Answers
Answer:
The maximum expected contribution toward health insurance coverage that a taxpayer may be required to pay in 2022 depends on several factors, including their income level and the size of their household. The premium for a benchmark plan purchased through an ACA marketplace, also known as the Affordable Care Act (ACA) marketplace, is used to determine the amount of the premium tax credit that a taxpayer may be eligible to receive. The premium tax credit is a financial assistance program that helps eligible individuals and families afford health insurance coverage.
The premium tax credit is based on the difference between the premium for the benchmark plan and the taxpayer's expected contribution toward the premium. The taxpayer's expected contribution is based on their income level and the size of their household, as determined by the Federal Poverty Level (FPL). If a taxpayer's income is below 400% of the FPL, they may be eligible for a premium tax credit.
Explanation:
For example, if a taxpayer's income is below 100% of the FPL and they are part of a household of one, their expected contribution toward the premium for a benchmark plan purchased through an ACA marketplace in 2022 may be no more than 2% of their income. If their income is between 100% and 200% of the FPL, their expected contribution may be no more than 4% of their income. If their income is between 200% and 300% of the FPL, their expected contribution may be no more than 6.4% of their income. If their income is between 300% and 400% of the FPL, their expected contribution may be no more than 8.5% of their income.
It's important to note that these are just estimates, and the actual amount that a taxpayer is required to contribute toward their health insurance coverage may vary. It's always a good idea to check with the ACA marketplace or a qualified tax professional for more specific information about your situation.
A taxpayer's estimated maximum payment for health insurance coverage in 2022 will depend on a number of variables, including their income level and the size of their household.
What is health insurance?A corporation and a customer enter into a contract for health insurance. In exchange for the payment of a monthly premium, the corporation offers to cover all or part of the insured person's medical expenses.
The contract, which is typically for a year, outlines the precise costs linked to disease, injury, pregnancy, or preventative treatment that the insurance will be liable for covering.
Certain services provided without prior authorization may not be covered by insurance companies. If a generic version or a similar drug is available for less money, they may decline to pay for name-brand pharmaceuticals.
These guidelines should all be included in the documentation that the insurance provider provides. Before making a significant investment, it is wise to check with the company directly.
Learn more about health insurance, here
https://brainly.com/question/29042328
#SPJ2
Related Questions
You are responsible for replacing a piece of machinery in an assembly line. Each choice will last for ten years and work equally well.
Choice A costs $250,000 to purchase and requires annual maintenance costs of $25,000.
Choice B costs $400,000 to purchase and requires maintenance costs in years 4 and 8 of $30,000.
Using an interest rate of 8%, what is the present value of the costs for choice B?
Responses
Answers
The sum of the present values of the initial cost and the ongoing costs for choice B is the total present value of the costs:
The present value of the costs associated with option B is $436,774 at an interest rate of 8%. PV(total cost of option B) = $400,000 + $36,774 = $436,774
What is meant by Initial Cost?The total cost of acquiring or purchasing an asset, including all costs associated with its acquisition or installation, is referred to as the initial cost. It is the cost of acquiring the asset before any profits or savings it may have brought in.
For instance, if a business purchases a new machine for production, the initial cost would include the machine's purchase price, the cost of transportation, the cost of installation, and any other costs incurred during the purchasing process.
Businesses must take into account the initial cost because it has an impact on their profitability and cash flow. A larger initial investment may be required, resulting in a longer payback period and decreased profitability.
To know more about Acquisition, visit:
https://brainly.com/question/28318155
#SPJ1
The company determines that the interest expense on a note payable for the period ending December 31 is $630. This amount is payable on January 1. Prepare the journal entries required on December 31 and January 1. If an amount box does not require an entry, leave it blank. Dec. 31 Jan. 1
Answers
Dec. 31: No entry is required on December 31, because the interest charge for the period ending December 31 has already been calculated and will be recorded when the payment is made on January 1.
Jan. 1: The following journal entry might be used to record the payment of interest on January 1: Expense for debit interest: $63 Cash Credit: $630 This item details the payment of the note payable's interest expenditure. The Interest Expense account is debited to indicate the period's expense, and the Cash account is credited to show the expense's payment. The company determines that the interest expense on a note payable for the period ending December 31 is $630. This amount is payable on January 1. Prepare the journal entries required on December 31 and January 1.
learn more about Interest here:
https://brainly.com/question/30393144
#SPJ4
If a seller can create switching costs for its product, then: ________________
a. customers will find it more costly to stay with the company than to switch to another seller.
b. it increases its costs by producing several versions of the product so customers can switch between versions.
c. it is difficult or costly for the seller to switch to producing a different product.
d. it is difficult or costly for customers to switch to another seller of the product.
Answers
It should be noted that if a seller can create switching costs for its product, in this case, B:it increases its costs by producing several versions of the product so customers can switch between versions.
Switching costs can be regarded as the costs that is been paid by a consumer due to switching of a brands or products.
Switching costs may comes in term of monetary as well as effort-based cost.
We can conclude that if a seller can successfully create switching costs as regards her product, then it results to more gains.
Learn more about switching costs at:
https://brainly.com/question/13186211
2. Identify four skills that you will need to actively participate in meetings.
Answers
Answer:
Particpating, having to ability to drink a lot of coffe, being energetic, concertrating.
Explanation:
Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions.
May 11 Sydney accepts delivery of $25,000 of merchandise it purchases for resale from Troy: invoice dated. May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $16,750. Sydney pays $410 cash to Express Shipping for delivery charges on the merchandise.
12 Sydney returns $1,400 of the $25,000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $938.
20 Sydney pays Troy for the amount owed. Troy receives the cash immediately.
Required:
a. Prepare journal entries that Sydney Retailing (buyer) records for these three transactions.
b. Prepare journal entries that Troy Wholesalers (seller) records for these three transactions.
Answers
Answer:
Buyer
May 11 Dr Merchandise inventory 25,000
Cr Account payable 25,000
Dr Merchandise inventory 410
Cr Cash 410
May 12 Dr Account payable 1400
Cr Merchandise inventory 1400
May 20 Dr Account payable 23,600
Cash 22,892
Dr Merchandise inventory 708
(Seller)
May 11 Dr Account receivable 25,000
Cr Sales revenue 25,000
Dr Cost of goods sold 16,750
Cr Merchandise inventory 16,750
May 12 Dr Sales return and allowance 1400
Cr Account receivable 1400
Dr Merchandise inventory 938
Cr Cost of goods sold 938
May 20 Dr Cash 22,892
Dr Sales discount 708
Cr Account receivable 23,600
Explanation:
Preparation of the Journal entry for Buyer
May 11 Dr Merchandise inventory 25,000
Cr Account payable 25,000
Dr Merchandise inventory 410
Cr Cash 410
May 12 Dr Account payable 1400
Cr Merchandise inventory 1400
May 20 Dr Account payable (25,000-1400) 23,600
Cash (23,600*97%) 22,892
Dr Merchandise inventory 708
(23,600*3%)
Preparation of Journal entry (Seller)
May 11 Dr Account receivable 25,000
Cr Sales revenue 25,000
Dr Cost of goods sold 16,750
Cr Merchandise inventory 16,750
May 12 Dr Sales return and allowance 1400
Cr Account receivable 1400
Dr Merchandise inventory 938
Cr Cost of goods sold 938
May 20 Dr Cash 22,892
[(25,000-14000)*97%]
Dr Sales discount 708
[(25,000-14000)*3%]
Cr Account receivable 23,600
What is the difference between final goods and intermediate goods?
Answers
A) Final goods are goods that are purchased by the end-consumer or user for their personal consumption or use.
B) Intermediate goods, on the other hand, are goods that are used as inputs in the production of other goods.
Final goods and intermediate goods are terms used in economics to distinguish between different types of goods in the production process. Here's a breakdown of the difference between the two:
1. Final Goods:
Final goods are goods that are purchased by the end-consumer or user for their personal consumption or use. These goods are ready for consumption and do not undergo further processing or transformation before reaching the final consumer. Examples of final goods include food products, clothing, electronics, furniture, and vehicles. Final goods are the end result of the production process and are intended for final consumption or use.
2. Intermediate Goods:
Intermediate goods, on the other hand, are goods that are used as inputs in the production of other goods. They are not intended for final consumption but are instead used as raw materials, components, or capital goods in the production process. Intermediate goods undergo further processing or transformation before being included in the final goods. Examples of intermediate goods include raw materials like steel or wood, components like circuit boards or engines, and machinery or equipment used in production.
The key distinction between final goods and intermediate goods lies in their purpose and stage in the production process. Final goods are produced for the ultimate satisfaction of consumers' needs and are ready for consumption, while intermediate goods are used in the production of other goods and undergo further processing.
It's important to note that when calculating a country's Gross Domestic Product (GDP), only the value of final goods is considered. Intermediate goods are excluded to avoid double-counting, as their value is already included in the final goods they contribute to. By focusing on final goods, GDP provides a measure of the value of goods and services produced for final consumption in an economy.
for more such question on goods visit
https://brainly.com/question/25262030
#SPJ8
Do the benefits of making the minimum payment outweighs the cost
Answers
Making the minimum payment can offer benefits such as avoiding late fees, maintaining a good credit score, and preventing legal action from creditors.
Additionally, it allows the borrower to have some cash available for other expenses. However, the cost of making only the minimum payment can be significant in the long run. It increases the interest accrued on the amount owed, leading to higher overall debt and longer repayment periods.
Moreover, it can hinder the borrower's ability to attain financial stability and independence in the future. Thus, while making the minimum payment can provide advantages, it is essential to ensure that it is not a long-term strategy for managing debt.
Learn more about minimum payment here:
https://brainly.com/question/1891029
#SPJ1
4
Davis Manufacturing estimated that it would sell 20 percent more of its most popular product this year. However, economic conditions in the country that
supplies some of the component parts for the product caused the cost of these parts to almost double. Davis Manufacturing, therefore, changed course
and focused instead on selling more of its domestic products that do not use these component parts. This change of course for the company would be
outlined in the firm's
Answers
Usually, a change of course such as the change in this company operation would be outlined in the firm's product vision statement.
What is product vision statement?A product vision statement is a statement that is use as a guide or reminder to all the stakeholders involved in a product's development and also entails the objective they are aiming to achieve.
Usually, the product vision statement will reflect the change if the change of organization course occur.
In conclusion, the change of course such as the change in this company operation would be outlined in the firm's product vision statement.
Read more about product statement
brainly.com/question/25387241
Which time-management tool helps you analyze which tasks are most important and whether to "do", "defer", "delegate", or "delete"?
Online calendar
Time management matrix
Learning management system Daily planner
Answers
The time-management tool helps you analyze which tasks are most important and whether to "do", "defer", "delegate", or "delete" is: Time management matrix.
What is time management matrix?Time management matrix can be defined as a matrix they enables people to effectively manage their time and this matrix help to prioritize tasks from the most important tasks to the least important tasks.
Time management matrix is important for those people that want to learn how to manage their time so as to complete their tasks within a stipulated period of time.
Therefore the time-management tool helps you analyze which tasks are most important and whether to "do", "defer", "delegate", or "delete" is: Time management matrix.
Learn more about Time management matrix here:https://brainly.com/question/24662469
#SPJ1
si el dia 17 de junio me comprometo a pagar una suma de dinero en un plazo de 3 meses: ¿hasta que dia tengo tiempo para hacer efectivo el dinero?
Answers
The date that you would have to pay back the money borrowed would be September 16.
How to find the date ?A financial agreement or contract is established when an individual commits to paying a specific sum of money within an agreed-upon timeframe. In this particular instance, the obligation entails remitting payment within three months from June 17.
Should one vow to pay said amount before 3 whole months after June 17, then they would have until September 16th to follow through on their promise. This is because September 17th marks the end of the third month and thus its conclusion. Nevertheless, given that full payment is mandated within the span of those 90 days, the last day to submit the sum turns out to be September 16th - marking the final date of the time period at hand.
Find out more on date at https://brainly.com/question/18452621
#SPJ1
Two co-workers at Nortel came up with an idea for renting software over the Internet. Nortel’s top management liked the idea and set up a special division called Channelware devoted to taking the idea and making a new product. The establishment of a new company and assigning the employees in the division the task of making an idea a reality requires which management function?
Answers
PLEASE HURRY
1. What are the 3 parts of the Federal Reserve?
2. How many Board of Governors are there?
3. How many District/Reserve Banks are there?
4. Which Reserve Bank President always gets a vote with the FOMC (hint: which city)?
5. How many votes are there in the FOMC, the group that takes action on the nation's money supply?
6. What is the long term goal of the Federal Reserve (hint: discussed at the research department)
7. How do banks get money so that it can be lended out to businesses and consumers?
Answers
The Federal Reserve Banks
The Federal Open Market Committee
2. 7
3. 12
4. New York
5. 12
6. Maximum employment
Stable prices
Moderate long-term interest rates
7. Taking out loans from depositors and paying them back with a set interest rate
which of these is a negative impact of lobbying
Answers
The drawback of lobbying is that those with money get an advantage over others.
It is well known that individuals or interest groups use lobbying as a strategy to try to sway judgments. It frequently occurs in most political structures. Some wealthy groups may push for certain choices to be made in their favor. The majority of the time, those who can afford to buy their way through are the ones who get an advantage in lobbying.
A crucial instrument for efficient government is lobbying. Without it, it would be challenging for governments to balance the many, divergent interests of their citizens. Fortunately, lobbying offers people access to politicians, acts as a platform for education, and leverages the strength of numbers to advance small-group goals.
Complete question:
Which of these is a negative impact of lobbying?
A - It makes businesses too transparent.
B - It favors groups over individuals.
C - It enables outsiders to influence lawmakers.
D - It offers advantages to those with money.
To learn more about lobbying
https://brainly.com/question/13313657
#SPJ4
If stock prices go up then investors____.
Answers
If stock prices go up then investors make higher profits or gains. Strong earnings typically lead to an increase in the stock price (and vice versa).
However, the stock price of some businesses that aren't doing all that well is nonetheless skyrocketing. Investor hopes that the firm would become profitable in the future are reflected in this growing price. There are, however, no assurances that a firm will live up to the current aspirations of investors to become a high-earning corporation in the future, regardless of the stock price.
The price of a stock can also be impacted by business-specific news, such as the publishing of an earnings report, especially if the firm is posting after a weak quarter.
Learn more about investors here:
https://brainly.com/question/31933294
#SPJ1
Question 9 of 10
To pay down the principal on your student loan right away, you should:
Answers
To pay down the principal on your student loan right away, one should pay more than minimum amount expected to be paid with interest.
What is student loan?
An agreement whereby a college or university student borrows a bank's money to pay for their studies and then repays the loan once they have finished their studies and have begun working.
Reason
A loan payment that doesn't go toward the interest due on the loan but instead lowers the amount still owed on the loan.
What is principal loan?
The principal is the sum of money you initially promised to repay. The cost for borrowing the principal is interest. In general, any payment is made on a vehicle loan will be used to cover any outstanding fees first.
To know more about loan principal refer
https://brainly.com/question/25696681
#SPJ9
________ is an underlying assumption of cost-volume-profit analysis. A : All units produced are either sold or in ending inventory B : The behavior of both costs and revenues is curvilinear throughout the entire range of the activity index C : All costs can be classified as either variable or fixed with reasonable accuracy D : Changes in activity and other factors affect costs
Answers
Answer:
C : All costs can be classified as either variable or fixed with reasonable accuracy
Explanation:
Cost volume profit analysis (CVP) makes the following assumptions when it is used to determine how any change in costs can affect income:
costs can be classified as fixed or variable, and they are constantrevenues are linear with a given rangeall units produced are soldcosts will only change if output changesWhich of the following is NOT a leading cause of wasted time for managers
Answers
One thing that is not a leading cause of wasted time for managers is C. Problem solving.
What are some leading caused of wasted time for managers?There are several causes of wasted time for managers. This means that these factors lead to managers spending time they don't have on things that can be delegated to others to save time.
They include certain meetings, telephone calls, and paperwork which can take hours. As it is the job of a manager to engage in problem-solving, this does not count as time easting.
Options for this question are:
A.MeetingsB.Telephone callsC.Problem solvingD.PaperworkFind out more on managers at https://brainly.com/question/15612191
#SPJ1
Question 2 of 20
Lexi wants to open an account where she can access the funds she needs to
pay her rent and other bills any time she wants. Which type of account would
be the best option for Lexi?
OA. A checking account
OB. A certificate of deposit
OC. A savings account
D. A money market account
SUBMIT
Answers
The best option for Lexi, who needs access to funds anytime she wants to pay her rent and other bills, would be a checking account (option A).
Checking accounts offer features such as check writing, debit card usage, and online banking, allowing Lexi to conveniently and quickly access her money whenever needed. With a checking account, she can easily pay bills by writing checks or using electronic payment methods.
In contrast, options B and C, a certificate of deposit (CD) and a savings account, respectively, may not be the best fit for Lexi's immediate needs. A CD typically requires the funds to be locked in for a specified period of time, usually ranging from a few months to several years, with limited or no access to the funds until the maturity date.
Option D, a money market account, is another viable choice for Lexi. Money market accounts often offer higher interest rates than traditional savings accounts, and they also provide check-writing and debit card capabilities. However, some money market accounts may have minimum balance requirements or limitations on the number of transactions.
Option A.
For more such questions on account visit:
https://brainly.com/question/28326305
#SPJ8
According to the above material, there exist large differences between economic growth rate using traditional expenditure approach and the satellite night-light data. How do you evaluate the night-light data method? and can you identify several reasons why there exists such differences?
Answers
The use of satellite night-light data as a method to evaluate economic growth has both strengths and limitations. Reasons for Differences between Traditional Expenditure Approach and Night-light Data: Informal Economy, Data Limitations, Urbanization Bias and Structural Changes.
Here is an evaluation of the night-light data method and several reasons for the differences observed between the traditional expenditure approach and the night-light data:
Evaluation of the Night-light Data Method:
Objective and Timely: Satellite night-light data provides an objective and timely measure of economic activity. Wide Coverage: Night-light data can cover large geographical areas, including remote and inaccessible regions. Granularity: The data can be analyzed at a fine-grained level, allowing for detailed spatial analysis of economic patterns. This can help identify pockets of growth and disparities within regions.Reasons for Differences between Traditional Expenditure Approach and Night-light Data:
Informal Economy: The traditional expenditure approach relies on official economic data, which may not fully capture the informal sector. Data Limitations: Night-light data has its limitations. It primarily measures economic activity related to lighting, which may not capture other dimensions of economic growth such as services or knowledge-based industries. Urbanization Bias: Night-light data tends to be more representative of urban areas with higher population density and greater access to electricity. Structural Changes: The traditional expenditure approach focuses on consumption and investment, while night-light data primarily captures the energy consumption associated with lighting.For such more question on economic:
https://brainly.com/question/28210218
#SPJ8
Drag each label to the correct location.
A management team uses various budgeting methods as a central planning tool to coordinate activities in their organization
master budget
cash budget
administrative salaries
sources of cash
sources of expense
1 X
direct labor rates
no. of units sold and sales revenue
no. of units to be manufactured
cost of finished goods
Answers
Answer:A master budget is used to project the income and expenses of a company. ... The major components of a master budget include income and expenses, overhead and production costs, and the monthly, annual, average and projection totals.
Explanation:A master budget is a financial document that includes how much an organization plans to make and how much they plan to spend over a fiscal year, usually broken down into quarters or months. It may also include text explanations of how the budget can help the company reach its strategic goals.
A management team uses various budgeting methods as a central planning tool to coordinate activities in their organization through master budget. Read below about master budget.
What is a master budget?A master budget is a financial statement that incorporates the amount an organization plans to make and how much they plan to spend over a fiscal year, usually broken down into quarters or months.
Therefore, the correct answer is option A. master budget.
learn more about master budget: https://brainly.com/question/14290913
#SPJ2
4. Julio's attorney negotiates a structured settlement after an injury, consisting of seven equal payments to Barry of $150,000 each. The first payment is due today, and the remaining payments will be received in annual amounts, with the second payment occurring one year from now. What is the approximate value of this settlement in today's dollars if Barry uses a discount rate of 5%? a. $911,352 b. $867,960 c. $746,235 d. $1,050,000
Answers
Julio's attorney negotiates a structured settlement after an injury, consisting of seven equal payments to Barry of $150,000 each.-----------. The approximate value of this settlement in today's dollars if Barry uses a discount rate of 5% is $911,352. Thus optrion (A) is correct.
What is structured settlement?A structured settlement is an agreement between a claimant and a defendant under which the claimant receives a settlement award in the form of a stream of periodic payments.
A structured settlement may be agreed to privately, in a pre-trial settlement, or may be required by a court order, which often happens with judgments involving minors.
Julio's attorney negotiates a structured settlement after -----------. The approximate value of this settlement in today's dollars if Barry uses a discount rate of 5% is $911,352.
Learn more about structured settlement here:
https://brainly.com/question/29590615
#SPJ1
What should a manager ideally do after implementing a solution to a given work-related problem?
Answers
Answer:
After implementing a solution to a given work-related problem, the manager should EVALUATE THE OUTCOME OF THE SOLUTION.
...
focus on other problems.
evaluate the outcome of the solution.
analyze the experience of the decision-making process.
evaluate the performance of all employees involved in the problem-solving process.
Answer:
Evaluate the outcome of the solution
Explanation:
Correct in Edmentum! I took the test!
When existing products are given superficial changes and marketed as new to maximize profits is referred to as
Answers
Answer:
planned obsolescence
Explanation:
Planned obsolescence is a marketing strategy that focuses on deliberately launching new versions of existing products that are only slightly changed, but they make the existing product obsolete. The most common example are minor changes in cars made every year that make them the new version, while major changes only occur every 5 or 6 years. Another example is using irreplaceable batteries in smartphones, tablets or notebooks. Once the batteries start to fail, you have to replace the whole product.
Explain the difference between 50/50 and 40/40 emotional energy, and provide an example of each.
Answers
The concepts of 50/50 and 40/40 emotional balance are often used in relationships and emotional relationships.
50/50 Emotional strength is a state in which two people in a relationship are equal in relation to each other and are willing to give equal weight to maintain the relationship. In this case, both parties give and receive equal incentives and share responsibility for the success or failure of the relationship. An example of 50/50 emotional strength in a good relationship is a couple who communicate well, listen to each other's needs, and encourage each other.
On the other hand, the 40/40 mindset is when both partners in a relationship focus on their own emotional needs and refuse to give their partners equal support.
In this case, neither partner is invested in the other's feelings, resulting in a lack of motivation and a contradictory relationship. An example of 40/40 emotional stability in a romantic relationship would be a couple in which one partner feels neglected and supported while the other focuses only on their own needs and feelings.
In general, the concept of emotional strength emphasizes the importance of joint initiatives in relationships and the benefits of motivation and balance between two partners.
For more such question on relationships
https://brainly.com/question/30453823
#SPJ11
PLEASE HELP!! Retirement plans-
Under what circumstances is it better to be taxed later(when you retire and draw money from your account) instead of now?
Answers
Answer:
Though retirement may seem far off, saving for it as early as possible will ensure you have enough money to get you through your retirement years. In addition, investing benefits from compounding returns, which will increase your money more over a longer period of time.
The competitive threat that outsiders will enter a market is weaker when
Answers
The competitive threat that outsiders will enter a market is weaker when the incumbents enjoy substantial cost advantages.
The competitive threat that outsiders will enter a market refers to the possibility that new firms will enter a market to compete against existing firms. It is the degree of competition in a market that is determined by the ability of other companies to enter the same market and offer similar goods or services at a lower cost.
There are certain factors that determine the competitive threat of outsiders, these are:Ease of Entry: When the cost of entering a market is low, the threat of new entrants is high and vice versa.Brand loyalty: In markets where consumers are more loyal to the existing brands, the competitive threat of new entrants is weaker.
Patents: In markets where incumbents hold many patents, the competitive threat of new entrants is weaker.Cost advantage: The competitive threat of outsiders is weaker when incumbents enjoy substantial cost advantages.Cost advantage is the answer to your question.
The competitive threat that outsiders will enter a market is weaker when incumbents enjoy substantial cost advantages.
For more such question on competitive visit:
https://brainly.com/question/28967395
#SPJ8
Joseph is writing a report tracing the three-month development of a new office site. What type of organizational method should he use
Answers
Organizational methods refer to the systems of computing activities and events. For Joseph who is writing a report tracing the three-month development of a new office site, he should use the;
Time organizational method.As the name suggests, the time organizational method arranges events according to the time of their occurrence. The same is applicable for the report that Joseph is computing.
He will organize the activities according to the stages and time of occurrence within the three-month time frame.
Learn more here:
https://brainly.com/question/12384651
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
Learn more about monthly payment here: https://brainly.com/question/25599836
#SPJ1
Hàm số cầu của tảo hàng năm có dạng: Qd = 10 – P/2. Mùa thu hoạch năm trước là 8 ngàn tấn. Năm nay, thời tiết không thuận lợi nên lượng thu hoạch táo năm nay chỉ đạt 7 ngàn tấn ( táo không thể tồn trữ)
Answers
Answer:
am sorry plz write your question in English
Carey Company owns a plot of land on which burried toxic wastes have been discovered. Since it will require several years and a considerable sum of money before the property is fully detoxified and capable of generating revenues, Carey wishes to sell the land now. It has located two potenital buyers. Buyer A, who is willing to pay $480,000 for the land now, or Buyer B, who is willing to make 20 annual payments of $75,000 each, with the first payment to be made 5 years from today. Assuming that the appropraite rate of interest is 9%, wo whom should Carey sell the land. Show calculations.
Answers
Answer:
Carey should accept buyer A's offer
Explanation:
we need to compare the present values of both proposals:
Present value of proposal A = $480,000
Present value of proposal B:
present value of annuity in 5 years = $75,000 x 9.1285 (PVIFA, 9%, 20 periods) = $684,637.50
present value (today) = $684,637.50 / (1 + 9%)⁵ = $444,967.40