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Doss [256]
3 years ago
15

Which payment method typically charges the highest interest rates? ACredit cards BCashier's checks CPre-paid cards DPayday loans

Business
2 answers:
lord [1]3 years ago
6 0
The answer is D. Payday Loans

Both credit cards and payday loans have a high interest rates, but payday loans seems a little bit higher

Credit Cards interest Rates in U.S : 7 - 36 %
Payday Loans : 12 - 30 %
lys-0071 [83]3 years ago
5 0

<u>Option (d) is correct. Payday loans typically charges the highest interest rates. </u>

Further Explanation:

Payday loans:

Payday loans are short-term in nature and has a high interest rate. These loans are granted in a very short period of time and the borrower pays when he/she gets his/her next paycheck. These kind of loans charge high interest rate because they are granted very quickly. The loan amount does not exceed the salary of the borrower.

Justification for the correct and incorrect options:

a.

Credit card: This is an incorrect option.

Credit card charges interest but their rate of interest is lower than the payday loans.

b.

Cashier's checks: This is an incorrect option.

Cashier’s check does not charge interest but charges a small amount of fee.

c.

Pre-paid cards: This is an incorrect option.

Pre-paid cards does not charge interest.

d.

Payday loans: This is the correct option.  

Payday loans charges high interest for a short-term loan.

Learn more:

1. Learn more about the money owed to the credit card company

<u>brainly.com/question/8750254 </u>

2. Learn more about the common credit card fee

<u>brainly.com/question/1124275 </u>

3. Learn more about making an on-time minimum payment of credit card

<u>brainly.com/question/6453895 </u>

<u> </u>

Answer details:

Grade: Senior School

Subject: Business Studies

Chapter: Money and Banking

Keywords: payment, method, typically, charges, highest, interest, rates, credit cards, cashier's checks, pre-paid cards, payday loans.

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Gunst Company produces three video games: Android, Bio-Mutant, and Cyclops. Cost and revenue data pertaining to each product are
Dima020 [189]

Answer:

Gunst should produce 500 Bio-mutant games:

  • total contribution margin = $71 x 500 = $35,500

Explanation:

                                   Android          Bio-mutant          Cyclops

selling price                  $100                 $107                   $125

labor                               $48                  $24                     $60

direct materials               $9                    $8                       $16

variable overhead          $7                     $4                        $9

contribution margin      $36                   $71                      $40

labor hours                        4                       2                          5

Bio-mutant generates by far the largest contribution margin and requires the least direct labor hours.

Gunst should produce 500 Bio-mutant games:

  • total revenue = $107 x 500 = $53,500
  • total contribution margin = $71 x 500 = $35,500

If it produces 250 Android games its total contribution margin will = $9,000

If it produces 200 Cyclops games its total contribution margin will = $8,000

7 0
3 years ago
Gary’s Company produces high quality shirts. Shirts must be well made because of frequent washings. Currently, Gary sells 10,000
grin007 [14]

Answer:

Unless the capacity is expanded or some of the production gets outsource, the offer is not convenient.

Explanation:

Giving the following information:

Currently, Gary sells 10,000 shirts at $60 each with the capacity to produce 11,000 shirts. Gary is considering a special order for 1,800 shirts for $40.

Gary has the following costs:

Unit Costs $200,000

Facility Costs $140,000

If Gary accepts the special order, they will incur an additional $2 per shirt in foreign currency transaction costs.

Because it is a special offer and there is unused capacity, we will not have into account the fixed costs.

variable cost per unit= (200,000/10,000) + 2= $22

Effect on income= (40 - 22)*1,800= $32,400

We have to take into account the loss of not selling 1,000 units.

Effect on income= 1,000*40= $40,000

Total effect= 32,400 - 40,000= $7,600

Unless the capacity is expanded or some of the production gets outsource, the offer is not convenient.

6 0
3 years ago
When quantifying country risk:
Simora [160]

Answer:

The correct answer is b.weights should be assigned to the political and financial factors according to their perceived importance.

Explanation:

The determination of risk certifications that are taken into account for investment in a country, takes into account fundamental factors that ensure a sustained and less restrictive operation over time, which is directly related to the decisions made by politicians and banks already which are the sectors directly involved in an investment decision. Other important factors are usually located in citizen security, access to ports and airports, etc.

6 0
3 years ago
What is the maximum amount you would pay for an asset that generates an income of $250,000 at the end of each of five years, if
Serggg [28]

250,000/1.08 + 250,000/1.08^2 + 250,000/1.08^3 + 250,000/1.08^4 + 250,000/1.08^5 = $998,177.51 is the correct answer

<h3>What is an asset?</h3>

An asset is a resource having economic worth that a person, organization, or nation owns or manages with the hope that it may someday be useful.

The balance sheet of a business lists assets. They are divided into four categories: tangible, financial, fixed, and current. They are acquired or produced in order to raise a company's value or improve the operations of the company.

Whether it's manufacturing equipment or a patent, an asset can be viewed of as anything that, in the future, can generate cash flow, lower expenses, or increase sales.

An asset is anything that can increase sales, lower costs, or generate cash flow, whether it be a patent or manufacturing equipment.

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brainly.com/question/14404094

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3 0
1 year ago
The sentence, "our company experienced an increase in profits during the last fiscal year," uses precise vigorous wording.
ZanzabumX [31]

Answer:

The statement is: False.

Explanation:

Vigorous wording refers to the act of making information appear more than what it really is, in some cases exaggerating the attention in one point or another. The phrase:

"<em>our company experienced an increase in profits during the last fiscal year</em>";

provides direct, objective information about an event that happened. There are not adjectives that might distort the main message that is intended to be provided.

8 0
3 years ago
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