answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Zanzabum
2 years ago
4

Jeremy has been out of school for two years, has a good job, and recently got a raise. He is excited about investing and always

puts part of his check into savings. Although he has $6500 in debt left to pay, he is making more than the minimum payments and should be debt free in 15 months. Should he continue to save or pay off his debt? Justify your answer
a. Pay bills
b. emergency fund
c. pay off debts
d. debt snowball
Business
1 answer:
cluponka [151]2 years ago
4 0

Answer:

There is o information available on how much he saves, the interest on savings and the interest cost on debt. But from the look of this question, The most suitable answer is C. pay off debts.

Explanation:

As general rule, you should only consider on investing and retirement planning once you are out of the significant debts (apart from housing debt).

Here it says it may take 15 months for Jeremy to pay off the debt. In my opinion, he can save less these days and put more money into paying off the debt first. Maybe in that way, he'll be able to pay it in, lets say, 10 months?

Moreover, he will have to cut off his daily spending habits to save a bit more extra money to either save or to pay off the loan.

He does not need to stop saving entirely though, my advice is keep saving but put a larger proportion into paying the debt. Like put 70% to pay off the deb and 30% into saving from the excess funds.

You might be interested in
If frost in Florida reduces the quantity of vegetables sold by 20 percent and increases their retail price by 30 percent, one ca
Anit [1.1K]

Answer: The supply of vegetables has shifted to the left along an inelastic demand curve

Explanation: The quantity of vegetables sold has been reduced by 20 percent, which simply means the aggregate market supply curve has experienced a drop/decrease and that is usually indicated by a complete shift of the supply curve to the left.

Furthermore, we can determine easily if the demand is elastic or inelastic, since the question has stated the percentage change in quantity demanded as 20% and the percentage change in price as 30%.

The coefficient of elasticity is calculated as

E = %change in quantity demanded/%change in price

E = 20/30

E =0.66

Since the coefficient of elasticity is less than 1, then it means demand is inelastic.

3 0
2 years ago
Read 2 more answers
The balances in Sanchez Accounting Services' office supplies account on February 1 and February 28 were $1,100 and $475, respect
Hitman42 [59]

Answer:

$575

Explanation:

Given that,

Opening office supplies = $1,100

Closing office supplies = $475

Office supplies expense for the month = $1,200

Opening stock + Purchases - Closing stock = Consumption

$1,100 + Purchases - $475 = $1,200

$625 + Purchases = $1,200

Purchases = $1,200 - $625

                  = $575

Therefore, the amount of office supplies was purchased during February is $575.

7 0
2 years ago
The demand function for a certain make of ink-jet cartridge is the following where p is the unit price in dollars and x is the q
Paul [167]

Answer:

The answer to the following question is: (-9.34)

Explanation:

Given that:

p = -0.07 x^2 - 0.7x  + 6

The price elasticity of demand = ( change in quality / change in price)

     =   (dp / dx)  (x/p)

     =   d / dx   (-0.07 x^2 - 0.7x  + 6)   x / p

     =   (-0.14x - 0.7)  x/ (-0.07 x^2 - 0.7x  + 6)

elasticity = (-0.14x^2 - 0.7x) / (-0.07 x^2 - 0.7x  + 6)

at x=5;

elasticity = (-0.14(5)^2 - 0.7(5)) / (-0.07 (5)^2 - 0.7(5)  + 6)

              = (-3.5 - 3.5) / (-1.75 - 3.5 + 6)

              =  -7/ 0.75 = -9.333

              = -9.34

7 0
2 years ago
Recruiting __________ is sometimes viewed as unethical.
zhuklara [117]

Answer:

b

Explanation:

4 0
2 years ago
Assume that you are the president of Highlight Construction Company. At the end of the first year (December 31, 2014) of operati
Maksim231197 [3]

Answer:

Highland construction company

Income statement

For the year ended December 31, 2014

Sales revenue=128,400

Total expense=80,200

Pretax income=48,200

Tax                  =14,460

Net income     =33,740

Highland construction company

Statement of stockholder's equity

For the year ended December 31,2014

Balance December 31,2013=0

Stock issuance                    =87,000

Add:Net income

Less:Dividends

Balance December 31,2014=87,000

Highland construction company

Balance sheet

December 31,2014

Account payable=46,140

Salaries payable=2,520

Total liabilities

Common stock=87,000

Retained earnings=23,740

As complete information is not given so only relevant portion is done.

4 0
2 years ago
Other questions:
  • For a honda accord, some factors shift demand left and others shift it right, as shown. classify each factor by how it shifts th
    14·1 answer
  • In 2001, susan scholz was fired from her sales clerk's job at the walgreens store in north mall after refusing to work on sunday
    5·1 answer
  • Sally owns a very expensive fur coat that Mary would like to buy. During the course of conversation, Mary asks how much Sally wo
    9·1 answer
  • Evaluate the current China/Taiwan logistics costs. Assume a current total volume of 190,000 CBM and that 89 percent is shipped d
    15·1 answer
  • If labor demand is downward sloping and labor supply is upward sloping, then when labor demand rises faster than labor supply, i
    11·1 answer
  • What are the major forces that affected the Japanese yen over the years? What factors do you think are important to monitor as y
    8·1 answer
  • Winter Company incurred direct materials costs of $500,000 during the year. Manufacturing overhead applied was $150,000 and is a
    5·1 answer
  • Bracken, Louden, and Menser, who share profits and losses in a ratio of 4:2:2, respectively are partners in a home decorating bu
    12·1 answer
  • An appliance company has two warehouses and two retail outlets. Warehouse A has 400 refrigerators and warehouse B has 300 refrig
    9·1 answer
  • Newell Company completed the following transactions in October:
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!