By increasing her monthly payment by $50, Carlin would save $68,614.68 - $58,226.92 = $10,387.76 in interest over the life of the loan.
How to solveFirst, we need to calculate Carlin's total interest paid over the life of the loan with her current monthly payment of $500.
The interest rate per month is 5% / 12 = 0.004167.
The number of months in the loan is 12 years x 12 months = 144 months.
Using the formula for the present value of an annuity, we can calculate the total interest paid as follows:
PV = (1 - (1 + r)^-n) / r
Where PV is the present value of the loan, r is the monthly interest rate, and n is the number of months.
PV = (1 - (1 + 0.004167)^-144) / 0.004167
PV = $68,614.68
Therefore, Carlin will pay a total of $68,614.68 in interest over the life of the loan with her current monthly payment.
If Carlin increases her monthly payment by $50, her new monthly payment will be $550. Using the same formula, we can calculate the new total interest paid as follows:
PV = (1 - (1 + 0.004167)^-144) / 0.004167
PV = $58,226.92
Therefore, by increasing her monthly payment by $50, Carlin would save $68,614.68 - $58,226.92 = $10,387.76 in interest over the life of the loan.
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Carlin has a loan with a monthly payment of $500 and an interest rate of 5% per year. If she increases her monthly payment by $50, how much money would she save on interest?
Reggie, who is 55, had AGI of $35,200 in 2022. During the year, he paid the following medical expenses:
Drugs (prescribed by physicians)
Marijuana (prescribed by physicians)
Health insurance premiums-after taxes
Doctors' fees
Eyeglasses
Over-the-counter drugs
$ 570
1,470
1,280
1,320
445
270
Required:
Reggie received $570 in 2022 for a portion of the doctors' fees from his insurance. What is Reggie's medical expense deduction?
Reggie's medical expense deduction is $7,276.
AGI, or adjusted gross income, is a person's total income minus certain deductions and is used to calculate taxable income.
Reggie, who is 55 years old, had an AGI of $35,200 in 2022. During the year, he incurred the following medical expenses:
Drugs (prescribed by physicians): $5,701
Marijuana (prescribed by physicians): $1,470
Health insurance premiums-after taxes: $1,280
Doctors' fees: $1,320
Eyeglasses: $445
Over-the-counter drugs: $270
Reggie was reimbursed $570 by his insurance company for a portion of the doctors' fees. To calculate his medical expense deduction, we first need to subtract any reimbursements from his total medical expenses.
Total medical expenses: $5,701 + $1,470 + $1,280 + $1,320 + $445 + $270 = $10,486
Reimbursements: $570
Medical expenses after reimbursements: $10,486 - $570 = $9,916
To claim a medical expense deduction, the expenses must exceed a certain percentage of AGI, which varies depending on the taxpayer's age. For taxpayers who are 65 or younger, the threshold is 7.5% of AGI. For taxpayers who are over 65, the threshold is 7%.
Since Reggie is 55 years old, the threshold is 7.5% of his AGI or $35,200 x 0.075 = $2,640.
Therefore, Reggie can deduct the portion of his medical expenses that exceed $2,640.
Amount of medical expenses that exceed the threshold: $9,916 - $2,640 = $7,276
Therefore, Reggie's medical expense deduction is $7,276.
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What mode of logic uses a set of rules to formulate an argument?
A.Formal logic
B.Socratic logic
C.Reflective logic
D.Empirical logic
Vera has a June credit card balance of $476.09. Her payment due date is June 27th, with a grace period of 5 days. If her payment is late, the credit card company charges a $30 late fee. Vera wants to pay the full amount to have a zero balance. How much should she pay if her online payment is processed on July 6th? $
Answer:
$506.09
Explanation:
Calculation for the amount she should pay if her online payment is processed on July 6th
Since we were told that Vera payment due date is June 27th in which she has a June credit card balance of the amount of $476.09 and a grace period of 5 days was given to her in a situation where Vera payment is late with a charges of the amount of $30 as late fee, this means that the if her online payment is been processed on July 6th and she want to pay the amount amount in full in order for her to have a zero balance she will have to pay the amount of $506.09 calculated as:
Amount to be paid=Credit card balance+Late fee charges
Amount to be paid= $476.09+$30
Amount to be paid=$506.09
Therefore the amount Vera should pay will be $506.09
Answer:
$506.09
Explanation:
Wally's Walleyes wants to introduce a new product that has a start-up cost of $7,800. The product has a 2-year life and will provide cash flows of $4,500 in Year 1 and $4,300 in Year 2. The required rate of return is 15 percent. Should the product be introduced? Why or why not?
The calculated NPV is negative, indicating that the present value of expected cash flows does not exceed the start-up cost of the project. In other words, the project is expected to generate a net loss.
To determine whether Wally's Walleyes should introduce the new product, we can calculate the net present value (NPV) of the project. The NPV measures the present value of expected cash flows, taking into account the required rate of return.
To calculate the NPV, we need to discount the cash flows using the required rate of return (15 percent). The formula for calculating NPV is:
NPV = Cash Flow Year 1 / (1 + Required Rate of Return)^1 + Cash Flow Year 2 / (1 + Required Rate of Return)^2 - Start-up Cost
\(NPV = $4,500 / (1 + 0.15)^1 + $4,300 / (1 + 0.15)^2 - $7,800\)
\(NPV = $4,500 / 1.15 + $4,300 / (1.15)^2 - $7,800\)
NPV = $3,913.04 + $3,537.41 - $7,800
NPV = -$350.55
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The Consumer Division lost $28,000 and the Industrial Division had operating income of $58,000. Management has analyzed the situation and wants you to do a differential analysis to determine the increase or decrease in overall operating income based on the following:
Expected decrease in revenues $280,000
Expected decrease in total variable costs $200,000
Expected decrease in fixed costs $102,000
a. $2,000 increase in operating income
b. $80,000 decrease in operating income
c. $22,000 increase in operating income
d. $80,000 decrease in operating income
Answer: c. $22,000 increase in operating income
Explanation:
Expected decrease in revenues -$280,000
Expected decrease in total variable costs (-$200,000)
Expected decrease in fixed costs (-$102,000)
Expected increase(decrease) in operating income $22,000
Costs are to be deducted from revenues so if the costs are decreasing, the mathematical treatment would be to add the decrease to the revenues which is how the above was calculated.
If the price of a good remains the same for all possible quantities demanded for the product, demand is
O elastic
O perfectly inelastic
O inelastic
O perfectly elastic
Answer:
Perfectly inelastic
Explanation:
If a good's price elasticity is 0 (no amount of price change produces a change in demand), it is perfectly inelastic. If price elasticity is exactly 1 (price change leads to an equal percentage change in demand), it is known as unitary elasticity. Ty for points
Everfi
You have to match the boxes with the section
Answer:
Needs : Frappuccino before work each day and winter coat
Wants: monthly loan payment and paying extra on the principal loan amount
Saving: rent on your apartment
Answer:
Explanation:
.
expalin how foreign employment contributes to spurring nation economy
1) Country can get lots of foreign currency as the remittance which can be used to establish industries in the country. Such industries provide job opportunities in the country. 2) People who go overseas to work can learn different skills and technologies which can be beneficial for the development of our own country.
Which speaker most supports the ideals of a command economy?
Speaker 1: Economies today are too complicated. People should have simple
lives and just do the jobs their families have done for generations.
Speaker 2: Private corporations care only about profits, not about people. The
government should take over the corporations and put the workers in charge.
Speaker 3: The government needs to stop interfering with the economy.
Big companies are rich because they do a good job providing the goods
everyone needs.
Speaker 4: People are too extreme in their economic viewpoints. There should
be a middle ground between total corporate freedom and the government
running the economy.
A. Speaker 3
B. Speaker 4
C. Speaker 2
O
o
D. Speaker 1
Answer: SPEAKER 2
Explanation:
Speaker 2: Private corporations care only about profits, not about people. This is the correct option.
What are Private corporations?Private corporations, also known as privately-held companies, are businesses that are owned by a small group of individuals or entities and are not publicly traded on stock exchanges.
Private corporations are not required to disclose their financial information to the public, which allows them to maintain greater control over their operations and strategic decisions.
Some examples of private corporations include family-owned businesses, small and medium-sized enterprises, and startups. Private corporations can operate in a variety of industries, including manufacturing, retail, services, and technology.
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Can someone else help me solves this question please?
The information regarding the cash and account details has been used to prepare the necessary account.
How to explain the informationJan. 1: Cash $18,000, Notes Payable $18,000
Jan. 5: Cash $6,000, Sales Revenue $6,000
Jan. 5: Cash $360, Sales Taxes Payable $360
Jan. 12: Unearned Service Revenue $11,000, Service Revenue $11,000
Jan. 14: Sales Taxes Payable $8,100, Cash $8,100
Jan. 201: Accounts Receivable $31,690, Sales Revenue $30,500, Sales Taxes Payable $1,190
Jan. 31: Salaries and Wages Expense $96,000, Social Security Tax Payable $7,344, Medicare Tax Payable $1,728, Federal Income Tax Payable $5,086, State Income Tax Payable $1,526, Salaries and Wages Payable $79,316
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Roak Company and Clay Company are similar firms that operate in the same industry. Clay began operations 2 years ago and Roak started 5 years ago. In the current year, both companies pay 7% interest on their debt to creditors. The following additional information is available. Roak Company Clay Company Current Yr 1 Yr Ago 2 Yrs Ago Current Yr 1 Yr Ago 2 Yrs Ago Total asset turnover 4.6 4.3 4.5 3.0 3.0 2.6 Return on total assets 9.0% 12.6% 13.2% 5.9% 5.6% 5.3% Profit margin ratio 3.9% 4.0% 3.8% 5.8% 6.0% 5.9% Sales $485,000 $455,000 $471,000 $285,000 $245,000 $185,000 1. (a) Which company has the better profit margin
Answer: Clay Company
Explanation:
Based on the information given, the current, previous year and two previous years beforehand profit margins of Clay company are greater than the corresponding profit margins of Roak company.
This means that Clay company has a better profit margin and shows that they retain a higher percentage of their revenue after costs are taken out as opposed to Roak company.
explain circumstances under which a manager may prefer to give oral instructions to an employee
When a direct engagement is needed or the communication is of a temporary nature, oral communication is typically advised. Building rapport and trust requires face-to-face contact (meetings, lectures, conferences, interviews, etc.)
Oral communication:When communication requires a human touch, oral communication is more effective. It also helps to build direct relationships, keep secrets, come to an understanding, and prevent complications with oral permission.
In general, managers favor verbal communication over written communication. Written communication works better than spoken communication when the sender needs to convey complicated information. The recipient can read the written material several times until he or she fully comprehends it.
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Along with a purpose statement, a preparation outline should include _____ to keep the speech focused andeffective.a central ideaan unanswered questiona delivery cuea bibliography
Along with a purpose statement, a preparation outline should include a central idea to keep the speech focused and effective.
What is a central idea?The central idea is a concise statement that summarizes the main point or message of the speech. It should be a single sentence that expresses the main theme or thesis of the speech, and it should be specific, clear, and memorable.
Including a central idea in the preparation outline helps to ensure that the speech stays on topic and that the speaker is able to convey the main message to the audience effectively. It also helps the speaker to organize their thoughts and ideas and to develop a coherent and logical structure for the speech.
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Ziehart Pharmaceuticals reported Net Sales of $195,000 and Cost of Goods Sold of $66,600. Candy Electronics Corporation reported Net Sales of $53,000 and Cost of Goods Sold of $39,800 Required: 1. Calculate the gross profit percentage for both companies. (Round your answers to 1 decimal place.) 2. Which company has a greater proportion of its sales available to cover expenses other than cost of goods sold?
The gross profit percentage for Ziehart Pharmaceuticals is 74.5%.
The gross profit percentage for Candy Electronics Corporation is 57.1%.
The company better able to use its sales to cover expenses is Candy Electronics Corporation.
What is the gross profit percentage?
The gross profit percentage is the ratio of net sales to total sales.
gross profit percentage = net sales / gross sales x 100
Gross sales is the sum of net sales and cost of goods sold
Ziehart Pharmaceuticals = [195,000 / (195,000 + 66,000)] x 100 = 74.5
Candy Electronics = [53,000 / (53,000 + 39800)] x 100 = 57.1
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who is sus? pink or blue im playing among us
Answer:
pink smh
Explanation:
Answer:
Its blue i have photographic evidence
Explanation:
How should emit pay for the television? Be sure to use PACED decision making model and show your work.
From the illustration, Emit should pay for the television with the use of a store credit card. The reason for the use of the credit card for the payment of the television over 6 months period is that Emit should be paying $59.29 in interest and total pay of $598.29 within the 6 months.
How should emit pay for television?These figures in use are calculated as follows:
cost of television: $539.00
Rate 22% pa= $539 × (0.22 ÷ 12)
= $539 × (0.22 ÷ 12)
= $9.88/month
= $9.88 × 6
= $59.29
Total for 6 months
6 months= $539 + $59.29
= $598.29
On the other hand, should Emit use his credit card and pay the television off in 12 months (1 yr), he would pay an additional $118.58 in interest, therefore making a total of $657.58
This can be calculated as follows:
= $539 × 0.22
= $118.58
Total interest in 1 year
= $539 + $118.5
= $657.58
Conclusively, Emit should use the store card to pay the cost as there is no personal gain.
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Social security and medicare are progressive taxes. payroll taxes. local taxes. corporate taxes.
Answer:
payroll taxes
Explanation:
just took the test, got 100%
Social security and medicare are type of payroll taxes.
What are payroll taxes?Payroll taxes are taxes paid by an employees form his or her salary.
The tax can be deducted or removed directly from the salary or wages of the employee and it is removed based on the amount of salary or wages in pay roll.
Therefore, payroll taxes includes social security and medicare.
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with the exception of column one, all amounts are in dollars. what is starting principal of the loan? give your answer in dollars to the nearest dollar. do not include commas or the dollar sign in your answer.
The principal loan is 150000 dollars
First let us get the monthly rate. This can be gotten using the formula
Where P is principal,
r is the percent interest rate per year, so to get monthly interest is divide by 12
is is the monthly interest.
Using column 1 to determine the rate, we have
Now, the interest rate r = 6%
The starting principal becomes
Therefore, the answer is 150000 dollars
Principal is most normally used to allude to the first amount of cash acquired in a credit or put into a speculation. It can likewise allude to the presumptive worth of a bond, the proprietor of a privately owned business, or the main member in an exchange.
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If Devin is purchasing a $1,500 stereo system making monthly payments for a
year and is given a "same as cash" financing promotion, what will his monthly
payment be?
A. $125
B. $150
C. $75
D. $120
Answer: Answer is A
Explanation:
If Devin is purchasing a $1,500 stereo system making monthly payments for a year and is given a "same as cash" financing promotion, There will his monthly payment be $125. Thus, option (a) is correct.
What is promotion?
Promoting products and services in the marketplace is referred to as "promotion." A paid and unpaid payment is the promotion. In order to promote itself, the business releases a new product. Public purchasing is influenced by the promotion of the goods and services. Public relations, advertising, sales promotion, and direct marketing are the four different methods of promotion.
Determine the promotion of the monthly payment to be:
Given the amount are:
Devin is purchasing a $1,500 stereo system.
Monthly payment given to the cash is 12 months.
The promotion of the monthly payment = ?
The promotion of the monthly payment = 1500 ÷ 12
The promotion of the monthly payment = $125
As a result, the promotion of the monthly payment will be $125. Therefore, option (a) is correct.
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When the nervousness about a situation outweighs the gain from the information, you're suffering:
An individual whose anxiousness about a circumstance outweighs the gain from the information is suffering from anxiety disorder.
Understanding anxiety disorders?When someone is affected socially, mentally or psychologically as a result of unexpected life situations, we say that they are affected by condition we refered to as anxiety disorders.
However, from the task content above, we have seen understood that this man was so much in a great shock when the information was brought to him which renders his mental health in difficulty.
So therefore, when a man, woman, young or even the old one suffers from anxiety disorder, they have been faced by shocking information will makes them suffers from anxiety disorder.
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Best Co. is required to file their audited financial statements with the Government Accountability Office and Cole & Dierks, CPA's have been hired to perform the engagement. Under the
General Accountability Office rules, which of the following services related to preparing accounting records, if performed by Cole & Dierks, will always impair independence?
Recording transactions for which management has determined or approved the appropriate account classification, or posting coded transactions to an audited entity's general ledger.
Preparing financial statements based on information in the trial balance.
Posting entries that have been approved by an audited entity's management to the entity's trial balance.
All of these services will always impair independence.
None of these services will always impair independence if the proper conditions are met.
General Accountability Office rules All of these services will always impair the independence of the following services related to preparing accounting records, if performed by Cole & Dierks, will always impair independence. The correct option is C.
What are the independence rules in GAAP?The auditor must be objectively honest in order to be considered independent, and he must be unbound by any ties to the client, its owners, management, or management organization.
Personal conflicts of interest, scope restrictions, access restrictions to personnel, property, and records, as well as resource limitations like funding, may all compromise organizational independence and individual objectivity.
Thus, the ideal selection is option C.
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The first two steps of the accounting cycle are:
A. Journalize and Post
B. Journalize and Trial Balance
C. Post and Trial Balance
Answer:
A. Journalize and Post
Explanation:
In accounting Journalize refers to the act of recording the transactions that occurred in your operation to your financial record. Depending on the size of the business, journalizing process might be different. Small scale businesses can get by with written record while larger businesses usually need proper computerizations.
Posting is the second step after the journalizing process. More specifically, posting journal entries to the accounts in the ledger. This will show each accounts that the company possess along with the value of each accounts.
The Financial Accounting Standards Board (FASB) is the body authorized to establish accounting principles for all colleges and universities and health care entities.
a. True
b. False
Answer:
The given statement is "False".
Explanation:
The agency or institution including all businesses, profit-oriented accept or reject, once again to create accountability guidelines, is determined as FASB.These are predicated on the notion that sometimes business, as well as the profession of investment products, function efficiently when there is trustworthy, succinct, as well as straightforward contact reporting.Thus the above is the correct answer.
Which statement describes surface waves? They arrive before S waves. They travel faster than P waves. They are produced by P and S waves. They travel deep below Earth’s surface.Which statement describes surface waves?
They arrive before S waves.
They travel faster than P waves.
They are produced by P and S waves.
They travel deep below Earth’s surface.Which statement describes surface waves?
They arrive before S waves.
They travel faster than P waves.
They are produced by P and S waves.
They travel deep below Earth’s surface.Which statement describes surface waves?
They arrive before S waves.
They travel faster than P waves.
They are produced by P and S waves.
They travel deep below Earth’s surface.Which statement describes surface waves?
They arrive before S waves.
They travel faster than P waves.
They are produced by P and S waves.
They travel deep below Ear
Answer
C. They are produced by P and S waves.
Explanation:
always chose option c if ydk ;)
Surface waves are produced by P and S waves
Seismic waveThere are two types seismic waves which are body waves and surface waves. Body waves travel within the body of Earth. They include P (primary) waves and S (secondary) waves.
Surface wave travel along Earth’s surface. Surface waves travel only through solid media. After both P and S waves have moved through the body of Earth, they are followed by surface waves
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Vaughn Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $ 196,000 $29.400 February 215,600 35,280 March 245.000 37,240 Vaughn's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale: 4% are uncollectible. Vaughn's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase, and 60% in the month following purchase. (a) Prepare a schedule of expected collections from customers for March. (b) Prepare a schedule of expected payments for direct materials for March.
$215,502 in customer collections are anticipated for March.
For the month of March, direct material payments are anticipated to total $36,652.
Expected Collections is the total of I the anticipated monthly instalments related to the financing contracts under which the Purchased Receivables are secured and (ii) the anticipated monthly prepayments, as determined by the Servicer and disclosed in each Servicer Report.
For the avoidance of doubt, a payment due after an Original Reference Security has been redeemed early in accordance with its terms and conditions is not included in the term "Expected Payment," which refers to a payment due to be received under the terms of an Original Reference Security at the time the Original Reference Security is issued.
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2. You want to convince your employees to sign up for the new health maintenance
program that your company offers because it is cheaper than the older program.
However, you expect most employees to stay with the more expensive program as it
covers more physicians. Which of the following persuasive strategies will be most
effective in this case?
Because the audience is probably going to value emotion as a way of problem-solving in this situation, the persuasive tactic will be most successful.
To succeed in "persuasive strategy," one must balance reason and passion.
The three different categories of persuasive tactics are pathos, ethos, and logos. The most persuasive writing typically combines all three tactics. While ethos relies on the authority of the author or source as justification for action, logos draw conclusions using logic or reason.
It is significant to note that your ability to persuade others affects their behavior. Arguments are used in persuasion to persuade others to follow your path. The way you express your views to others might have an effect on how others interpret a certain issue or concept.
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The statement of owner's equity
• A. lists the assets that the owner can claim if the business fails
• B. determines the profit that is available to the owner
• C. a keeps a running total of the company's expenses and revenues
• D. describes changes in the owner's investment over time
Answer:
I believe the answer is C. a keeps a running total of the company's expenses and revenues.
Explanation:
The statement of owner’s equity would calculate the ending balance in the equity account of $20,000 (0 + $15,000 + $10,000 – $5,000). This ending balance will be carried forward to the following year as the future beginningHave you ever had a crafting table on a first date?
what is one effect of the collapse of the soviet union on russian society? view available hint(s) for part a what is one effect of the collapse of the soviet union on russian society? a decrease in homelessness the strengthening of the family structure improved educational opportunities a decrease in unemployment an increase in poverty
One effect of the collapse of the Soviet Union on Russian society was an increase in poverty.
After the collapse of the Soviet Union, the country experienced economic turmoil, leading to widespread poverty and unemployment. The sudden shift from a planned economy to a market economy left many Russians without jobs, and the lack of social safety nets exacerbated the problem. The government's inability to provide basic necessities, such as food and housing, led to an increase in poverty rates. This economic hardship had a significant impact on Russian society, affecting not only individuals but also families and communities, leading to social issues such as crime and addiction.
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What Freedoms are NOT in the First Amendment?
Right to Bear Arms
Right to Free Enterprise
Right to a speedy and public trial
All of the above
None of the Above