Mr. Lavergne accumulated $320 000.00 in an RRSP. He converted the RRSP into an RRIF and started to withdraw $8500.00 at the end of every three months from the fund. If interest is 6.68% compounded monthly, how many withdrawals can Mr. Lavergne make? (Calculate to one decimal place, eg 12.3)
Answers
Mr. Lavergne can make approximately 21 withdrawals from the RRIF before depleting the fund. This is calculated using the present value of an annuity formula and rounding down to the nearest whole number.
To determine the number of withdrawals Mr. Lavergne can make, we need to calculate the duration of time for which the withdrawals can be sustained before depleting the RRIF.
Given:
Principal amount (RRSP) = $320,000.00
Withdrawal amount per quarter = $8,500.00
Interest rate (compounded monthly) = 6.68% or 0.0668 (in decimal)
We can use the formula for the present value of an annuity to find the number of withdrawals:
Present Value of Annuity = Withdrawal Amount * [(1 - (1 + Interest Rate)^(-n)) / Interest Rate]
Where n is the number of periods.
Rearranging the formula to solve for n:
n = -log(1 - (Present Value of Annuity * Interest Rate) / Withdrawal Amount) / log(1 + Interest Rate)
Substituting the given values:
n = -log(1 - ($8,500.00 * 0.0668) / $8,500.00) / log(1 + 0.0668)
Using a calculator, the calculated value of n is approximately 21.3.
Therefore, Mr. Lavergne can make approximately 21.3 withdrawals from the RRIF before depleting the fund. Since we cannot have a fractional number of withdrawals, we round down to the nearest whole number.
The answer is 21 withdrawals.
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Related Questions
mikkel's company specializes in expensive high-quality headphones. however, he has recently become intrigued by inexpensive handheld gaming systems, so he plans to design and manufacture his own model in the hope of attracting younger buyers to his brand. by doing this, mikkel is pursuing the growth strategy known as .
Answers
Amplified word-of-mouth (WOM) is the term used when marketers run efforts intended to promote or hasten these organic discussions within their current clientele.
Operational excellence is attained through efficient logistics or human resource management, as well as effective operations. 3. Product excellence: Possessing goods with a high perceived worth and strong positioning and branding. The method through which a company distributes its integrated marketing resources to its intended audiences is known as the strategic marketing process. The fear of losing their employment might induce consumers to decide against making purchases. Without being excessively educated and informational, persuasive advertising may help you pique the curiosity of your primary target audiences and persuade them to try your product.
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Sharon is opening a new pizza restaurant that will use a combination of workers and ovens to produce pizzas. Sharon knows from experience that the total number of pizzas she can produce in an hour is given by the function q=4K0.5L0.5 , where q is the number of pizzas per hour, K is the number of ovens, and L is the number of workers. Suppose another pizza restaurant in the same town can produce 19 pizzas per hour. Being an extremely competitive person, Sharon wants to produce 20 pizzas per hour. Therefore, his total hourly cost function is given by ____
Answers
Answer:
Q+X = [4K^1/2L^1/2] + X
Explanation:
L = labour = workers
K = capital = ovens
You don't have the exact value of Q since the values of K and L are not given.
You should however note that Q is less than or equal to 19 pizzas/hour, since Sharon sought to stretch his capacity by producing up to 20 pizzas/hour owing to the presence of a competitor.
Assuming the distance/difference between 20 and Q is X (a positive number).
Sharon's new hourly cost function will be:
\(Q+X = [4K^1/2L^1/2] + X\)
Q+X = 20 and the law of mathematics states that whatever you add to the left hand side must be added to the right hand side, hence the addition of X to both sides of the equation instead of the left hand side alone.
The function can now be rewritten as 20 = [4K^1/2L^1/2] + X
where X = 20 - Q
which characteristic would concern an auditor about the risk of material misstatements arising from fraudulent financial reporting
Answers
Based on the information given, the characteristic that would concern the auditor is professional skepticism.
It should be noted that professional skepticism simply means an attitude that includes an questioning mind and the critical assessment of an audit evidence.
Professional skepticism would concern an auditor about the risk of material misstatements arising from fraudulent financial reporting.
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a business philosophy that suggests that local point of a business strategy must be customers in intends to serve is called
Answers
The advantages that a company's goods and services will provide to their clients are distinctly stated in a value proposition.
What is value proposition?The advantages that a company's goods and services will provide to their clients are distinctly stated in a value proposition.In the marketplace and among a target market or target audience, a well-crafted value proposition will set apart the company and/or its particular product or service.A corporation should use its value proposition statement as an opportunity to explain to customers why the business, its product, or its service is the best one to purchase. In a nutshell, it explains how the business can best satisfy the client's wants or address their issues.This should be accomplished by the value proposition in an accessible, succinct manner that clients will remember.As a result, a value proposition should be viewed as a strategy for attracting customers, retaining their business, positioning the business in the industry, increasing sales, and ultimately gaining a competitive edge.According to a 1988 staff document for the consulting company McKinsey & Co., Michael Lanning and Edward Michaels are credited for coining the term "value proposition." The writers of the essay "A business is a value delivery system" define a value proposition as "a clear, basic statement of the benefits, both tangible and intangible, that the company will provide, coupled with the approximate price it will charge each client segment for those services."To Learn more About value proposition refer To:
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When considering the relationship between investors and the CMT, which of the following is most accurate? Question 7 options: a) Investors recognize that all the assumptions of the CMT are unrealistic. b) Investors recognize that all of the CMT assumptions are not unrealistic. c) Investors are not aware of the assumptions of the CMT model. d) Investors recognize the CMT is useless for individual investors.
Answers
When considering the relationship between investment investors and the CMT (Capital Market Theory), the most accurate recognize that all the assumptions of the CMT are unrealistic. The correct answer is a) Investors recognize that all the assumptions of the CMT are unrealistic.
Capital Market Theory (CMT) is a finance and economics theory that explains the connection between risk and return in equities and other capital assets. The theory maintains that investors can be compensated for taking on additional risk with higher returns.
According to Capital Market Theory, in a market with perfect competition, every investor's portfolio should be optimized to maximize returns at a given level of risk. Investors, however, recognize that all of the assumptions of the CMT are unrealistic. Therefore, the most accurate statement when considering the relationship between investors and the CMT is Investors recognize that all the assumptions of the CMT are unrealistic. The correct answer is a) Investors recognize that all the assumptions of the CMT are unrealistic.
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Drag each option to the correct location.
Match the scenarios to the factors that affect the labor market.
foreign direct investment
outsourcing
immigration
Answers
Each scenario should be matched to the factors that affect the labor market as follows:
Immigration: Carlos is moving from Mexico to the United States because he got a job in a bank. He had his interview last month, and the bank agreed to hire him because he was willing to work for 10% less than most American workers, even though he has the same qualifications.Foreign direct investment: A US supermarket chain is going to open a few supermarkets in Europe because a recent survey showed that the chain has a huge potential for profits in Europe.Outsourcing: A renowned US information technology firm has recently signed a contract with a company based in the Philippines. The Filipino company will handle the accounts of the US firm. The US firm made this decision to reduce labor costs.What is immigration?Immigration can be defined as the movement of a group of people from one geographical region to another geographical destination such as a city, especially in search of any of the following:
Good governanceSecurityBetter living conditions.WorkJobsSocial amenitiesWhat is a foreign direct investment?A foreign direct investment (FDI) simply refers to a type of investment which is made by an individual or business organization (investor) into an investment market that is located in another country.
In conclusion, an example of foreign direct investment (FDI) is a US supermarket chain that is planning to open a few supermarkets in a country in Europe.
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Answer:
Post Test: Free Market and Businesses
Unit: 2
Economics
Question #12
__________________________________________________________
This is 100% right because I took the test
Go to explanation for picture with answers
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Explanation:
Here's the picture and I hope this helped!
Have a nice day!
Alejandro Yago leased a Jeep for $209.00 per month for 60 months.He paid a deposit of $850.00, a title fee of $45.00, and a license fee of $60.00. The lease carried a stipulation charging $0.12 per mile for all miles over 60,000. Alejandro drove the Jeep 73,524 miles. What is the total cost of leasing the vehicle?
Answers
Answer:
$14,267.88
Explanation:
The total cost of hiring the Jeep will consist of
1). Monthly costs of leasing: $209 x 60 = $12,540
2). Title fee =$45.00
3). License fee =$60.00
4). Stipulation charging : ( 73,524 - 60,000) x $0.12
=$13,524 x $0.12
=$1,622.88
Total cost =$12,540 +$45.00 +$60.00 +$1,622.88
Total cost = $14,267.88
3. Describe four other factors that can influence demand, with an example of each.
Answers
Answer:
Cost of product
income of consumer
price of other commodities
population size
Answer:
Four other factors that can influence demand, with an example of each are:
Consumer expectations. If consumers expect the price of a good to go up in the future, they may be more likely to buy it now, even if the price is currently high. For example, if consumers expect the price of gasoline to go up in the summer, they may be more likely to buy gas now, even if the price is currently high.The number of consumers in the market. If the number of consumers in the market increases, the demand for goods and services will also increase. For example, if the population of a country grows, the demand for goods and services will also grow.The distribution of income. If income is distributed more evenly, there will be more consumers with the ability to purchase goods and services. For example, if the government implements a tax policy that redistributes income from the wealthy to the poor, the demand for goods and services will increase.Government policy. Government policy can affect demand in a number of ways. For example, if the government subsidizes the production of a good, the price of that goods will go down, which will increase demand. Conversely, if the government taxes the production of a good, the price of that goods will go up, which will decrease demand.Specialization can help a country's economy by:
O A. reducing the level of division in its labor force.
O B. increasing its overall opportunity costs.
O C. increasing the cost of its voluntary exchanges.
O D. reducing its need to be self-sufficient.
Answers
Answer: reducing its need to be self-sufficient
Answer:
reducing its overall opportunity costs.
Explanation:
Read the following situation and decide whether or not anyone in the situation commits sexual harassment. Justify your judgement: “Kylie is Hector’s boss. Hector is attracted to Kylie and asks her on a date. Kylie, although flattered, turns Hector down. He feels a little hurt, but doesn’t bring it up again. Kylie, speaking with both male and female coworkers, describes Hector’s proposal and makes a joke about the lack of romantic prospects in his future. Hector hears about this conversation a week later.”
Answers
Answer:
Hector does not commit sexual harassment against Kylie when he asks her out. It is a one time event, and he does not push the issue. Kylie does not commit sexual harassment when she refuses Hector's proposal for a date. She does not demean him. Kylie does commit sexual harassment when she brings the incident up in the workplace. She speaks disparagingly of Hector's sexuality and it gets back to him. He can bring a sexual harassment claim against Kylie through his company.
Explanation:
on e2020
Answer:
Hector does not commit sexual harassment against Kylie when he asks her out. It is a one time event, and he does not push the issue. Kylie does not commit sexual harassment when she refuses Hector's proposal for a date. She does not demean him. Kylie does commit sexual harassment when she brings the incident up in the workplace. She speaks disparagingly of Hector's sexuality and it gets back to him. He can bring a sexual harassment claim against Kylie through his company.
Explanation:
In what way(s) do private loans differ from federal loans?
i. interest rates are based on credit history
ii. fewer repayment options
iii. cosigners may be required
iv. all answers are correct
Answers
all the statement is correct for private loans differ from federal loans
Unlike federal loans, most private lenders offer borrowers the option to choose between fixed and variable interest rates. Floating rates often start lower than fixed rates, especially during periods of low-interest rates, but can rise over time. Fixed fees are a safer choice for the average student.
Must be a US citizen or eligible non-citizen. Have a valid social security number. Have a credible degree or certificate course and be enrolled or admitted as a student of at least half of it. Maintaining academic performance in college.
Student loans may come from the federal government, private sources such as banks or financial institutions, or other organizations. Loans granted by the federal government, called federal student loans, typically offer more benefits than loans from banks and other private sources
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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If an increase in the price of good e leads to a large decrease in the demand for good f, what is the relationship between the two goods?.
Answers
Goods E and F are probably complimentary goods if a rise in the price of item E results in a significant fall in the demand for good F.
Thus, When two products are used or consumed together, they are said to be complementary.
The fact that demand for one product declines as the price of the other good rises shows that the two goods are frequently consumed together and that a change in one good's price has the opposite effect on the demand for the other.
If good E is coffee and good F is creamer, for instance, a rise in the price of coffee (good E) may result in a drop in the demand for creamer (good F), since consumers may decide to buy less coffee.
Thus, Goods E and F are probably complimentary goods if a rise in the price of item E results in a significant fall in the demand for good F.
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A cashier is what type of resource ?
A. Natural resource (N)
B. Human resource (H)
C. Capital good (C).
Answers
Answer: B
Explanation: theyre human and a resourc
Name three factors that determine a good’s or service’s elasticity.
Answers
Answer:
Many factors determine the demand elasticity for a product, including price levels, the type of product or service, income levels, and the availability of any potential substitutes. High-priced products often are highly elastic because, if prices fall, consumers are likely to buy at a lower price.
Explanation:
Answer:
(1) availability of substitutes(2) if the good is a luxury or a necessity, (3) the proportion of income spent on the good, and(4) how much time has elapsed since the time the price changed.When considering the interrelationships between efficiency and effectiveness where does a company ideally want to operate?
Answers
In an ideal world, a firm would operate in line with the statement in the top right corner.
What does "company" mean in the context of business?A business is a particular kind of corporate body that makes money by selling goods or services. Sheila was successful in landing a position as a secretary in the insurance industry. Firm, company, business, and association are examples of synonyms. terms that are similar to "business."
What types of businesses are there?In accordance with the Companies Act, a company is a legal character or a legally recognized business entity. It might be a community interest corporation, a private or public company, limited by guarantee or with share capital, and limited or limitless.
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can someone help me? got till the end of the day :/
Answers
Answer:
A
Explanation:
Suppose you are a manager at an advertising agency who is eager to utilize Covey's advice about delegation. Today, you need to work on a
presentation for a potential new client. This requires delegating a routine status report about an ongoing advertising campaign to Joanne. By
delegating the status report to Joanne, she has
for its completion.
Answers
Available Option Are:
Juanita must have authority over the resources and personnel needed to complete the status report You should help Juanita with the status report, to the extent you have timeJuanita will have full responsibility for the assignment Juanita will be held accountable for the results of the assignment.Answer:
Correct Options are 1, 3 and 4.
Explanation:
She also has authority to access the legitimate resources to complete the status report in due time. Hence Option 1 is correct.
However, after delegating the assignment to Joanne. I am not responsible to help her complete the task. I may have responsibility of reviewing the status report but I am not responsible for helping her to complete the status report whenever I am free. Hence Option 2 is incorrect.
The reason is that after delegating the task to Juanita with authority and responsibility to complete the assigned task, she is now responsible to complete the status report as the task is assigned to her. Hence option 3 is correct
If Juanita's status report was not difference making or in simple words the purpose of the status report was not fulfilled then she will accountable for the outcome. Hence Option 4 is correct.
Eliza Conner owns a small clothing boutique. Eliza uses her personal checking account for both business and personal needs. How would you convince Eliza that she should open a separate
bank account for her business?
Answers
Answer:
1. It will cause them confusion throughout the tax calculating process.
2. Using a single account will make it difficult to keep payroll records.
3. Keep track of your personal expenses and earnings.
Explanation:
1. It is preferable to establish a separate account to separate the firm's actual income and expenses.
2. Payroll expenses are indistinguishable from personal expenses.
3. This allows you to cross-check bank and hand-made documents for income and expenses. Because cash transactions may not be recorded in the bank account, the entrepreneur should preserve receipts in order to compute revenue and expenses, which may result in erroneous financial statements.
n the context of union security agreements, a closed shop refers to a: a. factory where the workers are shut out of their workplace for a prolonged period of time. b. condition where a company or an industry shuts down due to financial constraints. c. situation where workers abruptly walk off their jobs due to dissatisfaction. d. workplace in which only workers who are already union members may be hired by the employer
Answers
In the context of union security agreements, a closed shop refers to a workplace in which only workers who are already union members may be hired by the employer. .
This means that non-union workers are not allowed to work in the closed shop, and existing employees must join the union within a certain period of time after being hired. Closed shops were once a common practice in many industries, but they are now prohibited by law in the United States under the Taft-Hartley Act of 1947. The purpose of a closed shop is to ensure that all workers in the workplace are members of the union, which can help to strengthen the bargaining power of the union and ensure that all workers are represented fairly in negotiations with the employer. However, closed shops can also be controversial, as they can be seen as infringing on the rights of non-union workers to seek employment. Some argue that closed shops can lead to a lack of diversity in the workplace and can be exclusionary to those who may not be able to afford union dues or who do not agree with the policies of the union. Despite these debates, closed shops are no longer legal in the United States and have largely been replaced by other types of union security agreements, such as agency shops or union shops.
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Which best describes the business, management, and administration career cluster?
Answers
Answer:
are careers that are focused on running businesses.
Explanation:
The Business, Management, and Administration career cluster includes business skills essential to efficient, productive operations for any company (Administrative and information support, Business analysis, Business, financial management and accounting, Human resources, Management..) The Business, Management, and Administration career cluster is best described with the following: These are careers that are focused on running businesses.
Correct answer: A
What is Gravitational law and how yo solve it
Answers
Explanation:
I believe this is what you are asking for, Newton's law of gravitation.
The law of Newton's universal-gravitation states that every particle will attract every other particle in the universe. The force that attracts this is a force that is directly proportional to a product of the mass.
If you are a Japanese producer who sells products in the US, you want a foreign exchange future without going through the futures market. So, you borrow money in dollars with an interest rate of 5% and immediately convert it to yen at a rate of 1 dollar to 100 yen. Then you put the money in a Japanese interest-bearing account with an interest rate of 10%. What is the forward exchange rate in this case?
Answers
Answer:
104.76 yen per dollar
Explanation:
the forward rate = spot rate x [(1 + foreign interest rate) / (1 + domestic interest rate)] = 100 yen x [(1 + 10%) / (1 + 5%)] = 100 yen x (1.1 / 1.05) = 104.76 yen per dollar
Since the interest rate in Japan is higher than the interest rate in the US, investors will start to purchase more yens in order to gain higher interest rates, which will eventually appreciate the yen against the dollar until both interest rates match.
When preparing a business message, you should make your writing audience oriented. Audience oriented means a. attempting to get your audience to believe and accept your message. b. writing to solve a problem or convey information. c. presenting ideas clearly but concisely. d. concentrating on looking at the message from the receiver's perspective.
Answers
Answer:
D. Concentrating on looking at the message from the receiver's perspective.
Explanation:
When writing a business message, it is important to ensure that the perspective of the receiver is considered. There are two sides to a message; the speaker and the receiver. By making a business writtings audience oriented, it means that thoughts of the receiver or audience is considered alongside the message.
Although other skills such as; present ideal clearly but concise, attempt to get your audience to believe and accept your message, write to solve a problem or convey information are essential qualities of business writtings, yet do not point to audience oriented message.
PLEASE HURRY!! I'M IN A TEST!!
Juan has a bachelor's degree in science; he has worked in the marketing research industry for five years; and he has two years of experience in the health care industry. He has just gotten a new job with Arrow Research. Juan will be helping define the objectives of marketing research projects in the health care industry, and analyzing and interpreting data. Juan's job is most likely as a _____. (Select all that apply.)
research manager
marketing research analyst
account executive
project director
Answers
He has just gotten a new job with Arrow Research. Juan will be helping define the objectives of marketing research projects in the health care industry, and analyzing and interpreting data. Juan's job is most likely as a Marketing research analyst
Option B is correct
His job responsibilities include defining the objectives of marketing research projects in the health care industry and analyzing and interpreting data.
Marketing research analysts typically have a bachelor's degree and several years of experience in the field. Juan's experience in both marketing research and healthcare industries make him a suitable candidate for this job.
Option B is correct
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The perfect order measures how effectively logistics serves the customer while the landed cost measures how efficiently logistics provides that service.
a. true
b. false
Answers
This is so because the landed cost assesses the effectiveness of logistics in serving the client, whereas the smooth flow measures the effectiveness of logistics in serving the customer.
Who are these customers, exactly?An individual or company that purchases services or products from that other company is known as a customer. Customers are essential since they bring in money. Without them, businesses would not continue to operate.
Is it the client or the client's?When referring to a single client, use the phrase "customer's" with a hyphen before the letter "s". When referring to many customers, use the word customers' with an apostrophe following the letter "s." If no possessive signal is required, refrain from using an apostrophe.
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General Information
CMS is not sure about how many active and passive patients they
have. The EFT device is only
used for payment. No bill is given to the customer, but a receipt
from the EFT device.
Answers
CMS lacks patient information. EFT device used for payment, providing receipts instead of bills. Need robust patient management system.
The healthcare facility, CMS, currently lacks accurate information regarding the number of active and passive patients they have. Additionally, their Electronic Funds Transfer (EFT) device is solely used for payment transactions. Instead of providing customers with a traditional bill, the facility issues a receipt directly from the EFT device. This practice suggests that the facility may not have a comprehensive billing system in place. Obtaining accurate data on the number of active and passive patients is crucial for effective management and resource allocation. Implementing a robust patient management system and integrating it with the billing process can streamline operations and provide better visibility into patient demographics and financial transactions.
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Which problem is more likely to affect a partnership than a corporation?
O A. It is overly expensive and complicated to get started.
O B. Shareholders may remove the owners from the company.
O C. There are too many legal regulations controlling the business.
O D. The business may end if one owner chooses to leave.
Answers
Answer:
D.The buisness may end...
Explanation:
Have an amazing day :)
The answer is Option D.
What is the main difference between a corporation and a partnership?In a partnership, co-owners report their share of the business's income and losses on their personal tax returns. A corporation, which is formed by filing articles of incorporation, is a legally separate business entity owned by shareholders. An elected board and board-appointed officers manage the corporation.
What is a disadvantage of a corporation compared to a partnership?Corporations cost more to set up and run than a sole proprietorship or partnership. For example, there are the initial formation fees, filing fees, and annual state fees. These costs are partially offset by lower insurance costs. Formal organization and corporate formalities.
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What if this website was a dating and show yourself and butt app/website?
Answers
hi guys um so i need help with ur mom lol hahahaha