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spayn [35]
3 years ago
10

Lenders always accept applications for credit.

Business
2 answers:
Nikitich [7]3 years ago
8 0

Explanation:

Lenders always accept applications for credit.

False. Lenders analyze the client's ability to make the payment, noting some variables such as income, past payments, etc. This way, not everyone can get credit.

Credit cards all use the same interest and finance charges.

True. A credit purchase tends to cost more than paying cash. This is because credit purchases affect the amount of interest, increasing the value of the product.

Credit cards all use the same interest and finance charges.

False. Interest and finance charges depend on several variables. It depends on the customer and their financial history, ie the risk factor, their income etc. In addition, there are differences in interest charged by the different institutions.

One advantage of credit is that it can give you a “float” time between buying the product and when you need to pay for it.

True. The credit increases the time to make the payment. Thus, the payment is not made at the time of purchase, making it an advantage for those who want to make a purchase and has no resources at that time.

Rasek [7]3 years ago
6 0
Lenders always accept applications for credit.False

Credit tends to cost individuals more than paying in cash.
True 

Credit cards all use the same interest and finance charges.
False

One advantage of credit is that it can give you a “float” time between buying the product and when you need to pay for it. 
True

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Christina purchased 500 shares of stock at a price of $62.30 a share and sold the shares for $64.25 each. She also received $738
Gnesinka [82]

Answer:

1.60 percent

Explanation:

exact real rate of return on this investment = interest rate - inflation rate

total revenue gotten by Christina = ( 500 × $ 64.25) + $ 738 = $ 32863

total money invested = 500 × $ 62.30 = $ 31150

her profit =  $ 32863 - $ 31150  = $ 1713

interest =  $ 1713 / $ 31150 = 0.054992 × 100 = 5.4992 %

exact interest rate = 5.4992 %  - 3.9% = 1.5992 approx 1.60 percent

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3 years ago
The balance in retained earnings on December 31, 2017, was $1435000 and on December 31, 2018, it was $1160000. Net income for 20
Inessa [10]

Answer:

b. $556,000.

Explanation:

Retained Earning is an account where all the earnings of the company accumulate and dividend is also paid from this account because it represents the amount the earning associated with the stockholders of the company.

December 31, 2018 Balance of Retained Earning = December 31, 2017 Balance of Retained Earning + Income for the year - Dividend Paid / Declared during the year.

$1,164,000 = $1,440,000  + $1,000,000 - Dividend Paid / Declared during the year.

$1,164,000 = $2,440,000 - Dividend Paid / Declared during the year.

Dividend Paid / Declared during the year = $2,440,000 - $1,164,000

Dividend Paid / Declared during the year = $1,276,000

Stock Dividend Paid - $500,000 + $220,000 = $720,000

Cash Dividend Paid = $1,276,000 - $720,000 = $556,000

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I had put my answer as A on the test and got it wrong. But this is the correct answer C.

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