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3 years ago

What are the benefits of using a credit card? What are the drawbacks of using a credit card?

2 answers:

6 0

Benefits: You do not have to carry large amounts of cash with you

drawbacks: You have to pay interest rates
it is technically a loan

hope this helps

Usimov [2.4K]3 years ago

4 0

The benefits is that you don't have to carry too much money with you is pretty simple you just swipe your card everywhere you go and is more safer that money. is somebody steals you card you call immediately and tell them to cancel your account. Drawbacks: is that if you don't have enough money on your back account and for example you go to a store and buy something more expensive thatn what you have in you account. that's called overdraft and you will be charge extra money for borrowing the banks money.

You might be interested in

Weightman Corporation's net operating income in Year 2 was $76,385, net income before taxes was $55,385, and the net income was

muminat

Answer:

11.00

Explanation:

$Earnings \: per \: share = \frac{net \: income}{shares}$

36,000 net income

200,000 common stock / $4 per share= 50,000 shares

36,000 / 50,000 = 0.72 earnings per share

$price-earnings \: ratio = \frac{market\: price}{EPS}$

7.92 / 0.72 = 11

5 0

3 years ago

On January 1, 2020, Bonita Company purchased 12% bonds, having a maturity value of $320,000 for $344,260.74. The bonds provide t

Delvig [45]

Answer:

Following are the responses to the given points:

Explanation:

For point a:

Criteria I

Date: 1-1.2020 Debt Investments $\$3,44,260.74$

cash $\$3,44,260.74$

For point b:

Criteria II

Date: 31.12.2020 Interest Account receivable to pay $\$38,400.00 \ \ \ \ \ \ \ \ \ \ 320000\times 12\%$

Debt Investments $\$3973.93$

rate of Revenue $\$34,426.07(\$344,261.74 \times 0.10)$

31.12-2020 Fair Value Adjustment $1713.19$

Gain or loss - equity unrealized holding $1713.19$

for point c:

Criteria III

31.12-2021 Interest Account receivable to pay $\$38,400$

Debt Investments $\$4,371$

rate of Revenue $\$34,029$

31.12-2021 Gain or loss - equity unrealized holding $\$7,927.69$

Fair Value Adjustment $\$7,927.69$

$329700-335914.50=6214.50+1713.19 =7,927.69$

Please find the attached table.

8 0

3 years ago

Jacob Corcoran bought 10,000 shares of Grebe Corporation stock two years ago for $24,000. Last year, Jacob received a nontaxable

dezoksy [38]

Answer:

Jacob purchased 10000 shares form Grebe corporation two years ago for $24000

last year Jacob received a non taxable stock dividend of 2000 shares from Grebe corporation

In the current year tax year Jacob sold all stock received as dividend that's 2000 shares for $18000

The gain of the sale of 2000 shares can be calculated by subtracting the basis in the shares from the cost price. the cost of shares = ( $24000 / 12000 ) = $2 per share

profit made from the sales of 2000 shares is calculated as follows ; selling price ( $18000 ) - cost price of 2000 shares ( $2 * 2000) , the profit is $14000 and it is in the long term because the original shares bought has been held for at least 1 year

Explanation:

Jacob purchased 10000 shares form Grebe corporation two years ago for $24000

last year Jacob received a non taxable stock dividend of 2000 shares from Grebe corporation

In the current year tax year Jacob sold all stock received as dividend that's 2000 shares for $18000

The gain of the sale of 2000 shares can be calculated by subtracting the basis in the shares from the cost price. the cost of shares = ( $24000 / 12000 ) = $2 per share

8 0

3 years ago

2. Sorry, you didn't win the lottery, but here's a way you can still be a millionaire! Starting at age 22, every night you take

Colt1911 [192]

Answer: At the age of 65 the money will be $90337.5

Explanation: There are 365 days in a year take $5 multiply it by 365 to get the money after one year then multiply it by 10 % to get an interest per year. Add the interest to the amount then multiply by 43 years.

Note 65years-22 years = 43 years

$5×365= $1825

$1825×10%=$182.5

=$182.5+$1825=$2007.5/year

$2007.5×43= $90337.5

8 0

3 years ago

The more data you can collect and analyz,the more accurately you can predict the probability of various destructive event

vampirchik [111]

True

Larger sample size equals more accuracy

7 0

3 years ago