The value of a 6-month European call option with a strike price of $150 is $0, and the value of a 9-month European call option with a strike price of $150 is also $0.
To calculate the value of an option, we need to determine the expected future stock prices and discount them back to the present using the risk-free interest rate.
For the 6-month call option, there are two possible scenarios over the three 3-month periods: (1) the stock price goes up by 12% in the first period, then down by 12% in the second period, and finally down by 12% in the third period, or (2) the stock price goes down by 12% in the first period, then up by 12% in the second period, and finally up by 12% in the third period. In both scenarios, the final stock price is $100, which is less than the strike price of $150. Therefore, the call option will not be exercised, and its value is $0.
Similarly, for the 9-month call option, there are four possible scenarios over the three 3-month periods: (1) the stock price goes up in all three periods, (2) the stock price goes down in all three periods, (3) the stock price goes up in the first and third periods but down in the second period, or (4) the stock price goes down in the first and third periods but up in the second period. In all four scenarios, the final stock price is $100, which is still less than the strike price of $150. Therefore, the call option will not be exercised, and its value is $0.
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what are the similarities and dissimilarities between traditional and improved oven?.
Answer:
The similarities and dissimilarities between traditional and improved oven is described below in details.
Explanation:
Both varieties of ovens look identical, and both can be gas or electrical. The distinction between them is that the origin of heat under a conventional oven is fixed and rises up from the ground. The heat from a convection furnace is travel by blowers, so the air travels all over the interior of the oven.
In a convection oven, the hotness is scattered equally all nearby the meal. Expert meal makers like convection furnaces because they not only prepare meals precisely, but they prepare them as much as 26 percent quicker than a conventional oven.
why is it important to examine demand relationships
Answer:
together they determine the prices and quantities of most goods and services available in a given market.
Explanation:
Supply and demand have an important relationship because together they determine the prices and quantities of most goods and services available in a given market. According to the principles of a market economy, the relationship between supply and demand balances out at a point in the future.
What is differentiate between variance analysis and sensitivity analysis
The differentiation between variance analysis and sensitivity analysis lies in their purposes, methodologies, and applications. Variance analysis is a technique used in managerial accounting to compare actual performance with budgeted or planned performance.
It identifies the differences, or variances, between the planned and actual results, allowing managers to identify areas that require attention and improvement. Variance analysis typically involves calculating the differences in costs, revenues, or other financial metrics and then analyzing the reasons for these differences.
On the other hand, sensitivity analysis is a statistical method used to assess the impact of varying input parameters on the output of a model or system. It helps decision-makers understand the uncertainty in their models and how different input values can affect the outcome.
Sensitivity analysis is often used in financial modeling, risk management, and engineering to estimate the potential effects of changes in factors such as interest rates, market conditions, or project parameters.
In summary, variance analysis focuses on comparing actual performance with planned performance, identifying areas for improvement, and understanding the reasons for discrepancies.
Sensitivity analysis, conversely, evaluates the impact of varying input parameters on a model or system, helping decision-makers understand the potential effects of changes in these parameters.
Both methods are essential tools for effective decision-making and management, but they serve different purposes and are used in different contexts.
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What are wholesalers
Answer:
Wholesaler is a company that earns money by buying large quantities of goods then selling in bulk to smaller businesses.
Hope this help :)
Answer:
Wholesalers are companies or businesses that buy large quantities of products from other companies, then resell the products in bulk or individually.
Explanation:
Examples; Costco Wholesale & Sam's Club
Which of the following is NOT a part of reviewing and revising the financial plan?
-developing an action plan which identifies ways to achieve the goals
-regularly assessing the financial decisions
-taking a complete review of finances at least once a year
-making priority adjustments which will being financial goals in like with current life situation
Answer:
Developing an action plan which identifies ways to achieve the goals.
Explanation:
Reviewing & Revising the Plan
Involves:
regularly assessing the financial decisions
taking a complete review of finances at least once a year
making priority adjustments which will bring financial goals in line with current life situation
budgeted variable overhead for the year is $150,000. expected activity is 30,000 standard direct labor hours. the actual hours worked were 15,000 and the standard hours allowed for actual production were 18,000. the variable overhead efficiency variance is: group of answer choices $15,000 f. $30,000 f. $14,600 f. none of these $18,000 f.
The variable overhead efficiency variance is $15,000 favorable. Therefore the correct option is option A.
The variable overhead efficiency variance measures the difference between the actual hours worked and the standard hours allowed, multiplied by the variable overhead rate.
The formula for the variable overhead efficiency variance is:
Variable overhead efficiency variance = (Actual hours - Standard hours allowed) x Variable overhead rate
We are given:
Budgeted variable overhead = $150,000
Expected activity (standard direct labor hours) = 30,000
Actual hours worked = 15,000
Standard hours allowed for actual production = 18,000
We can calculate the variable overhead rate as:
Variable overhead rate = Budgeted variable overhead / Expected activity
Variable overhead rate = $150,000 / 30,000 = $5 per standard direct labor hour
Now, we can calculate the variable overhead efficiency variance as:
Variable overhead efficiency variance = (Actual hours - Standard hours allowed) x Variable overhead rate
Variable overhead efficiency variance = (15,000 - 18,000) x $5
Variable overhead efficiency variance = -3,000 x $5
Variable overhead efficiency variance = -$15,000 (favorable)
Therefore, the variable overhead efficiency variance is $15,000 favorable. Therefore the correct option is option A.
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on march 31, 2022, saltbrush, incorporated retired $10,035,000 of bonds, which have an unamortized discount of $514,000, by paying bondholders $9,885,000. what is the amount of the gain or loss on the retirement of the bonds?
The company incurred a loss of $364,000 on the retirement of the bonds.
The amount of the gain or loss on the retirement of the bonds can be calculated as follows: Total amount of bonds retired = $10,035,000 Unamortized discount on bonds = $514,000 Therefore, the carrying value of the bonds (i.e., the book value on the company's balance sheet) is:
Carrying value of bonds = Total amount of bonds - Unamortized discount Carrying value of bonds = $10,035,000 - $514,000 Carrying value of bonds = $9,521,000 The company paid bondholders $9,885,000 to retire the bonds, which means that there was a loss on the retirement of the bonds. The amount of the loss can be calculated as:
Loss on retirement of bonds = Carrying value of bonds - Amount paid to bondholders Loss on retirement of bonds = $9,521,000 - $9,885,000 Loss on retirement of bonds = -$364,000 Therefore, the company incurred a loss of $364,000 on the retirement of the bonds.
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Monetarism in the AD-AS framework suggests that a decrease in velocity produces a __________ shift of the __________ curve. Group of answer choices rightward; AD rightward; SRAS leftward; AD leftward; SRAS
Monetarism in the AD-AS framework suggests that a decrease in velocity produces a leftward shift of the AD curve
What is AD curve?An aggregate demand curve (AD) depicts the relationship between total output demanded (measured in real GDP) and price level (measured as the implicit price deflator).
An aggregate demand curve depicts total domestic spending on goods and services at each price level. An example aggregate demand curve is shown below. The horizontal axis represents real GDP, and the vertical axis represents price level, as in an aggregate supply curve.
As aggregate demand components—consumption spending, investment spending, government spending, and spending on exports minus imports—increase, the aggregate demand curve, or AD curve, shifts to the right. As these components fall, the AD curve will shift back to the left.
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Type the correct answer in the box. Spell all words correctly.
Ideally, what should more than one member of the family contribute to for a better financial position?
A family can have more than one person contributing to the household _______
for a better financial position.
A family can have more than one person contributing to the household income for a better financial position.
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Direction: Stody the following information and answer the question that follows: Ten persons Paul, Karan, Rakshika, Sahil, Tahira, Uma, Veer, Winnie, Ashutosh and Yemel live on five different floors, Each floor has two flats Flat A and flat B. Flat A is exactly the west of fat B Only one person ives in each flat. 1. Sahil ives on the top floor. There are two floors between Sahil and Paul and both of them live in the same flat Rakshika lives to the east of Paul. i1. There is one floor gap between Rakshika and Karan and both of them live in different flats. Iii. Tahira lives immediately above Karan. Winnie lives to the east of Uma but not on the most floor. Neither Veer nor Yemel lives on floor 1 of flat A Veer lives above Yemel. Question: Who lives immediately above Uma? Veer Both Karan and Veer Karan Sahil
The person who lives immediately above Uma is Karan (option c).
Based on the reasoning information, we can deduce the following:
Sahil lives on the top floor.
Sahil and Paul live in the same flat, and there are two floors between Sahil and Paul.
Rakshika lives to the east of Paul.
There is one floor gap between Rakshika and Karan, and they live in different flats.
Tahira lives immediately above Karan.
Winnie lives to the east of Uma, but not on the top floor.
Neither Veer nor Yemel lives on the first floor of Flat A.
Veer lives above Yemel.
Based on this information, we can determine the following:
Sahil lives on the top floor, so he cannot live above Uma.
Winnie lives to the east of Uma but not on the top floor, so she also cannot live above Uma.
Veer lives above Yemel, but we don't know their exact positions.
Karan lives below Tahira.
From the options, the only person who can live immediately above Uma is Karan. Therefore, the answer is Karan (option c).
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Veer lives immediately above Uma based on the arrangement of people and their flats.
Explanation:To solve this question, we first need to arrange the people according to the clues given. Starting from the top floor, Sahil lives. Two floors below will be Paul who lives in the same flat as Sahil. Rakshika lives to the east of Paul, means she lives in the different flat on the same floor. One floor gap between Rakshika and Karan places Karan two floors below Sahil and in a different flat as Rakshika, indicating they live in different flats on the same floor. Tahira lives above Karan, indicating that they are neighbours with Rakshika and Paul.Uma and Winnie live on the same floor, with Uma in the west flat. Based on the remaining spaces, Veer lives above Yemel in the same flat that Veer lives above Uma. Hence, Veer is the one who lives immediately above Uma.
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Is 1st Financial bank legit?
1st Financial Bank, also known as 1st Financial Bank USA, is a regional bank based in South Dakota that offers various financial services including checking and savings accounts, loans, and credit cards. The question of whether 1st Financial Bank is a legitimate bank is an important one for consumers who are considering doing business with the bank.
To answer the question of whether 1st Financial Bank is legit, it's important to look at the bank's regulatory compliance and security measures. Keyword, all banks in the United States are required to follow strict regulations set forth by the federal government, including the Federal Deposit Insurance Corporation (FDIC). This means that 1st Financial Bank must adhere to strict standards for consumer protection, privacy, and security.
Another factor to consider is the bank's reputation and customer satisfaction. Keyword, online reviews, consumer reports, and forums can be a good indicator of the bank's reputation and the experiences of its customers. It's important to take these reviews into account when determining the legitimacy of a bank.
In addition to regulatory compliance and customer satisfaction, it's also important to consider the bank's financial stability. Keyword, this can be determined by looking at the bank's financial statements and ratings from credit rating agencies. A bank with a strong financial position and good credit rating is generally considered to be a safe and reliable option for customers.
In conclusion, 1st Financial Bank is a legitimate bank that is regulated by the federal government and is subject to strict standards for consumer protection, privacy, and security. Keyword, to determine whether the bank is a good fit for you, it's important to consider factors such as regulatory compliance, customer satisfaction, and financial stability. As with any financial institution, it is always recommended to do thorough research and consult with a financial advisor before making any decisions.
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what do you pore first the cereal or the milk? True or false.
The amount that can be distributed to an individual partner during the liquidation process while ensuring that partner has a safe capital balance can be referred to as a _____ payment.
The amount that can be distributed to an individual partner during the liquidation process while ensuring that the partner has a safe capital balance can be referred to as a "draw" or "draw payment."
A draw payment is a distribution made to a partner during the liquidation of a partnership. It is intended to compensate the partner for their capital investment and their share of the partnership's profits.
To determine the safe capital balance for a partner, you need to calculate their capital account balance and compare it to their share of the partnership's losses.
Here's how you can calculate the safe capital balance for a partner:
1. Start by determining the partner's capital account balance. This includes their initial investment, any additional contributions made, and their share of the partnership's profits.
2. Next, calculate the partner's share of the partnership's losses. This can be done by multiplying their ownership percentage by the total losses incurred by the partnership.
3. Subtract the partner's share of the losses from their capital account balance. This will give you the safe capital balance for the partner.
For example, let's say a partner initially invested $10,000 in a partnership and has a 30% ownership stake. The partnership incurs losses of $5,000. Here's how you would calculate the safe capital balance for this partner:
1. Partner's capital account balance = $10,000 (initial investment)
2. Partner's share of the losses = 30% x $5,000 = $1,500
3. Safe capital balance = $10,000 - $1,500 = $8,500
In this case, the partner can safely receive up to $8,500 as a draw payment during the liquidation process without having a negative capital balance. Any amount above $8,500 would result in a deficit in their capital account.
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When gathering information, which of the following tasks might you need to
perform?
A. Seek out ideas from others and share your own ideas
О
B. Fill out forms, follow procedures, and apply math and science
C. Apply standards, such as measures of quality, beauty, usefulness,
or ethics
D. Study objects, conduct tests, research written materials, and ask
questions
Answer:
The answer is D
Explanation:
To gather information you have to study objects and conduct tests on them to gather results.
when entering into an income based repayment plan option, a student must contact their ________ to select the repayment plan option
when entering into an income-based repayment plan option, a student must contact their student loan facilitator to select the repayment plan option.
What is income-based repayment?
A repayment strategy known as income-based repayment, or IBR, bases loan instalments on a proportion of the borrower's discretionary income rather than the whole amount owing. Midway through 2009, IBR initially became accessible.
One of four income-driven repayment schemes is IBR. Pay-As-You-Earn Repayment (PAYE), Income-Contingent Repayment (ICR), and Revised Pay-As-You-Earn Repayment are the others (REPAYE). For debtors who don't qualify for PAYE and are worried about the marital penalty and the absence of a payment maximum in REPAYE, IBR is typically a viable alternative.
IBR bases monthly student loan repayments on 15% of discretionary income. The amount by which adjusted gross income (AGI) surpasses 150% of the poverty line is referred to as discretionary income.
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answer the question based on the demand and cost schedules for a monopolistically competitive firm given in the table below. price quantity demanded total cost output $ 20 1 $ 10 1 18 2 20 2 16 3 29 3 14 4 36 4 12 5 40 5 10 6 42 6 what will be the economic profit (or loss) for this monopolistically competitive firm at the profit-maximizing level of output? multiple choice $60 $56 $20 $40
The monopolistically competitive firm at the profit-maximizing level of output C. $20.
To determine the economic profit (or loss) for a monopolistically competitive firm at the profit-maximizing level of output, we must first find the profit-maximizing quantity. This is where the difference between total revenue (TR) and total cost (TC) is at its greatest.
Let's calculate the total revenue (TR) for each level of output by multiplying the price (P) by the quantity demanded (Q):
1. TR = $20 x 1 = $20
2. TR = $18 x 2 = $36
3. TR = $16 x 3 = $48
4. TR = $14 x 4 = $56
5. TR = $12 x 5 = $60
6. TR = $10 x 6 = $60
Now, let's find the profit (π) for each level of output by subtracting the total cost (TC) from the total revenue (TR):
1. π = $20 - $10 = $10
2. π = $36 - $20 = $16
3. π = $48 - $29 = $19
4. π = $56 - $36 = $20
5. π = $60 - $40 = $20
6. π = $60 - $42 = $18
Based on the calculations above, we can see that the profit-maximizing level of output occurs at a quantity of either 4 or 5, both of which result in an economic profit of $20. Therefore, the correct option is C.
The question was incomplete, Find the full content below:
answer the question based on the demand and cost schedules for a monopolistically competitive firm given in the table below. price quantity demanded total cost output $ 20 1 $ 10 1 18 2 20 2 16 3 29 3 14 4 36 4 12 5 40 5 10 6 42 6 what will be the economic profit (or loss) for this monopolistically competitive firm at the profit-maximizing level of output? multiple choice
A. $60
B. $56
C. $20
D. $40
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state law of diminishing returns
Answer:
see below
Explanation:
The law of diminishing marginal returns indicates that in every production process, adding one more input while holding the others constant will result in the overall decrease in output.
According to this law, adding one more production unit diminishes the marginal returns, and the average production cost increases. Marginal returns refer to the benefits associated with the production of an extra unit.
The gain derived from the use of more input while keeping all other factor constant decreases as production increases. For example, employing more workers while all other variables remain constant will result in reduced labor productivity.
A business receives $5 000 for Rent
Revenue and deposits this amount into its
Bank account. How will this transaction
be recorded?
Answer: Dr Bank $5 000; Cr Rent Revenue $ 5 000
Explanation:
From the information given in the question, we are informed that a business receives $5 000 for Rent
Revenue and deposits this amount into its bank account, this transaction will be recorded thus:
Debit Bank $5000
Credit Rent Revenue $5000
The correct journal entry is written above with regards to the transaction.
What did researchers observe about conditions in tanzanian villages before economic liberalization and after?
Researchers observed that in Tanzanian villages before economic liberalization and after, there is no real change in terms of developmental levels, income, education, and business.
Under pressure from the IMF and World Bank, Tanzania liberalized its economy in the mid-1980s. It deregulated its agricultural sector, relaxed control on prices, ended subsidies, and opened up space for private players.
Despite the promise of global financial institutions that economic liberalization would boost growth and therefore employment, and that agriculture would also benefit from this, there is no real transformation on the ground. Instead, labor productivity and agricultural yields have gone down. Food availability and nutrition remains an entrenched problem.
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You can compute a company's "net income" by
subtracting income tax from
A. net worth
B. sales tax
C. gross sales
In a perfectly competitive market, the inverse demand curve is and the inverse supply curve is when this market is in equilibrium, what is the consumer surplus? (round only your final answer to one decimal place if necessary)
When a market is in equilibrium, it is allocative efficient (meets societal needs), and the sum of consumer and producer surpluses, or total economic surplus, is the maximised.
The surpluses below depicts this at the point where the quantity required equals the quantity delivered (Q1). Setting inverse supply equal to inverse demand and solving for Q yields the market equilibrium. 8+2Q = 80 - Q, therefore 72=3Q, resulting in Q=24. The price would be 8+2(24) = 56. MSB=80-2Q, therefore the socially ideal consumption point would be where the inverse supply equals MSB, or 8+2Q = 80-2Q, so 72=4Q or Q=18.
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Look around your room or in your house and find five different objects and identify where they were made. In at least 100 words, discuss how you have personally benefited from trade and provide at least 2 examples. Identify 1 positive impact of trade on your life and 1 way that you have been negatively impacted also.
Answer:
As I look around my house I find a pocket watch that has helped me tell time, a handy knife that saved my but while camping, a flashlight that helps me see in the dark, and books that I read to allow my mind to wonder. I’ve even got a feather pen I use to write down important notes. Each of these items required trade in order to receive. I traded an old knife for the pocket watch, a few books for new books, and so on with the other items. Trading is a form of giving to receive and can be used to get someone you want from someone else who wants something you have. However trading isn’t that easy due to the fact of poor trades such as a trade I once did for a hammer, I traded a spool of wire for the hammer only to realize that I needed the wire more then the hammer. Not all trade is bad though because it can also benefit you by getting you something better and even someone else something they need. That is the importance of trade.
Explanation:
A scale drawn on the map shows that 1 inch represents 40 miles. If two cities are 2.5 inches apart on the map, what is the distance between them in real life?
A. 100 Miles
B. 90 Miles
C. 70 Miles
D. 60 Miles
If two cities are 2.5 inches apart on the map, 60 Miles is the distance between them in real life. Thus, its D.
What is a map?A map is a sign that emphasizes the connections between various components of a space, such as locations, themes, or objects. Some maps are dynamic or interactive, while others are static and attached to paper or another long-lasting material.
Maps can represent any location, actual or imagined, without respect to context or scale, as seen in brain mapping, DNA mapping, or computer routing protocol mapping, despite the fact that they are most frequently employed to describe geography.
The space that is being mapped can be two dimensional, like the earth's surface, three dimensional, like the earth's interior, or further abstract environments of any dimension, like those that emerge when modeling phenomena with lots of independent variables.
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Explain how internal business changes affect the company’s primary business activities.
When a commercial enterprise modification its inner structure, the number one commercial enterprise sports ought to extrude in response. Human-sources control and operations are affected dramatically internal business changes affect the company’s primary business activities.
New process descriptions, new tasks, and probably new techniques are involved. New techniques of dealing with data can be required, too. Financial evaluation is used to assess monetary trends, set monetary policy, construct long-time period plans for commercial enterprise activity, and pick out initiatives or businesses for investment. This is performed via the synthesis of monetary numbers and data.
Outside commercial enterprise modifications have an effect on the number one commercial enterprise sports; remember the outcomes of a merger among big corporations. the dreams of the 2 corporations extrude as the 2 businesses end up one. this indicates that the strategic control of the 2 corporations combines.
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strictly speaking, the price-earnings ratio assumes that firm value is the: a. future value of a constant stream of expected future earnings, discounted at a constant expected future discount rate. b. present value of a constant stream of expected future earnings, discounted at a constant expected future risk-free rate. c. present value of a constant stream of expected future earnings, discounted at a constant expected future discount rate. d. future value of a constant stream of expected future earnings, discounted at a constant expected future risk-free rate.
Present value of a constant stream of expected future earnings, discounted at a constant expected future discount rate. Option c is correct choice.
The price-earnings ratio (P/E ratio) is a financial metric that is used to evaluate the relative value of a company's stock. It is calculated by dividing the market price per share by the earnings per share (EPS). The P/E ratio assumes that the firm value is the present value of a constant stream of expected future earnings.
In other words, it assumes that the value of a company is determined by the present value of the earnings it is expected to generate in the future. These future earnings are discounted at a constant expected future discount rate, which reflects the time value of money and the risk associated with the company's earnings.
By using the present value of future earnings and a discount rate, the P/E ratio provides a way to compare the current market price of a company's stock to its expected future earnings, allowing investors to assess whether the stock is overvalued or undervalued. Option c is correct choice.
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#1 You are driving down the highway when one of your tires suddenly blows out. You should
Pump your brakes rapidly, and steer your vehicle to control any skids.
Avoid using your brakes. Slow down gradually and concentrate on steering.
Press hard on your brake pedal and stop as quickly as you can.
dakari, ceo of a successful medical supply company, is constantly reading press releases and news articles about his competition. he regularly checks information about new competitive products and visits trade shows to study his competition. dakari is
In putting in so much effort to find out about his competition and the products they offer, Dakari is most likely a. evaluating opportunities
There are several ways to learn about new opportunities in the market and some of them include:
Finding out what your customers want Finding out what the trends your industry is moving towardsFinding out what your competitors are up toYour competitors will constantly be trying to make better products in order to capture more market share. You can therefore look at what they are doing to find out what new thing you can be doing.
This is what Mr. Dakari is doing so we can conclude that he is evaluating opportunities.
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Multiple choice.
1) what is it called when someone buys and sells stocks constantly, checking by the minute instead of longer term?
A- blue-chip trading
B- night trading
C- conservative trading
D- day trading
2) what does owning stock in a company actually mean?
A- a share of ownership in the company
B- lending money to the company
C- both a and b
D- none of the above
3) what category of investments is considered to be the highest risk?
A- financial security
B- growth
C- speculation
D- safety and income
4) what does “liquidity” mean as far as a persons money in an account?
A- how much it is worth
B- how long you’ve had it in the account
C- how easily and quickly it can be withdrawn
D- none of the above
6) what is a possible negative thing about having a large amount of money in a regular savings account
A- the interest earned may be less than the inflation rate
B- it takes a while to take money out
C- the interest earned may be more than the inflation rate
D- none of the above
7) what is the total amount of money that you earn called?
A- net pay
B- take home pay
C- gross pay
D- none of the above
8) which of the following is NOT a service of checking accounts?
A- stop payment orders
B- debit cards
C- online checking
D- money market interest
9) what could possibly get you in trouble with a checking account?
A- not reconciling your balance periodically
B- ordering too many check blanks
C- overdraft protection
D- none of the above
10) what does the fdic insure?
A- bonds
B- stock market holdings
C- savings account
D- none of the above
Please help me
Answer:
1 d
2 c
3 a
4 b
5 c
6 a
7 b
8 d
9 a
10 a
People commonly use credit cards, auto loans, home mortgages to finance their purchases *
A. True
B. False
Answer:
the answer to this question is true
Answer:
People use credit cards for daily purchases. I think the question is asking for finance a purchases which will conclude it's a big purchases so YES people will use credit and assists to finance purchases
Explanation:
The best answer is A. Ture
assume mortgage rates increase to 7.5 percent and you borrow $329,000 for 30 years to purchase a house. what will your loan balance be at the end of the first 15 years of monthly payments?
Assume mortgage rates increase to 7.5 percent and you borrow $329,000 for 30 years to purchase a house. The loan balance at the end of the first 15 years of monthly payments would be approximately $228,228.32.
Assuming a fixed-rate mortgage with monthly payments, we can use the formula for the remaining loan balance after t payments:
B = L [(1 + r)ⁿ - (1 + r)ᵃ] / [(1 + r)ⁿ-1]
where:
L = loan amount = $329,000
r = monthly interest rate = 7.5% / 12 = 0.625%
n = total number of payments = 30 years * 12 months per year = 360
a = number of payments made = 15 years * 12 months per year = 180
Plugging in the values, we get:
B = $329,000 [(1 + 0.00625)³⁶⁰ - (1 + 0.00625)¹⁸⁰] / [(1 + 0.00625)³⁶⁰ -1]
B = $228,228.32
Therefore, the loan balance at the end of the first 15 years of monthly payments would be approximately $228,228.32.
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