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2 years ago

Should gambling casinos advance credit to gamblers

1 answer:

4 0

If the gambler does not pay the marker when he has finished gambling, the marker is outstanding and the casino may later submit the marker, like a check, to the gambler's bank for payment.

So no

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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

The Tolar Corporation has 400 obsolete desk calculators that are carried in inventory at a total cost of $26,800. If these calcu

solong [7]

Answer:

b. $8,800

Explanation:

Alternative 1

Cost of calculators with upgrade = $26,800 + $10,000 = $36,800

Selling Price of Calculators after upgrade =$30,000

Loss on selling after upgrade = $36,800-$30,000 =$6,800 loss

Alternative 2

Selling price of calculators without upgrade = $11,200

Loss on selling without upgrade = $26,800 - $11,200 = $15,600

Therefor, it is advisable to upgrade the calculators because Tolar Corporation would incur loss of only $6,800 after the upgrade. If it does not upgrade, it will incur a loss of $15,600.

If Tolar Corporation went for the upgrade, it will have a financial advantage of $8,800 ($15,600-$6,800)

4 0

2 years ago

You get a 15% discount if you buy a new range listing at $924.95 and a new freezer listing at $12,695.95 on the same bill. What

Lynna [10]

Answer:

$ 2,043.14

Explanation:

The shelf price for the two items are $924.95 and $12, 695.95

The total price for both will be

=924.95 + 12, 695.95

=$13, 620.9

A 15% discount on both equals to 15/100 x 13,620.9

=0.15 x 13,620.9

=2,043.135

=$ 2,043.14

5 0

2 years ago

Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations:

Scilla [17]

Answer:

Unit cost 82

Explanation:

Vaiable cost per unit:

materials 49

Labor 28

Variable OH 5

Unit cost 82

The variable selling and administrative expense will be listed in the income statemnt as part of the variables cost to determinate the contribution, but it is not part of the production cost, it doesn't activate through inventory.

7 0

2 years ago

Optimization using total value calculates ________.

Jlenok [28]

Answer:

Explanation:

Optimization using total value calculates the total value of each feasible option and then picks the option with the highest total value.

Optimization using marginal analysis calculates the change in total value when a person switches from one feasible option to another, and the uses these marginal comparisons to choose the option with the highest total value.

Both gives identical answers.

Optimization can be implemented using many different techniques.

One of it, is Total value total benefit - total cost (net benefit).

It translate all cost and benefits into common units, like dollar per month.

Calculate the total net benefit of each alternative.

Pick the alternative with the highest net benefit.

7 0

2 years ago