The Consumer Financial Protection Bureau states that 75% of the industry’s fees come from borrowers who take out more than 10 loans a year. The Center for Responsible Lending is a nonprofit, non-partisan organization that focuses on fighting predatory lending practices. The director of state policy Diane Standaert argues that payday loans are not how the industry advertises them to be, and that borrowers have no choice but to roll over their loans many times, which rises the interest fees, trapping the low-income borrowers in an endless loop. The Center for Responsible Lending offers a yearly interest percent cap at 36%, claiming it to be reasonable standard for borrowers to pay back. However, Jamie Fulmer, the spokesperson for Advance America, one of the United State’s biggest payday lenders, argues that the proposed price cap is not reasonable at all, since they cannot make a reasonable profit from that, and explains further that the payday-loan interest
According to Source 4: Favor Abolishing The Penny? By the New York Times, The data shows 59 percent are for keeping the penny while an underwhelming 23 percent are for abolishing it. Conversely, the reason for the difference is unclear but, if more people were aware of the repercussions pennies are causing they arguably most likely would switch sides in the argument. According to Abolish the Penny by William Safire, “There is no escaping economic history: it takes nearly a dime today to buy what a penny bought back in 1950. Despite this, the U.S. Mint keeps churning out a billion pennies a month.” The complete waste of time and money spent producing these pennies just to be forgotten in the couch cushions is astounding.
We evaluated the client period of time price (CLV) of Sonance's completely different customers as of 2004 supported the knowledge provided within the case and our own assumptions (see Exhibit one within the Appendix). Our primary assumptions for this analysis square measure below: • Original Series Dealers • Price per try of $140 • Retention Rate of seventy fifth, conservative estimate supported amendment in range of dealers from 2003 to 2004 (600 to 500) • Growth rate of fifty, below growth in shopper
Present your solutions to the textbook problems here. Keep the problems in the order listed in the syllabus. If none for the week, so state in the submission area. 16-A1 Balance Sheet and Income Statement Weikart Company Balance Sheet December 31, 20X0 Assets Amount ($) Current Assets: Cash and equivalents $55,000 Accounts receivable, net 48,000 Inventories 36,000 Prepaid expenses 15,000 Interest income 15,000 Total Current Assets: $229,000 Non-Current Assets: Property, Plant and Equipment At cost $580,000
The put contracts that have a strike price lower than $174.25 are out of the money. The relationship isn’t perfectly linear because the data is messy and includes a lot of anomalies. Although, the price of the put has a correlation of .717 with the strike price. So this proves that
Case Study: Aksa and Shabir Mohammad Monthly Budget for Aksa and Shabir Mohammad______________________ Gross Monthly Income 10 000 Income tax, CPP, EI, pension (3500) Disposable Income 6500 Necessities Student loan payments 800 Rent 1000 Car payments and maintenance 1000 Insurance 600 Cable, internet and phone plans 300 Transit 280 Groceries 400 Clothing 450 Total Necessities 4830 Discretionary Income 1670 Discretionary Expenses Meals out, movies, vacations 1000 Balance 670 Analysis 1a.) Aksa and Shabir Mohammad have a balanced monthly budget because they have some money left over after all necessities and deductions have been paid off. The balance
7.4 General Assumptions General Assumptions Year 1 2 3 Short Term Interest Rate 9.5% 9.5% 9.5% Long Term Interest Rate 10.0% 10.0% 10.0% Federal Tax Rate 33.0% 33.0% 33.0% Provincial Tax Rate 5.0% 5.0% 5.0% Personnel Taxes 15.0% 15.0% 15.0% 7.5 Profit and Loss Statements Proforma Profit and Loss (Yearly) Year 1 2 3 Sales $407,778 $440,400 $475,632 Cost of Goods Sold $40,778 $44,040 $47,563 Gross Margin 90.00% 90.00% 90.00% Operating Income $367,000 $396,360 $428,069 Expenses Payroll $198,500 $227,115 $257,268 General and Administrative $25,200 $26,208 $27,256 Marketing Expenses $2,039 $2,202 $2,378 Professional Fees and Licensure $5,219 $5,376 $5,537 Insurance Costs $1,987 $2,086 $2,191 Travel and Vehicle Costs $7,596 $8,356 $9,191 Rent and Utilities $20,000 $21,000 $22,050 Miscellaneous Costs $4,893 $5,285 $5,708 Payroll Taxes $29,775 $34,067 $38,590 Total Operating Costs $295,209 $331,695 $370,169 EBITDA $71,791 $64,666 $57,900 Federal Income Tax $23,691 $18,656 $16,642 Provincial Income Tax $3,590 $2,827 $2,522 Interest Expense $8,738 $8,131 $7,468 Depreciation Expenses $4,107 $4,107 $4,107 Net Profit $31,666 $30,944 $27,160 Profit Margin 7.77% 7.03%
According to Yoder-Wise (2011), “variance is the difference between the projected budget and the actual performance for a particular account” (p. 243). In the table presented on page 244 of Yoder-Wise (2011), some of the major budget variances are the insurance payment revenues (550), managerial/professional expenses (-750), benefits expenses (-200), and net non-personnel expenses (-250). A favorable variance is seen when the actual amount spent is lesser than the projected budget, while an unfavorable variance occurs when the actual amount spent is greater than the budget (Yoder-Wise, 2011, pp. 243-244). The favorable variances exhibited on the same table are the insurance payment revenues (550), donations revenues (50), and clerical/technical expenses (200).
Figure 50 normal replacement of the sixty percent pay, although some people are now paying a replacement of eighty percent. The biggest advantage of $1000 a week on Monday is an unusually short period of incompetence, while long distance barriers may give up the $10000 monthly advantage. Arrangements should be organized to adjust the money associated with the help of a terrible need and motivation to come back to work. d. Individuals have the option to accept a reduced income monthly income test if this is their advantage to do so. This option is usually exercised during the first year of retirement, because during that year, the monthly test allowed for a few months, even if the annual income limit exceeded.
Special Ticket Sales $348,140.00 $355,102.80 $386,128.49 Concessions $591,396.00 $615,288.40 $655,928.20 Advertisements $35,000.00 $35,000.00 $35,000.00 Digital Media/Rentals $250,000.00 $250,000.00 $250,000.00 Capital Investment $600,000.00 - - Net Profit Investment - $249,359.75 $255,049.63 Total Income $2,063,594.00 $1,756,932.95 $1,837,429.29 EXPENSES Product/Service Year 1 Year 3 Year 5______ Accounting/Legal $3,500.00 $3,500.00 $3,500.00 Marketing $5,000.00 $6,800.00 $7,850.00 Dues $500.00 $500.00 $500.00 Insurance $3,600.00 $3,600.00 $3,600.00 Maintenance $6,500 $6,500.00 $6,500.00 Office Supplies $850.00 $850.00 $850.00 Postage $250.00 $250.00 $250.00 Site Developments $130,000.00 $10,500.00 $15,000.00 Employee Expenses $477,912.41 $477,912.41 $477,912.41 Board Compensation $36,000.00 $36,000.00 $36,000.00 Taxes/Licenses $450.00 $450.00 $450.00 Telephone & Internet $950.00 $950.00 $950.00 Concessions $75,000.00 $75,000.00 $75,000.00 Utilities $4,900.00 $4,900.00 $4,900.00 Other $75,000.00 $0 $0___________ Total Expense $820,412.41 $627,712.41 $633,262.41 Net Profit $820,499.85 $745,285.56
From the two separate land and building sales, HCC is taking in $10,563,161 for the property. Recall that HCC invested $16,102,702. That means at least $5,539,541 in tax dollars were lost on the Sienna location. HCC sold a $16 million dollar investment for $10.5 million. The way HCC is passing this off as zero-dollar loss because the deficit is filled by grant and tax dollars.