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3 years ago

Why is it important to know the interest rate on your credit card?

Business

2 answers:

miv72 [106K]3 years ago

8 0

The higher the interest rate, the more money you will pay back from using their credit card.

WINSTONCH [101]3 years ago

6 0

Answer: The higher the interest rate, the more money you will be paying back

Explanation:

It is important to know the interest rate on your credit card, that way you know how much you are capable of paying back without losing by working harder to repay the interest capped on your credit card. Hence, with low interest rate the tendency of paying back is faster.

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If all other factors are equal, what will happen to the supply of a product if the price goes up? A. The supply will increase. B

Vinil7 [7]

The basic principle is that if the price of a product goes up, all other factors being equal its demand will go down and vice versa (law of demand). Since in this case the price goes up, the demand will go down. The law of supply states that hen prices rise, supply rises too (in order to make profit). There is no general model predicting whether the market will be more competitive or not. Thus, the best answer from the above is A.

5 0

3 years ago

Lead time for one of your fastest-moving products is 24 days. Demand during this period averages 110 units per day. a) What wo

denis23 [38]

Answer:

a.) reorder point = 2,640 units

b.) reorder point = 5,280 units (reorder point doubles)

c.) reorder point = 1,320 units (reorder point drops in half)

Explanation:

Reorder point is the inventory level (point) at which action is taken (order placed) to replenish the stocked item. It is calculated as follows:

Reorder point = (Lead time × average daily sales) + safety stock

Lead time = 24 days

average daily sales = 110 units

safety stock = 0 (not given)

a.) reorder point = (Lead time × average daily sales) + safety stock

reorder point = (24 × 110) + 0 = 2,640 units

b.) if demand during lead time doubles:

lead time = 24 days

average daily sales = (110 × 2) = 220

∴ reorder point = 220 × 24 = 5,280 units

Therefore the reorder point doubles

c.) if demand during lead time drops in half:

lead time = 24 days

average daily demand = (110 ÷ 2) = 55 units

∴ reorder point = 24 × 55 = 1,320 units

Therefore the reorder point drops in half.

8 0

3 years ago

In its first month of operations, Skysong, Inc. made three purchases of merchandise in the following sequence: (1) 320 units at

Sidana [21]

Answer:

(a) $1,760

(b) $1,100

Explanation:

Given that,

Skysong, Inc. made three purchases of merchandise:

(1) 320 units at $5

(2) 420 units at $7

(3) 520 units at $8

Units on hand at the end of the period = 220

(a) Under FIFO method,

cost of ending inventory:

= Units on hand at the end of the period × $8 (From the last purchase)

= 220 × $8

= $1,760

(b) Under LIFO method (Comprise units from the first purchase),

cost of ending inventory:

= Units on hand at the end of the period × $8 (From the first purchase)

= 220 × $5

= $1,100

8 0

3 years ago

Singer and McMann are partners in a business. Singer's original capital was $40,000 and McMann's was $60,000. They agree to sala

11111nata11111 [884]

Answer: $20,000

Explanation:

Given that,

Singer's original capital = $40,000

McMann's original capital = $60,000

Singer's salary = $12,000

McMann's salary = $18,000

Interest on original capital = 10%

Profit sharing ratio = 3:2

Income of the year = $30,000

McMann's share of the income:

Salary = $18,000

Interest = $6,000

Singer's share of the income:

Salary = $12,000

Interest = $4,000

Therefore,

Remainder = $30,000 - $40,000

= -$10,000

Hence, remainder will be divided among these two partners in 3:2 ratio.

So,

McMann's share of remainder = $\frac{2}{5}\times10,000$

= -$4,000

Therefore, McMann's share of the income:

= Salary + Interest + remainder

= $18,000 + $6,000 + (-$4,000)

= $20,000

3 0

3 years ago

Project performance metrics are used to

Aleonysh [2.5K]

The answer is letter C

8 0

3 years ago

Read 2 more answers