Answer: $1,256
Explanation:
Milo makes 6% on the sales that he makes.
The $75.36 that he made from this sale is therefore 6% of the cost of the item sold.
Assuming the item was x, the cost is;
6% * x = 75.36
x = 75.36/6%
x = $1,256
The cost of the item that Milo sold can be found by dividing the known commission by the commission rate. In this case, the item cost $1000.
The question of finding the cost of an item based on a known commission is a question of working backwards from the commission to the total sale amount. This can be understood as a simple mathematical problem related to percentages.
If Milo's commission was $100, and the commission rate is 10% (as mentioned in the question), then we can formulate this as x * 0.10 = $100, wherein x represents the total sale amount. To find x, we can rearrange the formula to x = $100 / 0.10, which equals to $1000. Hence, the cost of the item that Milo sold was $1000.
To find the cost of the item Milo sold, set up an equation using the commission rate and the commission earned.
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B. The present value (PV) of the amount deposited
C. The duration of the deposit (N)
D. The trend between the present and future values of an investment
Answer:
D. The trend between the present and future values of an investment
Explanation:
The future value of an investment formula is:
FV = PV (1 + i)^n
Where:
We can determine that the trend between the present and future values of an investment is not needed to find the future value of an investment, because such trend is not part of the future value of an investment formula, while all the other variables are part of it.
Common stockholders bear the greatest risk of loss of value if a firm should fail.
There are two sorts of shareholders in a company: common shareholders and preferred shareholders. They are the owners of common stocks, as their name implies, in a corporation. These individuals enjoy voting rights over matters concerning the company.
A person who has acquired at least one common share of a corporation is referred to as a common shareholder. Common shareholders have entitled to declared common dividends as well as a vote on corporate matters. In the event of bankruptcy, common shareholders are compensated last, following preferred shareholders and debtholders.
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Answer:
APR is 17.16 percent
Explanation:
APR means annual percentage rate and is calculated annually.
APR = 1.43 percent * 12 months = 17.16 percent
The Annual Percentage Rate (APR) for a credit card that charges a monthly interest rate of 1.43 percent is approximately 17.16 percent. This is calculated by multiplying the monthly rate by the number of months in a year.
The Annual Percentage Rate (APR) is the yearly rate charged for borrowing and is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan. The APR on your credit card takes into consideration a monthly interest rate, which in your case is 1.43 percent.
To calculate the APR, you need to multiply your monthly interest rate by the number of months in a year. Thus, 1.43 percent (or 0.0143 in decimal form) multiplied by 12 months gives you an APRof approximately 17.16 percent.
So, the APR on your credit card, if it charges you 1.43 percent per month, would be around 17.16 percent.
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b. A credit to Cash Over and Short for $4.00.
c. A debit to Petty Cash for $392.50.
d. A credit to Cash for $396.50.
e. A debit to Cash for $396.50.
Answer:
The correct answer would be:
A credit to cash of $385. However, this is not an option indicated. But, according to the figures provided, the answer i recommend is correct.
Explanation:
Debit: Various expenses $382
Debit: Cash shortage ($450 - $382 - $65) $3
Credit: Cash: 385
To record entry to replenish the petty cash fund.
The entry to replenish the petty cashfund will include a debit to Cash for $396.50. The correct option is e.
The custodian must record a debit to the Petty Cash account to raise it back to the starting balance of $450 in order to replenish the petty cash fund. $382 + $65 = $447 in total receipts and cash on hand (coins and currency).
The custodian is short by $2.50 because the initial fund amount is $450. A debit of $396.50 ($450 - $2.50) will be issued from Cash to reflect the amount owed to the custodian in order to return the Petty Cash account to $450.
Thus, the correct option is e.
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Answer:
the minimum price depends on the owner's discount rate. For example, if the discount rate is 12% per year or 1% per month, then the price should equal:
PV = $1,000,000 x 90.81942 (PVIFA, 1%, 240 periods) = $90,819,420
You would need to adjust the PVIFA depending on the owner's discount rate; the higher the rate, the lower the price.
Answer: Raises the levels of both productivity and income
Explanation:
In a closed Economy, there is no trade with the outside world.
That would mean that the GDP formula for their expenditure model will look like this,
Y = C + I + G
Where Y is (GDP)
C is consumption
I is investment and,
G is Government Spending
Investment is also known as Savings because it is the amount of Total income that is not spent after individuals CONSUME and the Government SPENDS,
I = Y - G - C.
When an economy SAVES MORE they are sacrificing consumption now for future consumption and saving more.
This means that there is more money to invest in Economic activities.
Since there is a higher Investment in Economic activities, we can expect higher CAPITAL STOCK which can drive Economic growth as it leads to greater productivity as well as greater income because the Economy is growing.
The Harrod-Domar model of economic growth speaks more on this.