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Vilka [71]
3 years ago
7

Andy has a remaining unpaid balance of $845 on his credit card. His credit card company has an APR of 18 percent. How much will

Andy pay in interest for one month?
$12.68
$152.10
$15
$1.25
Business
2 answers:
Phoenix [80]3 years ago
6 0
Interest paid
Unpaid balance×APR×(1/12months)

Interest paid=
845×0.18×(1÷12)
=12.68

So the answer is a

Hope it helps!
FrozenT [24]3 years ago
4 0

Answer:

$12.68

Explanation:

Interest is calculated using the formula below. As the consideration for this question is a single month, compounding interest does not need to be considered:

I = P(1+rt)-P

where I is interest, P is the principal amount, r is the interest rate and t is the time of investment

APR is converted to monthly interest rate by dividing by 12 (for the number of months).

P = $ 845

r = 18% annually = 1.5% monthly

t = 1 month

I = P(1+rt)-P

I = 845*(1+0.015*1)-845

I = 845*(1.015)-845

I = 857.675-845

I = 12.68

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Answer:

The statement which is false is D) .

Explanation:

Income statement helps in assessing the current and past performance of the company, it also helps in predicting the future performance and in assessing the risk present in future in obtaining cash flows. Income statement are prepared through two methods either single step format ( which is used by sole proprietor and partnership firms ) or multi step format ( used by corporations ) .

In the single step format , all the income items are group together and are subtracted from the total cost, while in multi step format , a company breaks all the sources from where the revenues and cost have come, it is used to take out various measures like gross profit, operating profit etc.

A common size statement is one of the type of income statement where each account item is represented as a percentage of total sales value.

Option D is false because discounted operations and extraordinary transactions appear on both the single step and multi step format , these transactions are written as written as footnote below the statement.

5 0
3 years ago
FocusPro, a marketing communications and strategy consulting firm, is assisting a client to understand the effects of promotiona
Tcecarenko [31]

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A) experimental

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2 years ago
Bessie is at the grocery store and is trying to remember some of the things she needs to buy. She is in the cleaning products ai
Anna007 [38]

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These expenditures were incurred by Carla Vista Co. in purchasing land: cash price $61,440, accrued taxes $4,720, attorney’s fee
ludmilkaskok [199]

Answer:

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Explanation:

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  • Original cost is the total price associated with the purchase of an asset.
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Hope this helps and is what you were looking for 

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