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Sergio [31]
2 years ago
8

Bradley currently has a Visa card from his bank with the following terms: 21 percent on purchases, 25 percent on cash advances w

ith a 3 percent cash-advance fee on the amount, and a default or penalty rate of 33 percent. His current statement shows a balance of $9,000. Lately, he has been having a hard time paying more than the minimum payment of 3 percent of his balance. What is the current APY on this credit card
Business
1 answer:
kakasveta [241]2 years ago
8 0

Complete question:

Bradley currently has a Visa card from his bank with the following terms: 21 percent on purchases, 25 percent on cash advances with a 3 percent cash advance fee on the amount, and a default or penalty rate of 33 percent. His current statement shows a balance of $9,000. Lately, he has been having a hard time paying more than the minimum payment of 3 percent of his balance.

What is Bradley's minimum payment?

A) $158

B) $189

C) $270

D) $1,890

Answer:

Bradley's minimum payment is (C) $270.

<h3>What is the percentage?</h3>
  • A percentage is a fraction of a whole expressed as a number between 0 and 100.
  • Nothing is zero percent, everything is 100 percent, half of everything is fifty percent, and nothing is zero percent.
  • To calculate a percentage, divide the share of the total by the total and multiply by 100.
<h3>Solution -</h3>

Given - 21 percent on purchases, 25 percent on cash advances with a 3 percent cash advance fee on the amount, and a default or penalty rate of 33 percent. His current statement shows a balance of $9,000. Her minimum payment is 3 percent of the balance.

So, to find the minimum payment find 3% of $9000.

3% of $9,000 = $270.

Therefore, Bradley's minimum payment is (C) $270.

Know more about percentages here:

brainly.com/question/24304697

#SPJ4

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__________ provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions
S_A_V [24]

Answer:

Control

Explanation:

In this question, the question is talking about the marketing plan that consists of implementation, evaluation, and control

The implementation deals with the marketing strategies that are executed to achieve the goals and objectives of the business organization.

The evaluation is the judgment that is derived from the available resources through which can know the actual position of the organization

And, the control is the last step of the marketing plan through which the analysis could be made based on the organization's objectives.

4 0
3 years ago
Which of the following serves as an incentive for entrepreneurs in a market economy?
hram777 [196]

Answer:

<em>Entrepreneurs are people who take the risks of organizing productive resources to make goods and services. Profit is an important incentive that leads entrepreneurs to accept the risks of business failure.</em>

7 0
3 years ago
________ seeks to better run an organization using complete and accurate information and management processes or controls.
Paha777 [63]

Answer:

Governance

Explanation:

Governance is a systematic way of how power is exercised for effective management of state/country economy and social resources for development of the state. Governance involved establishing policies and complete monitoring of the policies by the government using all legal tools permitted by the constitution of the state/country to seek accurate information and management control of resources in other to deliver good governance for the betterment of the people.

8 0
3 years ago
Read 2 more answers
Bond Valuation and Changes in Maturity and Required Returns Suppose Hillard Manufacturing sold an issue of bonds with a 10-year
g100num [7]

Answer:

It will be sold at $1,186.71

Explanation:

We will calculate the present value of the cuopon payment and the maturity at the new market rate of 7%

<u>The coupon payment will be calcualte as the PV of ordinary annuity</u>

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C $50 (1,000 x 10%/2 as there are 2 payment per year)

time    16 (8 years x 2 payment per year)

rate     0.035 (7% rate / 2 payment per year)

50 \times \frac{1-(1+0.035)^{-16} }{0.035} = PV\\

PV $604.7058

<u>The maturity will be calculate as the PV of a lump sum</u>

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity  1,000.00

time         8 years

rate  0.07

\frac{1000}{(1 + 0.07)^{8} } = PV  

PV   582.01

<u>The market price will be the sum of both:</u>

PV cuopon $604.7058

PV maturity  $582.0091

Total $1,186.7149

6 0
3 years ago
Alicia deposited $400 in the bank. The bank paid her simple interest at the rate of 5 percent per year. How much money will she
algol13

Using simple interest, she will have $410 at the end of six months.

Principle = $400

Rate = 5%

Time equals 6 months, or 0.5 years.

Simple interest is equal to PRT/100.

S.I. = 400*5*(1/2)/100

S.I. = 10

Consequently, $400 plus $10 equals $410.

<h3>What is simple interest?</h3>

To calculate the amount of interest that will be charged on a loan, use the quick and easy formula known as simple interest. For the purpose of calculating simple interest, the daily interest rate, the principal, and the number of days between payments are multiplied.

A loan's principal or the first deposit into a savings account serves as the basis for simple interest. Because simple interest doesn't compound, a creditor would only pay interest on the principal sum, and a borrower will never have to pay interest on the interest that has already accrued.

Learn more about simple interests, from:

brainly.com/question/25845758

#SPJ1

6 0
10 months ago
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