The Internet standards allow for greater commerce because it helps guide the information and commerce paths as they grow and as we move more and more toward digital operations. If we didn’t have the IEEE or their standards we would have utter chaos when it comes to technology and the level of digital communication and use that we have today on such a coordinated scale simply wouldn’t be possible. It would be like trying to pour water down a platform into a cup a distance away (symbol of worldwide digital coordination). The water can go anywhere it wants to within these guidelines and in the end we end up with water in the glass (i.e. worldwide digital coordination). This allows for an exponential growth in technology worldwide.
To calculate the real price of the TV you would have to determine the present value of the TV's price. The future price of the TV is $1,000 and your discount rate is 4% annual (the same as your bank), so the present value of the TV =
present value = future value / (1 + rate) = $1,000 / 1.04 = $961.54
As per previous balance method the Interest is charged based on the opening balance of the Credit Card.
As $50 was the balance from previous month and opening balance for this month, Hence $50 would be the amount we would use to calculate the interest for this month.
