The statement describes a fixed bid contract, this is a specific dollar amount for completing a segment of project work.
A fixed bid contract is a contract that is based on the idea that a fixed scope of work will be completed for a fixed. The fixed bid contract provides for a process that is not subject to any adjustment on the basis of the contractor's cost experience in performing the fixed contract. The fixed bid contract is also a contract that is based on the idea that a fixed scope of work will be completed for a fixed amount.
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an insured who had a life insurance policy for $1 million died. in filing the claim, his wife and children discovered that there was no beneficiary named on the policy. what will happen to the death benefit in this case?
In this case the Life insurance with no beneficiary will paid out to the insured's estate. A probate court then decides where the money goes.
What do you mean by life insurance?
Life Insurance tends to provide for financial support in the event of untimely death as well as acts as a long term investment. Beneficiaries of life insurance mainly include the policyholder appointed to receive the guaranteed death benefit of their life insurance policy. It is the person who is entitled to receive the benefits of the policy. In case without a mentioned beneficiary to claim the death payout, the benefit is paid to the deceased's estate
Life insurance majorly includes
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2. if a purchased item is long-lived but not used in normal operations, the asset is classified and recorded as a(n)
When an asset is long-lasting but not used in regular operations, it is categorized and recorded as an investment.
An asset or object purchased with the intention of generating income or appreciation is referred to as an investment. The term "appreciation" investment describes a rise in an asset's worth over time. When a person buys a product as an investment, they don't intend to utilize it money right away; instead, they plan to use it to make money later on.
An investment is usually the use of a resource today—time, effort, investment money, or an asset—in the anticipation of receiving a larger return than what was first invested. A financial asset, for instance, might money be bought by an investor now with the hope that it would provide income later on or be sold for more money.
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in order to determine product costs, jit firms are usually structured so they can use a. variable costing. b. process costing. c. joint costing. d. job-order costing.
In order to determine product costs, Jit firms are usually structured so they can use job-order costing.
In a process accounting system, what kinds of costs are typically present?average prices based on weight. In this version, it is presumed that all costs, whether current or from a previous time, be combined and allocated to generated units.
Standard prices. Based on typical prices, this variant.
Costing from first-in, first-out (FIFO).
Which of the following doesn't a process costing system employ?Heterogeneous products exist. Heterogeneous products are distinct items, thus process costing does not apply to them.
With a big number of uniform products, what kind of costing method performs the best?A company that manufactures homogeneous goods on a large scale would use process costing to calculate the amount of money spent on each individual process over a specific time period, whereas companies that deal in distinctive, heterogeneous goods would use job costing to calculate the cost of each individual unit manufactured.
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hugh tries his best to convince irene about a new business proposal, but irene presents some good counterarguments and stalls the proposal. this is an example of
This is an example of Resistance.
Why counterarguments are important?A position that contradicts your main argument is known as a counterargument. A strong persuasive writing and speaking strategy should include counterarguments, since they demonstrate that you have thought about opposing viewpoints.In addition, they give you the ability to argue against the adversary and support your perspective. A counterargument strengthens your ethos (credibility) since it demonstrates justice in your persuasive essay.Hugh's proposition was questioned by Irene, demonstrating her ability to correctly investigate certain topics. This mindset is beneficial, especially when we are unsure of a certain topic. By doing this, we may support the idea's proponents in their efforts to make improvements to the particular topic.
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Hugh tries his best to convince Irene about a new business proposal, but Irene presents some good counterarguments and stalls the proposal This is an example of Resistance.
Why counterarguments are important?A position that contradicts your main argument is known as a counterargument.A strong persuasive writing and speaking strategy should include counterarguments, since they demonstrate that you have thought about opposing viewpoints.In addition, they give you the ability to argue against the adversary and support your perspective.A counterargument strengthens your ethos (credibility) since it demonstrates justice in your persuasive essay.Hugh's proposition was questioned by Irene, demonstrating her ability to correctly investigate certain topics. This mindset is beneficial, especially when we are unsure of a certain topic. By doing this, we may support the idea's proponents in their efforts to make improvements to the particular topic.To learn more about counterarguments, refer to
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a contra-asset account, such as allowance for doubtful accounts or accumulated depreciation, has a normal balance of a and causes total assets to . multiple choice question. credit; increase debit; increase credit; decrease debit; decrease
A Contra-asset account, such as Allowance for Doubtful Accounts or Accumulated Depreciation, has a normal balance of credit and causes total assets to decrease.
An economic entity or a business can own or control any resource as an asset. It is anything that has the potential to generate gains in terms of the economy. Assets are ownership value that can be exchanged for cash.
Assets include tangible things like machinery, real estate, raw materials, and inventory, as well as intangible things like patents, royalties, and other intellectual property. An account's balance is the amount still owing on it. In accounting, the term "balance" refers to the difference between the total of debit entries and the total of credit entries made into an account during a given financial period. A debit balance is displayed when there are more total debits than total credits.
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sage hill technologies inc. applies manufacturing overhead based on machine hours. budgeted manufacturing overhead cost for the coming year is $759000 and budgeted machine hours are 330000 hours. actual manufacturing overhead totaled $96000. manufacturing overhead was overapplied by $36020. how many machine hours were actually used during the year? 330000 machine hours 57400 machine hours 759000 machine hours 33000 machine hours
Sage hill technologies inc. applies manufacturing overhead based on machine hours. 650 many machine hours were actually used during the year.
Variable overhead efficiency = (actual labor hours less budgeted labor hours) x hourly rate for standard variable overhead
= (870-500*2)*5 = 650 Favorable.
Technology is the operation of knowledge to reach practical pretensions in a specifiable and reproducible way. The word technology may also mean the product of such a bid. The use of technology is extensively current in drugs, wisdom, assiduity, communication, transportation, and diurnal life. Technology is the operation of scientific knowledge to the practical points of mortal life or, as it's occasionally stated, to the change and manipulation of the mortal terrain. Technology is the way we apply scientific knowledge for practical purposes. It includes machines( like computers) but also ways and processes( like the way we produce computer chips). It might feel like all technology is only electronic, but that is just most ultramodern technology.
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true or false: the benefits of an environmental marketing strategy extend to virtually all of a firm's stakeholders when the strategy is effectively integrated within a firm's general marketing plan.
When an environmental marketing strategy is successfully included into a company's overall marketing plan, benefits accrue to almost all of the stakeholders in the company. It is accurate to say this. This statement is True.
One illustration of this is the online shopping and auction website eBay. The website extends the lifespan of the products by enabling the exchange of commodities between clients. eBay's Classifieds section prevents usable things from ending up in landfills. Environmental marketing is a subset of marketing that emphasizes a good or service's impact on the environment.
A dedication to sustainable methods, inventive products or services, and a strong social media presence are some frequent environmental marketing qualities. Lack of resources, inexperience with green marketing, or unfavorable public attitudes are examples of weaknesses.
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on july 8, jones inc. issued an $79,800, 6%, 120-day note payable to miller company. assume that the fiscal year of jones ends july 31. using a 360-day year, what is the amount of interest expense recognized by jones in the current fiscal year? when required, round your answer to the nearest dollar.
The amount of interest expense recognized by jones in the current fiscal year is $306
The following illustrates how interest costs were calculated:
= Principal * Interest * Days * Days * Rate of Interest (total number of days in a year)
Simple interest is a simple and straightforward formula for figuring out how much interest will be charged on a loan. The daily interest rate, the principal, and the number of days between payments are multiplied to determine simple interest.
Simple interest is calculated by dividing the principal by the time, interest rate, and time period. "Simple Interest = Principal x Interest Rate x Time" is the written formula. This is the most fundamental formula for calculating interest.
= $79800.00 x 6% x (23 / 360)
= $305.98
The nearest dollar is $306
the period of 23 days runs from July 8 to July 31.
By multiplying the principal amount by the rate of interest and the duration, we simply applied the basic interest formula.
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as a business owner who sells products to customers and a consumer who purchases products from other sellers, dinesh has a deep understanding about the perceived value received when purchasing a good or service. he decides to teach his son, who will eventually take over the business, about this concept. what does dinesh tell his son that he will be teaching him about?
As a business owner who sells products to customers and a consumer who purchases products from other sellers, dinesh tell that he will be teaching his son about perceived value. received when purchasing a good or service.
The perceived value comes down to the price the public is willing to pay for a good or service. Even a snap decision pf perceived value made in a store aisle involves an analysis of a product's ability to fulfill a need and provide satisfaction compared to other products under different brand names.
The perceived value is a customer's own perception of a product or service's merit or desirability to them, especially in comparison to a competitor's product. The perceived value is measured by the price the public is willing to pay for a good or service.
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suppose you are a manager of a firm that operates in a duopoly. recently, the state attorney general fined you and your competitor for price fixing. in your market, firms only set prices, not total quantities to sell. from previous experience, you know your competitor has a marginal cost of $1.98. further, your marginal costs are $1.96. the previous cartel price was $10.00, when you and your competitor were price fixing. what price level do you now choose to maximize profits?
Anytime there is price fixing between two competitors, if one choose to do so, it should be above his marginal cost and not beyond the other competitor's marginal cost (price).
If a competitor decides to set prices in a price war between two rivals, the price shouldn't exceed the other competitor's marginal cost (price) and should be higher than the other competitor's marginal cost (price). Given that there will be a $10 charge for price fixing (previous cartel price). The best price would then be below the competitor's price and above his marginal cost in order to maximize profit.
Thus, $2.33—above his marginal cost and below competitor price—would be the best price to maximize earnings. Since, a fine will be imposed for price fixing. The best price would then be below the competitor's price and above his marginal cost in order to maximize profit.
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judy nicely, cfa, works for a large brokerage firm managing portfolios for individuals. in a meeting with patty owen, a client, nicely suggests moving a portion of owen's portfolio to u.s. bank certificates of deposit. nicely states that the principal is guaranteed up to federal deposit insurance corporation limits. nicely has:
Complied with CFA Institute Standards of Professional Conduct.
A bank certificate is only a letter from the bank that details how much money the account holder has on the date the certificate is sought, among other information. The Bank Statement, on the other hand, details all transactions made by the account holder from one certain date to another.
What is Bank certificates ?A certificate of deposit (CD) is a type of savings account where the issuing bank pays interest in exchange for holding a specified sum of money for a predetermined length of time, such as six months, a year, or five years. You will receive the amount you initially invested plus any interest when you cash in or redeem your CD.
What is federal deposit insurance corporation limits ?For each category of account ownership, the usual insurance amount is $250,000 per depositor, each insured bank. For deposits held in various account ownership types, the FDIC offers different levels of coverage.
Deposits are insured by the FDIC, which also oversees receiverships, makes huge and complicated financial institutions resolvable, and inspects and supervises financial institutions for safety, soundness, and consumer protection.
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the levels of organizational culture are multiple choice strategy, mission, and values. stability and flexibility. observable artifacts, espoused values, and basic underlying assumptions. clan, hierarchy, market, and adhocracy. identity, commitment, and stability.
The layers of corporate culture are visible signs, ideals that are upheld, and fundamental underlying presumptions.
What are assumptions examples?An assume is something you believe to be true despite the lack of evidence. People could presume, for instance, you are a nerd when you don spectacles, even when it is untrue.
Why do People make assumptions?The procedure of making assertions is one way the brain preserves energy. When find patterns in the way the world functions, we lean on our prior experiences. When we come across new circumstances, we adapt these patterns—or presumptions—to the new setting. This method spares us the effort of reexamining every circumstance from scratch.
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suppose a firm generates a lot of cash but has limited investment opportunities. is this stock more likely to be a utility stock or a technology stock? in addition, is the stock more likely to provide a high or low dividend yield? a utility stock that has a low dividend yield a utility stock that has a high dividend yield a technology stock that has a low dividend yield a technology stock that has a high dividend yield
It is more likely that a company's stock will be chosen as a technology stock over a lengthy period of time if it earns a lot of cash but offers few investment prospects.
Additionally, the dividend yield can vary depending on the stock.If the company has a lot of cash on hand, there may be more possibility to generate consistent quarterly profits.
The potential upside opportunity can be bigger when there is a lot of cash invested in utility stocks as well as receiving dividend income.
Utilities are a fantastic investment for people who desire high dividend yields and recession-proof companies in their portfolio because they are an integral element of the country's daily life.Because utility firms are regional, investors have a variety of enterprises to pick from.
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a court declares jimi to be mentally incompetent and appoints krispin to be his guardian. later, without krispin's knowledge, jimi signs a contract to sell his lake cabin to lazar for its real market value. the contract is
Jimi signs a contract to sell his lake cabin to lazar for its real market value. the contract is void.
What is meant by void contract ?
A formal contract that is effectively invalid and unenforceable from the moment it is established is known as a void contract.
Although both contracts may be voided for related reasons, a void contract varies from a voidable one.
If a contract cannot be enforced as written, it may be ruled invalid.
Invalid contracts can arise when one of the parties is unable to completely understand the ramifications of the agreement. For example, a person who is mentally ill or intoxicated may not be sufficiently sober to comprehend the terms of the agreement, making it void.
Agreements made by minors or for illicit purposes may likewise be declared void.
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mr. garcia is planning for retirement. he deposits $650 each month into a retirement account. the account pays 9% per year compounded monthly. how much will he have in 17 years when he retires?
Since Mr. Garcia is planning for retirement and calculate his amount after 15 years of investment means he look for Future Value of an Annuity.
What are the present and future values?
The amount of money that has to be invested in order to accomplish a particular future goal is known as the present value. Future value is the dollar amount that, if invested, will grow over time. The amount you must invest in order to obtain the future worth is known as the present value.
An illustration of future value
The future value formula, FV=PV(1+i)n, increases the present value PV by a factor of 1 + I for each period into the future. The future value calculator calculates the FV using a number of variables, including: The whole present value. a large number of times, usually years. rate of interest.
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2) according to your notes, which of the following are true about the business cycle? a) as output falls, unemployment rises. b) economic fluctuations are irregular and unpredictable. c) most macroeconomic quantities fluctuate together. d) all of the above.
Business cycles are periodic because they follow regular boom-and-bust cycles.
Which four phases comprise the business cycle?
The expansion, peak, contraction, and trough phases of the cycle are the four stages. The current stage of the economic cycle can be determined by looking at things like GDP, interest rates, the number of people employed, and consumer spending.
Which four factors drive business cycles?
The movement of the gross domestic product (GDP), the availability of capital, and expectations regarding the future are all factors that contribute to the business cycle. There are typically four distinct phases to this cycle: peak, contraction, trough, and expansion.
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if interest rates increase, business investment expenditures are likely to and consumer durable expenditures are likely to . a. increase, increase b. increase, decrease c. decrease, increase d. decrease, decrease e. be unaffected, be unaffected
if interest rates increase, business investment expenditures are likely to decrease and consumer durable expenditures are likely to decrease.
Interest rates can influence the amount of money that lenders and investors are willing to save and invest. An increase in demand for loanable funds raises interest rates, while an increase in supply lowers rates.
Capital operations are addressed by investment expenditure. It includes loan repayment, authority loans and advances, and direct investment expenditure (equipment and real estate acquisitions, new work, major repairs)
Consumer durables, also known as "durable goods," are goods that do not require frequent purchases and last at least three years. Economists pay close attention to consumer durables consumption because it is a good indicator of the economy's strength.
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which of the following would most likely be classified as a current liability? a.two-year notes payable b.unearned rent c.bonds payable d.mortgage payable
Most likely, unearned rent would be categorised as a current liability.
Unearned rent represents the prepayment of rent that is recorded as a liability until the revenue is earned. The accounting journal entry is a debit to a cash account and credit to the unearned rent current liability account.
Is a 2 year bank loan a non current liability?
Bank loans: Bank loans are often a type of non-current liability because they are usually paid back over a period of time that is greater than one year. For example, a company may take out a five-year bank loan in order to finance the purchase of new equipment.
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shana wears a hijab (head scarf) in conformance with her muslim beliefs. shana has been working in the call center but is moved to the front desk. the manager requests that shana remove her hijab because it presents the wrong image. what should the human resources manager do?
The human resources manager should tell the executive that is illegal to ask Shana to remove her hijab.
The hijab frequently refers to head coverings worn by some Muslim women. It's obligatory for every Muslim woman who has reached the age of puberty to wear a hijab. While similar head coverings can come in numerous forms, hijab frequently specifically refers to a cloth wrapped around the head, neck, and casket, covering the hair and neck but leaving the face visible.
The term ḥijāb was first used to denote a partition or a curtain, or was occasionally used for the Islamic rules of modesty.( 1)( 2) This is the operation in the verses of the Qur'an, in which the term hijab occasionally refers to a curtain separating callers to Muhammad's main house from his women's domestic diggings
.
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Why is cash rather than petty cash credited when a petty cash fund is replenished?.
Your "Cash Account" will be credited because it will be debited on your "Petty Cash Account" when your petty cash is replenished.
The reason for credit entry on Cash Account and debit entry on Petty Cash Account is because of double entry accounting system. Cash Account and Petty Cash Account are recorded on a separate journal, therefore when a petty cash fund is replenished, you will have to credit your cash on your cash account journal entry because you take money out from it and then you put it into your petty cash account and make a separate journal entry on your petty cash account showing that money has been put into it and therefore debited on your Petty Cash account.
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long-run economic growth is generally positive rather than negative because long-run changes in output are driven by changes in: multiple choice consumption, investment, and net exports. labor, capital, and technology. aggregate demand. government spending.
Long-run economic growth is generally positive rather than negative because long-run changes in output are driven by changes in the: LRAS, including changes in labor, capital, and technology. (factors of production)
What are the factors of production?Factors of production are those assets that make up the economic system. They are what human beings use to provide items and services. The economist classifies the factors of production into four categories.land, labor, capital, and entrepreneurship.Factors of production are the inputs required to produce goods or services. A factor of production is an economic term that describes the inputs used in the production of goods or services to achieve economic profit.It contains all the resources needed to create a product or service.Factors of production are land, labor, capital, and entrepreneurship.The level of technological progress affects all factors of production and can explain efficiency independently of the four typical factors.Land as a factor of production refers to the management of agriculture and the use of natural resources.Thus, [OPTION B] is the correct answer.
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NOTE: The given question is incomplete and here is the complete question:
QUESTION: Long-run economic growth is generally positive rather than negative because long-run changes in output are driven by changes in the:
(A) LRAS, including changes in consumption, investment and net exports.
(B) LRAS, including changes in labour, capital, and technology.
(C) aggregate demand, including changes in labour, capital, and technology.
(D) SRAS, including changes in labour, capital, and technology.
in 2012, nominal gdp per capita in the u.s was $49,922. in colombia, nominal gdp per capita was $7,855 the same year. calculate the ppp-adjusted gdp for colombia if the purchasing power of a given amount of dollars was 41% lower in the u.s. ppp-adjusted gdpcolombia
Calculate Colombia's ppp-adjusted GDP if the purchasing power of a given amount of dollars was 41% lower in the US. Colombia's PPP adjusted GDP is =7855/0.59, which equals $13314.
Gross domestic product (GDP) is a monetary measure of the market value of all final products and services produced and sold by countries within a certain time period. Because of its complicated and subjective nature, this measure is frequently changed before being regarded a credible indication. GDP per capita, on the other hand, does not reflect differences in the cost of living and the inflation rates of the countries; thus, using GDP per capita at purchasing power parity may be more useful when comparing living standards between nations, whereas nominal GDP is more useful when comparing national economies on the international market. Total GDP can also be broken down into the contributions of each industry or sector of the economy.
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the expected returns for acme company are shown below: economy probability return boom 0.10 20% above average 0.20 15% average 0.40 10% below average 0.20 5% recession 0.10 -10% calculate expected return and standard deviation for acme.
The expected return shows the typical rate of return that investors might anticipate receiving over a sufficient amount of time.
What is return probability?Expected return is simply a measure of probabilities intended to show the likelihood that a given investment will generate a positive return, and what the likely return will be. The purpose of calculating the expected return on an investment is to provide an investor with an idea of probable profit vs risk.
Data and Calculations:
Scenario Probability Expected Expected Variance Squared
Return Value Variance
A 0.2 +30% 0.06 0.045 0.002025
B 0.3 +15% 0.045 0.03 0.0009
C 0.1 -10% -0.01 -0.005 0.000025
D 0.4 -20% -0.08 -0.065 0.004225
The expected return is 1.5%.
= 1.5%
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when a country does not adopt a formal pegged rate, but tries to keep its currency within some range of a reference currency, this is called a(n) blank system.
A blank system is used, when a nation does not adopt a formal fixed rate but still tries to keep its currency within a certain range of a reference currency.
What is currency?Currency is defined as a unit of account that is issued by a government and is accepted at face value.
The definition of "equivalent amount" gives the term "currency" the definition given there. Reference Currency refers to the currency in which the applicable Sub-underlying Fund's assets are all valued and reported.
When a currency's value is fixed in relation to a reference currency, such as the U.S. dollar, the exchange rate between that currency and other currencies is then set by the exchange rate of the reference currency.
Later, Marshall Shalin's developed the concept of three modes of exchange, which could be detected throughout more specific civilizations than just Capitalist and Non-Capitalist. He did this by using Karl Polanyi's work. These are market exchange, reciprocity, and redistribution.
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dentify capital budgeting decisions. multiple select question. employee attainment decisions equipment replacement decisions expansion decisions product costing decisions
According to the facts in the question, the step of group decision-making being discussed is Analyzing the decision that needs to be made. They are being asked to “assess a condition. the answer is product costing decision.
Which implies that a decision has already been made and that they must examine it to ensure that it is exactly what they desire.It implies that ideals and unconsciously held abilities, reflexes, and habits constrain decision-makers.A model of decision-makers who use their own perception and sense of reason to address difficult issues is called limited rationality. This occurs when decision-makers search for answers based on their own constrained thinking, ignoring every technology process already in use, including data analysis and artificial intelligence, which are useful tools for minimising constraints.The drawback of limited rationality is that it doesn’t optimise the decision-making process.
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a company is planning to have a booth at a job fair to recruit for landscapers. in order to help potential applicants decide whether they are a good fit for the job, the company should:
A corporation intends to attract landscapers by setting up a stand at a job fair. To assist potential applicants in determining whether they are a suitable match for the position, the firm could have a current employee who is a landscaper to staff the booth and explain both the benefits and drawbacks of the work. Thus, the right answer is to have a current employee who is a landscaper help staff the booth and tell interested people both the plusses and minuses of the job.
What are the qualities of a good applicant?Concentrate on your personality or personal characteristics that distinguish you as the ideal candidate for the position. You may also highlight qualities that are unique to you because not many people have them, and they will undoubtedly make you the best applicant for the post.
Attributes of a Desired Candidate
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how much the bond price will be if the market rate is the same as the coupon rate for a $1,000 face value bond? how much the same bond will be priced if the maturity is only 3 months away when market rate has dropped 2% below the coupon rate?
If the Market rate and coupon rate are the same, then the bond price can't change which means the bond price is the same as the face value, so here the Bond price will be $1000 as it's not changed because the market rate and coupon rate are the same.
If the 2% decrease in bond interest rate then the bond price is increased above par value so there is a market premium, so the bond price will be increased by 2% = $1020
The stocks and the bond price are generally related to each other. When the price of the bond begins to fall, the stock market will plummet too. Stock returns and bond returns can both be negative. The price which investors are willing to pay is known as the bond price. The market price of the bond consists of two parts. The face value of the bond represents the first part and the bond interest payment represents the second part.
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firms that do not have access to the capital necessary to develop overseas operations should engage in a(n)
licensing agreement is a must to develop overseas operations
What is capital?
A factory and its equipment, intellectual property like patents, or a person's or a company's financial assets are all examples of things that offer their owner value or an advantage and fall within the expansive definition of capital. Despite the fact that money itself can be referred to as capital, the term is typically used to refer to cash used to buy items or make investments.
A firm should engage in licensing agreements to develop overseas operations A licensing agreement is a legal, written agreement between two parties known as a "licence agreement" that authorises one party to utilise another party's trademark, brand, or patent. The contract specifies the sort of licencing agreement, the usage guidelines, and the manner in which the licensor will be paid. It is made between the licensor (the property owner) and the licensee (the permitted party). Depending on what is being licenced, several contract types apply. Additionally, licencing agreements resolve disagreements regarding sales, quality problems, and royalties.
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a stock is expected to pay dividends of $1.20 per share in year 1 and $1.35 per share in year 2. after that, the dividend is expected to increase by 2.5% annually. what is the current value of the stock at a discount rate of 14.5%? $ (keep 2 decimal digits in your final answer)
If a stock is expected to pay dividends of $1.20 per share in year 1 and $1.35 per share in year 2. the current value of the stock at a discount rate of 14.5% is $10.87.
How to find the current value of the stock?First step is to find the price inn year 2 (P2)
P2 = D3 ÷ (r - g)
Price in year 2= 1.35 × 1.025 ÷ (0.145 - 0.025)
Price in year 2 = $1.38375 ÷ (0.145 - 0.025)
Price in year 2 = $1.38375 ÷ 0.12
Price in year 2= $11.53125
Now let find the current price
Current Price = $1.20 ÷ 1.145^1 + $1.35 ÷ 1.145² + $11.53125 ÷ 1.145²
Current Price = $10.87
Therefore the current price is $10.87.
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the state income tax where kristin lives is levied at the rate of p\%p% of the first \$ 28000$28000 of annual income plus (p 2)\%(p 2)% of any amount above \$ 28000$28000. kristin noticed that the state income tax she paid amounted to (p 0.25)\%(p 0.25)% of her annual income. what was her annual income?
Kristin's annual income is $32000.
Let A, and T be Kristin's annual income and the income tax total, respectively.
T = p%×28000+(p+2)%×(A-28000)
= p%×28000+ p%×(A-28000) + 2%×(A-28000)
=p%×A+2%×(A-28000)
According to the question,
T=(p+0.25)%×A=p%×A+0.25%×A
p%×A+2%×(A-28000) = (p+0.25)%×A=p%×A+0.25%×A
2%×(A-28000) = 0.25%×A
A = $32000
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