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storchak [24]
2 years ago
11

Chuck Olson, age 16, buys a used car from Bobby Duncan Used Cars Center on September 15, 2006. Olson agrees to pay $200 a month

for 12 months. A month after the purchase, Olson is involved in an accident that wrecks the car. He immediately calls Duncan Cars and informs them that he is disaffirming the contract. According to traditional common laws, which of the following is most likely to be true?
a. Olson does not have a duty to place Duncan in status quo ante
b. Olson can ask Duncan to pay for the damages as he hasn't made the full payment for the car.
c. Olson has to pay for the damages and then return the car to Duncan.
d. Olson can successfully press charges and force Duncan to take care of the damages caused to the car.
Business
1 answer:
lukranit [14]2 years ago
8 0

Answer:

Olson can successfully press charges and force Duncan to take care of the damages caused to the car ( D )

Explanation:

Chuck Olson age 16 ( a minor ) can successfully press charges and request/force Bobby Duncan used cars center to take care of the damages caused to the car. this is because according to traditional common laws a contract entered by a minor is considered null and void hence Olson can successfully disaffirm the contract and Bobby Duncan would have to accept the damages and take care of them.

A minor is not required by traditional common law to entered into any form of obligatory contract.

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Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month
Scrat [10]

Answer:

See explanations below

Explanation:

1. Overall contribution margin ratio of the company

= (Total contribution margin / Total sales ) × 100

= ( $113,400 / $162,000 ) × 100

= 70%

2 Company's overall break even point in dollar sales.

= Fixed expenses / Contribution margin ratio

= $82,530 / 70%

= $117,900

3. Contribution format income statement

Claim jumper

Sales $108,000/$162,000 = $0.67 × 100

= 67% × $117,900

= $78,993

Makeover

Sales $54,000/$162,000 = $0.33 × 100

= 33% × $117,900

= $38,907

Claim jumper

Variable expenses

= ($68,120 / $108,000) × $39,880

= $25,154

Makeover

Variable expenses

= ($45,280 / $54,000) × $8,720

= $7,312

• Variable expenses at the point of break even sales = (Break even sales / Original sales ) × Variable expense

7 0
2 years ago
In three to four sentences, discuss how the structure of "career planning for high schoolers” is effective in supporting a reade
Snezhnost [94]

Sample Response: The text uses graphs, charts, tables, headings, and subheadings to help the reader find and understand important information. The headings organize the text in a logical way and help the reader identify main ideas. The tables and graphs provide specific data that both support and supplement the information in the text. These features are effective aids to understanding.

3 0
2 years ago
Read 2 more answers
Huai takes out a $3,600 student loan at 6.6% to help him with 2 years of community college. After finishing the 2 years, he tran
Alja [10]

Answer:

a. The monthly payment on loan 1 is $76.03.

b. The monthly payment on loan 2 is $411.69.

Explanation:

a. Calculate the monthly payment on loan 1.

To determine the amount of periodic payments, the present value of annuity formula should be used:

PV=P(\frac{1-(1+r)^{-n} }{r} )

Where:

PV= present value

p=periodic payment

i=rate of interest

n=number of periods

We get the data for this exercise:

PV= 3,600 (loan).

p= unknown (we must find this value)

i= 6.6% or 0.066. However, because we need to know the monthly payment, the interest rate should be divided by 12 (0.066 / 12).

n= 4 years and 7 months, that is 55 months.

And we replace in the formula:

3600=P(\frac{1-(1+\frac{0.066}{12})^{-55} }{\frac{0.066}{12} } )

3600=P(\frac{1-(1+0.055)^{-55} }{0.0055} )

3600=P(\frac{1-(0.7395812268)}{0.0055} )

3600=P(\frac{0.2604187732}{0.0055} )

3600=P(47.348867)

Therefore:

P=\frac{3600}{47.348867}

P=76.03

The monthly payment on loan 1 is $76.03.

b. Calculate the monthly payment on loan 2.

We get the data for this exercise:

PV= 11,600 (loan 2).

p= unknown (we must find this value)

i= 7.3% or 0.073. However, because we need to know the monthly payment, the interest rate should be divided by 12 (0.073 / 12).

n= 2 years and 7 months, that is 31 months.

And we replace in the formula:

11600=P(\frac{1-(1+\frac{0.073}{12})^{-31} }{\frac{0.073}{12} } )

11600=P(\frac{1-(1+0.006083)^{-31} }{0.006083} )

11600=P(\frac{1-(0.8286047296)}{0.006083} )

11600=P(\frac{0.1713952704}{0.006083} )

11600=P(28.1761088936)

Therefore:

P=\frac{11600}{28.1761088936}

P=411.69

The monthly payment on loan 2 is $411.69.

8 0
2 years ago
Ellen enjoys working at Starbucks because of her interactions with customers and co-workers. The satisfaction that Ellen feels w
mojhsa [17]

Answer:

B) nonfinancial compensation

Explanation:

Non-financial compensation doesn't have any monetary value; instead, it involves the satisfaction that an employee receives from his work environment. This satisfaction can be emotional and psychological.

8 0
2 years ago
National Business Machines manufactures two models of fax machines: A and B. Each model A costs $100 to make, and each model B c
Ulleksa [173]

Answer:

4500 units of A and 7,000 units of B

Explanation:

The linear programming equations can be formed as:

The objective function = 30a + 40b

a + b = 2500.........................equation 1

100a + 150b = 600,000......equation 2

multiply equation 1 by 100 we have

100a + 100b = 250000..........equation 3

Subtract equation 3 from 2

100a + 150b = 600,000......equation 2

<u>100a + 100b = 250,000.</u>.........equation 3

              50b = 350,000

Therefore b = 350,000 / 50 = <u>7,000</u>

substitute 7000 for b in equation 1

a + 7000 = 2500

a = 2,500 - 7000 = <u>4500</u> (ignoring the minus sign)

Therefore the company should produce 4500 units of A and 7,000 units of B

6 0
2 years ago
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