Snow Corporation has provided the following information about one of its inventory items: Date - Transaction - Number of Units - Cost per Unit 1/1- Beginning Inventory - 460 - $3,000 6/6-Purchase - 815 - $3,675 9/10- Purchase - 1,215 - $4,225 11/15 Purchase - 875 - $4,500 During the year, Snow sold 2,970 units. What was ending inventory using the LIFO cost flow assumption?

Answers

Answer 1

In a periodic inventory system, the total cost of goods available for sale is allocated between the ending inventory and the cost of goods sold based on the inventory's assumed flow of cost.

Snow Corporation provided the following information about one of its inventory items: Date - Transaction - Number of Units - Cost per Unit1/1 - Beginning Inventory - 460 - $3,0006/6 - Purchase - 815 - $3,6759/10 - Purchase - 1,215 - $4,22511/15 - Purchase - 875 - $4,500During the year, Snow sold 2,970 units.

Using the LIFO cost flow assumption, the most recent purchase cost is used first to compute the cost of goods sold (COGS). We can calculate the ending inventory by subtracting COGS from the cost of goods available for sale. The calculation is as follows:

Cost of goods available for sale = Beginning inventory + Net purchases= $3,000 + $3,675 + $4,225 + $4,500= $15,400The cost of goods sold is calculated as follows:

Cost of goods sold = Units sold × Cost per unit

Units sold = 2,970 units

COGS for 875 units at $4,500 is $3,937.50

COGS for 1,215 units at $4,225 is $5,126.875

COGS for 815 units at $3,675 is $2,998.125

COGS for 65 units at $3,000 is $195

Total COGS = $12,257.50

Ending inventory = Cost of goods available for sale - COGS= $15,400 - $12,257.50= $3,142.50

Therefore, the ending inventory using the LIFO cost flow assumption is $3,142.50.

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Related Questions

Step 3: Now, let’s identify the factors that affect the Business Environment
As big as our economy is, it is still sensitive to changing dynamics that affect its performance and vitality. Consider these factors and how they impact business. CHOOSE JUST THREE FACTORS TO GIVE AN EXAMPLE FOR BELOW.

Economic: Jobs, interest rates & inflation are some of the forces that affect supply and demand, which determines how prices and quantities of goods and services perform in our economy.
Political/Legal: The stability of a government, and the types of laws it passes affects businesses profitability and investment
Demographic: Businesses have to consider their market’s age, gender, race, ethnicity and location.
Social: Attitudes, values, ethics, and lifestyles—influence what, how, where, and when people purchase products or services. They are difficult to predict, define, and measure because they can be very subjective.
Competition: Competition causes business to develop new products, services and technologies, and offer consumers greater selection and better products. The greater the selection of a good is in the market, prices are typically lower for the products,Global: Immigration/Refugees, political factors, tariffs, climate events and competition.
Technology: The use of science and engineering skills can be used to solve production and organizational problems. New equipment and software that improve productivity and reduce costs can be among a company’s most valuable assets.

Step 4: Choose THREE factors from the above list, and give an example of how you see this work in the economy:
(Name Factor here): (Example here of where you have seen this factor demonstrated).
(Name Factor here): (Example here of where you have seen this factor demonstrated).
(Name of factor here): (Example here of where you have seen this factor demonstrated).

(Example: Political/Legal: The Federal Reserve System)

Do you need more help understanding this topic? Read the linked article below.
Understanding the Business Environment (Link to Article)https://opentextbc.ca/businessopenstax/chapter/understanding-the-business-environment/

Answers

Ale jak się okazało w Polsce dniu narty nie skierowane to dniu tym świecie i jest ogóle nie ma problemu z tym że nie ma przecieku co w wszystko jutrzejszym terminie

Scott worked 57hrs last week. He gets paid a salary of $87,600. What is the amount of Scott's weekly check? (Round to the nearest cent)
A) $1,684.62
B) $894.55
C) $2,389.31
D) $3,369.23​

Answers

Answer: A) $1,684.62 

Because salary divided equals this

Evidence of stock ownership that specifies the name of the company, the number of shares it represents, and the type of stock being issued is called a(n) ______ certificate.

Answers

Evidence of stock ownership that specifies the name of the company, the number of shares it represents, and the type of stock being issued is called a share certificate.

What is the significance of a share certificate?

A share certificate can be referred to or considered as a certificate that identifies and expresses the details of the owner of a series of shares of a public company. Usually, share certificates are not issued for holders of shares in a demat account.

Therefore, the significance regarding a share certificate has been aforementioned.

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In the United States, total government purchases of goods and services make up about ____________________ percent of all the goods and services the country produces. a. 75 b. 32 c. 12 d. 50

Answers

The United States government is responsible for buying c. 12% of all goods and services.

Government spending in the United States comprises about 12% of the total GDP of the United States. The main things the government spends on are:

Defense Social welfare Education

By buying up these things, the U.S. government is not only helping and protecting Americans, it is helping the economy as well because government spending allows for employment to grow.

In conclusion, 12% of goods and services produced in the U.S. are purchased by the U.S. government.

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If the cash flows for project m are c0 1000 c1 200 c2 700 and c3 698 calculate the irr for the project

Answers

By adding the present values of all the upcoming cash flows, the original cost can be converted into the internal rate of return, or "r%." 23%

-1,000 + [200/(1+IRR)] + [700/(1+IRR)^2] + [698/(1+IRR)^3] = 0 IRR = 23%

What Is Internal Rate of Return (IRR)?

To assess the profitability of possible investments, financial researchers utilize the internal rate of return (IRR), a statistic. IRR is a discount rate that brings all cash flows' net present values (NPV) to zero in a discounted cash flow analysis. The formula is the same for both NPV and IRR calculations. Remember that the full financial worth of the project is not accurately reflected by the IRR. The NPV becomes negative due to the annual return.

0=NPV=∑Ct/ (1 + IRR) C0

where:

C t =Net cash inflow throughout the course of t.

C 0 = Initial investment costs overall

Internal rate of return (IRR)

t = The number of intervals

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Full Question - Given the following cash flows for Project M: C0 = -1,000, C1 = +200, C2 = +700, C3 = +698, calculate the IRR for the project.

A. 23%

B. 21%

C. 19%

D. 17%

Select the word or phrase that accurately completes each sentence.

Pressing the Backspace key will delete the text on the .

Pressing the Delete key will delete the text on the .

Answers

Answer:

Pressing the backspace key will delete the text on the leftPressing the delete key will delete the text on the right

Explanation:

Which of these images is most likely to portray nonverbal communication?

please help asap!!

Which of these images is most likely to portray nonverbal communication?please help asap!!

Answers

The second image is most likely to portray non-verbal communication. Hence, option B is correct.

What is non-verbal communication?

Nonverbal communication describes the methods by which people communicate their feelings, needs, intentions, attitudes, and thoughts without using words.

Body Language Human connection often involves nonverbal communication. For instance, a person's attitude and thoughts can be conveyed to others through tone, facial expressions, and gestures, and actions are frequently much more powerful than words.

Thus, option B is correct.

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Diego wants to buy a dirt bike. He borrows a $7,999 simple interest loan from the bank
for 36 months at an interest rate of 9.7%.How much simple interest will he pay

Answers

Answer:

$ 2,327.709

Explanation:

Only the principal amount is considered when calculating simple interest. In simple interest, the principal amount remains constant. The formula for simple interest is as I = p x i x t

where I = interest

P = principal amount ...

i= interest rate

t= time

For Diego, p= $7,999, i= 9.7% , t 36 months or 3 years

Diego will pay

I= 7999 x( 9.7/100) x 3

I= 7999 x 0.097 x 3

Diego will pay  $ 2,327.709

When making decisions, managers should consider all relevant benefits and relevant costs, which include: (Check all that apply.) Multiple select question. incremental costs. opportunity costs. historical costs. out-of-pocket costs. sunk costs.

Answers

Answer:

opportunity costs, incremental costs, out-of-pocket costs

Explanation:

The cost of the following finest possibility that is sacrificed is referred to as the opportunity cost. These are important considerations while deciding between two alternative options.The costs that the firm pays out of pocket are known as out of pocket charges. These are important considerations while making a judgment

The variation in costs between two decisions is referred to as incremental costs. All of these are important in making decisions.

PLEASE HELP I'LL GIVE THE BRAINLIEST
Select the correct answer. Which of the following correctly matches the banking term with the appropriate definition?
A. A deposit is the total amount of money you have in the bank.
B. A withdrawal is an amount of money you take out of the bank.
C. Your balance is the money you put into the bank.
D. All of the above​

Answers

B a withdrawal is a drawn amount of money from the bank

Answer:

its answer is B a withdrawal is an amount of money you take out of the bank

the most obvious cause of industrial smog is ________.

Answers

The most obvious cause of industrial smog is emissions from factories and industrial processes, which release large amounts of pollutants such as sulfur dioxide and nitrogen oxides into the air.

The most obvious cause of industrial smog is the burning of fossil fuels, particularly coal and oil, by industries and power plants. Industrial smog, also known as sulfur smog or gray smog, is a type of air pollution that is typically found in urban areas with high industrial activity. It is characterized by a thick, hazy, and often foul-smelling fog that can have harmful effects on human health and the environment. Industrial smog is primarily composed of sulfur dioxide, particulate matter, and other pollutants that are released into the atmosphere through the burning of fossil fuels. Industrial emissions can also contribute to the formation of acid rain and other forms of environmental degradation.

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List and explain ten factors to consider in preparing family income​

Answers

Answer:

1. Availability of Money:

The expenditure of a family depends upon the availability of money or total income of the family. It can afford to spend under various needs. In lower income group, families expenditure is more on food. Higher income group families spend more on recreation, education and luxuries etc.

2. The size and the composition of the family:

Expenditure depends upon the size and composition of the family. The size of the family means the number of adults and children. The more the mouths to eat the expenditure is more on food, clothing and shelter. With the growth of children, more will be spent on education and clothing. More will be spent towards transportation when the members go out of the house for work or study.

Composition of the family means the number of adults and children in the family. It also includes the number of males, females and old persons. For old persons, extra expenditure will be incurred towards health and medical expenses.

3. Stages of family life cycle:

Family life cycle plays an important role in spending money. At the beginning stage, most part of the family income is spent towards the establishment expenditure as a newly married couple starts their family life. In the expanding stage families need money for the children, their food, dress, education etc. Some families in the expanding stage spend more on purchasing durable household goods, furniture etc. In the contracting stage major expenditure is on wedding celebration of their children. During this stage, the family income is gradually reduced. So the expenditure should be cut short.

4. Occupation of the family members:

Sometimes expenditure of the family depends upon the occupation of the family members. In certain jobs, there are special benefits like free quarters, educational facilities for children, health and medical allowance, travelling allowance etc.

5. The needs and objectives of the family:

Expenditure will be done according to the needs and objectives of the family. For example, a family where young children are there, more will be spent for nutritious foods. Old people require health and medical expenses. Working women spend money for the servants as they do not find time to do the household work.

6. Resources:

Both human and material resources can make significant changes in the pattern of expenditure of a family. The abilities, skill, knowledge, interest, attitude and habits of the members of the family can be utilized for various purposes as supplementary income.

7. Locality of the family:

In rural areas more will be spent on food. But in urban areas the expenditure is more on education, recreation, transportation, accommodation etc.

8. Socio-economic status of the family:

The socio-economic status of the family is determined by its income, education level and occupation of the members. The higher the socio-economic status the expenditure will be more on interior decoration, higher education, club membership, accommodation, recreation etc. The total expenditure depends on the standard of living the family maintains.

9. Social and religious traditions:

Some families accept old and traditional values. So they spend more on marriages and religious festival.

10. Personal choice:

Expenditure depends upon the personal choice. For example, one person may have a liking for expensive perfumes and jewellery while another may have simple tastes. Expenditure is also affected by the measures taken in the family to make provision for the future like house building, higher education of children etc. The home-maker will be able to manage with her income by cutting out unnecessary and extravagant expenditure. “One must cut one’s coat according to his cloth.”

This saying is rightly proved in home management. Balancing of income and expenditure is the best way of money management. Whatever the income may be, the efficient management of money is a requisite for a happy, successful and peaceful family life.

The Fed buys $10 million of securities from AIG. AIG has a desired reserve ratio of 0.05, and there is no currency drain.
As soon as the open market purchase is made, the bank's excess reserves are at $___ million

Answers

Answer:

$200,000,000

Explanation:

Given that:

Amount of securities purchased = $10 million

Desired reserve ratio = 0.05

The bank's excess reserve :

Money multiplier * amount of securities purchased

Money multiplier = 1 / reserve ratio

Money multiplier = 1 / 0.05 = 20

Excess reserve = 20 * $10,000,000

Excess reserve = $200,000,000

which import does the united states most depend on to increase its industrial productivity?

Answers

America maximum rely on to boom its commerciaL productivity intermediate goods.

The required details about Intermediate goods is mentioned in below paragraph.

An intermediate goods is a product used to provide a very last exact or completed product—additionally called a client exact. Intermediate goods—like salt—also can be completed merchandise, seeing that it's far fed on without delay through purchasers and utilized by manufacturers to fabricate different meals merchandise.

Intermediate goods are bought among industries for resale or the manufacturing of different items. These items also are referred to as semi-completed merchandise due to the fact they're used as inputs to end up a part of the completed product. Intermediate goods  are critical to the manufacturing process, that is why they're additionally referred to as manufacturer items. Industries promote those items to every different for resale or to provide different items. When they're used withinside the manufacturing process, they're converted into every other state.

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Which best describes a mixture?
ООО
It has a single composition, and it has a set of characteristics that does not change.
It can have different compositions, but it has a set of characteristics that does not change.
It has a single composition, but it has a set of characteristics that does change.
It can have different compositions, and it has a set of characteristics that does change.

Answers

Answer: it can have different compositions, and it has a set of characteristics that does change.

Explanation:

A mixture is form when other substances are being mixed together. In such scenario, it has different composition and it characteristics are been altered.

Therefore, the option that best describes a mixture is option D "It can have different compositions, and it has a set of characteristics that does change"

Answer:

D.

Explanation:

How does technical education play a vital role to develop the entire nation?

​pls- don´t lie


;)

Answers

Answer: Education is needed for jobs. If we dont have education people cant get certain jobs. Without certain jobs the world would fall into a pandemic.

Explanation:

Answer:

Technical education play a vital role to develop the entire nation by improvimg the well beimg of youth and communities.

It increases the productivity. It also helps to accelerate the pace of work and motivate the person towards his/her work.It creayes skilled manpower and improves the quality of life.

14. Inequality to employees is one of the major demerits of
multinational
company. Explain

Answers

The correct answer to this open question is the following.

Although there are no options attached we can say the following.

Inequality to employees is one of the major demerits of a multinational company. This quote can be explained in the following way.

When multinational companies open offices or branches in other countries, regularly they do it in developing nations. The reason why is because in those developing countries these compies can pay cheaper salaries. That is why they leave their native country and open fabrics in regions such as Latin America, Central America, India, or Africa. Labor is cheaper than in the United States or European countries.

So there it is the inequality. Workers labor the same hours or more than workers in developed countries, but h¿they receive less money for their work and fewer perks.

Which of the following is an example of the average score that a class of students in a particular school received on a math exam?
1)Tacit knowledge
2)Explicit knowledge
3) Information
4) Data

Answers

The correct answer is:

4) Data

The manager of East India Ice Cream Shop keeps track of the number of customers served at different periods of the day in an attempt to plan a schedule for workers that matches the demand for the restaurant's products. By using this tracking system, the manager of East India is utilizing ________ control.

Answers

Answer: Output

Explanation: The output control system refers to one of the organizational control systems which is employed by business strategist and establishment in tracking the progress, growth, flaws and ways whereby an organization can improve, provide better services and ultimately make more revenue. The output control system is focused on that aspect of a business offering which can be quantified, such that executives could analyze the feedback and thus use it as a guide to provide and improve on future projects or services. In the scenario above, data was studied to identify peak periods in other to schedule worker's shift so that the organization would not fall short of workers at the time which they are mostly required.

The income statement of Small Town, Inc. is as shown below: Small Town, Inc. Comparative Income Statement Year Ended December 31, 2025 (In millions) Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Expense Total Other Income and (Expenses) Income Before Income Taxes Income Tax Expense Net Income $ O A. 35.71% OB. 44.29% OC. 21.43% O D. 55.71% $ 7,000 3,100 3,900 600 400 1,000 2,900 (400) (400) 2,500 1,000 1,500 Performing a vertical analysis, what is the percentage of Income Before Income Taxes to Net Sales?

Answers

To solve the problem, you need to calculate the percentage of Income Before Income Taxes to Net Sales. Vertical analysis is a technique that helps analyze financial statements by expressing each line item as a percentage of a base amount. In this case, we want to find the percentage of Income Before Income Taxes to Net Sales.Vertical analysis of the income statement of Small Town, Inc. Year Ended December 31, 2025 (In millions)
Particulars Amount Percentage Net Sales $7,000100.
Cost of Goods Sold $3,10044.
29% Gross Profit $3,90055.
71% Operating Expenses: Selling Expenses $6008.
57% Administrative Expenses $4005.
71% Total Operating Expenses$1,00014.
29% Operating Income $2,90041.
43% Other Income and (Expenses): Interest Expense($400)5.
71% Total Other Income and (Expenses)($400)
5.71% Income Before Income Taxes$2,50035.
71% Income Tax Expense$1,00014.
29% Net Income$1,50021.

Income before income taxes is calculated by subtracting all the expenses, including interest expense, from the operating income. $2,500 is the amount of income before income taxes, as shown in the income statement of Small Town, Inc. Net sales amounted to $7,000. To express Income Before Income Taxes as a percentage of Net Sales, use the following formula:Income Before Income Taxes / Net Sales x 100%
Income Before Income Taxes percentage = $2,500 / $7,000 x 100% = 35.71%

Performing a vertical analysis, we determined that Income Before Income Taxes accounts for 35.71% of Net Sales.

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Critical Thinking Questions

1.What factors impact a business’s profits and revenues? Identify several factors that can affect profits and revenues and specify if these factors are internal or external. Explain whether the impacts from these factors are positive or negative.

2.What does productivity mean to you? How does this differ from what productivity in business means? Explain the concept of productivity in business and compare and contrast how this differs from the concept of productivity in your own current life.

3.Imagine that you are a business owner. You own a small donut shop on a beach boardwalk in Southern Florida. Based on this, what are some factors that could potentially impact your expenses? How could you prepare for these changing expenses so that they do not too negatively impact your business? Explain.

4.What is the purpose of specialization of labor in business? As a business owner, how might you ensure that you are making the best use of your employees’ areas of specialization? What impact, either positive or negative, can specialization of labor have on the productivity of your employees and your business? Explain.

5.Put yourself in the shoes of a US-based retailer who also manufactures the products they sell. Perhaps you manufacture and sell clothing items or cell phone accessories. Whatever you make or sell, imagine that you discover it is cheaper to manufacture this item overseas and ship the finished product back here to sell—would you do this? Or would you choose to manufacture your item here in the United States? Explore some of the positives and negatives to both options and explain your reasoning behind your decision. Is the decision purely a result of your estimate of costs and potential profits, or do you believe there is also a patriotic reason for this decision? Explain your thinking.

Answers

The answers to the critical thinking question are given as follows:

Factors impacting a business's profits/revenues include internal factors such as cost of goods sold, overhead, and workforce, as well as external factors such as competition, market demand, and economic conditions. The impact can be positive or negative.Productivity to me means using time effectively to accomplish personal goals. In business, productivity is the measure of output per unit of input, usually time and labor.As a donut shop owner, factors affecting expenses could be food cost, rent, seasonal changes, and competition. Preparation can include controlling food cost, negotiating rent, and offering special promotions.Specialization of labor in business allows for increased efficiency and expertise. A business owner can ensure the best use by assigning tasks based on employees' strengths, training and supporting them. Can positively impact productivity.As a retailer/manufacturer, cost and potential profits are key factors, but also consider supply chain stability and quality control. There may be a patriotic reason to manufacture in US, but this must be balanced with financial viability.

What is Critical Thinking?

The investigation of available facts, evidence, observations, and arguments to create a decision is known as critical thinking.

The topic is complicated; numerous definitions exist, but they all contain a reasoned, skeptical, and unbiased investigation or evaluation of factual facts.

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Even through the United States is traditionally viewed as a market economy, what role does the government have in the economy?
A. The government is in charge of setting the prices within the economy.
B. The government is in charge of the taxing and spending of the government.
C. The government has no role within the market economy of the United States.
D. The government is to make sure that there is fairness and equity within all markets of the economy.

Answers

Answer:

D. The government is to make sure that there is fairness and equity within all markets of the economy.

Explanation:

The USA is a predominantly free-market economy. Entrepreneurs are free to decide where and the nature of the business to set-up. Buyers have the liberty to purchase from their preferred suppliers. Demand and supply forces determine the goods and services to be availed in the market and their prices.

The US government participates in the economy as a regulator. Its primary role is to promote fair competition among suppliers, guard consumers against unfair exploitation by traders, and safeguard worker interest. The government may provide essential public services such as roads, health, and education but the majority of factors of production are in the private sector.

the answer is B. The government is in charge of the taxing and spending of the government.

Does using a zero-based budget mean that your bank account will hit $0 at the end of every month?

Answers

Answer:

No silly! :)

Explanation:

Zero-based budgeting is a repeatable process that organizations use to rigorously review every dollar in the annual budget, manage financial performance on a monthly basis, and build a culture of cost management among all employees. Basically, all budgets must be justified for each monthly period.

How do people with a growth mindset view and respond to challenges?.

Answers

A person with a growth mindset will more likely embrace a challenge and work through setbacks. ... A person with a fixed mindset will just see the obstacle and may even avoid the effort to overcome it for fear of failure, or may decide to cheat rather than to fail.
Also people with a growth mindset They see challenges as opportunities to learn and push their abilities.

What is a 401 (k) retirement plan? I NEED HELP:(

Answers

Answer:

-an employer sponsored retirement plan that allows a worker to save for retirement while deffering income taxes on the saved money or earnings until withdrawal.

Explanation:

just cause homie

A 401(k) retirement plan is a retirement plan sponsored by the employer where he or she deducts a small percentage of the gross pay of the employee.

What is the significance of the 401(k) retirement plan?

A 401(k) retirement plan can be referred to or considered as a plan where the employer contributes a fixed and a small proportion from the gross pay of the employee until the time he or she serves to the company of the employer.

An employee is free from paying any kind of taxation amount over the monies he or she has saved in a 401(k) retirement plan. However, the taxation is not a liability only until the employee makes a withdrawal.

Therefore, the significance regarding a 401(k) retirement plan has been aforementioned.

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An upper-level is manager proposes that his organization implement a system to consolidate shipping and exception data from multiple carriers so that consumers know when their purchase will ship and when it will arrive. What business strategy does this represent?.

Answers

An upper-level manager proposes that his organization implement a system to consolidate shipping and exception data from multiple carriers so that consumers know when their purchase will ship and when it will arrive. This represents a differentiation business strategy.

What are business strategies?

A business strategy lays out the course of action that will be taken to fulfill the organization's vision and goals, as well as how to make decisions that will increase the company's financial stability in a cutthroat market.

In order to differentiate themselves from the products that their rivals may provide in the market, businesses must offer clients something special, distinctive, and different. Increasing competitive advantage is the main goal of putting a differentiation strategy into practice.

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When your tire blows out in the middle of a drive, you should

Answers

You should tap the breaks repeatedly and pull over

get out of the car and change it

In your own words, explain why we pay taxes.

Answers

Answer: To help support public schools and the economy.

Explanation:

(a) Write a DE that can be used to model the credit card balance of someone who is charged a monthly interest rate of 1.2% and makes payments of $240 per month. Let B(t) to be the credit-card balance at time t (in months). SUGGESTED EVIDENCE: You should write a differential equation indicating what the terms represent / how you developed the equation. (b) You should get a separable DE for part 2a Find the general solution of this DE. SUGGESTED EVIDENCE: You should show your work for finding the general solution (c) Find the particular solution that has B(0) = 10000. SUGGESTED EVIDENCE: You should show work for how you found the particular solu tion. (d) If the initial balance it $10000, how long will it take before the balance reaches zero? SUGGESTED EVIDENCE: You should show work/a figure to explain how you found this answer

Answers

(a) The differential equation that can be used to model the credit card balance is: dB/dt = 0.012B - 240., (b) The separable differential equation is: dB / (B - 20000) = 0.012dt ,(c)  the particular solution is ln(|B - 20000|) = 0.012t + ln(10000)., (d) it will take approximately 22.92 months for the balance to reach zero.

(a) To model the credit card balance of someone who is charged a monthly interest rate of 1.2% and makes payments of $240 per month, we can use the following differential equation:

dB/dt = r * B - p,

where B(t) represents the credit card balance at time t, r is the monthly interest rate (1.2% or 0.012), and p is the monthly payment ($240).

The term r * B represents the interest accrued on the credit card balance, and the term p represents the payment made to reduce the balance.

(b) To solve the differential equation from part (a), we can separate the variables. Rearranging the equation, we have:

dB / (r * B - p) = dt.

Now we integrate both sides:

∫(1 / (r * B - p)) dB = ∫dt.

The integral of 1 / (r * B - p) with respect to B is ln(|r * B - p|), and the integral of dt is t. Therefore, we have:

ln(|r * B - p|) = t + C,

where C is the constant of integration.

(c) To find the particular solution with B(0) = 10,000, we substitute the initial condition into the general solution from part (b):

ln(|r * B - p|) = t + C,

ln(|r * 10,000 - 240|) = 0 + C,

ln(|r * 9,760|) = C.

Thus, the particular solution is:

ln(|r * B - p|) = t + ln(|r * 9,760|).

(d) If the initial balance is $10,000, we need to find the time it takes for the balance to reach zero. Setting B(t) = 0 in the particular solution, we have:

ln(|r * B - p|) = t + ln(|r * 9,760|),

ln(|r * 0 - p|) = t + ln(|r * 9,760|),

ln(|-p|) = t + ln(|r * 9,760|).

Simplifying further:

ln(|p|) = t + ln(|r * 9,760|),

|p| = e^(t + ln(|r * 9,760|)).

Since the payment p is $240 (a positive value), we have:

240 = e^(t + ln(|r * 9,760|)).

To find t, we can take the natural logarithm of both sides:

ln(240) = t + ln(|r * 9,760|).

Solving for t, we subtract ln(|r * 9,760|) from both sides:

t = ln(240) - ln(|r * 9,760|).

Using the given monthly interest rate of 1.2% (r = 0.012), we can substitute the values into the equation to find the time it takes for the balance to reach zero.

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