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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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Which of the following statements regarding PERT analysis is true? a. Each activity has two estimates of its duration. b. Projec
olganol [36]

Answer:

It's c.

Explanation:

Program Evaluation and Review Technique (PERT) is a method used in program management. It analyzes the time required to complete each task in a project and so tries to determine the minimum time to complete a project. It was developed by the US Navy in 1957.

In PERT analysis:

  • there are 3 time estimates for every activity: optimistic, pessimistic, and most likely
  • you have to find the Critical Path. The Critical Path is the longest path of scheduled activities that must be met in order to execute a project.  It is important to know because any problems on the critical path can prevent a project from moving forward and be delayed. Therefore only critical activities can contribute to the project variance.
8 0
2 years ago
Nadine is retiring today at age 66 and expects to live to age 82. She has $136,000 in her retirement savings account. She is som
Natali [406]

Answer:

$1,103.56

Explanation:

In this question, we use the PMT formula that is shown in the attachment. Kindly find it below:

Provided that

NPER = (82 - 66) × 12 = 192

Present value = $136,000

Future value = $0

Rate of interest = 6% ÷ 12  months = 0.5%

The formula is shown below:

= PMT(Rate;NPER;-PV;FV;type)

The present value come in negative

So, after solving this, the monthly payment is $1,103.56

6 0
3 years ago
1. Andy works as a sales associate in a department store. His supervisor gave him a sales goal of 10,000 suits for the year.If A
Iteru [2.4K]
I think D the sales associate performance
Hope this helps :/ :)
7 0
3 years ago
Concession Supply sells hotdogs, buns, and nacho ingredients to several major league ballparks across the country. Currently, Co
Vesnalui [34]

Answer:

1. 120 hot dogs per day

2. $1,920

3. Inelastic

4.200

Explanation:

1. Break even is a term given to a situation where there is no profit or loss made by an organization for product sales.

Formula is;

Fixed cost /contribution per unit, where contribution per unit is selling price - variable price.

Solution.

Since Total fixed cost =$1,200, Selling price=$16, Variable costs=$6

=Fixed costs/(Selling price - Variable costs).

= $1,200/($16 - $6)

=$1,200/$10

=120 hot dogs.

2. Break even point in dollar sales volume. This refers to the number of products that would be produced and sold to cover production cost.

Formular is ;

Fixed cost/contribution per unit× Sales price per unit.

Solution

=Fixed costs/(Selling price - Variable costs)× Selling price.

=$1,200/($16 - $6)×$16

=$1,200/$10×$16

=$1,200×$16/$10

=$19,200/$10

=$1,920

3. The demand would be inelastic. Inelastic demand is when the demand of buyers does not change as much as changes in price.

4. Achieve level of sales target. This is when management wanted to know the sales level at which targeted profit will be achieved.

Formula

Fixed costs + Target profit/Contribution per unit

Solution.

=Fixed costs + Target profit/(Selling Price - Variable costs)

= $1,200 + $800/($16-$6)

=$1,200 + $800/($10)

=$2,000×/$10

=$200

=200 cases would needed to sell

6 0
3 years ago
Miley, a single taxpayer, plans on reporting $31,375 of taxable income this year (all of her income is from a part-time job). Sh
notsponge [240]

<u>Answer:</u>$1,825

<u>Explanation:</u>

Based on the single tax rate schedule, of the additional $10,900 of taxable income, $9,000 is taxed at 15% (the increase $31,375 to $42,275) and the remaining $1,900 ($38,650 minus $37,650) is taxed at 25%. To summarize, ($9,000 × 15%) + ($1,900 × 25%)

= $1,350+$475

=$1,825

The income tax from second job increases her tax liability by $1,825.

7 0
2 years ago
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