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anzhelika [568]
1 year ago
14

Jerrod owes $2000 on a credit card that charges him an annual percentage rate of 18%. If jerrod stopped making payments, how lon

g would it be before the balance on his credit card reached $4000?.
Business
1 answer:
sp2606 [1]1 year ago
7 0

It will take Jerrod 4 Years and 2 months to get his balance on his credit card $4000

In this question, it is stated that Jerrod owes $2000 on a credit card that charges him an Annual interest of 18%. If he stops making payments we have to find out how much time will it take for Jerrod to get his credit card balance to $4000.

Taking the annual interest rate of 18%,

first year's due payment will be => 2000 + (18*2000)/100 = $2360

Similarly, second year's due payment => 2360 + (18*2360)/100 = $2784.80

third year, the due payment will be => 2784.80 + (18*2784.80)/100  = $3286

Forth year, due payment => 3286 + (18*3286)/100 = 3877.48

At the beginning of the fifth year approximately 2 months the due payment will reach $4000.

Hence, it will take 4 years and 2 months for the amount to reach $4000.

To know more about Interest Calculation, Click here:

brainly.com/question/6956078

#SPJ4

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A customer called his registered representative to place a trade to buy 100 shares of ABC. The customer wants to put a limit on
DiKsa [7]

Answer:

unsolicited trade

Explanation:

In this scenario, the trade that was made would be considered an unsolicited trade. This is mainly due to the customer having called the representative telling him to place the trade and buy the 100 shares of ABC stock. Therefore, this trade was ultimately the idea of the investor (customer) in this scenario and not the representative's idea. That would make this trade fall into the category of an unsolicited trade. If the idea was initially the representative's and he was the one to mention the trade to the client then it would have been a solicited trade, but this is not the case.

7 0
3 years ago
Which of the alternatives to the modern theory of the firm holds that managers attempt to meet some goal that is defined in term
Schach [20]

Answer:

C. Satisficing model

Explanation:

Satisficing model aims at reaching and receiving the results which makes the desired person satisfied with the results.

It basically provides the company and its management to not only find an optimal solution but a solution which is satisfying for the management.

Thus, in the given instance management sets a prescribed percentage as results they desire for sales, and related profit which further results in desired level of growth.

Thus, this is about satisfactory results that is Satisficing model.

6 0
2 years ago
The following are data concerning cash received or paid from various transactions for Orange Peels Corporation: Sale of land $10
vichka [17]

Answer:

A. $190,000

Explanation:

The breakdown analysis of Balance Sheet and Income Statement in terms of Cash in the form of Operating, Investing and Financing activities is known as Cash Flow Statement or the Statement of Cash Flows.

In Investing Activities Cash Flow we simply add Cash Proceeds from the sale of assets and subtract any proceeds from the purchases. The difference between the two is called Cash Flow from investing activities and it how much cash surplus or deficit we have from Investing Activities of Cash.

In the Statement of Cash Flows calculating Net Cash provided by investing activities is simple. Simply add Sale of Land, Sale of Equipment and Issuance of Common Stock. Subtract Purchase of Equipment from it and you will get the Net Cash Flow from Investing Activities.

Payment of Cash Dividend is the Financing Activities item so will not be taken into consideration in Investing Activities Cash flow as follows:

(+) Sale of Land $100,000

(+) Sale of Equipment $50,000

(+) Issuance of Common Stock 70,000

(-) Purchase of Equipment $30,000

NET CASH FLOW from INVESTING ACTIVITIES $190,000

4 0
2 years ago
Barrington Corporation paid $26,000 to have bond certificates printed and engraved, $100,000 in legal fees, and $8,000 to a CPA
algol [13]

Answer:

The bond's issue costs is $364000

Explanation:

The issue costs of the debt financing is listed below:

Payment for printing and engraving $26000

Legal fees                                            $100000

Professional fees                                  $8000

Underwriter's spread                          <u> $230000</u>

Total issue costs                                  <u> $364000</u>

All the above highlighted costs are relevant to the bond's issuance ,hence they are added up in arriving at the bond's issuance costs.

The spread between the payment by the underwriter and the retail price is essential so as to ensure the number of bonds planned can be sold quickly.

It is more like the payment to the underwriter to underwrite and ensure everything is sold.

3 0
3 years ago
A number of positioning strategies might be employed in developing a promotional program. David Aaker and J. Gary Shansby discus
BaLLatris [955]

where is the answer child

7 0
3 years ago
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