A consumer has a choice of spending $20,000 on a Honda or $14,000 on a Kia. She was observed buying a Kia during the weekend. Does this mean the consumer prefers the Kia to the Honda? Explain your answer
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Exercise 1. A consumer has a choice of spending $20,000 on a Honda or $14,000 on a Kia. She was observed buying a Kia during the weekend. Does this mean the consumer prefers the Kia to the Honda? Explain your answer
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- Question 2 A. Amy and Sarah want to make money to buy Christmas gifts for their mothers. They see their opportunity in making and selling necklaces from glass beads. For this venture to be successful, they must first invest $500 for various tools. For each necklace they would need to purchase a set of beads. The supplier is offering each set for the basic price of $15. The girls presume that $65 per necklace would be their selling price. i. Derive the revenue function. ii. Derive a cost function. iii. What is the total cost of producing 40 necklaces?Linda Baer has already saved $4 comma 3134,313 to buy a used vehicle. Ignoring taxes and assuming her money is invested in a money market account earning 44 percent compounded annually, how long will it take to buy a car that costs $6 comma 9056,905? Question content area bottom Part 1 Click on the table icon to view the FVIF table: LOADING... . Ignoring taxes and assuming her money is invested in a money market account earning 44% compounded annually, to save the money to buy a car that costs $6 comma 9056,905 will take enter your response here years. (Round to the nearest integer.)REFLECTING Should Jill consider a payday loan to purchase the refrigerator? Explain. Hint APR means annual percent rate. F welding. He needs money 2. Jill is buying a new refrigerator. She cannot afford to pay cash. Should she use a credit card or get a personal loan? Justify your answer. 3. Liam, a taxi driver in Revelstoke, wants to buy a new taxi. He was approved for the loans in this chart. a) What should Liam think about when he chooses a loan? Choose a louh APR Loan secured personal loan auto loan 7.5% 5.5% b) Which loan should Liam choose? Explain why. Fixed payments for 4 yr 6 yr 4. Hannah says that using payday loans and cash advances on credit cards are bad choices for borrowing money. Do you agree or disagree? Explain.
- REFLECTING Should Jill consider a payday loan to purchase the refrigerator? Explain. Hint APR means annual percent rate. 2. Jill is buying a new refrigerator. She cannot afford to pay cash. Should she use a credit card or get a personal loan? Justify your answer. 3. Liam, a taxi driver in Revelstoke, wants to buy a new taxi. He was approved for the loans in this chart. a) What should Liam think about when he chooses a loan? should Choose the Lost Fixed APR payments for 4 Apprenticeship and Workplace 11 secured personal 5.5% loan auto loan 7.5% b) Which loan should Liam choose? Explain why. 4 yr 6 yr 4. Hannah says that using payday loans and cash advances on credit cards are bad choices for borrowing money. Do you agree or disagree? Explain. NELJake's Car-Buying Decisions Jake, who lives in St. Louis, is trying to decide between the following car models: Brand and Model Hyundai Accent Mini Cooper Jeep Wrangler Volvo C70 Cost $14,195 23,450 26,790 39,950 He's currently accumulated a down payment of $1,000 and he has determined that he can afford maximum payments of $425 per month. His initial research on the current cost of auto loans has found that his lowest cost loan would be made by a credit union and would require an interest rate of 6% for four years. Given this information, the maximum amount that Jake can afford to pay for his new car is afford to purchase, without stretching his budget, is: The Volvo C70 The Jeep Wrangler The Mini Cooper The Hyundai Accent $14,323 $21,962 $19,097 , and the most expensive car that he canYou purchased a new Beats headphone on sale for $200. Your grandma also bought one for you as a gift at the same price. Your friend offers to purchase the second headphone from you for $120. If you choose not to sell, the opportunity cost of keeping the second headphone Select one: O A. is $120. OB. cannot be determined without further information. OC. is zero OD. is $320. OE. is $80. AL 21 Time left 0:39:26
- You are the manager of a rental car company. A customer, Sandy Furrow, has asked you for an estimate of charges for a nine day rental of an SUV. She expects to drive 670 miles. If the company charges $52.50 per day plus 17 1/2 cents per mile for this category of vehicle, what would be the total rental charge (in $) for Sandy's trip?es Kristen Lu purchased a used automobile for $28,600 at the beginning of last year and incurred the following operating costs: Depreciation ($28,600 + 5 years) Insurance Garage rent Automobile tax and license Variable operating cost Relevain ry The variable operating cost consists of gasoline, oil, tires, maintenance, and repairs. Kristen estimates that, at her current rate of usage, the car will have zero resale value in five years, so the annual straight-line depreciation is $5,720. The car is kept in a garage for a monthly fee. Average fixed cost per mile Variable operating cost per mile Average cost per mile $ 5,720 $ 3,000 $ 1,500 $780 $ 0.11 per mile Required: 1. Kristen drove the car 22,000 miles last year. Compute the average cost per mile of owning and operating the car. (Round your answers to 2 decimal places.)Activity Answer the following five (5) questions in complete sentences: 1. When would leasing a vehicle be a better option than buying? 2. Describe in at least five sentences how you will prepare to purchase your next vehicle in order to (1) get the appropriate vehicle, (2) to get the best deal, and (3) to avoid getting ripped off. For the Questions 3-5 assume you want to finance (borrow) $12,000 for your next car and your interest rate will be 6%. 3. What will be your monthly payment and the total amount paid over the life of the loan if you finance for 48 months? Provide the car payment and the TVM inputs you used to calculate the payment. Payment Total of all payments PV FV RATE/INTEREST PERIODS/N (See next page for Questions 4 and 5)
- Planning a new car purchase . Olivia Green has just graduated from college and needs to buy a car to commute to work. She estimates that she can afford to pay about $450 per month for a loan or lease and has about $2,000 in savings to use for a down payment . Develop a plan to guide her through her first car -buying experience , including researching car type , deciding whether to buy a new or used car , negotiating the price and terms , and financing the transactionPlease help G Natalie and Curtis have been experiencing great demand for their cookies and muffins. As a result, they are now thinking about buying a commercial oven. They know which oven they want and that it will cost $22,100. The company already has $6.500 set aside for the purchase and will need to borrow the rest. ► Natalie and Curtis met with a bank manager to discuss their options. She is willing to lend Cookie & Coffee Creations Inc. $15,600 on November 1, 2023, for a period of 3 years at a 5% interest rate. The terms provide for fixed principal payments of $2,600, on May 1 and November 1 of each year plus 6 months of interest. (a) Prepare a payment schedule for the life of the note. (If answer is 0, please enter O. Do not leave any fields blank)Connect Problem 01-13 (algo) Next Friday, you plan to sell cakes at a bake sale to raise money for your school. You plan to charge $30 per cake, and you anticipate that you will sell 10 cakes. You can either purchase cakes to sell or bake them yourself. If you purchase the cakes, they will cost $23 each. If you bake your own cakes, your cost depends upon the number of cakes you bake, as shown in the table below. Number of cakes you bake Bake $ 0 1 2 3 4 5 6 7 8 9 10 a. How many cakes should you bake? How many cakes should you purchase? Instructions: Enter your answer as a whole number. cake(s) and purchase cake(s). b. Given your answer to part a, how much in total will the 10 cakes cost you? Instructions: Enter your answer as a whole number. Total cost of baked cakes ($) 0 10 22 36 52 70 90 112 136 162 190 c. How much would it have cost you to bake all 10 cakes?