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2 years ago

What are the three methods of calculating balance charges on credit cards?.

Business

1 answer:

Rama09 [41]2 years ago

5 0

The three methods of calculating balance charges on credit cards are:

previous balance method.

average daily balance method (excluding and including newly billed purchases.

adjusted balance method.

<h3>How can we calculate a credit card balance ?</h3>

Calculation of the credit balance can be done generally by dividing the average daily balance totals by the total number of days in the billing cycle.

Then the result is then multiplied by the monthly interest rate, however all the listed method can as well be used.

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Are outstanding credit card balances counted as part of the money supply?

V125BC [204]

<span>Credit card balances are not counted as part of the money supply, because c</span>redit card balances reflect funds that have been borrowed. Unlike money, they cannot be used as a means of payment. The M1 supply contains <span>coins, paper currency, demand deposits, other checkable deposits, and traveler's checks. So, o</span>utstanding balances on credit cards is not a component of the M1 money supply.

3 0

3 years ago

It is important for a good economic model to predict cause and effect so that it can?

olya-2409 [2.1K]

The ability to forecast cause and effect is crucial for a solid economic model since it enables it to both explain past events and foresee potential future ones.

A model of the economy's importance

Its main goal is to describe and examine the prices and volume sold in a market that is competitive. In relation to price and other factors, the equations of the model define the level of supply and demand (for example, income).

What conclusions do economic models draw?

A simplified representation of reality, an economic model enables us to observe, comprehend, and forecast economic phenomena. A model's goal is to simplify a complex, real-world scenario so that only the most important elements remain.

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3 0

2 years ago

Blockchain technology is an emerging technology with potential applications in logistics, distributed ledgers, social media, fin

icang [17]

Answer:

Opportunity

Explanation:

In the SWOT analysis, external events are classified as either Opportunities or Threats, while internal events are classified as either Strenghts or Weaknesses.

In this case, we find that Blockchain is a technology that is external to IBM, and that IBM has the technological capita, and know-how, to enter this market and develop its own version of Blockchain. For this reason, the growth of Blockchain technology represents an opportunity for IBM.

7 0

3 years ago

According to the law of supply what's the result of an increase in the supply of workers for a job if all other factors remain e

Roman55 [17]

Answer:

According to the law of supply, an increase in the supply of workers for a job if all other factors remain equal means the company wants to be efficient and it is also proof that the company is making more profit which signals the demand for the commodities they produced as increased drastically.

Explanation:

The law of supply work in the dimension of price, the number of goods available in the market, and it is hugely affected by demand. Now, when the price of goods decreases, it makes production by producers decrease as well and staffs are also laid off to avoid profit loss by the producers. This changes when the price of commodity increases as it makes producers of the commodity have the capacity to employ more staff to maximize time and this also causes the producers to increase sales. However, the higher demand for a commodity would also increase the supply of that commodity.

6 0

3 years ago

Telecomp is a U.S.-based manufacturer of cellular telephones. It is planning to build a new manufacturing and distribution facil

neonofarm [45]

Answer:

a. Maximin = 19.0

b. Minimax = 17.6

c. Hurwicz ( 0.40) = Taiwan

d. Equal likelihood = Taiwan

Explanation:

Remember, we are told to: Note that since the payoff is cost, the maximax criteria becomes minimax and maximin becomes minimax

a) Maximin: Since the payoff is cost, we begin by determining the maximum cost for each alternative and then selecting the one which gives the minimum of these maximums. (minimax)

b) Minimax: Since the payoff is cost, we begin by determining the minimum cost for each alternative and then selecting the one which gives the maximum of these minimums. (maximin).

c) Hurwicz (0.40): In this method, we add and multiply each payoff value by alpha (0.4).

South Korea = 15.2 (0.4) + 21.7 (0.6) = 19.1 ( remember, in $ millions)

China = 17.6 (0.4) + 19.0 (0.6) = 18.44

Taiwan = 14.9 (0.4) + 19.2 (0.6) = 17.48

Poland = 13.8 (0.4) + 22.5 (0.6) = 19.02

Mexico = 12.5 (0.4) + 25.0 (0.6) = 20

From the values above we select the minimum outcome since the company is looking at saving cost. Which is Taiwan; having the lowest cost of $17.48 million.

d) Using the formula $\frac{P_{1} +P_{2}+P_{3}...P_{n} }{n}$ where P = payoffs value, n = number of events.

South Korea = 15.2 + 21.7 + 19.1 /3 = 18.66

China = 17.6 + 19.0 + 18.5 /3 = 18.36

Taiwan = 14.9 + 19.2 +17.1 /3 = 17.06

Poland = 13.8 + 22.5 + 16.8 /3 = 17.7

Mexico = 12.5 + 25.0 + 21.2 /3 = 19.56

Taiwan should be selected since it has the lowest cost of $17.06 million.

4 0

3 years ago