Answer:
A: a longer period in debt
Explanation:
Minimum payments are generally associated with credit card debts. A credit card allows the user to spend on credit. At the end of every month, the credit card company sends the customer a statement detailing the amount they owe. The statement shows the total outstanding amount and the minimum amount payable.
Paying the total outstanding amount clears the total credit card debt helping the customer avoid interest charges. Paying the minimum amount means the customer will have a balance carried forward to the following month, attracting interest charges.
Paying the minimum amount allows the user to continue using the credit card. There will be a balance carried forward and interest charges if only the minimum amount is paid. Due to the high-interest rates that credit cards charge, the debts increase exponentially. The cardholder will require a long time to clear the debts, which means that the interest charges and penalty amounts will be high.
Answer:
$10,000
Explanation:
As provided no equity is issued, therefore,
Common stock + Net income = Stockholder's equity
We know common stock = $70,000
Further there might be some dividend paid, which shall be deducted from net income to compute total value of Stockholder's equity.
Therefore,
$70,000 + $18,000 - Dividend = $78,000
$88,000 - $78,000 = Dividend = $10,000
Therefore, dividends paid during the month = $10,000
Answer:
The property will be transferred according to the Statute of Descent and Distribution.
Explanation:
Intestacy is the situation where a person dies without leaving a will for the sharing of his estate.
When this happens the descent and distribution statute comes into play.
The heirs or next of kin are beneficiaries to the estate. Heirs can be be blood relatives, adopted children, adopted parent, or surviving spouse.
The line of descent is the order of beneficiaries that are from an ancestor. The line of descent can be direct such as sons, or collateral such as cousins.
In this case where Olive Maccones dies without a will and she has three sons and seven grandchildren, her estate will be distributed by a court based on the line of descent of her sons and grandchildren.
Answer:
e. $153,156
Explanation:
From 9/1/14, he needs $50,000 every year for 4 years to fund the tuition fees. Therefore, present value of the amount needed at 9/1/14 using the Present value of annuity due formula
= 50,000 * {1+ (1/(1.05)^4) } / 0.05 * (1.05)
= $186,162
$186,162 is the amount needed after 4 years. Amount you need to invest today to have this amount in four years = $186,162/(1.05)^4 = $186,162/1.21550625 = $153,156.40
