You will have made approximately 148.53 payments when your account balance reaches $33,000. Rounding this to two decimal places, the final answer is 148.53 payments.
To determine the number of payments required to reach a balance of $33,000, we need to use the future value of an annuity formula.
The formula for the future value of an annuity is:
FV = P * ((1 + r)^n - 1) / r
Where:
FV = future value of the annuity
P = monthly payment
r = interest rate per period (in this case, 9.8% divided by 12 months)
n = number of periods
In this case, we have:
FV = $33,000
P = $330
r = 9.8% / 12 = 0.98% (in decimal form)
n = number of payments
Now we can plug in the values and solve for n:
$33,000 = $330 * ((1 + 0.098/12)^n - 1) / (0.098/12)
Simplifying the equation, we get:
100 = ((1 + 0.008166)^n - 1) / 0.008166
To solve for n, we can use logarithms:
log((1 + 0.008166)^n - 1) / 0.008166 = log(100)
n * log(1 + 0.008166) = log(100) * 0.008166
n = log(100) * 0.008166 / log(1 + 0.008166)
Calculating this, we find:
n ≈ 148.53
Therefore, you will have made approximately 148.53 payments when your account balance reaches $33,000. Rounding this to two decimal places, the final answer is 148.53 payments.
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Which of the following is NOT true about a Chapter 13 bankruptcy?
A. The bankruptcy court supervises the debtor's plan for the payment in a Chapter 13 bankruptcy case.
B. Chapter 13 is only available to corporations, partnerships, and LLCs.
C. Chapter 13 petitions are usually filed by individual debtors who do not qualify for Chapter 7 liquidation bankruptcy and by homeowners who want to protect nonexempt equity in their residence.
D. Chapter 13 enables debtors to catch up on secured credit loans, such as home mortgages, and avoid repossession and foreclosure.
E. Chapter 13 permits a debtor to propose a plan to pay all or a portion of the debts owed in installments over a specified period of time
Chapter 13 is only available to corporations, partnerships, and LLCs is NOT true about a Chapter 13 bankruptcy.
What is Chapter 13 Bankruptcy?
A chapter 13 bankruptcy is also known as a wage earner's plan, which enables individuals with regular income to establish a plan to repay all or part of their debts. Under this chapter, the debtor proposes a repayment plan that outlines how to pay creditors over a 3 to 5 year period. During this time, a trustee works with the debtor to distribute funds among the creditors. The bankruptcy court supervises the debtor's plan for the payment in a Chapter 13 bankruptcy case is true about a Chapter 13 bankruptcy.
Chapter 13 petitions are usually filed by individual debtors who do not qualify for Chapter 7 liquidation bankruptcy and by homeowners who want to protect nonexempt equity in their residence is true about a Chapter 13 bankruptcy. Chapter 13 enables debtors to catch up on secured credit loans, such as home mortgages, and avoid repossession and foreclosure is true about a Chapter 13 bankruptcy. Chapter 13 permits a debtor to propose a plan to pay all or a portion of the debts owed in installments over a specified period of time is true about a Chapter 13 bankruptcy.
In conclusion, Chapter 13 is NOT only available to corporations, partnerships, and LLCs. Instead, it enables individuals with regular income to establish a plan to repay all or part of their debts in a 3- to 5-year period.
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Define The Strategies Organizations Use To Compete In The Global Marketplace.Paragraph Answer Question
In today’s dynamic and rapidly changing business environment, the global marketplace has become increasingly competitive. Hence, the need for organizations to adopt effective strategies to compete in the global marketplace.
This means that organizations must constantly evaluate and redefine their competitive strategies in order to be successful. To compete effectively in the global marketplace, organizations often adopt several strategies that focus on improving their core competencies. Some of the common strategies adopted by organizations to compete in the global marketplace include product differentiation, cost leadership, and focus strategy.Product differentiation is a strategy that emphasizes on creating a product or service that is unique and distinctive. This helps organizations to differentiate their products from competitors and gives them a competitive advantage. For example, Apple is a company that has successfully differentiated its products from its competitors through its unique designs, innovative features, and user-friendly interfaces. Cost leadership is a strategy that involves reducing costs and prices to gain a competitive advantage.
In conclusion, organizations must constantly evaluate and redefine their competitive strategies to remain successful in the global marketplace. The strategies that organizations use to compete in the global marketplace are product differentiation, cost leadership, and focus strategy.
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What are the commonalities between an angel investor and a venture capitalist?
They both are former entrepreneurs who have launched and harvested their own ventures.
They both have funding and a focus on lending money to start-up and emerging companies.
They both are invested for a long period of time (at least 5 years) in startup companies.
They both provide funding at all stages of the growth of startup firms.
They both have funding and a focus on lending money to start-up and emerging companies.
The commonalities between an angel investor and a venture capitalist include being former entrepreneurs who have launched and harvested their own ventures, having funding and a focus on lending money to start-up and emerging companies, being invested for a long period of time (at least 5 years) in startup companies, and providing funding at all stages of the growth of startup firms.
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MapMaster for Chapter 3 To access the MapMaster tool follow the instructions below. **Tip be careful with the zoom, it sticks and can lock up the tool. 1. Click on MyLab and Mastering in the table of contents on the left-hand side. 2. Under "Student Links" click more, then click "Study Area". 3. A new tab will open with the Pearson Study Area. On the left-hand side in the table of contents, click on MapMaster 2.0. Then click on the blue button that says "MapMaster 2.0." A new tab will open with the MapMaster tool. Click on the green arrow on the left (green tab) this opens the selection menu. Follow the instructions below. 4. Under "Choose a theme" select: Physical Environment. Under "Refine by Geography" select: all geographies. Different layers will appear in a list below. Select "Sea-Surface Temperature Anomalies El Niño" and then add data layer to map. Make sure the legend on the right is open and that all boxes have checks. This layer shows sea-surface temperature anomalies during the El Niño phase. The anomaly is how many degrees Celsius above or below the average temperature it is during an El Niño. 5. Now scroll down the list on the left and select "Sea-Surface Temperature Anomalies La Niña" from the menu and click the option to split map window. You should now see two maps, one with El Niño SST anomaly and one with La Niña SST anomaly. Take a screen shot of the maps and put them into a word document and answer the questions below. Save the word.doc and upload to this assignment. Questions: 1. During the El Niño phase which region of the ocean has the highest temperature anomaly? The warmest temperature before the average is added, just from the anomaly map. 2. How much warmer than normal is this region during the El Niño phase? 3. How much cooler is the Pacific Ocean at 160° W during La Niña than during El Niño? 4. Does El Niño or La Niña affect a larger area? Describe the regions that have higher and lower temperatures during a La Niña. 5. Given that there are better fishing conditions when there are cool upwelling currents off of the South American coast, describe fishing conditions during an El Niño and a La Niña.
MapMaster tool is used to analyze and study geography data of a particular region or place.
1. The region having the highest temperature anomaly during the El Niño phase is the equatorial Pacific.2. The region is almost 3.0 °C warmer than normal during the El Niño phase.3. The Pacific Ocean at 160° W during La Niña is 2.0 °C cooler than during El Niño.4. La Niña affects a larger area. During a La Niña, the regions that have higher temperatures are the Pacific coast of South America, coastal Ecuador, and coastal Peru.
On the other hand, the regions that have lower temperatures are the equatorial region of the Pacific Ocean.5. During an El Niño, there are poor fishing conditions as upwelling of the cool nutrient-rich water off the coast of South America is inhibited. Whereas during a La Niña, the upwelling of cool nutrient-rich water is increased, leading to better fishing conditions.
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The yield to maturity of a $1,000 bond with a 6.8% coupon rate, semiannual coupons, and two years to maturity is 8.4%APR, compounded semiannually. What is its price? The price of the bond is $ (Round to the nearest cent)
To calculate the price of the bond, we need to use the present value formula. The formula for the present value of a bond is: Price = (C / (1 + r)^n) + (F / (1 + r)^n). The price of the bond is $924.94
Where:
C = coupon payment
r = yield to maturity (expressed as a decimal)
n = number of periods
In this case, the bond has a $1,000 face value (F), a 6.8% coupon rate (C), semiannual coupons, two years to maturity, and an 8.4% APR yield to maturity (r).
First, we need to calculate the coupon payment. Since the coupon is paid semiannually, we need to divide the annual coupon rate by 2:
Coupon payment = 0.068 * $1,000 / 2 = $34
Next, we need to convert the yield to maturity from APR to a decimal and divide it by 2 to match the semiannual coupon payments:
Yield to maturity (r) = 8.4% / 2 = 0.042
Now, we can calculate the price of the bond:
Price = ($34 / (1 + 0.042)^4) + ($1,000 / (1 + 0.042)^4)
Simplifying the equation:
Price = $32.1426 + $892.7946
Rounding to the nearest cent, the price of the bond is $924.94.
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Why might firms choose to pursue internationalisation? Identify up to five major motivations for expanding overseas. Classify these motivations as ‘strategic’ or ‘reactive’ and provide an example of each.
Internationalisation is the procedure of extending a firm's commercial activities overseas. The procedure of internationalisation has become more popular over time as businesses have found the benefits of trading in foreign markets. Firms can grow their businesses through internationalisation, and this can be accomplished in a variety of methods.
We will outline five reasons why firms choose to pursue internationalisation. Strategic and reactive motives are the two types of motivations.
1. Increase Sales and Revenue-Strategic Motivation : This is the primary reason why most businesses engage in internationalisation. When businesses go overseas, they expect to increase sales and profits by expanding their customer base beyond their home country.
2. Access to New Markets-Strategic Motivation : When businesses explore new markets, they are likely to find a broader range of clients who are interested in their goods and services. As a result, firms can benefit from an increase in profits and growth potential in new areas where there is an unmet need.
3. Diversification of Business Portfolio-Strategic Motivation : A company's economic performance is tied to the products and services it provides, as well as the countries in which it operates. To reduce their reliance on domestic operations, businesses may decide to diversify their offerings by offering goods and services to a broader range of customers in different nations.
4. Resource Acquisition-Reactive Motivation : When businesses expand into other countries, they may gain access to a wider range of resources, including raw materials, human resources, and intellectual capital.
5. Competitive Advantage-Reactive Motivation : When businesses enter into new markets, they may gain access to new technologies, processes, and methods that they can use to their advantage. As a result, businesses can enhance their competitiveness by providing improved products and services, lowering costs, or increasing quality.
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The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows: 1 2 3 4 5 Year Mileage 3,050 3,950 3,450 3,850 3,700 a) Using a 2-year moving average, the forecast for year 6 = 3775 miles (round your response to the nearest whole number). b) If a 2-year moving average is used to make the forecast, the MAD based on this = 83 miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.) c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.40 and 0.60 (the weight of 0.60 is for the most recent period) = 3760 miles (round your response to the nearest whole number). The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.40 and 0.60 = 116.7 miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.) d) Using exponential smoothing with α = 0.30 and the forecast for year 1 being 3,050, the forecast for year 6 = miles (round your response to the nearest whole number).
The forecast for year 6 using a 2-year moving average is 3,775 miles, with a Mean Absolute Deviation (MAD) of 75 miles. The forecast for year 6 using a weighted 2-year moving average with weights of 0.40 and 0.60 is 3,790 miles, with a MAD of 90 miles.
A) Using a 2-year moving average, the forecast for year 6 is calculated by taking the average of the mileage for years 4 and 5.
Average = (3,850 + 3,700) / 2 = 3,775 miles (rounded to the nearest whole number).
b) To calculate the Mean Absolute Deviation (MAD) based on the 2-year moving average forecast, we need to compare the forecasted values with the actual values for years 4 and 5.
Forecasted values: 3,775, 3,775
Actual values: 3,850, 3,700
Absolute Deviations: |3,775 - 3,850| = 75, |3,775 - 3,700| = 75
Mean Absolute Deviation (MAD) = (75 + 75) / 2 = 150 / 2 = 75 miles.
c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.40 and 0.60 is calculated as follows:
Forecast = (0.40 * mileage year 5) + (0.60 * mileage year 4)
Forecast = (0.40 * 3,700) + (0.60 * 3,850)
Forecast = 1,480 + 2,310
Forecast = 3,790 miles (rounded to the nearest whole number).
To calculate the Mean Absolute Deviation (MAD) for the weighted 2-year moving average forecast, we compare the forecasted value with the actual value for year 5.
Forecasted value: 3,790
Actual value: 3,700
Absolute Deviation: |3,790 - 3,700| = 90
Mean Absolute Deviation (MAD) = 90 miles.
d) Using exponential smoothing with α = 0.30 and the forecast for year 1 being 3,050, we can calculate the forecast for year 6.
Forecast = α * (actual year 5) + (1 - α) * (previous forecast)
Forecast = 0.30 * 3,700 + 0.70 * 3,050
Forecast = 1,110 + 2,135
Forecast = 3,245 miles (rounded to the nearest whole number).
Therefore, the forecast for year 6 using exponential smoothing is 3,245 miles.
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Which of the following is an effective way to use critical thinking in business? Accept new information only when it matches my current thinking Expand my level of self-awareness by asking appropriate questions (both of the above) (none of the above)
Critical thinking involves the careful and objective process of assessing a situation and making informed decisions. It requires evaluating a situation, identifying problems, and considering different perspectives to find suitable solutions.
In the context of business, critical thinking plays a crucial role. One effective way to utilize critical thinking is by expanding self-awareness through the use of appropriate questioning. By asking relevant questions, individuals can gain a deeper understanding of themselves, their biases, and their assumptions. This self-awareness enables them to approach business challenges with a more open and objective mindset.
Thus, expanding one's level of self-awareness through asking appropriate questions is a valuable approach to using critical thinking in business.
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Tom is a resident for tax purposes. He works full-time in a multinational company. His annual gross salary is $63,000. This year his total deductions calculated are$5250, the tax offset is calculated as $420. Tax withheld by the employer is $15570. How much tax does Tom need to pay to the ATO?
Tom, who is a resident for tax purposes, works full-time in a multinational company, and his annual gross salary is $63,000. He has total deductions calculated at $5,250, tax offset at $420, and tax withheld by his employer is $15,570. The correct option is Option B.
To calculate the amount of tax that Tom needs to pay to the Australian Taxation Office (ATO), the following steps should be considered: First, we need to calculate their total taxable income of Tom by subtracting total deductions from the gross salary of Tom.Net Taxable Income = Gross salary - total deductions = $63,000 - $5,250 = $57,750. Next, we need to calculate the tax payable by Tom on the net taxable income. The tax payable can be calculated by using the income tax rates and the tax brackets.Tax Bracket Tax Rates Tax Thresholds $0 – $18,2000% $018, 201 – $45,00019% $18,200 $45,001 – $120,000 32.5% $45,000 $120,001 – $180,000 37% $120,000 $180,001 +45% $180,000.
The tax is payable on the net taxable income of Tom is:$5,092.5 = $16,480 x 0.325 + $420 - $15,570 ($16,480 is calculated as $57,750 - $45,000).
So, Tom has to pay $5,092.50 to the Australian Taxation Office. Hence, the correct option is Option B.
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Mr & Mrs Boss operate a popular transport business in Darwin through a company called ‘Cash R Us Pty Ltd’. Mrs Boss is a director of the company and Mr Boss is also a director and secretary of the company. The shareholders in the company are:
Mr&Mrs Boss 50%; and
Mr Daniels 50%.
Mrs Boss goes to Eastside Bank where ‘Cash R Us Pty Ltd’ has its accounts and asked to borrow $500,000. Eastside Bank has been the company’s banker for many years and the bank manager knows Mr & Mrs Boss reasonably well.
Mrs Boss tells the bank manager that she wants the money to invest in a pine plantation which would give the company substantial tax benefits. The bank manager thinks this is rather odd but makes no further enquiries and agrees to lend the money as long as it can take security over the company’s major asset which is the building from which ‘Cash R Us operates from.
Mrs Boss obtains the loan and mortgage documents from the bank. She affixes the common seal of Go Go transport Pty Ltd and forges her husband’s signature as secretary. The bank advances the money to Mrs Boss’s personal account.
Mrs Boss invests the money, however the pine plantation was a scam and never existed. Mrs Boss did not undertake any research into the pine plantation and relied solely on her friend for advice (her friend had no experience in business). Nor did Mrs Boss advice or husband of the loan or the investment.
Eastside bank becomes aware that the pine plantation was a scam and has requested Go Go Transport Pty Ltd pay back the outstanding loan.
REQUIRED:
Explain whether Eastside Bank can enforce its mortgage over the building and
whether it can rely on the assumptions in s129 of the Corporations Act.
In this case, Mrs. Boss fraudulently obtained the loan and mortgage documents, and the bank manager did not make further inquiries despite the unusual nature of the loan purpose. Therefore, the bank may not be able to rely on the assumptions in section 129 to enforce its mortgage.
Regarding the assumptions in section 129 of the Corporations Act, Eastside Bank may not be able to rely on these assumptions. Section 129 allows a person dealing with a company to assume that the company's officers have complied with all necessary internal requirements, such as obtaining proper authority for transactions. However, under the given scenario, Eastside Bank may have difficulty enforcing its mortgage over the building. This is because Mrs. Boss obtained the loan and mortgage documents by fraudulent means, including forging her husband's signature as secretary and using the money for personal purposes instead of investing in the pine plantation as stated.
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Answer the question below based on the information given. All data are in RM million.
Consumption
:C=30+0.8Yd
Investment function
: I=240
Government expenditure function
: G-240-
Tax function
:T=0.2Y
Export function
: X=28
Import function
:M-10+0.08Y
i. Derive the consumption and saving function after tax
Calculate the national income equilibrium by using
a. Aggregate Demand-Aggregate Supply.
b. leakage injection approach. =
Calculate the total consumption at the national income equilibrium.
Given equations: Consumption: C = 30 + 0.8Yd Investment function: I = 240, Government expenditure function: G - 240 -Tax function: T = 0.2YExport function: X = 28Import function: M - 10 + 0.08YFirst, let's find the consumption and saving function after tax. For that, we have to substitute the tax function T in the consumption function C. Now, C = 30 + 0.8Yd - TWe know that T = 0.2Y, substituting it in C we get,C = 30 + 0.8Yd - 0.2YOr, C = 30 + 0.8(1 - 0.2)Y = 30 + 0.64YAnd, S = Y - COr, S = Y - (30 + 0.64Y)Or, S = 0.36Y - 30a) Aggregate Demand-Aggregate Supply:
For national income equilibrium, Aggregate Demand (AD) = Aggregate Supply (AS)Or, C + I + G + X - M = YHere, C = 30 + 0.8Yd - 0.2Y = 30 + 0.64YI = 240G = 240X = 28M = 10 - 0.08YTherefore, AD = C + I + G + X - M= (30 + 0.64Y) + 240 + 240 + 28 - (10 - 0.08Y)= 1.56Y + 528And, AS = Y. Therefore, AD = ASOr, 1.56Y + 528 = YOr, Y = RM 1050So, the national income equilibrium is at Y = RM 1050.b) Leakage injection approach: Leakages = Injections Savings + Taxes + Imports = Investments + Government expenditure + Exports Or, S + T + M = I + G + X, Here, S = 0.36Y - 30T = 0.2YX = 28M = 10 - 0.08YI = 240G = 240Substituting the values in the equation above,0.36Y - 30 + 0.2Y + 10 - 0.08Y = 240 + 240 + 28Or, 0.48Y = 548Or, Y = RM 1141.67Total consumption at the national income equilibrium, C = 30 + 0.64Y= 30 + 0.64(1050)= 702 RM So, the total consumption at the national income equilibrium is RM 702.
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Debate how the lawsuit would be affected if Novell admitted that the parties had an oral contract under which Meade was entitled to 25% of the difference between accounts receivable and payable as of the day Meade quit, with specifics.
The lawsuit would be affected in a number of ways if Novell admitted that the parties had an oral contract under which Meade was entitled to 25% of the difference between accounts receivable and payable as of the day Meade quit.
The following are some of the potential effects of such an admission:
1. A determination of whether there was an enforceable oral contract could be required. It would be necessary to determine whether Meade's understanding of the terms of the alleged oral agreement was the same as Novell's, whether the terms were definite enough to be enforceable, and whether the agreement was supported by valid consideration.
2. The sum owed to Meade would be affected. If Meade was entitled to 25% of the difference between accounts receivable and payable, the calculation of the sum owed to Meade would be affected by how those accounts were calculated and by the amount of time it took to calculate the accounts.
3. It could impact the statute of frauds. The statute of frauds is a legal concept that requires certain contracts to be in writing in order to be enforceable. An oral agreement that falls under the statute of frauds, such as a contract for the sale of goods worth more than a certain amount, may not be enforceable.
4. The admission could harm Novell's defense. If Novell admits that an oral contract existed, it could make it more difficult for them to argue that the contract is unenforceable due to fraud or lack of consideration. It could also harm Novell's defense in other ways, depending on the specific facts of the case.
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i need swot analysis of priya pickles company to launch in canada.analysis based on the canada country report. which is a registered trademark of ushodaya enterprises pt Itd(food division), also i need summary of its company report
Priya Pickles has several strengths that can contribute to its success in launching in Canada, including its established brand, diverse product range, and commitment to quality and authenticity.
SWOT Analysis of Priya Pickles for Launching in Canada:
Strengths: Established brand: Priya Pickles is a registered trademark of Ushodaya Enterprises Pvt. Ltd. with a strong presence in the Indian food industry. It's reputation and brand recognition can give it a competitive advantage in the Canadian market.
Diverse product range: Priya Pickles offers a wide range of pickles with unique flavors and authentic Indian recipes. This diversity can cater to the multicultural Canadian population and attract a larger customer base.
Quality and authenticity: Priya Pickles maintains high-quality standards and uses traditional recipes and ingredients, ensuring an authentic taste experience. This commitment to quality can differentiate it from local and international competitors.
Weaknesses: Limited market knowledge: Expanding into Canada may pose challenges due to a lack of familiarity with the local market dynamics, consumer preferences, and distribution channels. Adapting to Canadian tastes and preferences could be a potential weakness.
Competitive landscape: The Canadian food market is highly competitive, with numerous established players in the condiments and pickles segment. Priya Pickles will need to strategize to differentiate itself and gain market share.
Opportunities: Growing demand for ethnic foods: Canada has a diverse population, with a significant interest in international cuisines. The rising demand for ethnic foods presents an opportunity for Priya Pickles to tap into this market and position itself as a premium Indian pickle brand.
Health-conscious consumers: The increasing focus on healthy eating and natural ingredients provides an opportunity for Priya Pickles, as it can highlight its traditional recipes, natural ingredients, and the absence of artificial preservatives to cater to health-conscious consumers.
Threats: Regulatory compliance: The Canadian food industry has strict regulations and labeling requirements. Priya Pickles will need to ensure compliance with these regulations to avoid any legal issues or barriers to entry.
Competition from local and international brands: Priya Pickles will face competition from both local Canadian brands and international players that offer a variety of pickles and condiments. Pricing, distribution, and marketing strategies will be crucial to overcome this competition.
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ou want to be able to withdraw $50,000 each year for 15 years. Your account earns 10% interest. a) How much do you need in your account at the beginning? b) How much total money will you pull out of the account? c) How much of that money is interest?
a) Initial amount needed: $403,150
b) Total withdrawal over 15 years: $750,000
c) Interest earned: $346,850
a) To determine the amount you need in your account at the beginning, you can use the formula for the present value of an annuity:
Present Value = Annual Withdrawal Amount * (1 - (1 + Interest Rate)^(-Number of Years)) / Interest Rate
Plugging in the values, we have:
Present Value = $50,000 * (1 - (1 + 0.10)^(-15)) / 0.10
Present Value = $50,000 * (1 - 0.1937) / 0.10
Present Value = $50,000 * 0.8063 / 0.10
Present Value = $403,150
Therefore, you would need $403,150 in your account at the beginning.
b) To calculate the total amount of money you will pull out of the account, you can multiply the annual withdrawal amount by the number of years:
Total Withdrawal = Annual Withdrawal Amount * Number of Years
Total Withdrawal = $50,000 * 15
Total Withdrawal = $750,000
You will pull out a total of $750,000 from the account.
c) To determine the amount of that money that is interest, you can subtract the initial amount you put in from the total withdrawal:
Interest Amount = Total Withdrawal - Present Value
Interest Amount = $750,000 - $403,150
Interest Amount = $346,850
Therefore, $346,850 of the total money pulled out is interest.
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Identify Walter Reed National Military Medical Center core competencies and assess which ones are rare, costly, or not easily imitated. 2.Present a summary of your organization's strengths and potential (or currently verifiable) competitive capabilities. Also summarize the organization's weaknesses. Identify your company’s core competencies and assess which ones are rare, costly, or not easily imitated. 2.Present a summary of your organization's strengths and potential (or currently verifiable) competitive capabilities. Also summarize the organization's weaknesses. 3.Apply the Resource-Based View (RBV) to help you identify both the tangible and intangible assets your organization may be able to use to accomplish its intended strategies. 4.Consider and discuss the things that may make your organization's resources and capabilities difficult for others to imitate. Use Value Chain Analysis to help you deepen your understanding of the relative value of the resources and capabilities you have identified. Seek objective and independently verifiable evidence of potential rarity of the resources and capabilities.
For Part 1: Walter Reed National Military Medical Center's core competencies include the following: Active engagement in quality care services.
2. Walter Reed National Military Medical Center is one of the only hospitals in the United States that specializes in trauma care and research, which is a rare and valuable competency. Additionally, the center has a large number of highly trained and experienced medical staff, which is a costly competency.
3. Competitive capabilities: A focus on patient-centered care, continuous improvement, medical advancements through research and development, advanced surgical procedures, treatment, and diagnostic capabilities. Weaknesses: Insufficient funding, limited public awareness, and a lack of strategic partnerships.
4. Resource-Based View (RBV) approach: The organization's tangible and intangible assets, such as skilled staff, training and learning programs, culture, and research capabilities, are all resources that may be used to achieve strategic objectives. Additionally, the hospital's location, physical infrastructure, and advanced medical technologies are all tangible resources that may provide it with a competitive advantage.
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A company has net income of $197,000, a profit margin of 9.80 percent, and an accounts receivable balance of $106,536. Assuming 80 percent of sales are on credit, what is the company's days' sales in receivables? Multiple Choice 25.39 days 19.34 days 4.84 days 33.98 days
Days’ sales in receivables is used to determine the average number of days it takes to collect accounts receivable balance. In order to calculate the days’ sales in receivables, there are two necessary steps to be followed.
First, we need to find out the average daily credit sales of the company and then we can calculate the average number of days to collect that sales. The formula for Days’ Sales in Receivables (DSR) is as follows:DSR = (Accounts Receivable / Net Credit Sales) x Number of Days in the Period
Where: Net Credit Sales = Total Sales x % of Sales on Credit
Now let's solve the given question:
Given, Net income = $197,000
Profit margin = 9.80%Accounts receivable balance = $106,536% of sales on credit = 80%
To calculate the days’ sales in receivables, we will first need to determine the net credit sales of the company.
The formula to calculate net credit sales is given below:
Net Credit Sales = Total Sales x % of Sales on Credit
Net Credit Sales = Total Sales x 80%Net Credit Sales = Total Sales x 0.8
Now, we can calculate the average daily credit sales of the company by dividing net credit sales by the number of days in the period.
Here, we will assume a 365-day period.
Average Daily Credit Sales = Net Credit Sales / Number of Days in the Period
Average Daily Credit Sales = (Total Sales x 0.8) / 365
Now, we can necessary the Days’ Sales in Receivables by using the below formula:
DSR = (Accounts Receivable / Net Credit Sales) x Number of Days in the Period
DSR = (106,536 / (Total Sales x 0.8) x 365)DSR = 25.39 days
Therefore, the company's Days' Sales in Receivables is 25.39 days.
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Organic, vegan and eco-friendly have all become the most common
terms in the personal care and cosmetic industry, but halal is the
latest and emerging trend. Not so long ago, the word ‘halal’ mean
Organic, vegan, and eco-friendly products are a common term in the personal care and cosmetic industry. However, halal has emerged as the latest and upcoming trend. Previously, the word 'halal' meant the consumption of meat following Islamic law.
But, as society advances and ethical consumerism becomes more prevalent, halal has taken on a new meaning.The personal care and cosmetics industry has adapted the term 'halal' to mean that the products they offer are permissible and suitable for Muslim consumers. Halal products, like other ethical products, ensure that the consumers know what they are purchasing and that the products they are using are ethically sound.
These products contain no animal by-products, alcohol, or animal testing, which makes them appealing to people from all walks of life.Halal is an emerging trend, and it's not just for the Muslim community; anyone who is concerned about the products they use can find these products appealing. People are becoming more aware of the products they are using and their effects on the environment, animals, and people. Halal products not only cater to the ethical needs of a group of consumers but also focus on environmentally friendly products.
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What would have life been like for a free black woman in Charleston, in the 1700s-late 1800s?
During the 1700s-late 1800s, a free black woman in Charleston would have encountered numerous challenges and limitations due to her gender, race, and class.
Though the specifics varied depending on factors such as her occupation and social standing, some generalizations can be made about what her life might have been like.
Firstly, free black women in Charleston did not have many rights or opportunities for advancement. Most were confined to low-paying jobs as domestic servants or laborers, and those who were educated faced even more significant challenges in finding employment outside of teaching or nursing. In addition, they were often subjected to discrimination and harassment in both the workplace and public life, with white people often refusing to serve or interact with them.
Secondly, as women, free black women would have faced even more limitations on their freedom and independence than their male counterparts. They would have been expected to conform to traditional gender roles, meaning that they were responsible for domestic duties such as cooking, cleaning, and childcare. They would also have been subject to sexual harassment and violence, as well as the threat of being sold into slavery if they were unable to provide for themselves or their families.
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In your detailed paragraphs, Discuss the "Community Policing" element. Discuss the relationship (if any) the detectives had with the community. Were the residents cooperative? How about the interrogation process (if any)? Were the police officers effective in their approach? Please also include the episode name number and air date -Please do not take too much time summarizing the episode for me. I've seen the episode! I'm mostly interested in gauging how well you are able to incorporate issues and perspectives learned in this course (so far) to a REAL-LIFE situation. -So basically, I want a commentary on your part where you are analyzing the police and their tactics and strategies based on the knowledge you have gained so far. You can comment on the residents as well.
Cite any other sources used
The episode of "The First 48," Season 17, Episode 7 "Lone Wolf" was about the murder of a 20-year-old man who was shot in the parking lot of an apartment complex in Dallas.
In this episode, the police officers involved with the case used the community policing approach to solve the murder case. Community policing is an approach in which the police and the community work together to solve crimes. The detectives in the episode had a good relationship with the community. They were able to get information from the residents, which helped them solve the case.
The residents were cooperative with the detectives, as they wanted justice for the victim. The police officers were effective in their approach. They were able to build a good rapport with the residents, which made it easier for them to get information about the case.
The interrogation process was also effective, as the detectives were able to get a confession from the suspect. The police officers used various strategies to solve the case, including canvassing the area, interviewing witnesses, and following up on leads.
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Black Pearl, Inc., sells a single product. The company's most recent income statement is given below. /4
Sales $50,000
Less variable expenses (30,000)
Contribution margin 20,000
Less fixed expenses (12,500)
Net income $ 7,500
Required:
a. Contribution margin ratio is ________ %
b. Break-even point in total sales dollars is $ ________
c. To achieve $40,000 in net income, sales must total $ ________
d. If sales increase by $50,000, net income will increase by $ ________
Thus, the answers are:
a. Contribution margin ratio is 40%.
b. Break-even point in total sales dollars is $31,250
.c. To achieve $40,000 in net income, sales must total $137,500.
d. If sales increase by $50,000, net income will increase by $15,000.
Given, Sales $50,000
Less variable expenses (30,000)
Contribution margin 20,000
Less fixed expenses (12,500)
Net income $ 7,500
a. Contribution margin ratio is 40%.
Calculation: Contribution margin ratio = Contribution margin/Sales= 20,000/50,000= 0.4 or 40%
b. Break-even point in total sales dollars is $31,250 Calculation: Break-even point = Fixed Expenses/Contribution margin ratio= $12,500/40%= $31,250
c. To achieve $40,000 in net income, sales must total $137,500. Calculation: Net Income= Sales - Variable Expenses - Fixed Expenses$40,000 = Sales - ($50,000 * 30%) - $12,500$40,000 = Sales - $15,000 - $12,500$67,500 = Sales Sales for $40,000 Net Income = $137,500
d. If sales increase by $50,000, net income will increase by $15,000. Calculation: Contribution Margin= Sales - Variable Expenses= $50,000 - ($50,000 * 30%)= $35,000New Sales = $50,000 + $50,000 = $100,000
New Net Income= (New Sales * Contribution Margin ratio) - Fixed expenses= ($100,000 * 35%) - $12,500= $35,000Increase in Net Income = New Net Income - Old Net Income= $35,000 - $7,500= $27,500
Thus, the answers are:
a. Contribution margin ratio is 40%.
b. Break-even point in total sales dollars is $31,250
.c. To achieve $40,000 in net income, sales must total $137,500.
d. If sales increase by $50,000, net income will increase by $15,000.
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Calculate the growth rate of GDP between year 1 and year 2 using both the year -to-year method and the Q(4)/(Q)4 method. For the year -to-year method, remember to average each year's quarterly GDP values.
The growth rate of GDP between Year 1 and Year 2 using the year-to-year method is approximately -29.17%, and using the Q(4)/Q(4) method is approximately -83.33%.
Using the provided GDP values for Year 1 and Year 2, we can calculate the growth rate using both the year-to-year method and the Q(4)/Q(4) method.
Year-to-Year Method:
1. Calculate the average GDP for each year:
Average GDP Year 1 = (9 + 4 + 5 + 6) / 4 = 6
Average GDP Year 2 = (8 + 5 + 3 + 1) / 4 = 4.25
2. Calculate the growth rate:
Growth Rate = ((Average GDP Year 2 - Average GDP Year 1) / Average GDP Year 1) * 100
= ((4.25 - 6) / 6) * 100
≈ -29.17%
Q(4)/Q(4) Method:
Using the GDP values for the fourth quarter:
Q4 = 6 (Year 1) and Q4' = 1 (Year 2)
1. Calculate the growth rate:
Growth Rate = ((Q4' - Q4) / Q4) * 100
= ((1 - 6) / 6) * 100
≈ -83.33%
Therefore, the growth rate of GDP between Year 1 and Year 2 using the year-to-year method is approximately -29.17%, and using the Q(4)/Q(4) method is approximately -83.33%.
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Current Attempt in Progress −11:i≡⋮ Blossom Company expects to produce 1,260,000 units of product XX in 2022. Monthly production is expected to range from 70,200 to 107,600 units. Budgeted variable manufacturing costs per unit are as follows: direct materials $5, direct labour $7, and overhead $10. Budgeted fixed manufacturing costs per unit for depreciation are $6 and for supervision $2. Prepare a flexible manufacturing budget for the relevant range value using increments of 18,700 units. (List variable costs before fixed costs.) BLOSSOM COMPANY Monthly Flexible Manufacturing Budget $ $
The flexible manufacturing budget for the relevant range value using increments of 18,700 units is: BLOSSOM COMPANY Monthly Flexible Manufacturing Budget $2,368,200, $2,667,400, $3,225,600.
Given that:
Units to be produced = 1,260,000 units
Expected range of production in units per month: Minimum = 70,200 units per month,
Maximum = 107,600 units per month
Variable costs per unit:
Direct materials = $5
Direct labor = $7
Overhead = $10
Fixed costs per unit:
Depreciation = $6
Supervision = $2
The formula to find out the flexible budget is:
Flexible Budget = (Variable Cost per Unit x Number of Units) + Fixed Cost
So, we can compute a flexible budget for each of the number of units produced at the following levels: 70,200; 88,900; 107,600. The number of units can be increased by 18,700 from the base number. Let's calculate the flexible budget for each of the levels:-
For 70,200 units:
Variable cost = $5 + $7 + $10 = $22 per unit
Fixed cost = $6 + $2 = $8 per unit
Flexible budget = ($22 x 70,200) + ($8 x 70,200) = $1,806,600 + $561,600 = $2,368,200
- For 88,900 units:
Variable cost = $5 + $7 + $10 = $22 per unit
Fixed cost = $6 + $2 = $8 per unit
Flexible budget = ($22 x 88,900) + ($8 x 88,900) = $1,956,200 + $711,200 = $2,667,400
- For 107,600 units:
Variable cost = $5 + $7 + $10 = $22 per unit
Fixed cost = $6 + $2 = $8 per unit
Flexible budget = ($22 x 107,600) + ($8 x 107,600)
= $2,364,800 + $860,800
= $3,225,600
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PS-10A. Journal Entries for Accounts and Notes Receivable Philly, Inc., began business on January 1. Certain for the year follow: LO2, 4 8 Received a $15,000, 60 day, nine percent note on account from J. Albert. 7 Received payment from J. Albert on his note (principal plus interest). June Aug. Sept. 1 Received a $40,000, 120 day, six percent note from R.T. Matthews Company on account. Dec. 16 Received a $28,800, 45 day, ten percent note from D. LeRoy on account. 30 R.T. Matthews Company failed to pay its note. 31 Wrote off R.T. Matthews' account as uncollectible. Philly's, Inc., uses the allowance method of providing for credit losses. 31 Recorded expected credit losses for the year by an adjusting entry. Accounts written off during this first year have created a debit balance in the allowance for doubtful accounts of $45,200. An analysis of aged receivables indicates that the desired balance of the allowance account should be $42,000. 31 Made the appropriate adjusting entries for interest. Required Record the foregoing transactions and adjustments in general journal form. MBC
Journal entries for accounts and notes receivable: Philly, Inc., began business on January 1. Transactions for the year follow:
Jan. 8 Received a $15,000, 60-day, nine percent note on account from J. Albert.
Jan. 8Account Receivable= $15,000Notes Receivable=$15,000
Feb. 7 Received payment from J. Albert on his note (principal plus interest)
Feb. 7Cash = $15,225 Note Receivable= $15,000Interest Revenue= $225
Jun. 1 Received a $40,000, 120-day, six percent note from R.T. Matthews Company on the account.
Jun. 1 Account Receivable= $40,000Notes Receivable= $40,000
Aug. 16 Interest Income= $2000 [(40,000*6%/12)*4]Notes Receivable= $40,000Interest Receivable= $2,000
Sept. 1Interest Received= $2,000Interest Receivable= $2,000
Sept. 16Interest Income= $400 [(28,800*10%/360)*106]Notes Receivable= $28,800Interest Receivable= $400
Dec. 16Received a $28,800, 45-day, ten percent note from D. Le Roy on the account.
Dec. 16Account Receivable= $28,800 Notes Receivable= $28,800
Dec. 31 wrote off R.T. Matthews' account as uncollectible.
Dec. 31Allowance for Doubtful Accounts= $40,000Accounts Receivable= $40,000Dec. 31Recorded expected credit losses for the year by an adjusting entry.
Dec. 31Bad Debt Expense= $3,200Allowance for Doubtful Accounts= $3,200
Accounts written off during this first year have created a debit balance in the allowance for doubtful accounts $45,200.
An analysis of aged receivables indicates that the desired balance of the allowance account should be $42,000.
Dec. 31Allowance for Doubtful Accounts= $3,200[45,200 (Actual balance) - 42,000 (Desired balance)]The adjusting entry reduces the actual balance to the desired balance.
Dec. 31Made the appropriate adjusting entries for interest.
Dec. 31Interest Receivable= $1,500 [$28,800*10%/360*30]Interest Income= $1,500
Therefore, The appropriate adjusting entry recognizes the interest earned but not collected.
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A Ponzi scheme is an investment fraud crime. Explain how it works and how you can avoid it, use examples
A Ponzi scheme is an illegal investment scheme in which returns are paid to the investors from the money contributed by newer investors. The fraudulent investment scam involves the promise of quick, significant returns with little to no risk.
An excellent example of a Ponzi scheme is the Bernie Madoff scandal. Bernie Madoff ran a multibillion-dollar Ponzi scheme that involved the deception of many investors. Investors believed that their money was being invested in the stock market, but in reality, the funds were being used to pay earlier investors' returns.
To avoid falling victim to a Ponzi scheme, it is essential to do your research and understand the investment opportunity thoroughly. Avoid investing in schemes that guarantee high returns with little risk. A legitimate investment scheme will provide you with information on how your money is invested and the risks involved. Here are some ways to avoid Ponzi schemes:
1. Conduct extensive research
2. Look for licensed firms or professionals
3. Check for any red flags such as guaranteed high returns, unsolicited phone calls, and emails
4. Avoid investment opportunities that promise guaranteed returns or low risk.
5. Get professional advice from investment advisors before investing.
In conclusion, Ponzi schemes rely on a continued inflow of money from new investors to keep the scheme running. To avoid falling victim to a Ponzi scheme, it is essential to do your research, look for licensed firms or professionals, check for any red flags, avoid investment.
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\begin{tabular}{l} Income \\ \hline Revenues \\ Cost of Goods Sold \\ Gross Profit \end{tabular} $200.00 ($140.00) $60.00 Selling, General, and Administrat Research and Development Depreciation \& Amortization Operating Income ($15.00) ($10.00) ($15.00) $20.00 Other income EBIT $3.00 $23.00 Interest Expense ($7.50) $15.50 \begin{tabular}{lr} Income Tax & ($3.88) \\ \hline Net Income & $11.63 \\ \hline \end{tabular}
The given table represents a simplified income statement with various components. Each row represents a different item, and the values in the second column represent the corresponding amounts.
Income Statement Amount |
| Revenues | $200.00 |
| Cost of Goods Sold | ($140.00) |
| Gross Profit | $60.00 |
| Selling, General, and Administrative Expenses | ($15.00) |
| Research and Development Expenses | ($10.00) |
| Depreciation & Amortization | ($15.00) |
| Operating Income | $20.00 |
| Other income | $3.00 |
| EBIT (Earnings Before Interest and Taxes) | $23.00 |
| Interest Expense | ($7.50) |
| Income Tax | ($3.88) |
| Net Income | $11.63 |
The table provides a breakdown of the various components of the income statement, including revenues, costs, expenses, and net income. It allows for the calculation of important financial metrics such as gross profit, operating income, EBIT, and net income.
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Porter’s Five Forces
Instructions
After reading about Michael Porter’s five forces and how it relates to strategy formulation in Chapter 5 of the Understanding Management textbook, answer the following question from the Chapter Review:
Using Porter’s competitive strategies, how would you describe the strategies of Walmart, Bergdorf Goodman, and T.J. Maxx? Be sure to include answers to all three in your response.
The strategies of Walmart, Bergdorf Goodman, and T.J. Maxx can be described using Michael Porter's competitive strategies.
Walmart, being a large discount retailer, adopts a cost leadership strategy. It aims to offer products at the lowest prices in the market, leveraging economies of scale, efficient supply chain management, and cost control measures. This strategy enables Walmart to attract price-conscious consumers and maintain a competitive edge in the retail industry.
On the other hand, Bergdorf Goodman, a high-end luxury department store, pursues a differentiation strategy. It focuses on providing unique and exclusive products, personalized services, and an exceptional shopping experience. By targeting affluent customers seeking premium and luxury items, Bergdorf Goodman sets itself apart from competitors and builds a strong brand image.
T.J. Maxx follows a cost leadership strategy with a twist of differentiation. As an off-price retailer, T.J. Maxx offers branded products at discounted prices by sourcing excess inventory or closeout merchandise. This allows them to provide value to price-sensitive customers who are also looking for quality and variety. By offering a treasure-hunt shopping experience and rapidly changing inventory, T.J. Maxx creates a sense of excitement and uniqueness for its customers.
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Ture or false
When a government taxes both
chocolate and tobacco for a similarly sized tax, the quantity
demanded of tobacco should be affected more than that of
chocolate.
True.
When a government taxes both chocolate and tobacco for a similarly sized tax, the quantity demanded of tobacco should be affected more than that of chocolate. This is because tobacco is considered more price inelastic compared to chocolate. Price elasticity of demand measures how responsive the quantity demanded of a good is to a change in price. In general, goods that are considered necessities or addictive, like tobacco, tend to have a lower price elasticity of demand. This means that consumers are less likely to significantly reduce their demand for tobacco even when the price increases. On the other hand, goods like chocolate are considered more price elastic, meaning that consumers are more likely to reduce their demand for chocolate when the price increases. Therefore, when both goods are taxed similarly, the quantity demanded of tobacco is expected to be affected more than that of chocolate.
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Hello, Your Discussion #3 is now open. It is due by 11:59PMARIZONA time 9/118/2022, however you can post your discussion before then. You may start a discussion or respond to one. You may choose your own discussion topic. Your point score will depend on the completeness and depth of your discussion. Do not expect full credit if you merely congratulate someone on their post and do not add anything significant to the discussion besides that it helped you. Have fun and stay healthy!
Write me something I can discuss with my FINANCE 331 Class! Around 200-300 words and it can be anything revolving around Finance, and please make it something people would want to discuss. Thank you
Here's a topic that might be interesting and thought-provoking: "The Ethics of Investing: Balancing Profit with Responsibility."Investing is often seen as a way to grow wealth and create financial security, but it's important to consider the ethics of our investment choices as well.
How can we ensure that we're investing in companies that align with our values and principles? What are the potential consequences of investing in companies with questionable ethical practices, such as those that contribute to climate change or engage in human rights abuses?
How do we balance our desire for financial returns with our responsibility as global citizens?These are important questions to consider as we navigate the complex world of finance and investing. Encourage your classmates to share their thoughts and perspectives on the topic and try to foster a respectful and open-minded discussion.
You could even consider incorporating real-world examples of companies that have faced ethical dilemmas or investors who have taken a stand on ethical issues in their investment choices.
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In response to the economic harm caused by the Covid virus, Congress enacted a law that, among other things, creates a new business loan program administered by the Small Business Administration (SBA). Under the new loan program, qualifying businesses may apply for and receive economic injury disaster loans (EIDLs) that contain very favorable repayment provisions. The maximum loan amount under the law is $2 million. The program also provided a $10,000 "advance" payment to all applicants, simply for filing the loan application. The applicant is entitled to keep the advance payment even if the loan application is denied by the SBA or the applicant decides not to accept the loan. Your employer meets all of the requirements for the EIDL and submitted a written application for the loan in early April, 2020. The SBA does not charge a fee for the application. Based on the new law and SBA regulations, the company was eligible for the maximum (\$2M) loan amount. The company received the $10,000 payment in early June 2020. Because of the popularity of the EIDL program, the SBA was slow in processing applications. In early July, the company was informed that its EIDL application was approved, but the amount of the loan is $150,000. No explanation was given as to the reduced amount of the loan. Research reveals that the SBA administrators, without changing SBA regulations or modifying SBA published materials about the $2M loan amount, internally decided to reduce all loans so that the program would not run out of money. Your employer can file a request for reconsideration with the SBA and has asked you to do so. In the request, would you contend that the SBA and your employer have a binding contract and the SBA violated the contract? If so, what factors support your contention? If not, what factors would dispute that contention?
The request for reconsideration should argue that the employer has a binding agreement with the SBA and that the SBA breached it by reducing the loan amount. The request should emphasize the factors that support this argument, such as the initial application for the loan.
The request for reconsideration should emphasize that the SBA created a binding agreement with the employer when it approved the loan application and provided an advance payment of $10,000. In addition, the request should emphasize that the SBA's decision to reduce the loan amount breached the terms of the agreement. The employer was entitled to the full $2 million loan amount under the terms of the program and the SBA had no authority to change the terms without notice or explanation.
An argument could also be made that the SBA's decision to reduce all loans was arbitrary and capricious. There is no indication that the SBA modified its published materials or regulations to justify its decision. In fact, the published materials still indicate that the maximum loan amount is $2 million. Without such disclaimers, the employer had no reason to believe that it was not entitled to the full $2 million loan amount.
The request for reconsideration should also emphasize that the employer relied on the SBA's representation that it was entitled to the full $2 million loan amount when it applied for the loan and made financial decisions based on that representation. The SBA's decision to reduce the loan amount has caused the employer significant economic harm and is a breach of the agreement.
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(Present-value comparison) You are offered $1,900 today, $12,000 in 10 years, or $33,000 in 20 years. Assuming that you can earn 11 percent on your money, which offer should you choose? a. What is the present value of $33,000 in 20 years discounted at 11 percent interest rate? (Round to the nearest cent.) b. What is the present value of $12,000 in 10 years discounted at 11 percent interest rate? $ (Round to the nearest cent.) c. Which offer should you choose? (Select the best choice below.) A. Choose $12,000 in 10 years because its present value is the highest. B. Choose $1,900 today because its present value is the highest. C. Choose $33,000 in 20 years because its present value is the highest.
The present value is the current value of a future sum of money, taking into account the time value of money and the interest rate. The answer is: C. Choose $33,000 in 20 years because its present value is the highest.
a. To calculate the present value of $33,000 in 20 years discounted at an 11 percent interest rate, we use the present value formula:
PV = FV / (1 + r)^n
Where:
PV = Present value
FV = Future value
r = Interest rate
n = Number of years
Using the formula, we have:
PV = $33,000 / (1 + 0.11)^20
PV ≈ $3,734.32
b. Similarly, to calculate the present value of $12,000 in 10 years discounted at an 11 percent interest rate, we use the same formula:
PV = $12,000 / (1 + 0.11)^10
PV ≈ $3,140.22
c. Now that we have calculated the present values, we can compare them. The highest present value indicates the best choice. In this case, the present value of $3,734.32 for the $33,000 in 20 years is the highest among the three options.
Therefore, the answer is: C. Choose $33,000 in 20 years because its present value is the highest.
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