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
erica [24]
3 years ago
11

You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of .6 percent per year, co

mpounded monthly for the first six months, increasing thereafter to 17.5 percent compounded monthly. Assume you transfer the $6,500 balance from your existing credit card and make no subsequent payments. How much interest will you owe at the end of the first year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Business
1 answer:
kolezko [41]3 years ago
7 0

Answer:

Total interest paid = $606.63

Explanation:

First calculate the monthly payment for first six months

Monthly interest for first 6 months =.006/12=.0005

= 6500*(1.0005)^6

=6519.52

Interest rate for next six months

=17.37%/12=1.45%

(1.0145)^6=1.090054

=6519.52*(1+.0145)^6

=7106.63

Total interest paid = 7106.63-6500  

Total interest paid = 606.63

You might be interested in
Your friend wants to open a clothing shop. A necessary capital resource is a
saw5 [17]

Answer: Your friend wants to open a clothing shop. A necessary capital resource is a <u>place to open the shop.</u>

Explanation: Capital is the element constituted by money and infrastructure, which are needed to take advantage of human and natural resources in the productive process, considered as essential by the capitalists, since without money and other economic resources, companies cannot settle and industries, because they need it to have facilities, furniture, machinery, buy raw materials, pay staff, and so on.

6 0
3 years ago
Suppose Tim spends his entire income on hot dogs and hamburgers and consumes at least some of both. Now suppose that the price o
natali 33 [55]

Answer:

D. Tim consumes more hamburgers and fewer hot dogs.

Explanation:

For his utility to remain constant, Tim will neither consume more goods in total, nor spend more money than before.

Therefore, because the price of hot dogs has risen, while the price of hamburger has remained the same, he will now buy more hamburgers and less hot dogs, because eating more hamburgers and less hot dogs will not decrease his satisfaction, it will remain the same. We can also conclude from that both fast food products are perfect substitutes for Tim.

7 0
3 years ago
When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in ________ marketing.
viktelen [127]

Answer:

It is called a Business to Business or B2B Marketing

Explanation:

B2B or Business to Business Marketing simply occurs when a business organisation decides to going into transaction with an other business organisation. The two businesses can be within the same locality or not. A criteria is that a B2B marketing involves a commercial transactions which would be to the benefit of both parties.

The <u>opposite of B2B is B2C (Business to Consumer) marketing, this is the commonly known type of marketing where a consumer/individual</u> patronizes the products of a manufacturer or business organisation.

B2B will usually occur when a company needs certain products or materials to complete its own finished goods and this can be purchased from another organisation that has been adjudged to be a producer of same.

It could also occur, when a business is required to take on the services of another business for instance in audit cases.

In the case of the question, the global positioning system is a finished product of the electronics company required by the car manufacturer to complete his own finished product (the car). Hence, the B2B marketing.

5 0
3 years ago
Which of the following statements is CORRECT? a. The reported income of two otherwise identical firms cannot be manipulated by d
Delicious77 [7]

Answer: The correct answer is "d. The income statement for a given year is designed to give us an idea of how much the firm earned during that year.".

Explanation: The statement "d. The income statement for a given year is designed to give us an idea of how much the firm earned during that year." is CORRECT because In accounting, the income statement is a financial statement that shows in an orderly and detailed way how the result of the year was obtained during a given period.

This financial statement is closed, since it covers a period during which the costs and expenses that gave rise to its income must be perfectly identified. Therefore, it must be perfectly applied at the beginning of the accounting period so that the information presented is useful and reliable for decision making.

8 0
3 years ago
Calaf’s Drillers erects and places into service an off-shore oil platform on January 1, 2018, at a cost of $10,000,000. Calaf is
GenaCL600 [577]

Answer:

oil plataform     450,000 debit

  ARO liability oil Plataform      450,000 credit

Explanation:

We will recognize the ARO at fair value, and then recongize an interest expense each year to make his balance equal to 1,000,000

The ARO will be capitalized into the oil plataform long-term assets

and depreciate over the past of time.

5 0
3 years ago
Other questions:
  • He business decisions of a corporation are made by whom?
    8·1 answer
  • What are examples of Human Services careers? Check all that apply. Chief Executive Receptionist Hairstylist Funeral Director Chi
    12·2 answers
  • A company is considering an iron ore extraction project that requires an initial investment of​ $1,400,000 and will yield annual
    6·1 answer
  • Which of the following is a discrete quantitative variable?
    7·1 answer
  • The percentage of a market which actually buys a specific product from a specific company is referred to as that product's a. ma
    14·1 answer
  • The purchase price of a car is $25,000. Mr. Smith makes a down payment of $5000 and borrows the balance from a bank at 6% nomina
    7·1 answer
  • Identifying cash flows (LO 1) Mighty Vita produces a wide range of herbal supplements sold nationwide through independent distri
    13·1 answer
  • In a process-costing system, the cost of abnormal spoilage should be A. Included in the cost of units transferred out. B. Prorat
    8·1 answer
  • Pharoah Industries collected $106,000 from customers in 2019. Of the amount collected, $24,200 was for services performed in 201
    8·1 answer
  • Gidgits Galore has been busy during this lesson continuing its expansion plans throughout the United States. After all, everyone
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!