On April 1, the price of gas at Bob's Corner Station was $3.50 per gallon. On May 1, the price was $4.00 per gallon. On June 1, it was back down to $3.50 per gallon. Between April 1 and May 1, Bob's price increased by $0.50 or 14.29% Between May 1 and June 1, Bob's price decreased by $0.50 or 14.29% Suppose that at a gas station across the street, prices are always 20% higher than Bob's. In absolute dollar terms, the difference between Bob's prices and the prices across the street is greater when gas costs $4.00 than when gas costs $3.50. Some economists blame high commodity prices (including the price of gas) on interest rates being too low. Suppose the Fed raises the target for the federal funds rate from 2% to 2.75%. This change of raised its target by approximately percentage points means that the Fed

On April 1, the price of gas at Bob's Corner Station was $3.50 per gallon. On May 1, the price was $4.00 per gallon. On June 1, it was back down to $3.50 per gallon. Between April 1 and May 1, Bob's price increased by $0.50 or 14.29% Between May 1 and June 1, Bob's price decreased by $0.50 or 14.29% Suppose that at a gas station across the street, prices are always 20% higher than Bob's. In absolute dollar terms, the difference between Bob's prices and the prices across the street is greater when gas costs $4.00 than when gas costs $3.50. Some economists blame high commodity prices (including the price of gas) on interest rates being too low. Suppose the Fed raises the target for the federal funds rate from 2% to 2.75%. This change of raised its target by approximately percentage points means that the Fed

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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2. Gas rates for residential customers will likely drop by 5.23 percent, starting Nov. 1. If the state Public Service Commission approves the lower rate, the average customer's monthly gas bill would drop by about $7.50 a month. Mountaineer's business customers will see their gas rates decline by about 4 percent, while industrial customer rates will drop 9.2 percent a. Suppose you are creating the spreadsheet below to track the gas rates. A B C 1 Type of Customer Original Rate New Rate 2 Industrial 3 Business 4 Residential b. Based on the information in the article, what was the average monthly gas bill for a residential customer before the rate change? Round to the nearest dollar.
In 1998, the average price of a gallon of gas was $1.02. Today, the average price of a gallon of gas is $2.81. At what annual rate has a gallon of gas increased over the last 20 years? (Answer as a percent. Enter only numbers and decimals in your response. Round to 2 decimal places.)
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Need help with revising questions. Expected Answers are provided at the end of each question. Determine the present value of the income from cotton 4 years from now for full water application and a required rate of return of 7 %. (1) Assume no inflation. (2) Assume inflation of 5 % per year in costs and no inflation in the selling price of cotton. Current yearly income is $854.25, and current yearly expenses are $721.16. Answer: With no inflation $451, with inflation -$75. Develop a rule of thumb for pump flow rate requirement for an area that has a max ET ¼ 10 mm/d in terms of gpm/acre? The expected irrigation efficiency is 70 %, and the expected downtime is 10 %. What pump flow capacity will be required for a 10 acre farm? If the farm is divided into five irrigation zones, then what pump size is required? Answer: For a 10 acre farm, the pump should produce 106 gal/min. The same pump size is required for any number of zones.
16) can you please help with this question?
The Johnson Shop bought 3 jet skis for $3,600, and sold each one for $1,500. The markup percent was: O 20% O 30% 42% O 50% There is not enough information to tell.
Gas was 3.21 a gallon on Monday. On Wednesday, gas prices increased 3.3%. On Friday, prices decreased 8.3%. What was the price of a gallon of gas on Friday?
The CPI increased from 125.0 to 132.0 over a three-year period. If a person earned $40,000 at the beginning of the three-year period, how much would they have to earn at the end of the three-year period to maintain the same purchasing power? O$40,933 $42,121 $42,800 $42.240
Tom went to the store and bought two shirts for $50 each, socks for $10 and pants for $30. If the sales tax was 6%, what was the total purchase price? Round to the nearest cent (two decimal places). Your answer will look like this: 50.25 For your answer, do NOT include words, symbols, commas, etc.
The EPA rating of a car is 21 mpg. If this car is driven 1,000 miles in 1 month and the price of gasoline remained constant at $3.07 per gallon, calculate the fuel cost (in dollars) for this car for one month. (Round your answer to the nearest cent.) $?
Red Hawk, Incorporated, is considering a change in its cash-only sales policy. The new terms of sale would be net one month. The required return is .96 percent per month. Current Policy New Policy Price per unit $ 1,100 $ 1,100 Cost per unit $ 910 $ 910 Unit sales per month 1,160 1,260 Calculate the NPV of the decision to switch. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Typing only. ..
Horizon BP in Antelope Park, Alaska, has noticed that utility bills are substantially higher when the average monthly temperature is colder. The only thing in the shop that uses natural gas is the furnace. Because of prevailing low temperatures, the furnace is used every month of the year (though less in the summer months and very little in August). Everything else in the shop runs on electricity, and electricity use is fairly constant throughout the year. For a year, Horizon has been recording the average daily temperature and the cost of its monthly utility bills for natural gas and electricity. January Average Temperature 31°F Utility Cost $ 764 February 41 633 March 43 547 April May 44 414 46 279 June 50 237 July 53 224 August 60 214 September 50 309 October 40 534 November 30 December 10 754 884 Required: Use the high-low method to estimate utility cost for the upcoming months of January and February. The forecast for January is a near record average temperature of 5°F;…