question 7 your daughter will start college one year from today, at which time the first tuition payment of $ 58 , 000 $58,000 must be made. assuming that tuition does not increase over time and that your daughter remains in school for four years, how much money do you need today in your savings account, earning 5 % 5% per annum, in order to make the tuition payments over the next four years?
Answers
Let’s say the amount of money that needs to be saved today is x dollars. As the tuition fee does not increase, it remains the same i.e. $58,000 per year.
Therefore, over the four-year period, the total fee amount is $58,000 x 4 = $232,000.Therefore, the money has to be saved in such a way that it covers the tuition fee for four years at a 5% interest rate per annum.
Hence, the interest earned over four years will also be a part of the savings.
This can be calculated by using the compound interest formula which is given by;A \(= P(1 + r/n)^(n*t)\) Where,A = final amount; P = Principal (initial amount) invested; r = annual interest rate; t = time in years; n= number of times interest is compounded annually have, Principal (P) = x dollarsAnnual interest rate (r) = 5% or 0.05. A number of years (t) = 4 years number of times compounded annually (n) = 1 (compounded annually)As we know that the final amount (A) is the sum of the initial amount (Principal) and the interest earned over the years, so, A \(= P(1 + r/n)^(n*t)x\) dollars in the savings account earning 5% per annum will be, A \(= x (1 + 0.05/1)^(1*4)A = x (1.05)^4\) Now, the total amount needed over the next four years = $232,000So, we can equate the amount needed with the final amount (A), then,$\(232,000 = x (1.05)^4\).Therefore, the amount that needs to be saved today is;\(x = $232,000 / (1.05)^4x\)= $188,086.12.
Therefore, the amount that needs to be saved today is $188,086.12.
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Related Questions
Which results are more likely for someone without personal finance skills? Select three options.
larger long-term credit or loan costs
less preparation for emergencies
fewer utility expenses
simple long-term investment strategies
increased long-term challenges
Answers
Answer:
1,2 & 5
Explanation:
Answer:
1, 2, 5
Explanation:
edge 2021
The W.C. Pruett Corp. has $550,000 of interest-bearing debt outstanding, and it pays an annual interest rate of 7%. In addition, it has $800,000 of common equity on its balance sheet. It finances with only debt and common equity, so it has no preferred stock. Its annual sales are $21 million, its average tax rate is 25%, and its profit margin is 3%. What are its TIE ratio and its return on invested capital (ROIC)? Round your answers to two decimal places.
Answers
The TIE ratio for the W.C. Pruett Corp. is 16.36 and its ROIC is 43%.
To calculate the Total Interest Coverage (TIE) ratio, we need to divide the earnings before interest and taxes (EBIT) by the interest expense. First, we calculate the EBIT by multiplying the profit margin by the sales: EBIT = Profit Margin * Sales = 0.03 * $21,000,000 = $630,000.
Next, we calculate the interest expense by multiplying the interest-bearing debt by the annual interest rate: Interest Expense = Debt * Interest Rate = $550,000 * 0.07 = $38,500.
Now we can calculate the TIE ratio by dividing the EBIT by the interest expense: TIE = EBIT / Interest Expense = $630,000 / $38,500 = 16.36 (rounded to two decimal places).
To calculate the Return on Invested Capital (ROIC), we need to divide the EBIT by the sum of the interest-bearing debt and common equity.
ROIC = EBIT / (Debt + Equity) = $630,000 / ($550,000 + $800,000) = 0.43 (rounded to two decimal places) or 43%.
Therefore, the TIE ratio for the W.C. Pruett Corp. is 16.36 and its ROIC is 43%.
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Two raiseto power three over four plus three raiseto power three over ten minus one raiseto power seven over right
Answers
Two raiseto power three over four plus three raiseto power three over ten minus one raiseto power seven over right
than the answer is approximately 2.3351.
To answer your question, we need to simplify the expression you provided. We can use the order of operations (PEMDAS) to make sure we do the operations in the correct order.
First, we need to simplify the exponents. Two raised to the power of three over four is the same as the fourth root of two cubed, which is the fourth root of eight. Similarly, three raised to the power of three over ten is the same as the tenth root of three cubed, which is the tenth root of twenty-seven. Lastly, one raised to the power of seven is just one.
Now we can substitute these simplified values into the expression: fourth root of eight plus tenth root of twenty-seven minus one.
We can further simplify the radicals by finding their decimal approximations: the fourth root of eight is approximately 1.6818 and the tenth root of twenty-seven is approximately 1.6533. Substituting these values, we get:
1.6818 + 1.6533 - 1 = 2.3351
So the final answer is approximately 2.3351.
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How do banks create money?
a) by issuing loans and opening checking accounts
b) by holding money in their vaults
c) by charging interest
d) by printing it
Answers
Banks do not really have any goods to sell, they’re in the business of holding money for others and loaning that money out to others, normally with interest. It is the interest off of loans that normally create income and allow the bank to have a positive cash flow.
The correct answer is option B) by holding money in their vaults.
How does a bank make money?
Banks make money from service charges and fees. These fees vary based on the products, ranging from account fees (monthly maintenance charges, minimum balance fees, overdraft fees, non-sufficient funds (NSF) charges), safe deposit box fees, and late fees.
Where do banks borrow money from?Banks can borrow from the Fed to meet reserve requirements. The rate charged to banks is the discount rate, which is usually higher than the rate that banks charge each other. Banks can borrow from each other to meet reserve requirements, which are charged at the federal funds rate.
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How is a game designer different from a writer?
Answers
Answer:game desighners are mostly online
Explanation:
Which economic tool would most likely be used as part of a contractionary
monetary policy?
A. Lowering the reserve requirement
O B. Raising interest on reserves
C. Buying treasury securities
D. Reducing the discount rate
SUBMIT
Answers
Answer:
O B. Raising interest on reserves
Explanation:
The Federal Reserve expects banks to keep a percentage of customer deposits as reserves. The reserves cater to both the normal and unexpected withdrawals. The Federal Reserve (Fed) also uses reserve requirements as a monetary policy tool.
Interest on reserves is one of the monetary policy tools that the Fed uses regularly. The Fed pays interest on any excess reserves held by the banks. Increasing the interest paid on reserves encourages banks to hold more money. Decreases the interest prompts the banks to lend out more. Contractionary monetary policies are measures aimed at decreasing the money supply in the economy. Increasing interest on reserves increases money held in the banking sectors, thereby slowing down money circulation.
Answer: B. Raising interest on reserves
Explanation:
Just got it right!!!
The concept of stare decisis is closely related to the concept of
a. the bystander rule.
b. statutory law.
c. precedent.
d. enabling legislation.
Which person argued that a corporate manager's primary responsibility is to the shareholders of the organization and that managers should make the company as profitable as possible while also complying with the law?
a. John Rawls
b. John Stuart Mill
c. Immanuel Kant
d. Milton Friedman
Which of the following is TRUE about affirmative action?
a. Affirmative action is prohibited by Title VII.
b. Affirmative action programs are usually voluntary on the part of employers, since courts have no power to order remedies for past discrimination.
c. Affirmative action is allowed in government contracts if it can show the programs are needed to overcome specific past discrimination.
d.Affirmative action is required by Title VII.
Answers
C. Affirmative action is allowed in government contracts if it can show the programs are needed to overcome specific past discrimination.
What is contracts?Contracts are legal agreements between two or more parties that are enforceable by law. They are created to ensure that all parties involved in the agreement understand their rights and obligations and are legally bound to fulfill them. Contracts may take the form of verbal or written agreements and can cover a wide range of topics, including employment, real estate, services, and financing.
Affirmative action is a set of policies and practices designed to incorporate individuals from underrepresented groups into the labor force. Affirmative action is allowed in government contracts if the government can demonstrate that specific past discrimination has occurred and that the affirmative action program is necessary to remedy the effects of the discrimination. Title VII does not explicitly prohibit affirmative action programs, so it is up to courts to determine if a particular affirmative action program is permissible.
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How does marketing help your product or service
Answers
Answer:
Marketing informs your customers about the products or services you're offering them. Through marketing, the customers get to know about the value of the products, their usage and additional info that might be helpful to the customers. It creates brand awareness and makes the business stand out.
Explanation:
pls help me asap.....
Answers
Answer:
d
Explanation:
Michael spent $18 at a local farmers’ market. the apples he bought cost $2 per pound, and the peppers cost $3 per pound. how many pounds of apples and peppers did he buy? this equation represents the scenario: 2a 3p = 18 choose the equations that are equivalent. check all that apply. p = two-thirds a 6 p = negative two-thirds a 6 a = negative 1 and one-half p 9 a = 1 and one-half p 9 a = startfraction negative 3 p 18 over 2 endfraction
Answers
The number of pounds of apples is x= 9-3/2y and the number of pounds of peppers is y = 6-2/3x
An equation with some variables is referred to as a system of equations. To find the values for the variables, two or three equations are solved using the basic procedures of substitution and elimination.
Let us consider the number of pounds of apples as x and the number of pounds of peppers as y
Apples cost = Pounds of apple*Cost per pound
Peppers cost = Pounds of pepper*Cost per pound
Total amount = Apple cost + Peppers cost
18 = 2x + 3y
The number of pounds of apples:
18-3y = 2x
x = 18-3y/2
x = 9 -3/2y
The number of pounds of peppers:
18 - 2x = 3y
18 - 2x/3 = y
6 - 2/3x = y
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Predict Consequences When the economy is
expanding, which of the following is a business
MOST likely to do?
A. close its international branches
B. lay off employees
C. invest in new equipment
D. cancel new product development
Answers
The correct option is C.
When the economy is expanding, the business invests in new equipment.
What happens during an expansion in the economy?Expansion, in economics, is an upward trend in the business cycle, characterized by an increase in production and employment, which in turn causes an increase in the incomes and spending of households and businesses.
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Which of the following could be an outcome of unexpected inflation?
O Export goods decrease.
O Foreign goods cost less.
O Worker education increases.
O Workers have more purchasing power.
Answers
An outcome of unexpected inflation could be that (A) export goods decrease.
Inflation comes in two forms: anticipated and unanticipated. Unanticipated inflation occurs as a result of events beyond our control such as natural disasters (tornadoes, earthquakes, tsunamis, etc.) and pandemics (chickenpox, smallpox, etc.). As a result of these undesired changes, more products are needed to suffice until the pandemic calms.
An example of a pandemic which required more products was the 1918 Flu Pandemic. During this global crisis, many people were in need of disinfectants, personal hygiene products, and food so they would not have to keep going outdoors around other people. Not only did companies have to increase the amount of products made, but they also had to limit how much could be exported because they needed it for themselves as well.
As an outcome of unexpected inflation, export goods decrease because more is supplied for domestic use than foreign trade.
A review of clients of the auditing firm of Meg & Steve (M&S) revealed that the following engagement was potentially in breach of the independence requirements of APES110. M&S is divided into different, autonomous divisions with each having separate partners and staff. The IT Consulting Division has recently assisted an audit client, BAT Pty Ltd, with installing a new financial accounting system. The IT Consulting Division chose the most suitable system for the company and trained the BAT staff, but no one from M&S has processed any transactions or made any accounting entries. Required:
(i) Does a potential threat to audit independence exist in the circumstances (Yes/No)?
(ii) If your answer to part (i) is yes, identify the single most significant type of potential threat and recommend a safeguard, if any, that could reduce or remove the threat. Alternatively, if your answer to part (i) is no, give reasons why no threat exists.
Answers
Does a potential threat to audit independence exist in the circumstances (Yes/No)?Yes, a potential threat to audit independence exists in the circumstances.
identify the single most significant type of potential threat and recommend a safeguard, if any, that could reduce or remove the threat. Alternatively, if your answer to part (i) is no, give reasons why no threat exists.A potential threat to audit independence exists due to the self-interest threat. This is because the IT Consulting Division of Meg & Steve has provided services related to financial information systems to BAT Pty Ltd, which is also an audit client of Meg & Steve.
Therefore, the IT Consulting Division may have a vested interest in the success of BAT Pty Ltd, and this could result in biased financial statements and reduced independence.The threat of the IT Consulting Division's self-interest could be mitigated by the application of safeguards. Meg & Steve could establish policies and procedures to prohibit the IT Consulting Division from participating in the audit process of BAT Pty Ltd. Moreover, they could engage an external party to carry out the audit process to maintain independence.
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Please help me? I need help..
Answers
yes? please explain your problem a little more in detail...I might be able to help u
Assume that instead of the military-equipment issue, Thomas's religion required that he take a break at noon every day to take illegal drugs. The drugs are considered "Schedule 1" drugs, meaning the government has evaluated them and determined that the drugs have no medicinal value but have a high risk of addiction or serve as "gateway" drugs, leading users to even more serious drugs. The state relies on studies linking drug use to criminal activity and violence.
Answers
Answer:
CompellingValidExplanation:
A compelling interest refers to a choice that is not made out of choice but out of necessity. In Thomas's case, as the drug is considered a gateway drug that might get him addicted to others that might then lead him to a life of crime, it is necessary that his actions are nipped in the bud and that would work by violating Thomas's religious freedom and justifiably so.
If the court considers the state's reasons sufficient, then the regulation that violated Thomas's religious freedom is valid and should not be struck down because it is the only way that the Governmental objective of lower crime can be achieved in this instance.
List five different revenue streams below and briefly explain the importance of each.
(Will give brainliest)
Answers
The nature of revenues, their cyclicality and predictability, and, of course, the evaluation and analysis of how to increase or stabilize revenues for the business are all aided by having a working knowledge of revenue streams.
What are the five e-commerce revenue models? Revenue Model for Sales... Model for Advertising Revenue. 3 Model for Revenue from Subscriptions... Model for Revenue from Transaction Fees... Model for Affiliate Revenue.What is revenue and how significant is it?Your company's revenue is the money it receives during a specific accounting period. Because it appears first on your small business's income statement, revenue is also known as the top line. To determine your company's bottom line, you subtract revenue from business expenses.
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delta pastries, inc. contracts with eve to deliver its products. later, the parties decide to cancel their contract. they
Answers
Eve and Delta Pastries, Inc. must abide by the conditions of their agreement if they elect to end their product supply agreement. These could include clauses outlining how to end the contract, like giving written notice and stating the termination's start date.
The parties may need to seek legal advice or pursue other dispute resolution procedures like mediation or arbitration if they are unable to settle any disputes that result from the termination of their contract. In order to minimize any bad effects on both businesses and preserve a fruitful working relationship going future, Delta Pastries, Inc. and Eve should handle the cancellation of a contract with professionalism and respect.
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Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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Question 1 of 10
The primary remedy for a tort is
A. monetary compensation
B. imprisonment
C. arrest
D. defamation
Answers
Answer:
A. monetary compensation
Explanation:
The main remedy against tortious loss is compensation in damages or money. In a limited range of cases, tort law will tolerate self-help, such as reasonable force to expel a trespasser. This is a defense against the tort of battery.
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What is the primary purpose of a trading bloc? (5 points) group of answer choices to foster political and social unity to lower manufacturing costs to reduce or eliminate tariffs to create free market economies
Answers
The primary purpose of a trading bloc is to reduce or to eliminate the tariffs. Option C is correct.
What is the trading blog?A trading bloc is a kind of intergovernmental agreement, frequently part of a regional intergovernmental organization, in which trade restrictions between participating governments are decreased or totally abolished.
Trade blocs can arise as independent agreements between states or as part of a regional organization. The fundamental purpose of that type of blog is to reduce or eliminate the tariff.
Therefore, option C is correct.
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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A method of cost assignment where a cost can be associated to the particular cost object in an economically feasible way is called ________.
Answers
Answer:
indirect costs
Explanation:
costs related to a particular cost object that cannot be traced to that cost object in an economically feasible way. cost assignment. general term for assigning costs, whether indirect or direct.
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Which of the following would be an effective approach for encouraging authentic feedback? A. Defend yourself if you disagree with criticisms you receive. B. In the beginning, ask for feedback each time you see the person. C. Ask for feedback only when you are open to hearing it. D. only in formal situations, so employees understand the importance of the feedback.
Answers
Answer:
C. Ask for feedback only when you are open to hearing it.
Explanation:
Feedback refers to providing the information gathered after evaluating any specific action or event. Providing authentic feed-backs helps in promoting and improving the better quality of the original topic. It is more personalized and user-oriented. There are various ways by which authentic feed-backs can be given. Through messaging, writing, discussing over calls, and conversations over video calls helps in providing authentic feedback. Asking for feedback should be initiated by the person only when the person is willing to listen and acquire those feed-backs is an effective approach for encouraging authentic feedback.
McDonald's has a policy that, in addition to ketchup, mustard, and onions, all burgers must have two pickles. This contributes to efforts to reduce the ______ gap and provide measurable service quality based on expectations.
Answers
McDonald's has a longstanding policy that specifies all burgers must have two pickles in addition to ketchup, mustard, and onions. This policy has several benefits, one of which is contributing to efforts to reduce the expectation gap and provide measurable service quality.
The expectation gap refers to the difference between customers' expectations of a service and their perception of the actual service quality delivered. By ensuring that all burgers have two pickles, McDonald's is establishing a consistent standard across its menu items. This consistency helps to narrow the expectation gap by ensuring that customers receive what they expect when they order a burger from McDonald's. If a customer expects their burger to come with two pickles, and it consistently does, their perception of the actual service quality aligns with their expectations, reducing the expectation gap.
MoreoverMoreover, the policy of including two pickles in every burger helps to establish a benchmark for service quality. This benchmark is important because it provides a measurable standard that can be used to evaluate the quality of service delivery. By including two pickles in every burger, McDonald's can measure the consistency and accuracy of their service delivery. If a burger consistently has two pickles, this demonstrates that the restaurant is delivering a consistent level of service quality. If the number of pickles varies, it indicates a potential problem with service quality, which can be addressed and rectified.
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Barry Olson has mastered strong technical skills as the manager of a large toy store. He is very skilled at all the aspects of managing the store and the employees of the store. Soon, he will take a new position as regional manager for several toy stores. His boss remarked to him last week that he will be utilizing his _____ skills to communicate, coach, and motivate managers who have positions similar to his old position.
Answers
Answer:
human
Explanation:
Human skills are the skills that can be related to one another. The person who have the strong human skills that could easily engaged with the audience, potential customer. ALso at the same time they would able to connect with the people and those people who feel the individual at personally level
So as per the given situation it is a human skills
the class responsibility collaborator (crc) diagram is more like an index card set where each index card has three portions. what does the responsibility portion contain?
Answers
In a Class Responsibility Collaborator (CRC) diagram, the responsibility portion of an index card contains information about the tasks or responsibilities assigned to a particular class in a software system.
The responsibility portion in a CRC diagram is an essential component that helps in understanding the behavior and tasks associated with each class in a software system. It provides a clear and concise description of what a specific class is responsible for in terms of its functionality and operations within the system.
The responsibility portion of an index card in a CRC diagram typically includes a brief statement or list of responsibilities associated with the class. These responsibilities can include tasks such as data manipulation, calculations, processing input, generating output, interacting with other classes, or handling specific functionalities within the software system.
By identifying and documenting the responsibilities of each class in the CRC diagram, it becomes easier to analyze and design the interactions between classes, ensuring that the system's overall functionality is well-distributed and organized. The responsibility portion serves as a reference point for understanding the roles and tasks performed by different classes, facilitating effective communication and collaboration among the development team.
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Question down below, Real answer only, no websites. Just an answer.
Answers
Answer:
Explanation:
BBBBBBB
Is it possible for average total cost to be decreasing over a range of output where marginal cost is increasing? briefly explain.
Answers
Yes. Average total cost will be falling if marginal cost is lower than average total cost.
Do marginal costs have an impact on average total costs?When the marginal cost of production is lower than the average cost of creating earlier units, as it is in the locations to the left of where MC crosses ATC, generating one more extra unit will lower average costs overall, causing the ATC curve to slant downward in this region.Average total cost will decrease when marginal cost is lower than average total cost, whereas average total cost will increase when marginal cost is higher than average total cost. Average total cost (ATC) = marginal cost, where ATC = marginal cost is where a firm is most productively effective (MC). Average total cost will be falling if marginal cost is lower than average total cost.To learn more about Average total cost refer to:
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As an upcoming project manager, you are required to write a short paper on the following topic to be delivered at an upcoming project management conference in Gaborone. Projects managers bave existed time in memorial. However, the work of a contemporary project manager is challenged by many issues. Identify five issues that a contemporary manager is likely to face today while implementing projects as opposed to their counterparts in olden times.
Answers
Contemporary project managers face several challenges that differentiate them from their counterparts in the past. Five key issues they are likely to encounter today include increased complexity, globalization, rapid technological advancements, stakeholder management, and changing market demands.
Contemporary project managers face increased complexity compared to their counterparts in the past.
Projects today often involve multiple stakeholders, intricate supply chains, and interconnected systems, requiring managers to navigate complex organizational structures and dynamic environments.
Globalization is another challenge faced by contemporary project managers. Projects are frequently executed across different geographical locations, involving diverse cultures, regulations, and communication challenges.
Managers must possess the skills to effectively collaborate and manage teams across borders.
Rapid technological advancements present both opportunities and challenges for project managers.
The integration of emerging technologies, such as artificial intelligence, internet of things, and big data, requires managers to adapt to new tools, processes, and methodologies to ensure successful project implementation.
Effective stakeholder management is crucial in contemporary project management.
Project managers must engage and align the expectations of various stakeholders, including clients, team members, sponsors, and communities, to ensure project success and maintain positive relationships.
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Which is true of variable-rate loans?
O The rate can only go up.
O The rate can only go down.
O The rate can go up or down, depending upon the index it is tied too.
O The interest rate can fall below 0
Answers
Answer:
c is the answer
Explanation:
The statement true of variable-rate loans is The rate can go up or down, depending upon the index it is tied to. Thus the correct option is C.
What are variable-rate loans?Borrowing with a variable rate means that the interest rate will change over time in accordance with market conditions. It is predicated on a fundamental benchmark interest rate or index, which fluctuates often with the market.
Since their initial rates of interest are typically lower than those of fixed-rate loans, the rates and payments are subject to fluctuation. Individuals are assessed an additional premium by banks and other financial institutions beyond this benchmark rate.
In addition to the payment schedule, variable-interest-rate loans operate much like credit cards. Variable interest rates may rise to the point that the borrower finds it impossible to repay the loan.
Therefore, option C is appropriate.
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