If the price of oil suddenly went up, what would be the consequence?

(Think "scarcity")

Gasoline prices will suddenly go up.

Gasoline prices will suddenly go down.

People will continue to drive with the same frequency.

People will not consider gas mileage when purchasing a vehicle.

A person wants to borrow $5,000 at 1% interest rate for 5 years. The equation to use to determine the total finance charge would be what?

5 = FC x .01 x $5,000

$5,000 = FC x.01 x 5

FC = $5,000 x .01 x5

.01 = FC x $5,000 x 5

Mr. Shae's class is having a discussion about the writings of Shakespeare. One student says, "One theme found in Romeo and Juliet is that love can cause violence. Although the play is a famous love story, it is actually very violent."

What does the formula, "FC=P*R*T" tell the borrower?

A. It informs the borrower on how to save money on the finance charges.

B. It tells the borrower the day of the month the payment will be due.

C. It informs the borrower on the total interest the borrower will pay on top of the loan.

D. It tells the borrower the name of the institution that will lend the money.

A person wants to borrow $100,000 at 4% interest rate for 30 years. The 4% would be considered what part of the loan?

rate

finance charge

time

principal

There is a formula to compute interest charges. The formula is FC = P * R * T. In this formula, R is an abbreviation for what?

rate

ratio

reward

reserve

A person wants to borrow $20,000 for 30 years at 2% interest. In this situation the 30 years is considered what part of the loan?

rate

time

finance charge

principal

Prepare the journal entries to record the initial measurement AND the subsequent measurement of the investments in XY and LM in the financial statements of Wayaa for the year to 31 December 2018.                                         

The price of a calculator dropped from $23.88 to $19.68. What was the percent change in price? Rounded to nearest tenth percent.

Ray, Tyler and Jason decided to divide the monthly bill for renting their television according to the number of hours each of them had spent watching it. If Ray watched 16 hours, Tyler watched 40 hours, and Jason watched 24 hours, how much should they each pay for the $160.00 bill?

Wrenches cost $60.00 per carton and hammers cost $200.00 per carton. An order comes in for a total of 70 cartons for $7,840.00. How many cartons of cartons of wrenches and hammers are involved? ( Hint: let H equal hammers.)

Joshua, a business development representative at Apricot Inc, took his client out for dinner that cost $92.75 before taxes. If he paid taxes of $4.64 on the meal, calculate the tax rate. Round answer two decimal places.

______%

Round your answer to two decimal places.