The minimum wage exists to establish a floor on the wages that employers can legally pay to workers.
Its primary purpose is to protect vulnerable workers from exploitation and ensure they receive a fair and decent level of compensation for their labor. By setting a minimum wage, governments aim to prevent excessive wage suppression, reduce poverty, and promote social and economic justice.
Minimum wage laws seek to provide workers with a basic standard of living, protect against income inequality, and stimulate consumer spending. It serves as a tool to address income disparities, improve working conditions, and contribute to overall social welfare and economic stability.
Learn more about minimum wage here:
#SPJ6
Retained earnings, equity, term loans, debt, letter of credit, debentures, euro issuance, working capital loans, venture investment, etc. are some of the sources of corporate financing.
Personal finance is an essential component of managing your current financial demands as well as future financial planning. Your long-term financial prospects for actions like investing or retirement planning will be greater the sooner you gain control over your personal finances.
A lot of information about a company's financial stability can be found in its financial statements. The Financial Statements of a company can be used to extract the majority of its information. Both its creditors and debtors can provide financial information.
Banking, professional guidance, Financial management, Investment funds, Insurance, Stock Exchange, Instruments of the Treasury or Debt Tax/Audit Consulting are personal finance services.
Therefore, Sources of information and advice about methods and services for managing personal finances are mentioned above.
Learn more about Finance, here;
#SPJ2
c. individual retirement account (IRA)
b. individual profit option (IPO)
d. office retirement plan (ORP)
a basic savings account
a money market
a savings account at a credit union
Answer:
B) $1,600
Explanation:
The ending cash surrender = total premiums paid - total amount charged to insurance expense = ($2,000 x 4 years) - ($2,000 + $1,800 + $1,500 + $1,100) = $8,000 - $6,400 = $1,600
In this case, a larger portion of the premiums paid are allocated to investments related to the life insurance.
Answer: Loans are classified into secured and unsecured ones.
The most common types of loans
1. Personal Loans - Issues by Financial institutions to any individuals for their personal uses.
2. Auto Loans- When you buy a vehicle, an auto loan lets you borrow the price of the vehicle minus any down payment.
3. Student Loans - It can help to pay for college and graduate school.
4. Mortgage Loans - A loan that covers the cost of a home's purchase less any down payment. If mortgage payments are not made, the lender may foreclose on the property, which serves as collateral. Mortgage payments typically take 10, 15, 20, or 30 years to complete. Government organizations do not insure conventional mortgages.
5. Payday Loans - Payday loans are one kind of loan to stay away from. These payday loans are usually subject to fees with annual percentage rates (APRs) of 400% or higher, and they must be fully repaid by your next paycheck.
6. Home Equity Loans - It lets you take out a loan for any purpose, up to a certain percentage of the equity in your home. Loans with installments are home equity loans. You get a lump sum and repay it over time (typically five to thirty years) in consistent monthly installments.