5. In the October 23, 1999 issue, the Economist reports that the interest rate per annum is 5.93% in the United States and 70.0% in Turkey. Why do you think the interest rate is so high in Turkey? Based on the reported interest rates, how would you predict the change of the exchange rate between the U.S. dollar and the Turkish lira?

Answer:

The net realizable value of Miller's receivables at the end of Year 2 was:  $42,010

Explanation:

Open a Trade Receivable Account as follows :

Debits :

Revenue $133,000

Totals      $133,000

Credits:

Cash        $87,000

Balance   $46,000

Totals      $133,000

Note that Allowance for Doubtful debts is estimated at 3% of the Company`s Sales on Account

Allowance for Doubtful debts = $133,000 × 3%

                                                 = $ 3, 990

Net realizable value of Miller's receivables

Trade Receivable Balance                $46,000

Less Allowance for Doubtful Debts    $3,990

Trade Receivables                              $42,010

Final answer:

The net realizable value of Miller Company's receivables at the end of Year 2 is calculated by estimating bad debt and subtracting it from the ending accounts receivable. The estimated bad debt is 3% of sales, leading to a net realizable value of $42,010.

Explanation:

The question revolves around calculating the net realizable value of accounts receivable for the Miller Company at the end of Year 2. First, we need to calculate the estimated bad debt. The company estimates that 3% of its sales on account will be uncollectible, which equates to $133,000 * 0.03 = $3,990. After subtracting the cash collected from receivables, $133,000 - $87,000, we get ending accounts receivable of $46,000. Finally, we deduct the estimated bad debts from ending accounts receivable to obtain the net realizable value, which is $46,000 - $3,990 = $42,010.

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Answer:

The government needs to revamp the Social Security program to make it sustainable.

Explanation:

A normative economic statement is always a suggestion for the economy, whereas a descriptive economic statement is a statement providing information, as it states the facts and do not provide any suggestion.

Here, in given instance the statement,

Government needs to improve or form the Social Security Program, so that the program is sustainable, is a suggestion and not a fact.

Thus, it is a normative economic statement.

Final answer:

Among the provided statements, the one suggesting the government needs to revamp the Social Security program to be sustainable is the normative economic statement due to its prescription for improvement.

Explanation:

Normative economics involves judgments and prescriptions for economic policies or outcomes. Among the provided statements, 'The government needs to revamp the Social Security program to make it sustainable' is a normative economic statement. This statement is normative because it is based on value judgments and expresses an opinion on how things should be. It suggests a course of action that ought to be pursued to improve the Social Security program and doesn't merely describe factual aspects of the economy like the rest of the statements do.

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The mathematical sentence that can represent most accurately the calculation that Crystal wants to perform is;

121 compact discs / 25 discs per box = 4.84 boxes

Rounded up to 5 boxes.

What is an Equation?

An equation is the mathematical sentence that represents the calculation that needs to be performed, the equation completely explains the problem and then gradually it is solved step by step.

In the case Crystal wanted to set 121 discs in boxes with a capacity of 25 discs, so simply 121 discs are divided by the number of discs a box can hold, which results in the number of boxes needed which is Five.

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Answer:

On January 1st, the $3,000 could buy 10,000 Swiss francs (3,000/0.3).

On June 1st, the $3,000 would buy 7,500 Swiss francs (3,000/0.4).

Explanation:

On January 1st, each Swiss francs could only purchase $0.30 while on June 1st, each Swiss francs could purchase $0.40.

These show that the Swiss francs had appreciated in value relative to the US Dollars with a positive change of 33%.  Therefore, the dollar had weakened against the Swiss francs by the same rate.

Answer:

7500 Swiss francs

Explanation:

Working

January 1, Swiss francs = $0.3

$3000 will by 3000/0.3 = 10,000 Swiss francs.

June 1 , Swiss Francs = $ 0.4

$3000 will buy 7500 Swiss francs.

This also mean that in January 3.33 Swiss francs will buy 1 $

In June 1 , 2.5 Swiss francs will buy one dollar.

This shows that Swiss francs has appreciated in value against dollar over the months

Answer:

c. Internal Service Fund

Explanation:

Internal Service Fund -

It refers to the sum of amount required to track the motion of any goods and services from one department to another , is referred to as internal service fund .

The amount spend on the internal service fund is used to determine the complete cost of providing the services and goods .

For example , maintenance is an example of the internal service fund .

Hence , from the given information of the question ,

The correct answer is c. Internal Service Fund .

Answer:

It will take 6,534.31 hours per year for the solar panels to operate to enable this project to break even

Explanation:

Discount rate = 30% = 0.3

Looking at one hour of operation in each year = 200 kW x $0.30 Kw/hr

= $60 value of electricity per year

Compound interest factor for a discount rate of 30% = 3.3158

(taken from compound interest factor table or computed using formula ∑1/(1+r)^t , where r = 30%, and t = 1 to 30)

Present value of operating the solar panels for 1 hour per year = 60 × 3.3158 = $ 198.95

For break even it would need to run = 1.3 million ÷ 198.95

= 6,534.31 hours per year

The solar panels need to operate for approximately 236,364 hours per year to enable this project to break even.

To determine the number of hours per year the solar panels need to operate to break even, we can calculate the present value of operating the solar panels for 1 hour per year over the 20-year lifespan of the panels.

The annual operating cost is $0.30 per kWh, and the capacity of the solar panels is 200 kW. So, for each hour of operation, the cost is:

Cost per hour = 200 kW * $0.30/kWh = $60

Now, we'll calculate the present value of this cost over 20 years at a 30% discount rate:

PV Cost = $60 / ≈ $5.50

The university spent $1.3 million upfront to install the panels. To break even, the present value of operating the panels should cover this cost:

$1,300,000 = $5.50 * X

Where X is the number of hours per year the panels need to operate. Solving for X:

X ≈ $1,300,000 / $5.50 ≈ 236,364 hours per year.

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