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the rest of chapter 4 and some of chapter 5

by: Hali Marie Harrison

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the rest of chapter 4 and some of chapter 5 CIS 201-904

Marketplace > Missouri State University > CIS 201-904 > the rest of chapter 4 and some of chapter 5
Hali Marie Harrison
MSU
GPA 2.89

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This 1 page Bundle was uploaded by Hali Marie Harrison on Monday September 28, 2015. The Bundle belongs to CIS 201-904 at Missouri State University taught by Radhika Kaula in Fall 2015. Since its upload, it has received 24 views.

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Date Created: 09/28/15
Chapter 4 Businesses have 3 options when they want to buy something They can either buy the item outright with cash borrow money for the item or lease the item Borrow vs Lease Lease payments are generally lower monthly than payments for a loan When you borrow money you have to put a down payment on the item up front vs with a lease there is no money down Leases and borrowed money have tax deductibles If the business borrowed money to obtain the item eventually when the item is paid off the business will own the item and be able to sell it But in a lease you do not own the item so you will never be able to sell the item for a profit Time Value of Money the dollar amounts today are worth more now than what it would be sometime in the future Payment Analysis when you borrow money The Principle is the amount of the loan you took out the Interest Rate is the rate charged based on the amount of the loan the Term or of payments is how long you have to pay off the loan could be months or years Present Value the value right now of a future value or a series of payments Future Value the value of an asset or a series of payments at a certain time in the future used to see how much money you would need to save for a purchase over a few years Total Payments month payment amount x the number of years x 12months in a year Cost of Borrowing Total Payments Present Value For 1 lump sum amount interest rate and term don t get converted into monthly amounts Chapter 5 Decision Support System allows business to use a quotdecision support model to make important decisions Weighted Criteria Analysis this is the decision support model mentioned above Businesses use this tool to pick between subjective choices This means that not everyone that has an opinion in the decision is agreeing upon one choice Subjective the factors influencing a group of individuals making decisions are influencing each person will be valued differently by each person 5 steps for a Weighted Criteria Analysis 1 Choose Criteria must be important and relevant 2 Weight the criteria you chose is weighted by importance must add up to 100 3 Select Alternatives Choices must be mutually exclusive 4 Assign a rank to each of the chose criteria Scale of 15 1 being poor and 5 being outstanding 5 point Likert Scale provides a midpoint of 2 which is often identified as aver or neutral 5 Calculate the score of each criteria Score Weight x Rank

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