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3 years ago

What should a consumer consider when shopping for a credit card? Check all that apply.

Business

2 answers:

Advocard [28]3 years ago

6 0

Answer:

The answers are 2,3,5 on Edge

vfiekz [6]3 years ago

4 0

The factors that a consumer should check for while shopping for credit card are:
1. The initial fees to open the account.
2.The fees charged for late payment.
3. The annual percentage rate for the card.
One need to get these information and compare the values among different banks in order to be able to choose one that will be suitable for one's needs.

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Your friend, Alicia, is a graduating senior about to head to college in the fall. Alicia has a single checking account and is ea

kvv77 [185]

Answer:

It is good

Explanation:

Alicia would have an easier time splitting money and saving money towards different goals. Such as putting 40% of your paycheck into savings and splitting the 40% into 10% for each savings account.

6 0

3 years ago

What economic system interferes most with the law of supply and demand?

Roman55 [17]

Market economy and free enterprise

4 0

3 years ago

Good friends, bernie and latasha, both studied accounting in college. recently, they decided to work together as co-owners of a

-BARSIC- [3]

This is an example of a partnership

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3 years ago

You want to buy a new car, but you can make an initial payment of only $1,200 and can afford monthly payments of at most $850. a

Leviafan [203]

Answer:

a. The maximum price you can pay for the car is $33,477.87.

b. The maximum price you can pay for the car is $39,411.78.

Explanation:

a. If the APR on auto loans is 12% and you finance the purchase over 48 months, what is the maximum price you can pay for the car? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

This can be determined as follows:

Calculation of the Present Value (PV) of the monthly payments

To calculate, the formula for calculating the present value of an ordinary annuity is used as follows:

PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)

Where;

PV = Present value of the monthly payments = ?

P = Monthly payment = $850

r = monthly interest rate = annual percentage rate (APR) / 12 = 12% / 12 = 1%, or 0.01

n = number of months = 48

Substitute the values into equation (1) to have:

PV = $850 * ((1 - (1 / (1 + 0.01))^48) / 0.01)

PV = $850 * 37.9739594934803

PV = $32,277.87

Calculation of the maximum price you can pay for the car

Given in the question is initial payment of only $1,200.

The present value of the monthly payments calculated above is $32,277.87.

Therefore, we have:

Maximum price = Initial payment + Present value of the monthly payments = $1,200 + $32,277.87 = $33,477.87

Therefore, the maximum price you can pay for the car is $33,477.87.

b. How much can you afford if you finance the purchase over 60 months? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

This can also be determined as follows:

Calculation of the Present Value (PV) of the monthly payments

To calculate this, we use equation (1) in part (a) above, change number f months to 60 and proceed as follows:

PV = Present value of the monthly payments = ?

P = Monthly payment = $850

r = monthly interest rate = annual percentage rate (APR) / 12 = 12% / 12 = 1%, or 0.01

n = number of months = 60

Substitute the values into equation (1) to have:

PV = $850 * ((1 - (1 / (1 + 0.01))^60) / 0.01)

PV = $850 * 44.9550384062241

PV = $38,211.78

Calculation of the maximum price you can pay for the car

Given in the question is initial payment of only $1,200.

The present value of the monthly payments calculated above is $38,211.78.

Therefore, we have:

Maximum price = Initial payment + Present value of the monthly payments = $1,200 + $38,211.78 = $39,411.78

Therefore, the maximum price you can pay for the car is $39,411.78.

5 0

2 years ago

Direct materials inventories are kept in pounds for Cat Company, and the total pounds needed for production in the current perio

pychu [463]

Answer:

Purchase= 14,500 pounds

Explanation:

Giving the following information:

the total pounds needed for production in the current period is 14,000. Beginning inventory= 2,000 pounds

Desired ending inventory= 2,500 pounds

To calculate the direct material purchase, we need to use the following formula:

Purchase= direct material for the period + desired ending inventory - beginning inventory

Purchase= 14,000 + 2,500 - 2,000

Purchase= 14,500 pounds

8 0

3 years ago