M≤250
Multiplying both sides by 4
3W+4M≤1000
It takes bakers 6 minutes to make a packer of waffles and 3 minutes to make a pack of muffins, the total time available is 20 hours or 1200 minutes.
3M+6M≤1200
Minus the initial equation from the new equation:
(3M+6M≤1200)−(3W+4M≤1000)
2M≤200
Dividing equation by 2
M≤100
For M≤100
3W+4M≤1000
3W≤1000−4M
For the Maximum values of M
the least value of W is obtained
3W≥1000−4×100
3W≥600
Dividing the equation by 3
W≥300
For maximum profit, the number of waffles and muffins is taken as 300 and 100 respectively :
1.5∗300+2∗100
=650
What is the structure of Public corporation
Public corporate structures are managed by a board of directors. The members of the board are from all walks of industry and commerce. The chairmen of these corporations are appointed by the government. The entire capital is financed by the government.
The personal needs, the culture, and the family of an individual influence his or her ethical choices.
Answer:
True
Explanation:
Ethical choices of an individua are an outcome of the social, cultural and regional exposure of the individual. Some part of the behavior and thoughts of an individual are sharped according of the ethnicity and culture. The values are enhanced and they are formed as a result of the choices made by the individual and the community. The result of the behavior, attitudes, choices and preferences of the individua are the outcome of the values formed by the person. Ethical choices are made upon the level of ethnic intensity.
your research group conducted a bi-variate correlation analysis in spss using our auto concepts study and the results are attached to this question. based on this correlation analysis examining these lifestyles and the desirability for the 5 seat economy gasoline automobile, which lifestyle(s) possess a strong or very strong relationship to the desirability of this vehicle and therefore would be the best segment to market this vehicle? (hint: look for lifestyle(s) with a pearson correlation coefficient that range between .60 and 1.00!)
Correlation and Regression area unit the 2 variable distribution-based analyses. A variable distribution is termed multiple variables distribution.
Correlation is represented because the analysis permits the U.S.A. to understand the connection between 2 variables, 'x' and 'y' or the absence of it. On the opposite hand, the multivariate analysis predicts worth|the worth} of the variable supported by the familiar value of the experimental variable, presumptuous that there's a median relation between 2 or additional variables.
The term correlation may be a combination of 2 words, 'Co' (together), and the relation between 2 quantities. Correlation is once it's discovered that an amendment in an exceedingly unit in one variable is retaliated by the same amendment in another variable, i.e., direct or indirect, at the time of study of 2 variables.
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All taxpayers can make tax payments using a direct debit from their bank account.
True
False
Answer:
false
Explanation:
Is the statement “the first day on a job is always easy” true?
Im gonna slap the person who told you that, Answer:
Pffttt ofc not its always hard the first day.
Good Explanation:
Your first day on the job can be intimidating, anxiety-inducing, nerve-wracking, and hopefully, you do good you know cause its a pain in the ####. So Don't underestimate any job buddy,
The answer is false btw.
Explain how savers would respond if the interest rate on savings accounts increased. Would they increase or decrease their amount of savings? What about borrowers? Would they increase or decrease their amount of borrowing if the interest rate on loans increased? Explain why.
Answer:
1. Savers increase their savings as interest rate increases
2. Borrowers decrease their borrowing as interest rate on loans increases
Explanation:
1.
Interest rates are a great determinant of what those who save money get on their deposits. When interest rate increases, people tend to save more so as to earn more interest on their deposits. So it encourages savings. Therefore as interest rate increases savers would increase their amount of savings.
2.
For borrowers, more interest rate on loan amount discourages borrowing. More interest rate means that they would have to pay back more money on the loan amount they borrowed. This implies a rise in the cost of borrowing. So the borrower decreases the amount of borrowing if interest rate on loan increases.
What is interest rate?
Interest rate is an amount charged by a lender to a borrower for any form of debt given, generally expressed as a percentage of the principal.
Interest rate to savers
Higher interest rate encourages savings. When interest rate increases, people tend to save more so as to earn more interest on their deposits.
The above means that savers will increase their amount in savings if the interest rate on savings accounts increases.
Interest rate to borrowers
Higher interest rate discourages lenders from borrowing more. More interest rate means that they would have to pay back more money on the loan amount they borrowed.
It therefore means that borrowers will decrease the amounts of borrowing if the interest rate on loans increases.
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An analyst who is interested in a company's long term solvency would most likely examine: O ROE O Quick Ratio O Times Interest Earned
An analyst who is interested in a company's long-term solvency would most likely examine the fixed charge coverage ratio.
Which of the following best describes how long-term solvency is measured?As a result, we can conclude that the Debt Equity Ratio indicates long-term solvency.
Why should I care about long-term solvency ratios?A company's ability to pay its debts over the longer and medium terms is evaluated using long-term solvency ratios. Interest coverage, the debt ratio, and gearing are a few examples. Financial Stability Ratios is another name for this concept. The fixed charge coverage ratio would most likely be examined by an analyst who is interested in the long-term solvency of a corporation.
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an activity ratio that measures how many times the inventory is turned over to meet the total sales figure is called the inventory turnover. a. true b. false
Inventory turnover True is an activity ratio that gauges how frequently inventory is changed to match overall sales volume.
What is the inventory turnover ratio quillet's formula?Measures the frequency with which inventory is purchased, sold, or used over a time period; represented as: Cost of Goods Sold divided by Average Inventory equals Inventory Turnover.
What class of ratios gauges a company's capacity to fulfill its immediate obligations?The ability of a company to satisfy its short-term financial obligations is revealed by liquidity ratios. They are especially valuable to those providing the company with short-term loans. The current ratio (also known as the working capital ratio) and the quick ratio are two commonly utilized liquidity ratios.
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Every week Jerome works 40 hours. On Fridays, he receives his paycheck. What type of income does Jerome earn?
A. unemployment income
B. earned income
C. investment income
D. passive income
Answer:
B. Earned Income.
Explanation:
Answer:
eared income
Explanation:
What are some reasons that a bank statement might not match a cash balance of a business's records? Choose all answers that are correct.
Question 1 options:
posted payments on credit cards
bank errors
outstanding deposits
service charges
recorded checks
outstanding checks
Answer:
outstanding deposits, outstanding checks, posted payments on credit cards
Explanation:
Bank errors, Outstanding Deposits, Service Charges, and Outstanding checks are some reasons that a bank statement might not match the cash balance of a business's records. The correct options are B, C, D, and F.
What information does a bank statement provide?Name, address, account number, and bank branch information are all listed on bank statements for account holders. Additionally, a summary table that displays the statement's time frame, opening and closing bank balances, deposits made to the account, refunds, and cash withdrawals is included. In addition, fines levied by your bank as well as declined or canceled payments will appear on your statements.
Differences between the two records could be the result of Deposits in transit: The firm may have received cash or cheques, but the bank may not have yet recorded them. Outstanding checks are ones that have been issued but have not yet been processed. Bank service fees: Banks frequently deduct service fees.
Thus, the ideal options are B, C, D, and F.
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Operating control involves checking ongoing performance against the annual plan and taking corrective action when necessary.
a. true
b. false
The statement "Operating control involves checking ongoing performance against the annual plan and taking corrective action when necessary" is true.
Operating control refers to the process of monitoring and managing ongoing activities to ensure they align with the annual plan or goals of a company or organization. This involves regularly checking the performance of various operational aspects, such as production, sales, expenses, and customer satisfaction, against the predetermined targets set in the annual plan.
By comparing the actual performance with the planned targets, operating control allows managers to identify any deviations or variations from the expected outcomes. If the ongoing performance falls short of the targets or deviates from the plan, corrective action is necessary to address the issues and bring the operations back on track.
For example, let's say a company has set a goal to achieve a certain level of sales revenue in a year. Through operating control, the company regularly tracks its sales performance on a monthly or quarterly basis. If the actual sales revenue is consistently lower than the projected targets, the management can take corrective action, such as implementing marketing strategies, improving product quality, or revising pricing strategies, to boost sales and align them with the annual plan.
In summary, operating control involves the continuous monitoring of ongoing performance against the annual plan and taking corrective action when necessary to ensure that the company's operations are on track to achieve its goals.
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An item is regularly priced at 70$. It is on sale for 20% off the regular price. What is the sale price?
ITS 7TH GRADE MATH BTW!
Answer:
it's 56.
Explanation:
70*0.8=56
Customer service personnel typically need at least A. a high school diploma. B. a vocational school certificate. C. a community college degree. D. a four-year degree.
Answer:
A. a high school diploma.
Explanation:
Typically, a Customer service representative's minimum qualification is a high school diploma. They also need on the job training to acquire specific skills required to work in that particular organization. Companies organize classroom-like training to teach the customer service representatives about their products and services.
Some organizations, such insurance companies and banks, may demand higher qualifications due to the technical aspects of their job.
When the Federal Reserve System buys bonds in the open market, the national debt
Must increase.
Must increase as long as the Fed buys only newly issued bonds.
Is not affected.
Will decrease because the Fed is a government agency.
When the Federal Reserve System buys bonds in the open market, the national debt is not affected (Option C).
The Federal Reserve System buys bonds in the open market in order to expand the money supply. The money supply is increased when the Fed buys bonds in the open market and decreases when it sells bonds in the open market. However, the national debt is not affected by this process.
The national debt is the total amount of money owed by the federal government. It is not affected by whether the Fed buys or sells bonds in the open market. The national debt is affected by the government's budget deficit, which is the difference between its spending and revenue. If the government spends more than it takes in, the budget deficit will increase and the national debt will also increase. If the government spends less than it takes in, the budget deficit will decrease and the national debt will also decrease.
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1. Poverty is more than an economic problem, its a source of social discontent and political________; However, economic _________ has reduced the proportion of people living below the _______ line.
Poverty is more than an economic problem, it is a source of social discontent and political unrest; economic development has reduced the proportion of people living below the poverty line.
What is poverty?Poverty is shown as a deficiency of money and profitable resources to support long-term survival.
Hunger and starvation, restricted access to education and other basic services, social prejudice and exclusion, and a disinterest in decision-making are all examples of its expressions.
Poverty is a cause of social dissatisfaction and political upheaval; economic development has lowered the amount of people living in poverty.
Therefore, the poverty is a very big problem than the economic problem.
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Jamie is a purchasing agent for a company that manufactures shoes. She
has just submitted a purchase order to a supplier for more leather. Which
step of the purchasing process comes next?
A. Quality check
B. Requisition
C. Bid soliciting
O D. Shipping
Answer:
D. Shipping
Explanation:
Shipping refers to the activity of physically moving goods from one location to another. The goods could be moving from one store to another, from manufacturers to distributors, or from retailers to customers. Shipping is 'carrying goods' and hence a component of logistics.
After Jamie has prepared a submitted a purchase order, the next thing is to wait to receive the goods she ordered. Her supplier should ship the goods to her. The supplier can deliver the goods by themselves or use a logistics company.
explain any four consumer rights as stipulated in the CPA
It’s a bill that has/says that every person has four basic consumer rights. Which are -“the right to be informed, the right to choose, the right to safety, and the right to be heard. ”
Answer:
The right to be informed, the right to choose, the right to safety, and the right to be heard.
Explanation:
These rights received a lot of attention from the consumer movement, a movement to pass laws protecting consumers from unfair and unsafe business practices.
A closed system undergoes a process in which there is no internal energy change. During this process, the system produces 1.77
×
10
6
ft. lbf of work.
Calculate the heat transfer,
Q
i
n
=
Btu for this process.
(Round to the nearest integer)
The heat transfer, Qin, in Btu for this process is 1,770,000 Btu.
In a closed system, when there is no internal energy change (ΔU = 0), the first law of thermodynamics states that the heat transfer (Qin) is equal to the work done (W). Therefore, Qin = W.
Given that the system produces 1.77 × 10^6 ft. lbf of work, we need to convert this work value to Btu.
To convert ft. lbf to Btu, we use the conversion factor: 1 Btu = 778.169 ft. lbf.
So, Qin = (1.77 × 10^6 ft. lbf) / (778.169 ft. lbf/Btu) = 2273.69 Btu.
Rounding to the nearest integer, Qin ≈ 2274 Btu.
Therefore, the heat transfer Qin for this process is approximately 2274 Btu.
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the financial system consists of financial _____, such as commercial banks, and financial markets, such as the stock market.
The financial system consists of financial intermediaries, such as commercial banks, and financial markets, such as the stock market. This is further explained below.
What are financial intermediaries?Generally, financial intermediaries are simply defined as Banks, building societies, and unit-trust companies are all examples of financial intermediaries.
In conclusion, Institutions like commercial banks and marketplaces for trading financial instruments like stocks and bonds make up the financial system.
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Scott Co. paid $2,800,000 to acquire all of the common stock of Dawn Corp. on January 1,2020 . Dawn's reported earnings for 2020 totaled $512,000, and it paid $160,000 in dividends during the year. The amortization of allocations related to the investment was $28,000. Scott's net income, not including the investment, was $3,310,000, and it paid dividends of $950,000. What is the amount of consolidated net income for the year 2020 ?
$2,740,000 is the amount of consolidated net income for the year 2020
To calculate the consolidated net income for the year 2020, we need to combine the net incomes of Scott Co. and Dawn Corp., taking into account the investment and the allocation amortization.
The calculation is below:
Scott Co.'s net income (excluding the investment) = $3,310,000
Dawn Corp.'s reported earnings = $512,000
Add: Amortization of allocations related to the investment = $28,000
Total consolidated net income before investment = Scott Co.'s net income + Dawn Corp.'s reported earnings + Amortization
= $3,310,000 + $512,000 + $28,000
= $3,850,000
we also need to consider the impact of dividends on the consolidated net income:
Scott Co.'s dividends = $950,000
Dawn Corp.'s dividends = $160,000
Subtract the total dividends paid from the consolidated net income before investment:
Consolidated net income for the year 2020 = Total consolidated net income before investment - Dividends
= $3,850,000 - ($950,000 + $160,000)
= $2,740,000
Therefore, the amount of consolidated net income for the year 2020 is $2,740,000.
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If the customer owes $12.55 and hands you a $20.00 bill, how much is her change?
A) $8.25
B) $8.45
C) $7.55
D) $7.45
What is an index fund? Explain in your own words.
Answer:
An index fund is a mutual fund or exchange trade fund designed to follow certain present rules so that the fund can track a specified basket of underlying investments
An investor plans to invest 75 percent of her funds in the common stock of Gamma Industries and 25 percent in Epsilon Company. The expected return on Gamma is 12 percent and the expected return on Epsilon is 16 percent. The standard deviation of returns for Gamma is 8 percent and for Epsilon is 12 percent. The expected return on the investor's portfolio is
The expected return on the investor's portfolio is 13%.
To calculate the expected return on the investor's portfolio, we need to consider the weights and expected returns of the two investments.
Given that the investor plans to invest 75% in Gamma Industries and 25% in Epsilon Company, we can calculate the weighted average expected return using the following formula:
Expected return on portfolio = (Weight of Gamma * Expected return of Gamma) + (Weight of Epsilon * Expected return of Epsilon)
Let's plug in the values:
Weight of Gamma = 75%
Weight of Epsilon = 25%
Expected return of Gamma = 12%
Expected return of Epsilon = 16%
Expected return on portfolio = (0.75 * 0.12) + (0.25 * 0.16)
Expected return on portfolio = 0.09 + 0.04
Expected return on portfolio = 0.13
As a result, the investor's portfolio is predicted to return 13%.
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Richard, Sarah, and Trevor form a partnership because it offers the following advantage:
a. unlimited financial liability
b. limiting liability of partners to the value of their interests in the company
c. greater financial resources
d. double taxation
Richard, Sarah, and Trevor form a partnership because it offers the advantage of "greater financial resources."The correct answer is option(c).
A partnership is a type of business organization in which two or more individuals co-own the company and share the profits and losses. A partnership's structure and legal requirements are determined by the state in which it operates. Partnerships, like other types of businesses, have advantages and disadvantages. A partnership's advantages and disadvantages, as well as the type of partnership, vary based on the state's rules and regulations.
Types of Partnership: General Partnership, Limited Partnership, and Limited Liability Partnership.
Advantages of Partnership:
Partner's skills and expertise
Sharing of profits and losses
increased financial resources
Ease of formation Flexibility
More decision-makers
Disadvantages of Partnership:
Joint and individual liability
Division of profits
Disagreements among partners
Less room for growth
Ultimately, it can be concluded that Richard, Sarah, and Trevor form a partnership because it offers the advantage of "greater financial resources."
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Before you move forward, summarize the changes you will need to make to your new budget. Describe these changes in at least two sentences.
Answer: yes
Explanation:
The right answer on edge is: I need to change my budget so that I save at least $300 per month. Over twelve months, this will increase my savings by $3,600. I also need to change my budget to save for a new computer, so I need to save an extra $100 a month for that. In total, I need to save $400 a month.
Answer:
The right answer on edge is: I need to change my budget so that I save at least $300 per month. Over twelve months, this will increase my savings by $3,600. I also need to change my budget to save for a new computer, so I need to save an extra $100 a month for that. In total, I need to save $400 a month.
Explanation: I just did the test an got a 100
An investment of $100 is placed into an account that earns interest, compounded annually, at a rate of 5% for 7 years. The amount, A, in the account can be modelled by the function A = 100(1.05)', where t is the time, in years. What is the domain of this function?
The domain of the function\(A = 100(1.05)^t\) is (-∞, ∞).
Given that an investment of $100 is placed into an account that earns interest, compounded annually, at a rate of 5% for 7 years. We need to find the domain of the given function A=100(1.05)^t, where t is the time in years.
Domain of a function refers to the set of all possible values of the input variable or the independent variable, for which the function is defined. For the given function, since it is a power function, it is defined for all real values of t, that is, the domain of the function is (-∞, ∞).
However, in the given function, since the investment is made for 7 years only, it is sensible to find the range of the function over the interval [0, 7], which is the duration of the investment.To find the range of the function, we can substitute the lower and upper bounds of the interval [0, 7] in the given function and evaluate the function value.
\(A(0) = 100(1.05)^0 = 100(1) = 100A(7) = 100(1.05)^7 = 100(1.402551) = 140.255\)
Thus, the range of the function A over the interval [0, 7] is [100, 140.255].
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what likely effect will a new tariff have on the price of an imported product
Tariffs increase the prices of imported goods. Because of this, domestic producers are not forced to reduce their prices from increased competition, and domestic consumers are left paying higher prices as a result.
Part 1: Unitech industries offers comparatively low compensation but many unique benefits to its employees. Which approach is the best way to communicate this information?A. Conduct compensation and benefits training sessions with employeesB. Schedule an annual compensation and benefits fair for employeesC. Send monthly memos highlighting the compensation and benefits plansD. Create a total rewards dashboard summarizing the value of all benefits offered to employeesE. Publish reports describing competitor compensation and benefits plansPart 2: An employee survey at a company indicates that many employees are unhappy with the retirement plan. They would prefer one that would result in employees being paid a fixed amount of money each month. What type of plan would better match the employees' preferences?A. 401k planB. 403b planC. Individual retirement arrangementsD. Thrift savings planE. Defined benefits planPart 3: Your organization offers employees an ERISA-covered retirement plan. You're adding newly eligible employees to the portal and notice that one employee is married but wants to name their mother as their beneficiary. What would you do next?A. advise the employee that they need written consent from their spouseB. Tell the employee they must designate their spouse as the beneficiaryC. Ask them why they didn't name their spouse as the beneficiaryD. Nothing; the employee can designate whomever they would like to be the beneficiaryE. Nothing; the change will be automatically rejected as spouses are automatic beneficiaries
1) The way approach to communicating Unitech compensation and benefits information is D. Create a total rewards dashboard summarizing the value of all benefits offered to employees
2) The type of retirement plan that would better match the employees' preferences for a fixed monthly payment is E. Defined benefits plan.
3) Under an ERISA-covered retirement plan, if an eligible employee designates their mother as their beneficiary, my advice is D. Nothing; the employee can designate whomever they would like to be the beneficiary
Who is a beneficiary under an ERISA retirement plan?The beneficiary of an ERISA retirement plan can be a person, an estate, a trust, a charity, or another entity.
ERISA means Employee Retirement Income Security Act of the federal government.
The eligible employee has the right to name any person as a beneficiary.
If the employee is married before the registration, the spouse is automatically entitled to receive 50% of the benefits, despite the named beneficiary.
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which of the following is the correct word phrase of "4b+10"?
A. four added to 10
B. the product of four and B added to 10
C. the sum of 4 and B plus 10
D. the product of four and B subtracted to 10