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Sergeeva-Olga [200]
4 years ago
9

In two to three sentences, describe how making minimum payments on credit card balances increases the total cost.

Business
1 answer:
rjkz [21]4 years ago
3 0

Answer:

If you only make the minimum payment on your credit card, it could take years to pay off the balance. you could end up spending hundreds, in interest by the time the balance is required.

Explanation:

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When retailers allow a vendor to sell products on consignment, they:?
umka2103 [35]
Sponser? i think its that sorry if its not

8 0
4 years ago
Capital goods are goods that will be used in the future to produce more goods and services. True or False
MissTica

Answer:

The statement is: True.

Explanation:

Capital Goods are <em>assets with more than one year of useful life</em> that are used to generate other goods and income. <em>Capital goods and assets</em> as terms apply to the same category of resources but the context defines which one is being used. In the context of economic analysis, <em>capital goods</em> are used to refer to the amount of capital goods purchased and used in the overall economy. <em>Capital assets</em> is a term that is used more commonly in accounting and finance.

3 0
3 years ago
Olivia is willing to pay $185 a month for four years for a car payment. if the interest rate is 4.9 percent, compounded monthly,
Grace [21]
Let x = the price of the car that Olivia can afford.

Down payment = $2,500
Remaining amount to be financed is P = x - 2500.

Total payments should equal the monthly payments.
The total payment over 4 years (48 months) is
A  = $185*48 = $8,880

The rate is r = 4.9% = 0.049.
The compounding interval is n = 12.
The time is t = 4  years.
The amount financed is P = $(x - 2500).
Therefore
(x - 2500)(1 + 0.049/12)⁴⁸ = 8880
1.216(x - 2500) = 8880
x - 2500 = 7302.63
x = 9802.63
Olivia can afford a car priced at $9,802.63.

Answer: $9,802.63

4 0
3 years ago
arren has a loan with an effective interest rate of 5 percent per annum. He makes payments at the end of each year for 10 years.
Bond [772]

Answer:

interest portion of fifth payment = $66.89 ≈ $67

Explanation:

effective interest rate = 5% yearly

first payment = $200

second payment = $210

third payment = $220

fourth payment = $230

fifth payment = $240

sixth payment = $250

seventh payment = $260

eighth payment = $270

ninth payment = $280

tenth = $290

using a financial calculator, I determined the present value (principal) of the loan = $1,860.87

then I prepared an amortization schedule:

interest portion of fifth payment = $66.89 ≈ $67

Download pdf
6 0
3 years ago
Five airlines control 90 percent of the aviation sector of a country. the aviation industry in the country would be an example o
notsponge [240]
The aviation industry would be an oligopoly.
8 0
3 years ago
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