Business High School

## Answers

**Answer 1**

St. Elizabeth desires a 3% **increase** to net revenue from Cigna, which is a PPO payer. The Cigna contract is due for renegotiation in July 2022 and has an annual revenue **responsibility** of 8,000,000.

If all else remains constant, then how much revenue will Cigna provide the system annually if it achieves its 3% increase goal?

Solution:

Given that,

The Cigna contract has a revenue responsibility of 8,000,000 per year

St. Elizabeth desires a 3% increase to net revenue The new expected annual revenue from Cigna after **renegotiation** is calculated by adding 3% to the current revenue of Cigna.

Then it is **calculated** as shown below;

New annual revenue from Cigna = 8,000,000 + (3/100)*$8,000,000

New **annual** revenue from Cigna = 8,000,000 + 240,000

New annual revenue from Cigna = 8,240,000

If Cigna achieves the desired 3% increase goal, then it will provide 8,240,000 to the **system** annually.

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## Related Questions

quantitative problem: bellinger industries is considering two projects for inclusion in its capital budget, and you have been asked to do the analysis. both projects' after-tax cash flows are shown on the time line below. depreciation, salvage values, net operating working capital requirements, and tax effects are all included in these cash flows. both projects have 4-year lives, and they have risk characteristics similar to the firm's average project. bellinger's wacc is 10%. 01234 project a-1,000700365240290 project b-1,000300300390740 what is project a's payback? do not round intermediate calculations. round your answer to four decimal places.

### Answers

Project A's **payback **period is approximately 3.2708 years.

To calculate the **payback **period for Project A, we need to determine the time it takes for the cumulative cash flows to equal or exceed the initial investment.The cash flows for Project A are as follows: -1,000, 700, 365, 240, 290.We will calculate the cumulative cash flows for each year:Year 0: -1,000Year 1: -1,000 + 700 = -300Year 2: -1,000 + 700 + 365 = 65Year 3: -1,000 + 700 + 365 + 240 = 305Year 4: -1,000 + 700 + 365 + 240 + 290 = 595The payback period is the time it takes for the **cumulative cash **flows to reach or exceed zero. In this case, it occurs in Year 3.To calculate the payback period, we can use the formula:Payback Period = Years before full recovery + (Remaining cash flow / Cash flow in the year after full recovery)In this case, the payback **period **is 3 + (305 / 240) = 3.2708 years (rounded to four decimal places).

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XYZ Corporation will pay a $1.5 per share dividend next year. The company pledges to increase its dividend by 2 percent per year, indefinitely. a. If you require a return of 12 percent on your investment, how much will you pay for the company's stock today? b. How much will the stock be priced at the end of the third year?

### Answers

To find the **current stock **price of the XYZ Corporation, we will use the dividend **discount **model. DDM = D/(r - g)

Where,

D = the expected dividend = $1.5 per share

r = required rate of return = 12%

g = expected growth rate = 2% per year,

indefinitely

Let P0 be the current **stock **price per share, therefore, substituting the given values in the DDM, we get;

P0 = D / (r - g)

= $1.5 / (0.12 - 0.02)

= $15.00

Therefore, the current stock price per share of XYZ Corporation is $15.00.

To calculate the stock price at the end of the third year, we will use the following formula;

Pn = Dn+1 / (r - g)

where,

Dn+1 = expected dividend at the end of the third year

Pn = stock price at the end of the third year

r = required rate of return = 12%

g = expected growth rate = 2% per year,

**indefinitely**

Dn+1 = Dn (1 + g)

= $1.5 (1 + 0.02)³

= $1.5 (1.06)³

= $1.70

Substituting these values in the above **equation**, we get;

Pn = Dn+1 / (r - g)

= $1.70 / (0.12 - 0.02)

= $17.00

Therefore, the stock price of XYZ **Corporation **will be $17.00 at the end of the third year.

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Issue that prevents mango production from contributing to Bangladesh's economy. Discuss on this given point

*Mango syndicate

*lack of proper research on mango

*lack of cultivation land

*proper training for production

*transportation problem

*cost of production

*proper way of storing mango

*formalin on mango thats why people are avoiding

### Answers

Mango is a popular fruit that grows in the tropical and subtropical regions of Bangladesh. It is one of the major fruits in Bangladesh that contributes to the country's **economy**.

Unfortunately, there are several issues that prevent mango production from contributing to the country's economy.

What does this include?

These issues include the following:

1. Mango syndicate

The mango syndicate is one of the major issues that prevent mango production from contributing to Bangladesh's economy. The **syndicate **controls the market and the price of mangoes, making it difficult for small-scale farmers to sell their produce at a fair price.

2. Lack of proper research on mango

Another issue that prevents mango production from contributing to the country's economy is the lack of proper research on mango. There is a need for research on how to produce mangoes of high quality and quantity to compete with other mango-producing countries.

3. Lack of cultivation land

The lack of cultivation land is another issue that prevents mango **production **from contributing to Bangladesh's economy. Due to the increasing population, the cultivable land is decreasing, and it's becoming difficult to find suitable land for mango cultivation.

4. Proper training for production

Proper training for production is essential for mango farmers to produce high-quality mangoes. Unfortunately, there is a lack of training facilities for farmers, which makes it difficult for them to improve their production methods.

5. Transportation problem

The transportation problem is another issue that prevents mango production from contributing to Bangladesh's economy. Due to the poor transportation system, it's difficult to transport mangoes from the production areas to the markets.

6. Cost of production

The cost of production is another issue that prevents mango production from contributing to Bangladesh's economy. Due to the high cost of fertilizers, pesticides, and other inputs, many farmers cannot afford to produce mangoes at a profitable rate.

7. Proper way of storing mango

Proper storage facilities are essential for mango farmers to preserve their mangoes and sell them at a later time when the price is favorable. Unfortunately, there is a lack of proper storage facilities in Bangladesh.

8. Formalin on mango that's why people are avoiding

Formalin is a harmful chemical that is used to preserve mangoes.

Many people are avoiding mangoes because of the presence of **formalin**. This has resulted in a decrease in the demand for mangoes, which has affected the income of mango farmers.

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A bank offers a home buyer a 25 -year loan at 9% per year. If the home buyer borrows $110,000 from the bank, how much must be repaid every year? A. $11,198.69 B. $15,678.17 C. $17,917.90 D. $13,438.43

### Answers

Option (a), The correct answer is $11,198.69 annually. Given that** the bank **offers a home buyer a 25-year loan at 9% per year. Also, the home buyer borrows $110,000 from the bank.

How much must be repaid every year?

We can use the formula of **the annuity for a loan **or mortgage to solve this question.

The formula is:PMT = PV * r(1 + r)^n / [(1 + r)^n - 1], wherePMT = Payment,PV = Present Value or the amount borrowed,r = the interest rate per period,n = the number of periods.

For this question, the PMT represents the amount that must be paid every year.

The annual interest rate is 9%, and hence **the monthly interest rate** is 9% / 12 = 0.75%.

The total number of payments is 25 * 12 = 300

The principal amount is $110,000.

The PMT can be calculated as shown below.

PMT = 110000 * 0.0075 * (1 + 0.0075)^300 / [(1 + 0.0075)^300 - 1]= $11,198.69

Therefore, the main answer is A. $11,198.69.

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Xion Supply uses a sales journal, a purchases journal, a cash reciepts journal, a cash disbursem*nts journal and a general journal. the following transactions occurred during thr month of march 2020:

Mar. 3 Punchased merchandise for $5,500 on credit from Pace Inc., terms 2/10, n /30. 9. Issued cheque $210 to Narlin Corp. to buy store supplies for $900. 12. Sold merchandise on credit to K. Camp for $1,348, terms n/30. Cost, $609.

17. Issued cheque $211 for $3,000 to repay a note payable to City Bank. 20 Purchased merchandise for $7,000 on credit froe Lebaron, terms 2/19,n/30. 29 Ts5ued cheque #212 to Lebaron to pay the amount due for the purchase of March 20 , less the discount. 31 Paid salary of 53,400 to E. brandon by issuing cheque a213. 31 Issued cheque. M214 to Pace Inc., to pay the amount due for the purchase of March 3.

Journalize the March transactions that should be recorded in the cash disbursem*nts journal assuming the perlstual inventory system.

### Answers

**The transactions recorded in the cash disbursem*nts journal for Xion Supply in March are: March 9 - Cheque #210 to Narlin Corp. for store supplies, March 17 - Cheque #211 to repay note payable to City Bank, March 29 - **

** In the cash disbursem*nts journal, the transactions recorded are the cash payments made by Xion Supply. Based on the given transactions, on March 9, a cheque is issued to Narlin Corp. for store supplies. On March 17, a cheque is issued to repay a note payable to City Bank. On March 29, a cheque is issued to Lebaron to pay for the purchase made on March 20. On March 31, a cheque is issued to pay salary to E. Brandon and another cheque is issued to Pace Inc. for the purchase made on March 3. These transactions would be recorded in the cash disbursem*nts journal under their respective dates and details.**

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An investor acquired a property worth R$ 670,000.00 under the following conditions: down payment of 10.00% and the remainder financed in 180 equal monthly installments, with effective interest of 7.00% per year. Immediately after the payment of all the installments, that is, immediately after the payment of the last installment, he sold this property for R$ 3,500,000.00 in cash. Calculate the percentage profit or loss that occurred on this sale, that is, the percentage profit or loss that the investor had at the time of sale of the property, in relation to the investments he could have made, at his minimum attractive rate of 0.95% per month.

### Answers

Profit Percentage = (R$2,977,801.51 / R$522,198.49) x 100 = 570.06%So the investor had a **profit percentage** of 570.06% at the time of sale of the property.

The first step to calculating the profit or loss **percentage** for this situation would be to find out the total cost of the property. To do this, you can use the following formula:

Total Cost = Down payment + Total amount paid in 180 monthly **installments**

The down payment is 10% of R$670,000.00, which is R$67,000.00.

To find the total amount paid in installments, you can use the formula for the present value of an annuity:

PV = PMT * [1 - (1 + r/n)^(-nt)] / (r/n), where **PMT** is the monthly payment, r is the annual interest rate, n is the number of times interest is compounded in a year, and t is the number of years.

In this case, PMT is the total amount **borrowed** divided by the number of months, which is (R$670,000.00 - R$67,000.00) / 180 = R$3,294.44.

Plugging in the values, we get:

PV = R$3,294.44 * [1 - (1 + 0.07/12)^(-180)] / (0.07/12) = R$455,198.49

So the total cost of the property is R$67,000.00 + R$455,198.49 = R$522,198.49.

To find the profit or loss percentage, we need to compare this total cost to the selling price of R$3,500,000.00.

The profit is the difference between the selling price and the total cost, which is R$3,500,000.00 - R$522,198.49 = R$2,977,801.51.

The percentage profit can be found using the formula:

**Profit** Percentage = (Profit / Cost) x 100Substituting the values, we get:

Profit Percentage = (R$2,977,801.51 / R$522,198.49) x 100 = 570.06%So the investor had a profit percentage of 570.06% at the time of sale of the property.

This is much higher than his minimum attractive rate of 0.95% per month.

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QUESTION TWO The directors of Greenwood Industries have appointed you as their financial consultant. They are seeking new investment opportunities and require you to calculate their weighted average cost of capital of the company. The following information relates to the present capital structure of the company: • 2 million, ordinary shares, currently trading at R5.50 per share. The latest dividend paid is 80 cents per share and the growth for the past four years was 7% per annum. • 1 million, 9%, R3.00 preference shares, with a market price of R2.00 each. • R600 000, 14%, bank loan, due in December 2021. Additional information: • The company is in the 30% tax bracket. • The company has a beta of 1.4, a risk free rate of 6% and a return on the market of 18%. Required: 2.1 Calculate the weighted average cost of capital. Use the Gordon Growth Model to calculate the cost of equity. (21) 2.2 Calculate the weighted cost of equity, using the Capital Asset Pricing Model.

### Answers

The** weighted** **average cost** of capital (WACC) of the company is 11.70% when calculated using the Gordon Growth Model and 14.25% when calculated using the Capital Asset Pricing Model.

Weighted** **Average Cost of Capital (WACC) is the average cost of capital of a company, considering both debt and equity financing sources. The following information is given: • 2 million ordinary shares are present. Each share's market price is R5.50, and the most recent dividend paid is 80 cents/share. The growth for the previous four years was 7% per year.

• 1 million preference shares, R3.00 per share, 9%, with a **market price** of R2.00 per share.

• R600 000, 14%, bank loan, which is due in December 2021. Additional Information:

• The company is in the 30% **tax** bracket. It has a beta of 1.4, a risk-free rate of 6%, and a market return of 18%.2.1 Calculation of WACC: The cost of debt for the bank loan is: Wd = D/V = 600,000/3,600,000 = 0.1667 or 16.67%.

Tax Adjusted Cost of Debt: Kd = Wd (1 – T) = 0.1667 (1 – 0.3) = 0.1167 or 11.67%.

The cost of** equity** can be determined by using the Gordon Growth Model: Ke = (D1/P0) + gKe = (0.80 * 1.07)/5.50 + 0.07Ke = 0.1782 or 17.82%.

WACC can be calculated as follows: WACC = (We * Ke) + (Wd * Kd)

We = E/V = 2,000,000/3,600,000 = 0.5556 or 55.56%.

Wd = D/V = 600,000/3,600,000 = 0.1667 or 16.67%.

WACC = (0.5556 * 17.82%) + (0.1667 * 11.67%)

WACC = 11.70%.2.2 Calculation of WACC using Capital Asset Pricing Model (CAPM): **Risk-free rate** (Rf) = 6%Market return (Rm) = 18%

Beta (β) = 1.4Ke = Rf + β(Rm - Rf) Ke = 6% + 1.4(18% - 6%) Ke = 23.2%We = E/V = 2,000,000/3,600,000 = 0.5556 or 55.56%.

Wd = D/V = 600,000/3,600,000 = 0.1667 or 16.67%.

WACC = (We * Ke) + (Wd * Kd) WACC = (0.5556 * 23.2%) + (0.1667 * 11.67%) WACC = 14.25%.

Therefore, the weighted average cost of capital (WACC) of the company is 11.70% when calculated using the Gordon Growth Model and 14.25% when calculated using the Capital Asset Pricing Model.

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Zero Motorcycles has its engine assembly plant in California and its motorcycle assembly plant in South Carolina. Engines are transported between the two plants using trucks, with each trip costing $2,200. The motorcycle plant assembles and sells 250 motorcycles each day. Each engine costs $775, and Zero incurs a holding cost of 15 percent per year.

What is the Annual Demand (D)?

What is the Cost per Unit (C)?

What is the Fixed Cost Incurred per Order (S)

What is the Ordering Cost?

What is the Annual Holding Cost (hC)?

What is the Total Inventory Cost?

What is the Cycle Inventory of engines at Harley?

What is the Average Flow Time?

What is the Average Flow Time resulting from the Cycle Inventory?

To earn credit, you must show your work.

### Answers

To answer the questions regarding Zero Motorcycles' **operations**, let's break down the information provided step by step:Annual Demand (D):

The annual demand refers to the total **number **of motorcycles sold in a year. In this case, the motorcycle plant assembles and sells 250 motorcycles each day. To calculate the annual demand, we need to multiply the daily production by the number of working days in a year. **Assuming **there are 365 working days in a year, the annual demand (D) would be:D = 250 motorcycles/day * 365 days/year

Cost per Unit (C):The cost per unit is the cost **incurred **by Zero Motorcycles for each motorcycle it produces. In this case, each motorcycle requires an engine, and the cost of an engine is given as $775. Therefore, the cost per unit (C) would be $775.The fixed cost incurred per order is the cost **associated **with placing an order for engines. Each trip to transport the engines between the two plants costs $2,200. Since this cost is incurred for each order, it can be considered as the fixed cost per order (S).

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What is the coupon rate of a eight-year, $10,000 bond with semiannual coupons and a price of $8,715.92, if it has a yield to maturity of 8% ? A. 6.955% B. 8.114% C. 4.637% D. 5.796%

### Answers

Option (a),** The coupon rate **of a eight-year, $10,000 bond with semiannual coupons and a price of $8,715.92, if it has a yield to maturity of 8% is 6.955%.

The price of a bond is the sum of** the present value** of each coupon payment plus the present value of the face value. A bond's yield to maturity is the rate that makes the present value of the future cash flows from the bond equal to its price. To calculate the coupon rate, we need to know the annual coupon payment and the face value of the bond and then divide the **annual coupon paymen**t by the face value of the bond.

The formula for calculating the price of a bond is:P = C / (1 + r)1 + C / (1 + r)2 + ... + C / (1 + r)n + F / (1 + r)n

where:

P = price of the bond

C = semiannual coupon payment

r = yield to maturity (annual)

n = number of periods (years x 2 for semiannual payments)

F = face value of the bond

Using the information given in the question:

P = $8,715.92

C = ($10,000 x 8%) / 2 = $400

r = 8% / 2 = 4%

n = 8 x 2 = 16

F = $10,000

The equation would look like this:

$8,715.92 = $400 / (1 + 4%)1 + $400 / (1 + 4%)2 + ... + $400 / (1 + 4%)16 + $10,000 / (1 + 4%)16

To solve this equation, we can use a financial calculator or a spreadsheet. By doing this, we find that **the yield to maturity (YTM)** of the bond is approximately 6.955%. Therefore, the answer is A. 6.955%.

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Please pick a business to analyze the following:

Decision-making processes;

Performance;

Goal Setting; and

Motivation

As part of your analysis, please be sure to include examples from class, personal experiences as well as any other additional material you would like to include.

### Answers

Decision-making, performance evaluation, goal setting, and **motivation** are vital in a software company to drive success and employee satisfaction.

For the purpose of this analysis, let's consider a software development company.

1. Decision-making processes:

In a software development company, decision-making processes are crucial for various aspects, such as project planning, resource allocation, and technology adoption. Decisions can be made through a hierarchical structure, where top **management** makes strategic decisions, or through a collaborative approach involving cross-functional teams.

Example: In my personal experience working at a software development company, we had a decision-making process that involved regular meetings where representatives from different teams would gather to discuss and make decisions on project priorities, resource allocation, and feature implementation. This collaborative approach ensured that decisions were well-informed, considering multiple perspectives, and aligned with the overall goals of the company.

2. Performance:

Performance evaluation is important in a software development company to assess the effectiveness and efficiency of individuals and teams. Key performance indicators (**KPIs**) can be used to measure productivity, quality of code, meeting project deadlines, and customer satisfaction.

Example: In my class, we studied a software development company that used agile methodologies. They evaluated performance based on metrics such as user stories completed within a sprint, code quality, and customer feedback. Regular sprint reviews and retrospective meetings allowed teams to reflect on their performance, identify areas for improvement, and celebrate successes.

3. Goal Setting:

Goal setting is crucial for a software development company to ensure alignment and focus. Setting clear and achievable goals helps in prioritizing tasks, tracking progress, and motivating employees.

Example: In a software development company I worked for, we set specific goals for each project and sprint. These goals were **SMART** (Specific, Measurable, Achievable, Relevant, Time-bound) and were communicated to all team members. The goals served as a roadmap for the team, providing direction and clarity on what needed to be achieved within a given timeframe.

4. Motivation:

**Motivation** plays a vital role in driving performance and employee satisfaction in a software development company. It can be fostered through various means, such as recognition, rewards, career development opportunities, and a positive work culture.

Example: In a study we analyzed, a software company implemented a rewards and recognition program where employees were acknowledged for their contributions, both individually and as part of a team. This program boosted motivation, increased job satisfaction, and improved overall performance. Additionally, the company provided opportunities for skill enhancement and career growth, which further motivated employees to perform at their best.

Overall, decision-making processes, performance evaluation, goal setting, and motivation are critical elements for a software development company. Effective implementation of these aspects can lead to improved productivity, employee satisfaction, and successful project outcomes.

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parts f and g

f. Find the PV of an ordinary annuity that pays $ 1,000 each of the next 5 years if the interest rate is 14 % . Then find the FV of that same annuity. Round your answers to the nearest ce

### Answers

PV (Present Value) of an ordinary **annuity** that pays $1,000 each of the next 5 years if the **interest** rate is 14 % is $3,580. Then find the FV (Future Value) of that same annuity.

Round your answers to the nearest cent. Part f: The formula to **determine** the PV of an annuity is given as:

PV = Payment x [1 - (1 + r/n) ^-nt] / (r/n)

Where, Payment = $1,000r = 14% per yearn = 1,

as it is yearly compounded.t = 5 years **Plugging** in the values, we get:

PV = 1000 × [1 - (1 + 0.14/1) ^-5×1] / (0.14/1)PV = 1000 × [1 - 0.37689]

0.14PV = 1000 × 0.6231 / 0.14PV = $4,441.29

Thus, the PV of an ordinary annuity that pays $1,000 each of the next 5 years if the interest rate is 14 % is $4,441.29.

Part g: The formula to determine the FV of an annuity is given as:

FV = Payment x [(1 + r/n) ^nt - 1] / (r/n)

Where, Payment =$1,000r = 14% per yearn = 1

as it is yearly compounded.t = 5 years Plugging in the values, we get:

FV = 1000 × [(1 + 0.14/1) ^5×1 - 1] / (0.14/1)FV = 1000 × [1.9701 - 1] / 0.

14FV = 1000 × 0.9701 / 0.14FV = $6,979.29

Thus, the FV of that same annuity is $6,979.29 when the interest rate is 14%.

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what system is most likely to be trusted to provide logon authentication for the access control to your linux system?

### Answers

The system that is most likely to be trusted to provide **logon authentication** for the access control to your Linux system is Pluggable Authentication Modules (PAM).The **Pluggable Authentication Modules **(PAM) system is a suite of libraries that are used to authenticate user login credentials on Linux systems.

PAM provides a powerful, flexible, and secure method for authenticating user logins to a Linux system. PAM's framework allows for the use of various authentication mechanisms such as **two-factor authentication, **fingerprint scanning, and smart card technology to authenticate user login credentials.The use of PAM has a number of benefits. It can enforce** password policies,** allow for the use of multiple authentication mechanisms, and it is widely supported across different Linux distributions. PAM is considered one of the most reliable and trusted systems for authenticating user logins on Linux systems.

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Which of the following statements regarding the statement of cash flows are correct? The financial statement that is typically prepared first It is an optional financial statement Reports cash disbursem*nts The final financial statement that is typically prepared Reports cash receipts

### Answers

The statement of cash flows is a required **financial statement** that provides information about the cash inflows and **outflows** of a company during a specific period.

Among the statements provided, the following two statements regarding the statement of **cash flows** are correct:

It is an optional** **financial statement**.**

The statement of cash flows is a required financial statement that provides information about the cash inflows and outflows of a company during a specific period. It presents the sources and uses of cash and helps assess a company's **liquidity** and cash flow management. Unlike some other financial statements, such as the income statement and balance sheet, the statement of cash flows is mandatory for financial reporting purposes.

The final financial statement that is typically prepared.

The statement of cash flows is usually prepared as one of the final financial statements in the financial reporting cycle. After the income statement and balance sheet are prepared, the statement of cash flows is generated to complete the set of financial statements. It summarizes the cash flows from operating activities, investing activities, and financing activities, providing a **comprehensive** view of a company's cash position and how cash is generated and utilized.

The remaining statements, namely "The financial statement that is typically prepared first" and "Reports cash **disbursem*nts**," are not correct. The statement of cash flows is not typically prepared first in the financial reporting cycle, and it reports both cash receipts and cash disbursem*nts

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How long do you need to invest your money in an account earning an annual interest rate of 3.192% compounded weekly so that your investment grows from $1,475.27 to $10,656.00 over that period of time?weeks

### Answers

You need to **invest **your money in an account earning an annual interest rate of 3.192% compounded weekly for 62 weeks so that your investment grows from $1,475.27 to $10,656.00.

Here is the calculation:

**Initial investment** = $1,475.27

Final investment = $10,656.00

Annual **interest rate** = 3.192%

Number of compounding periods per year = 52

Time = (ln(Final investment / Initial investment)) / (ln(1 + (Annual interest rate / Number of compounding **periods per year**)))

Time = (ln(10656 / 1475.27)) / (ln(1 + (3.192 / 52)))

**Time** = 62 weeks

Therefore, you need to invest your money for 62 weeks in order to reach your desired goal.

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List at least 2 benefits of using hybrid methods and data in

marketing research.

### Answers

**Hybrid **methods and data are commonly used in marketing research, providing multiple benefits. Two of the benefits of using hybrid methods and data in marketing research are listed below:Improving data accuracy:Hybrid methods are used to improve the **accuracy **of data in marketing research. In marketing research, data accuracy is important for providing reliable insights.

In this regard, hybrid **methods **can be useful for combining data from various sources, such as surveys and focus groups, to enhance the accuracy of the data collected. This is because different methods can produce different types of data. By combining data from different **methods**, researchers can get a better understanding of the market and make better decisions.

This helps in minimizing errors in the data **collected**, leading to more reliable findings and recommendations.Enhancing data quality:Another benefit of using hybrid methods and data in marketing **research **is enhancing the quality of data collected. Hybrid methods can help in increasing the quality of data collected by researchers.

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milo company manufactures beach umbrellas. the company is preparing detailed budgets for the third quarter and has assembled the following information to assist in the budget preparation: the marketing department has estimated sales as follows for the remainder of the year (in units): july31,000october21,000 august72,000november7,500 september41,000december8,000 the selling price of the beach umbrellas is $11 per unit

### Answers

The estimated **sales **revenue for each month in the third quarter is as follows: July: $341,000, August: $792,000, and September: $451,000.

Based on the information provided, **Milo Company's** marketing department has estimated the sales of beach umbrellas for the remainder of the year. The sales projections in units are as follows: July: 31,000 units, August: 72,000 units, September: 41,000 units, October: 21,000 units, November: 7,500 units, and December: 8,000 units.To calculate the sales revenue, we need to multiply the sales volume by the selling price per unit. The **selling **price of the beach umbrellas is given as $11 per unit.Therefore, the sales revenue for each month can be calculated as follows: July: 31,000 units x $11 = $341,000, August: 72,000 units x $11 = $792,000, September: 41,000 units x $11 = $451,000, October: 21,000 units x $11 = $231,000, November: 7,500 units x $11 = $82,500, December: 8,000 units x $11 = $88,000.These sales revenue figures will be used in the **budget preparation** for the third quarter of the year.

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Assume a required reserve ratio of 0.05 to complete the following.

AssetsLiabilities and Net Worth

Reserves $100 millionDeposits $400 million

Bonds $120 millionLoans $200 millionBank Capital $20 million

a. Calculate the initial required reserves for this bank and show work.

b. Calculate the initial excess reserves for this bank and show work.

c. Convert all of the excess reserves into loans and construct the new balance sheet.

### Answers

Required reserve ratio: Required **reserve **ratio is the percentage of bank deposits that must be kept in reserve by the bank. It is **calculated **as follows: Required reserve ratio = required reserves / deposits.

Initial required reserves for the bank is calculated as follows: Given, Reserves = $100 million

Required reserve ratio = 0.05Deposits = $400 million

Required reserves = Required reserve ratio * Deposits= 0.05 * $400 million= $20 million

Therefore, the initial required reserves for this bank are $20 million.

b. Excess reserves are calculated by subtracting the **required **reserves from the actual reserves of the bank. The initial excess reserves for the bank is calculated as follows:Excess reserves = Reserves - Required reserves= $100 million - $20 million= $80 million

Therefore, the amount of **loans **has increased by $80 million, which is the same as the amount of excess reserves that was converted into loans. The reserves have reduced by $80 million because the bank no longer has excess reserves after converting them into loans. The **deposits** have not changed, and the bank capital has also **remained **the same. Therefore, the new balance sheet of the bank would have reserves of $20 million, deposits of $400 million, loans of $280 million, and bank capital of $20 million.

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there are several ways that central banks can increase or decrease the money supply. match the descriptions below with the corresponding policy tool. it is possible that a description does not apply to any of the terms.

### Answers

According to the information we can infer that the options would match as follow: An increase in the **interest** **rate** that a **central** **bank** charges commercial banks for loans: Box 3, A central bank purchasing existing bonds: Box 1, An increase in the percentage of deposits that banks must keep on hand: Box 2, and A government printing more **currency**: Not applicable.

What is the relation in each situation?

1. The discount rate refers to the **interest** **rate** that a **central** **bank** charges commercial banks for loans. By increasing the discount rate, the central bank makes borrowing more expensive for commercial banks. This, in turn, discourages borrowing, reduces the availability of money in the banking system, and can decrease the money supply.

2. Open market operations involve the buying and selling of government securities, such as bonds, by the **central** **bank**. When a central bank purchases existing bonds from commercial banks or the public, it injects money into the banking system, increasing the money supply.

3. The reserve requirement is the percentage of **deposits** that banks are required to keep as reserves and not lend out. When the **central** **bank** increases the reserve requirement, it reduces the amount of money that banks can lend, effectively decreasing the money supply.

4. The act of printing more **currency** is not directly related to the policies conducted by **central** **banks** to control the money supply. While a government may print more currency, it is not a policy tool employed by central banks to increase or decrease the money supply.

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On March 1, 2020, ExCo's board of directors declared a cash dividend of $0.75 per common share to shareholders of record on March 10. payable March 31. There were 131,000 shares issued and outstanding on March 1 and no additional shares had been issued during the month. Record the entries for March 1, 10, and 31. The cash dividends account is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1 Record the declaration of cash dividend on common shares of $0.75 per share. Record the declaration of cash dividend of $0.75 per share holders on record. Record the payment of dividends declared on March 1.

### Answers

The **ExCo's board of directors** declared a cash dividend of $0.75 per common share to **shareholders **of record on March 10 and payable on March 31.

There were 131,000 shares issued and outstanding on March 1 and no **additional **shares had been issued during the month.

The following journal entries should be recorded on March 1, 10, and 31 for the cash dividend declared:

March 1, 2020On March 1, 2020, the following journal entry will be recorded:

ParticularsDebitCreditCash Dividends$98,250 ($0.75 x 131,000 shares)

Dividends Payable$98,250 [To record the declaration of a cash dividend on common shares of $0.75 per share]

March 10, 2020On March 10, 2020, the following **journal entry **will be recorded:

ParticularsDebitCreditNo journal entry required[To record the declaration of cash dividend of $0.75 per share holders on record]March 31, 2020On March 31, 2020, the following journal entry will be recorded:

ParticularsDebitCreditDividends Payable$98,250Cash **Dividends**$98,250[To record the **payment **of dividends declared on March 1]

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Pete's Propellers Company showed the following information in its Property, Plant, and Equipment Subledger regarding Machine \#5027. 'SL = Straight-line; DDB = Double-declining-balance On January 7, 2020, the machine blade cracked and it was replaced with a new one costing $11,200 purchased for cash (the old blade was scrapped). The new blade had an estimated residual value of $1,000 and an estimated life of five years and would continue to be depreciated using the straight-line method. During 2020, it was determined that the useful life on the metal housing should be increased to a total of 17 years instead of 15 years and that the residual value should be increased to $9,000. Required: 1. Prepare the entry to record the purchase of the replacement blade.

### Answers

The following would be the entry to reflect the replacement blade's purchase on January 7, 2020: Explanation: The $11,200 cost of the replacement blade is reflected in the debit to the Property, Plant, and Equipment **account**.

This sum is added to Machine #5027's value. The** cash payment **made for the new blade is reflected in the credit to the Cash account. It was paid for in cash, so $11,200 is deducted from the Cash account. Note: Depending on the company's chart of **accounts **and accounting procedures, the precise account names may change. For precise and comprehensive information, it's crucial to refer to the **company's **accounting procedures and **financial **records.

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A local bank advertises the following deal: Pay us $100 at the end of each year for 11 years and then we will pay you (or your beneficiaries) $100 at the end of each year forever.

a. Calculate the present value of your payments to the bank if the interest rate available on other deposits is 9.00%. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Present value

b. What is the present value of a $100 perpetuity deferred for 11 years if the interest rate available on other deposits is 9.00%. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Present value

c. Is this a good deal?

O No

O Yes

### Answers

a. Present ValueThe present value of **payments **to the bank would be $688.32.

PMT = $100i = 9%N = 11PV = ?Use the formula for the present value of an **annuity**.

PV = PMT * [1 - (1 + i)-N]/iPV = $100 * [1 - (1 + 9%)-11]/9% = $688.32

Therefore, the present value of payments to the bank is

$688.32.b.

Present ValueThe present value of a $100 **perpetuity** deferred for 11 years would be

$422.16.R = $100i = 9%N = 11PV = ?Use the formula for the present value of a perpetuity:

PV = R/i * (1 - 1/(1 + i)N)PV = $100/9% * [1 - 1/(1 + 9%)11] = $422.16

Therefore, the present value of a $100 perpetuity deferred for 11 years is $422.16.

c. Is this a good deal?Yes, this is a good deal. The **present **value of the payments to the bank is

$688.32, which is less than the present value of a $100 perpetuity deferred for 11 years, which is

$422.16.

This means that paying $100 per year for 11 years and **receiving **$100 per year forever is a good deal because the present value of the payments to the bank is less than the present value of a $100 perpetuity deferred for 11 years.

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Suppose the demand curve for a product is given by

*i Q = 300 - 2P + 4I, where I is average income mea-

sured in thousands of dollars. The supply curve is

a. If I = 25, find the market-clearing price and quan-

tity for the product.

b. IfI = 50, find the market-clearing price and quan-

tity for the product.

c. Draw a graph to illustrate your answers.

### Answers

a. If I = 25, find the market-clearing price and quantity for the **product**. Market equilibrium is a state of the market in which demand and supply are **balanced **and there are no external influences that can have an effect on the price or quantity of the good or service.

The equation is given asQd = 300 - 2P + 4IQs = PThe market **equilibrium **is where the quantity demanded is equal to the quantity supplied.

Therefore, Qd = Qs300 - 2P + 4

I = P300 + 4I

= 3PP = (300 + 4I)/3Now, if

I = 25, then:

P = (300 + 4I)/3

= (300 + 4(25))/3

= 108.33

Quantity Demanded = 300 - 2P + 4I = 300 - 2(108.33) + 4(25) = **233.33Therefore**, the market-clearing price and quantity for the product are $108.33 and 233.33 units, respectively

b. If I = 50, find the market-clearing price and **quantity **for the product.

P = (300 + 4I)/3 = (300 + 4(50))/3 = 150

Quantity Demanded = 300 - 2P + 4I = 300 - 2(150) + 4(50) = 200

Therefore, the market-clearing price and quantity for the product are $150 and 200 units, respectively.

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Who gave the economic interpretation?

### Answers

The economic **interpretation** of history was given by Karl Marx.

The **economic interpretation** of history is a theory that seeks to explain historical events and societal changes primarily through the lens of economic factors. One of the key proponents of this interpretation was Karl Marx, a German philosopher, economist, and sociologist. Marx's analysis of history, known as historical materialism, provides a comprehensive framework that emphasizes the role of economic structures and class struggles in shaping historical development. To understand Marx's economic interpretation, it is important to delve into the details of historical materialism and its mathematical foundation.

Karl Marx's economic interpretation of history is rooted in his theory of historical materialism, which posits that the driving force behind historical change is the development of **productive** forces and the conflicts that arise from the social relations of production. According to Marx, societies evolve through various stages, each characterized by a particular mode of production and corresponding class relations.

In Marx's framework, the key economic factors are the means of production (such as land, machinery, and factories) and the relations of production (the social relationships and power dynamics that arise from the ownership and control of the means of production). These factors form the basis of the economic structure of a society. Marx identified different modes of **production** throughout history, including primitive communism, slave society, feudalism, capitalism, and ultimately, communism.

To illustrate the economic interpretation, let's focus on Marx's analysis of capitalism. Marx argued that capitalism is characterized by the ownership of the means of production by a capitalist class (bourgeoisie) and the exploitation of labor by the working class (proletariat). The capitalist class accumulates wealth by appropriating the surplus value created by the labor of the working class. This **exploitation** and class conflict are central to Marx's economic interpretation.

Mathematically, Marx's economic interpretation can be expressed through his theory of **surplus** value and the labor theory of value. According to Marx, the value of a commodity is determined by the socially necessary labor time required for its production. The difference between the value created by the labor of workers and the wages they receive represents surplus value, which is appropriated by the capitalist class as profit.

Marx also analyzed the cyclical nature of capitalism, characterized by periodic economic crises resulting from the contradictions inherent in the capitalist mode of production. These crises, such as recessions or **depressions**, stem from overproduction, underconsumption, and the inherent drive for capitalists to maximize profits, often leading to market imbalances and economic instability.

Marx's economic interpretation provides a comprehensive framework for understanding historical development and societal change. While it has faced criticism and alternative perspectives have emerged over time, Marx's analysis continues to **influence** various fields, including economics, sociology, and political science. Understanding the economic interpretation of history can offer valuable insights into the interplay between economic factors, social structures, and historical events.

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Windsor, Inc.'s general ledger at April 30, 2017, included the following: Cash $5,900, Supplies $590, Equipment $28,320, Accounts Payable \$2,480, Notes Payable \$11,800, Unearned Service Revenue (from gift certificates) $1,180, Common $ tock $5,900, and Retained Earnings $13,450. The following events and transactions occurred during May. May 1 Paid rent for the month of May $1,180. 4 Paid $1,300 of the account payable at April 30. 7 Issued gift certificates for future services for $1,770 cash. 8 Received $1,420 cash from customers for services performed. 14 Paid $1,420 in salaries to employees. 15 Received $940 in cash from customers for services performed. 15 Customers receiving services worth $830 used gift certificates in payment. 21 Paid the remaining accounts payable from April 30. 22 Received $1,180 in cash from customers for services performed. 22 Purchased supplies of $830 on account. All of these were used during the month. 25 Received a bill for advertising for $590. This bill is due on June 13. 25 Received and paid a utilities bill for $470. 29 Received $2,010 in cash from customers for services performed. 29 Customers receiving services worth $710 used gift certificates in payment. 31 Interest of $60 was paid on the note payable. 31 Paid $1,420 in salaries to employees.

### Answers

Windsor, Inc.'s general ledger at April 30, 2017, contained the following: Cash $5,900, Supplies $590, Equipment $28,320, Accounts Payable $2,480, Notes Payable $11,800, Unearned Service **Revenue **(from gift certificates) $1,180, Common Stock $5,900, and Retained Earnings $13,450.

The subsequent events and transactions took place during the month of May. Paid $1,180 for rent for May 1. On May 4, a payment of $1,300 was made on the **account **payable. On May 7, $1,770 in cash was earned from the sale of future services by the issuance of gift certificates.

On May 8, $1,420 in cash was earned from customer services. On May 14, $1,420 in salaries was charged to workers. On May 15, $940 in cash was earned from customer services. Customers who got $830 in services paid for it using gift certificates. Paid off the balance on April 30's accounts payable on May 21.

On May 22, $1,180 in cash was earned from customer services. On May 22, $830 in supplies were purchased on credit. During the month, all of the supplies were utilized. On May 25, an advertising bill for $590 was received and will be due on June 13. Paid off a $470 utility bill on May 25.

On May 29, $2,010 in cash was earned from customer services. **Customers **who got $710 in services paid for it using gift certificates. Paid $1,420 in salaries to employees on May 31. On May 31, interest of $60 was paid on the note payable.

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SQL - IS 3351003 - 2022 Sumr 5.3s Correlated subqueries 3 These are queries that use the full Red Cat Database as shown in Figure 3.1. To do these queries you cannot use the SimplifiedSales database. You must use the full Red Cat tables of Customer, Sale, SaleItem, Product, Manufacturer, and Employee tables. For each information request below, formulate a single SQL query to produce the required information. In each case, you should display only the columns requested. Be sure that your queries do not produce duplicate records unless otherwise directed. These are queries that use the full Red Cat Database as shown in Figure 3.1. To do these queries you cannot use the SimplifiedSales database. You must use the full Red Cat tables of Customer, Sale, Saleltem, Product, Manufacturer, and Employee tables. For each information request below, formulate a single SQL query to produce the required information. In each case, you should display on the columns requested. Be sure that your queries do not produce duplicate records unless otherwise directed. List Employees (first and last names) and their salaries of employees who have a salary higher than their managers. Use a correlated subnurerv in the WHF.RF. clause. Show employee information for the most recently hired employee in each city. (Most recent is Maximum hiredate). Use a correlated suhnueve in the WHFRF clanse Senuence the data he ritv Give a list of Manufacturer names and IDs for manufacturers which only provide products valued over $30, i.e. whose cheapest product's list price is over $30. (Hint: Use a correlated subquerv in WHERE clause) Give a list of customers (IDs and Names) whose purchases during the month of January 2014 were always the same color. (Hint: Use a single correlated subauerv with ioins. and count distinct colors of vurchased products in the WHERE clause.) Give a list of customers (IDs and names) who have purchased multiple items, but all of which were the same color. Multiple items means more than one sale items. Use what you learned in a previous problem about counting colors. Use subqueries in the WHERE clause. For each manufacturer (ManufacturerID) show the maximum list price of its products. Show only those manufacturers whose products have an average list price below the average list price of products from manufacturers in their state, and put the result in order by state. Use a correlated subquery in the HAVING clause. Show ManufacturerID, State, and MaxListPrice. or each ManufacturerID and manufacturer name show the maximum list price of its products. Do this using a correlated subquery in the ELECT clause. Name the new column "MaxListPrice". For each sale with non-zero tax, list the saleID and saledate, tax, and shipping, as well as the total of the sale. This sale total includes the quantity * saleprice of all the sale items on the sale plus the tax and shipping. Do this with a correlated subquery in the SELECT clause. Show data for February 2015. Name the new column "TotalSale".

### Answers

**Query to list employees** (first and last names) and their salaries of employees who have a salary higher than their managers with the help of a correlated subquery in the WHERE clause is:

SELECT [tex]FROM Employee m[/tex][tex](SELECT m.Salary[/tex][tex]WHERE e.Salary >[/tex]WHERE [tex]m.EmployeeID = e.ManagerID)[/tex][tex]ORDER BY e.Salary DESC[/tex]

What does it entail?

The above SQL query will produce the required information for the given task. It will list employees (first and last names) and their salaries of employees who have a salary higher than their managers.

We use a correlated subquery in the WHERE clause to get the job done.

We use the **Employee **table to extract data of employees, and then we join this table with itself using a subquery to get data of managers.

We compare the salary of an employee with the **salary **of his/her manager to get the results.

We order the results in descending order of salary using ORDER BY clause.

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How much is accumulated in each of the savings plans over two years? a. Deposit €1300 today at 10 percent compounded annually. b. Deposit €600 today at 18 percent compounded monthly. a. The total amount in the savings plan at the end of two years when depositing €1300 today at 10 percent compounded annually will be ϵ (Round to the nearest hundredth as needed.) b. The total amount in the savings plan at the end of two years when depositing €600 today at 18 percent compounded monthly will be ϵ (Round to the nearest hundredth as needed.)

### Answers

**Deposit** €1300 today at 10 percent **compounded **annually. The formula to calculate the total amount in the savings plan is given by [tex]A = P (1 + r/n)^(nt)[/tex]

Putting the values in the formula, we get:[tex]A = 1300 (1 + 0.1/1)^(1 × 2)A = €1716.10[/tex] The total amount in the savings plan at the end of two years when depositing €1300 today at 10 percent compounded annually will be €1716.10. Deposit €600 today at 18 **percent** compounded monthly. The formula to calculate the total amount in the savings plan is given by

[tex]A = P (1 + r/n)^(nt) Where,P = €600r = 18 % per annum (compounded monthly).[/tex]

So, [tex]r = 18/12 = 1.5 % per **month **(in decimal form, r = 0.015)n = 12t = 2 years.[/tex]Putting the values in the formula, we get:

[tex]A = 600 (1 + 0.015/12)^(12 × 2)A = €1004.60[/tex]The total **amount** in the savings plan at the end of two years when depositing[tex]€600 today at 18 percent compounded monthly will be €1004.60.[/tex]

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Andrew owns "You're the Star", a small music shop which specializes in providing instructions on playing the air guitar. You're the Star reported an average retail inventory of $48,000. Its ROA was 8%, its net profit margin was 4%, and total assets of $96,000. Calculate the retailer's inventory turnover.

O 2 O 4 O 6 O 10 O None of the above

### Answers

Inventory turnover is a **financial** metric that is used to measure the number of times inventory is sold and replaced within a specific period. It measures how quickly a business sells its inventory and then restocks new inventory. It's usually **expressed** as a ratio of the cost of goods sold (COGS) to average inventory.

A high inventory turnover ratio means that a business is selling inventory at a rapid pace. The formula for inventory turnover is the cost of goods sold (COGS) divided by the average inventory value during the period. COGS is calculated using the formula:

Beginning inventory + Purchases - Ending **inventory** Andrew owns You're the Star, a small music shop that specializes in providing instructions on playing the air guitar. You're the Star reported an average retail inventory of 48,000.

Its ROA was 8%, its net profit margin was 4%, and total assets of 96,000.To find out the inventory turnover ratio, we need to use the formula for inventory turnover which is the **cost** of goods sold (COGS) divided by the average inventory value during the period.

And to calculate the cost of goods sold (COGS), we need to use the formula:

Beginning inventory + Purchases - Ending inventory Given, beginning inventory is not **provided** and ending inventory is 48,000 (average retail inventory).

The average inventory for the year will be 48,000/2 = 24,000.

Purchases = COGS + Beginning inventory - Ending inventory

If we substitute the given values in the above formula, we get;

COGS = Purchases - Beginning

inventory + Ending inventory = 0.08*96000 - 0.04*96000

= 3,840

Now we can use the inventory **turnover** formula to calculate the inventory turnover:

Inventory turnover = COGS

/ Average inventory= 3,840

/ 24,000 = 0.16 times

The inventory turnover of You're the Star is 0.16 times.

Option O) 2 is incorrect,

O) 4 is incorrect,

O) 6 is incorrect,

O) 10 is incorrect.

None of the above options are correct.

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A Chinese owned company operates a mining company in a rural area of the Copperbelt Province in Zambia. The company has been making some good profit since its inception, but it is now facing a threat to profitability because of a surge of rising sovereignty among the locals who resent foreign ownership of the mining company. Over the last year, the tension between the company and the local community has worsened to the extent that a traditional leader has called on the government to expropriate the company. Required: Discuss any four (4) strategies the company might use to stem the tide of rising antagonism towards it.

### Answers

There are various strategies that a Chinese-owned mining company can use to mitigate rising sovereignty among the locals who resent foreign **ownership **of the mining company.

Four (4) strategies are mentioned below:

1. Corporate Social Responsibility: In order to strengthen relationships with local people, the company can support the local **community **by providing educational and medical facilities, building schools, libraries, community centers, and also donating funds to community projects. This will help to address the critical issues facing the local people and will also help to build a positive reputation for the company.

2. Employment Opportunities: One of the primary concerns of the local people is employment. The company can address this issue by providing employment opportunities to the local people in various positions. This will help to generate goodwill among the local people and will also help the **company **to build a positive reputation.

3. Local Community Liaison Officer: The company can appoint a local community liaison officer to act as a mediator between the company and the local people. The liaison officer will help to address the concerns and grievances of the local people and will also help to build a positive relationship between the company and the local community.

4. **Communication**: The company can improve its communication with the local people by setting up regular meetings with the community leaders and providing updates on the company's activities. This will help to address any misunderstandings and concerns that the local people may have and will also help to build trust between the company and the local community.

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The principal responsibility of the members of this regulatory body is to administer the regulatory system, applicable to insurance intermediaries, under their authority. Select one: a. Canadian Life and Health insurance Association (CLHIA) b. The Canadian Council of Insurance Regulators c. The insurance regulator in the province d. Canadian Insurance Services Regulatory Organizations

### Answers

The correct answer is b. The Canadian **Council **of Insurance Regulators. Option B

The principal responsibility of the members of the Canadian Council of Insurance Regulators (CCIR) is to administer the regulatory system applicable to insurance **intermediaries **under their authority.

The CCIR is an association composed of provincial and territorial insurance regulators in Canada. It serves as a forum for collaboration and coordination among these **regulators **to develop and harmonize regulations and regulatory practices in the insurance industry.

The CCIR's main objective is to enhance consumer protection, maintain the stability of the insurance sector, and promote fair and efficient markets. As such, its members work together to establish and enforce rules and standards that govern insurance intermediaries, such as brokers, agents, and adjusters.

These regulations aim to ensure that insurance intermediaries meet certain qualifications, act in the best interests of consumers, and comply with ethical and professional standards.

By administering the regulatory system, the CCIR members oversee licensing, registration, and compliance of **insurance **intermediaries within their respective jurisdictions.

They conduct examinations, investigations, and audits to monitor the activities and practices of intermediaries. They also have the authority to impose penalties and disciplinary actions for violations of regulatory requirements.

The CCIR plays a crucial role in maintaining the integrity and stability of the insurance industry in Canada. Through their collective efforts, they establish a consistent regulatory framework that promotes confidence in the insurance market and protects the interests of policyholders. Their work helps ensure that insurance intermediaries operate in a fair and responsible manner, providing reliable and trustworthy services to consumers.

Option b

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What is the discount yield, bond equivalent yield, and

effective annual return on a $1 million T-bill that

currently sells at 96.375 percent of its face value and is

65 days from maturity? (Use 360 days for discount

yield and 365 days in a year for bond equivalent yield

and effective annual return. Do not round intermediatecalculations. Round your answers to 3 decimal places.

(e.g., 32.161))

Discount yield %

Bond equivalent yield %

Effective annual return %

### Answers

The discount yield, bond **equivalent **yield and effective annual return on a 1 million T-bill that currently sells at 96.375% of its face **value **and is 65 days from maturity are as follows.

Calculations:The face value of the T-bill is 1,000,000The T-bill is currently **selling **at 96.375% of its face valueThus, the purchase price of the T-bill is 963,750The number of days to maturity is 65 daysThe **discount **on the T-bill is equal to the difference between its face value and purchase price1,000,000 - 963,750 = 36,250.

Discount yield = Discount / Face Value x 360 days / Number of Days to Maturity

Discount Yield[tex]= $36,250 / $1,000,000 x 360 days / 65 daysDiscount yield[/tex]

= 7.121%Bond Equivalent Yield (BEY) = Discount yield x 365 days / 360 daysBond **Equivalent **Yield (BEY)

= 7.121% x 365 days / 360 daysBond Equivalent Yield (BEY)

= 7.246%Effective Annual Return (EAR)

= (1 + Discount yield x Number of Days to Maturity / 360 days) ^ (365 days / Number of Days to Maturity) - 1Effective Annual Return (EAR)

= (1 + 7.121% x 65 days / 360 days) ^ (365 days / 65 days) - 1Effective **Annual **Return (EAR)

= 7.498%

Therefore, the Discount yield % is 7.121%, Bond equivalent yield % is 7.246% and the Effective annual return % is 7.498%.

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