Answer: Medium of exchange.
Explanation:
The $50 is given in exchange for an iPod, therefore in the question's illustration money serves as a medium of exchange. Money as a medium of exchange means that money is needed when conducting business transactions that involves buying and selling.
b. False
Answer:
false
Explanation:
edge
Answer:
Let's break down the information and check which statements are true:
I. The amount of the loan will be $200,000.
- This statement is true. The house is priced at $200,000, and you are making a 10% down payment, which means you will be taking a loan for the remaining 90% of the house price. So, the loan amount is $200,000.
II. Closing costs will be $10,000.
- This statement is not necessarily true. You mentioned that closing costs will be 5% of the house price. To find the closing costs, calculate 5% of $200,000: 0.05 * $200,000 = $10,000. So, the closing costs could be $10,000.
III. Closing costs will be $9,000.
- This statement is not true based on the information provided. The calculation in statement II shows that closing costs are $10,000, not $9,000.
IV. You will need to bring $29,000 total to the bank in order to get the loan.
- This statement is true. To calculate the total amount you need to bring to the bank, add the down payment and closing costs: 10% of $200,000 (down payment) + $10,000 (closing costs) = $20,000 + $10,000 = $30,000. So, you will need to bring $30,000 in total to the bank to get the loan.
Therefore, statements I and IV are true, while statements II and III are not necessarily true based on the provided information.
The true statements are: Closing costs will be $10,000 and You will need to bring $30,000 to the bank. The loan amount will be $180,000, not $200,000.
Firstly, for a house priced at $200,000, a 10% down payment would be $20,000 (200,000*0.10). Secondly, closing costs will be 5% of the price, which would amount to $10,000 (200,000*0.05). To calculate the total amount you need to bring to the bank, you add the down payment and closing costs, equalling $30,000.
Therefore, the statements that are true are: The closing costs will be $10,000 and You will need to bring $30,000 total to the bank in order to get the loan.
The statement The amount of the loan will be $200,000 is false because the loan amount will be the home price minus the down payment, or $180,000.
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Assuming you make no deposits or withdrawals over the next month, how much
interest will you earn during the month?
Answer:
$0.15
Explanation:
Interest is calculated using the formula below.
I = P x i x t
where I = interest
P= principal amount.
i=interest rate
t=time
Interest is given as an annual percentage. A 2.75 % interest will translate to 2.75/100 divided by 12 monthly interest. Therefore, the applicable interest rate is 0.00229 %
interest for the month will be
i=$65 x 0.00229 x 1
=$0.14895
=$0.15
b. American Marketing Association
c. U.S. Congress
d. Electronic Privacy Information Center
e. Federal Communications Commission
The Federal Trade Commission (FTC) serves as a watchdog over the data mining of consumer information. The correct answer is A. Federal Trade Commission.
The Federal Trade Commission (FTC) is an independent agency of the United States government that is responsible for promoting consumer protection and preventing anticompetitive business practices in the marketplace. The FTC was created in 1914 to enforce the Federal Trade Commission Act, which prohibits unfair or deceptive acts or practices that harm consumers and competition. The agency has the power to investigate and litigate violations of consumer protection and antitrust laws, issue regulations, and conduct studies and reports on various issues related to the economy and competition. The FTC also works to educate consumers and businesses about their rights and responsibilities in the marketplace.
Learn more about Federal Trade Commission (FTC) here: brainly.com/question/30001024
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