All categories

3 years ago

How much will be paid in fees if a late payment is made??

1 answer:

4 0

If you’re lucky, the lender won’t report that you were late. “The first thing to note is that most lenders do not report missed payments until the account is 30+ days past due,” says Anthony Sprauve, director of public relations for MyFico.com. “Suppose a given credit card payment is due on May 15th (and) the payment is made on May 25th. Technically the payment is late, and fees and interest charges may apply. But in most cases, this late payment would not be reported by the creditor to the credit reporting agencies (CRAs).”

Or it’s possible your lender may overlook for the transgression. Steve Ely, president of eCredable.com, adds: “The larger creditors (like credit card companies) usually have sophisticated analytic models working behind the scenes that take into account your history of payments. If you’ve been paying on time for a long time, they’re likely to forgive your one late payment, and let it slide.”

You might be interested in

Product, price, place, and promotion are the four elements in the

statuscvo [17]

Answer: Marketing Mix

Explanation:

6 0

3 years ago

The following credit sales are budgeted by Swifty Corporation:

Genrish500 [490]

Answer:

$458,000

Explanation:

April

$460,000 x .70 = $322,000

March

$520,000 x .2 = $104,000

February

$400,000 x .08 = $32,000

Addition of APRIL+MARCH+FEBRUARY

$322,000 + $104,000 + $32,000

= $458,000

Therefore the anticipated cash inflow for the month of April is $458,000

3 0

3 years ago

Mullineaux Corporation has a target capital structure of 64 percent common stock, 9 percent preferred stock, and 27 percent debt

nlexa [21]

Answer:

10.02%

Explanation:

The computation of the WACC is shown below. The formula of WACC is shown below:

= (Weightage of debt × cost of debt) + (Weightage of preferred stock) × (cost of preferred stock) + (Weightage of common stock) × (cost of common stock)

= 27% × 7.6% × (1 - 0.40) + 9% × 5.9% + 64% × 12.9%

= 2.052% × (1 - 0.40) + 0.531% + 8.256%

= 10.02%

8 0

4 years ago

Last year Harrington Inc. had sales of $325,000 and a net income of $17,000, and its year-end assets were $230,000. The firm's t

choli [55]

Answer:

13.44%

Explanation:

Debt to total assets = Total Debt / Total Assets

45% = Total debt / $230,000

Total Debt = $230,000 x 45% = $103,500

As we know

Assets = debt + Equity

$230,000 = $103,500 + Equity

Equity = $230,000 - $103,500 = $126,500

Return on Equity is the measure of financial performance which can be calculated by dividing net income for the year by total shareholder's equity.

Return on equity = Net income for the year / Shareholders equity

ROE = $17,000 / $126,500 = 0.1344 = 13.44%

6 0

3 years ago

Kray Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of u

Allushta [10]

Answer:

The variable costing unit product cost was $69.

Explanation:

Variable Product Costing is a situation whereby only the variable costs of production is taking into account to estimating the cost per unit of a product. This implies that none of the fixed cost will be included in the cost of the product.

Based on the explanation above, the variable costing unit product cost to produce a single product by Kray Inc. can be calculated as follows:

Kray Inc.

Calculation of Variable Costing Unit Product Cost

Particulars Amount ($)

Direct materials 40

Direct labor 19

Variable manufacturing overhead 8

Variable selling and administrative expense 2

Variable cost per unit  69 

Therefore, the variable costing unit product cost was $69.

5 0

3 years ago