Finance Questions & Answers

ASK YOUR TEACHER PRACTICE ANOTHER If you make \( \$ 27,200 \) and get \( \$ 1700 \) raises each year, in how many years will your salary double? (Assume you do not receive a raise the year you are hired.) yr

ASK YOUR TEACHER PRACTICE ANOTHER \( \begin{array}{l}\text { Suppose you are offered a job with a relatively low starting salary but with a } \$ 4000 \text { raise for each of the next } 5 \text { years. How much } \\ \text { more than your starting salary would you be making in the sixth year? } \\ \$\end{array} \) Need Help? Read It Master It

ASK YOUR TEACHER \( \begin{array}{l}\text { A retailer owes a wholesaler } \$ 700,000 \text { due in } 45 \text { days. If the payment is } 15 \text { days late, there is a } 1 \% \text { penalty charge. The retailer } \\ \text { can get a 45-day certificate of deposit (CD) earning } 9 \% \text { per year simple interest or a } 60 \text {-day certificate earning } 10 \% \text { per year } \\ \text { simple interest. Is it better to take the } 45 \text {-day certificate and pay on time or to take the } 60 \text {-day certificate and pay late with the } \\ \text { penalty? } \\ \text { The 45-day certificate is better. } \\ \text { The } 60 \text {-day certificate is better. } \\ \text { They are equivalent. }\end{array} \) Need Help?

QUESTION 29 Costs that a firm remaining in business will still incur in the short run even if it halts current production are called a. fixed costs. b. implicit costs. c. explicit costs. d. variable costs.

To maximize profit, a price-discriminating firm charges the lowest price to the group that a. is least responsive to price changes. b. has the most elastic demand. c. is most willing to resell the product to others. d. arrives first and waits longest in line.

Bill Casler bought a \( \$ 4000 \), 9 -month certificate of deposit (CD) that would earn \( 8 \% \) annual simple interest. Three months before the CD was due to mature, Bill needed his CD money, so a friend agreed to lend him money and receive the value of the CD when it matured. (a) What is the value of the CD when it matures? \( \$ \) (b) If their agreement allowed the friend to earn a 10\% annual simple interest return on his loan to Bill, how much did Bill receive from his friend? (Round your answer to the nearest cent.) \( \$ \) Need Help?

QUESTION 27 The marginal tax rate is defined as a. tax liability multiplied by taxable income. b. the change in tax liability divided by the change in taxable income. d. the change in tax liability minus the change in taxable income.

ASK YOUR TEACHER \( ] \) PRACTICE ANOTHER If \( \$ 5000 \) is invested at \( 7 \% \) annual simple interest, how long does it take to be worth \( \$ 7450 \) ? Need Help? Read It Submit Answer

ASK YOUR TEACHER PRACTICE ANOTHER \( \begin{array}{l}\text { A student has a savings account earning 3\% simple interest. She must pay } \$ 1900 \text { for first-semester tuition by September } 1 \text { and } \\ \$ 1900 \text { for second-semester tuition by January } 1 \text {. How much must she earn in the summer (by September } 1 \text { ) to pay the first- } \\ \text { semester bill on time and still have the remainder of her summer earnings grow to } \$ 1900 \text { between September } 1 \text { and January } 1 \text { ? } \\ \text { (Round your answer to the nearest cent.) } \\ \$\end{array} \).

Heute ist der 15.4. des Jahres. Eine Rechnung mit Rechnungsdatum 15.1. und einem Gesamtbetrag von 1.350,50 Euro (inkl. USt) ist seit 15.2. fällig, es sind daher Verzugszinsen in der Höhe von \( 11 \% \) und Mahnspesen von 8 Euro zu verrechnen. Dem Kunden wird eine letzte Zahlfrist von 14 Tagen gesetzt, die ebenfalls in die Verzugszinsen- berechnung mit einfließen sollen. Konvention: kIm/360. Berechnen Sie die Verzugszinsen und erstellen Sie eine Aufstellung über die zu verrechnenden Kosten sowie den gesamt zu bezahlenden Betrag.