One of your customers is delinquent on his accounts payable balance. you’ve mutually agreed to a repayment schedule of $500 per month. you will charge 1.40 percent per month interest on the overdue balance. if the current balance is $13,000, how long will it take for the account to be paid off?
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One of your customers is delinquent on his accounts payable balance. you’ve mutually agreed to a repayment schedule of $500 per month. you will charge 1.40 percent per month interest on the overdue balance. if the current balance is $13,000. 31.5, long will it take for the account to be paid off.
Information provided:
- Present value=$13,000
- Monthly repayment=$500
- Interest rate = (1.40% or 0.014) per month
- n = number of periods
The formula was the rearrange in systematic way:
PV = PMT x [(1 - / r]
n = -log(1 - (PV x r) / PMT) / log(1 + r)
n = -log(1 - (13000 × 0.014) / 500) / log(1 + 0.014)
= 31.5
As a result, the significance of the long will it take for the account to be paid off are the aforementioned.
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Answer:
2.71 years.
Explanation:
Related Questions
Which of the following statements about the economic value to the customer (EVC) is FALSE? a. EVC for a product is estimated compared with an existing product used by the customer. b. Companies generally attempt to price products to match EVC. c. EVC may be different for different customers. d. EVC is the maximum customers should be willing to pay. e. EVC is calculated as the total life cycle cost or cost of ownership over the entire life of a product.
the c shellsort() function takes an array of gap values as a parameter. the array must contain a gap value of to guarantee proper sorting.
Constant cost industries: a. use large portions of the total supply of specialized resources. b. significantly increase the demand for inputs when expanding output, and as a result, input prices risec. do not use inputs in sufficient quantities that a change in industry output would affect the prices of the inputs. d. are those in which the cost curves of individual firms shift upwards as industry output expands.
People want information communicated quickly and clearly. To make your writing more concise and understandable, avoid flabby expressions, long lead-ins, and unnecessary fillers.a. For the following sentence, choose the best revision.1. I am sending you this letter to inform you that we have experienced an unexpected surprise within our expense sheet, but we are positively certain we will solve it.A) We need to inform you that we have experienced an unexpected surprise with our expense sheet, but we are midway to an end result.B) We have identified a problem with our expense sheet, but we will solve it.C) I am sending you this letter to inform you that we have a problem with our expense sheet, but we are positively certain we have a solution.
B) His instrumentality estimates will be lower and his expectancy estimates will remain the same
C) His expectancy estimates for the next quarter will be lower
D) Neither her expectancy nor instrumentality estimates will change
E) His expectancy estimates for the next quarter will be higher
Answers
Answer:
Option E
His expectancy estimates for the next quarter will be higher
Explanation:
Will Presley's expectancy rate will be higher in the next sales quarter. This is because he feels that the birth of his new baby is instrumental to his his poor sales performance. Now that he feels that factor has been taken out of the way, he expects that there will be a great increase in the next sales quarter.
Answers
Answer:
13.77 years
Explanation:
The maturity period is the period taken for the Bonds' Market Price equals its Face Value.
Calculation of the maturity period :
PV = - $394.47
PMT = $0
YTM = 6.87 %
P/YR = 2
FV = $1,000
N = ?
Using a financial calculator to input the values as above, the number of periods interest is accrued on the bond (N) is 27.54 thus the number of years will be 13.77 (27.54 ÷ 12) .
c. Why is the demand for labor called a "derived demand."
Answers
Answer:
(A)Wages decrease in the long term
Explanation:
(A) The principles of supply and demand applies here.
Higher worker productivity in a particular industry implies increased demand for workers in the industry (short term effect).
Increased supply of workers implies:
1. output per worker increases, resulting in increase in supply of products in the industry. But, the laws of supply and demand comes in, because when supply increases, prices decrease.
That is, the increase in worker productivity may cause a decrease in prices resulting in a decrease in wages since the firm's revenue declined (long term effect).
2. Increase in the supply of workers in the industry with increased in productivity over workers from other industry because of initial increase in wages. This would lead to a decrease in wages because the supply of workers would exceed demand.
(B) The compensation differential is the additional amount of money that a given worker must be offered in order to motivate him to accept a given undesirable job, relative to other jobs that the worker could perform.
(C) This is called a derived demand because it is often based on the demand for products.
For example, when consumers want more of a particular good or service eg clothing, more firms in the industry will want workers that make this product.
Answers
Answer:
First blank: Consumers
Second blank: GDP
Third blank: CPI
Explanation:
The Consumer Price Index is used to measure the basic basket of services and goods that a normal person often buys in order to have a decent quality of life, the GDP includes all goods and services produced, for example all the office equipment, or farm equipment that was produced by a countries economy, the average customer doesn´t need farm equipment nor office equipment that is why it is not taken into account in the Costumer Price Index.
Final answer:
Inflation is measured using the Consumer Price Index (CPI) and the GDP deflator. The CPI measures price changes for a specific basket of goods and services bought by the typical consumer, while the GDP deflator considers all domestically produced final goods and services.
Explanation:
Inflation is typically measured using two indices known as the Consumer Price Index (CPI) and the GDP deflator. The CPI measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Not all goods and services are included in the CPI, it primarily focuses on those sold to typical urban consumers.
On the other hand, the GDP deflator is a measure of the price of all domestically produced final goods and services in an economy including items like farm equipment, which are not included in the CPI. The GDP deflator takes a broader approach and doesn't restrict itself to a fixed basket of goods and services, rather reflects the current composition of output and the prices of all the goods and services currently produced domestically.
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Answers
Answer: George's initial price markup over marginal cost was approximately 41.2% George's desired markup is 45% Since George's initial markup, or actual margin, was Less than his desired margin, raising the price was profitable
Explanation:
a) Price Elasticity of Demand = [(Q1-Q2)/(Q1+Q2)] / [(P1-P2)/(P1+P2)]
= 5000- 4000/4000+ 5000) / 8.50- 9.50 /8.50 ₊9.50 =
1000/8000 / -1/ 18 = 0.125/-0.055 = -2.2
George's initial price markup over marginal cost was approximately
when Marginal cost = $5
b)initial price markup = Price - marginal cost / price = 8.50 - 5.00/ 8.50 = 0.412= 41.2%
C) George's desired margin = 1/absolute value of price elasticity = 1/ 2.2= 0.45= 45%
.
D)Since George's initial markup or actual margin was less than his desired margin, raising the price is profitable.
This is because When the markup is lower than the margin, business is running on a loss, so it is nessesary to increase price.
Final answer:
The price elasticity of demand for George's T-shirts is approximately -1.7, indicating that demand is elastic. The initial markup over the cost price was 70%, but the question doesn't specify the desired markup or if raising the price satisfied that margin.
Explanation:
The price elasticity of demand measures how sensitive the quantity demanded is to a price change. It's calculated as the percentage change in quantity demanded divided by the percentage change in price. In George's case:
- Initial quantity: 5000 T-shirts
- New quantity: 4000 T-shirts
- Initial price: $8.50
- New price: $9.50
So, the percentage change in quantity = (4000-5000)/5000 = -20% and percentage change in price = ($9.50-$8.50)/$8.50 = 11.76%. Therefore, price elasticity of demand = -20%/11.76% = -1.7 (approx.). This indicates that the demand is elastic, meaning quantity demanded is sensitive to price changes.
Regarding the price markup, this is the percentage increase over the cost price. The initial markup = ($8.50-$5)/$5 = 70%. The question didn't specify the desired markup, or if raising the price satisfied the desired margin.
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b. Delia will lose because the second contract win writing.
c. Delta will win because he partially performed and he can demonstrate the agreement by writings.
d. Delia will becuse he's not merchant
Answers
Answer:
a. Della will lose because he did not sign a contract.
Explanation:
The UCC are a set of guidelines that is used for trade transactions to resolve disputes and ensure equity between the buyer and seller.
There are various criteria used to qualify a valid transaction. One of them is that for a non movable asset, it's sale must be under a written contract.
A verbal contract will not suffice and is not binding.
In this scenario where Joe verbally contracts with Delia to sell his farm to Delia, they did not sign a contract and makes a down payment. But Joe decides after several months to sell his farm to Eli.
Since there is no written contract if Delia objects to the second sale she will lose