1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
emmasim [6.3K]
3 years ago
13

You owe $976.34 on a credit card that has an interest rate of 10.75% apr. you pay $100.00 at the end of each month. 3. calculate

the difference between the interest accrued by a $976.34 balance on the credit card and what $100.00 would earn in a savings account that has an interest rate of 2.75% apr over the span of one month.
Business
1 answer:
ELEN [110]3 years ago
3 0

your method was incorrect.

the correct answer is:

interest accrued per month: 976.34*10.75/100*1/12= $8.75

interest from savings account: $100 * 2.75/100 *1/12 = $.23

3.difference is: 8.75 - . 23= $8.52 (answer)

4. amount towards principal after $100 payment is ($100-$8.75)= $91.25(answer)

You might be interested in
Isabella wishes to buy gasoline and have her car washed. She finds that if she buys 9 gallons of gasoline at $1.50 per gallon, t
max2010maxim [7]

Answer:

50 cents

Explanation:

8 0
3 years ago
Read 2 more answers
The statement of owner's equity begins with the beginning balance followed by a.adding net income less withdrawals b.adding inve
ddd [48]

Answer:

D. Adding investments plus net income less withdrawals.

Explanation:

This statement is generally used to show the owners capital at the beginning of an investment period which is seen or said to affect or changes in balance sheet at a section termed to be the equity section. It is said to reveal and let a shareholder know the additional and subtractional changes that happens/happened in the shareholders account.

In some certain business kind which ranges from a sole proprietorship type of business to the others, movement in capital occurs as a result of some elements.

Therefore it is seen that net income less withdrawals and also investment adding is been seen after an investors equity statement in the beginning of account balancing.

6 0
3 years ago
Assume that the economy grows by 3 percent, total factor productivity grows by 2 percent, and the labor force grows at 2 percent
RideAnS [48]

Answer:

correct option is A. True

Explanation:

given data

economy grows = 3 percent

total factor productivity grows = 2 percent

labor force grows = 2 percent

labor contributes = 40 percent

stock of capital rise = 0.33 percent

solution

we apply here Economy growth % formula that is

Economy growth % = total factor productivity + labor contributes × labor force grows + ( 1- labor contributes ) stock of capital   .............1

put here value

3% = 2% + 40% (2%) + 60% C

3% = 2.8 + 0.6 × C

C = \frac{0.2}{0.6}  

C = 33.33 %

so given statement is true

3 0
3 years ago
Cheng builds replica miniature cabinets. His costs for each cabinet are $28 each. A consultant tells Cheng that the average marg
Masteriza [31]

Answer:

check the calculations below.

<em>You didn´t post the complete information of the exercise, I searched the exercise online and tried to ask the most useful question.</em>

Explanation:

a) current margin = Sale price - Cost

= $42 - $28 = $14 per unit

(b) Selling price if margin is 49%

= Cost / (1-0.49)

= 28 / 0.51

= $55

Profit = 55*49% = 227

(c) Price to consumer = Selling price / (1-0.1)

= 55/ 0.9

= $61.1

(d) Price to Consumer = Selling price from Chengg + Margin

= 61 + 10 = $71

5 0
3 years ago
U.S. publisher Robert de Graff copied the success of similar books in England when he founded ________ in 1939. This company pro
Kitty [74]

Answer:

Pocket books

Explanation:

Pocketbooks were founded in 1939 and revolutionised the whole publishing industry. The idea was to produce easy to carry books with inexpensive paperback reissues. The idea became an instant success and per book cost was almost 25cent. Following the success of US publisher Robert de Graff many other publishing companies across England started to manufacture pocketbooks.

3 0
3 years ago
Other questions:
  • Suppose there is an ordinary deductible of $40 and the maximum payment by the insurer is $130. Determine the standard deviation
    6·1 answer
  • Factor Co. can produce a unit of product for the following costs: Direct material $ 7.70​ Direct labor 23.70​ Overhead 38.50​ To
    13·1 answer
  • Rational ignorance refers to voter-citizens choosing to be uninformed about politics and government on an individual basis becau
    5·1 answer
  • Destiny Corporation is preparing its statement of cash flows by the indirect method. Destiny has the following items for you to
    11·1 answer
  • Which of the following is true of open market operations? Select the correct answer below: Open market operations involves the b
    10·2 answers
  • The organizational environment is a set of forces and conditions that operate within an organization's boundaries. true false
    13·1 answer
  • The total package that a firm offers employees in return for their labor is called?
    15·1 answer
  • Tammi’s Truck Stop sells Seat-o-Nails cushions, which are specially designed to keep drivers awake on the road. Her accessories
    7·1 answer
  • ______ property refers to property that is the product of any innovative activity, such as a screenplay, a music score, or the c
    13·1 answer
  • You are analyzing a project and have developed the following estimates. The depreciation is $11,000 a year and the tax rate is 3
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!