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Schach [20]
3 years ago
7

The annual interest rate on a credit card is 13.99​%. If a payment of ​$400.00 is made each​ month, how many months will it take

to pay off an unpaid balance of ​$2 comma 455.44​? Assume that no new purchases are made with the credit card.
Business
1 answer:
romanna [79]3 years ago
5 0

Answer:

There will be 7 months of repayment for fully paying-off the outstanding amount.

Explanation:

We apply the present value formula to calculate the number of month it takes to paid off the outstanding amount.

We have:

Monthly payment = $400; Discounting period = number of months needs to paid off the amount; Discount rate = 13.99%/12

So, we have: 2,455.44 = [400/(13.99%/12)] x [1 - (1+13.99%/12)^(-n)] <=> [1 - (1+13.99%/12)^(-n)] = 0.071566 <=> (1+13.99%/12)^(-n) = 0.928434 =  <=> n = 6.4

=> There will be 7 months of repayment for fully paying-off the outstanding amount.

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Lisa sells kitchen furniture through her website. While her sales are stable, she's concerned that they're not keeping pace with
Kamila [148]

Answer:

a. Her business will have a competitive presence with similar businesses during searches.

Explanation:

Potential customers will be searching for furniture through Google, <em>by creating a Google Search campaign Lisa will gain presence during this search and she'll increase the visitors on her website and therefore this will benefit her business.</em>

I hope you find this information useful and interesting! Good luck!

7 0
2 years ago
Read 2 more answers
John was a high school teacher earning $ 80,000 per year. He quit his job to start his own business in pizza catering. In order
solong [7]

Answer:

Explanation:

Accounting profit

Revenue  Pizza-                      400000

Revenue beverage                 190000

Total revenue                         590000

Cost of sales

Wages (55000*2)                    110000

Pizza ingredients                     50000

Manager                                   75,000

Pizza baker (60000*3)             180000

Equipment                                 10000

Finance cost (50000*6%)         3000

Tuition fee                                  2000

Total expenses                        430000

Accounting Profit                                         160000

Implicit cost

Salary forgone                              80000

Rent forgone                                  12000

Interest on savings (110000*5%)  5500

Total                                               97,500

Economic profit      =(160000-97500)         =62500

I will advise John to return to the teaching Job as he earns more in salary than the economic profit of doing business.

6 0
2 years ago
Inventory should be reported as follows except a.according to the chosen cost flow assumption. b.at lower of cost or market. c.a
Gnom [1K]

Answer:

c.as a long-term asset on the balance sheet.

Explanation:

The inventory has come under the current asset as it is converted into cash within one year. Like other current assets i.e account receivable, prepaid insurance, etc contains high liquidity and they get converted into cash in less than one year

It also recorded at cost or market value whichever is lower plus it also chosen as cost flow consumption but it is not reported as a long term asset as it is classified as a current asset, not the long term asset

5 0
3 years ago
Larry, a human resources executive at Printopress, caters to the human resources needs of other departments in the company, such
lozanna [386]

Answer:

A) Functional departmentalization

Explanation:

Functional departmentalization -

The functional departmentalization , a specific organization is organized into various departments depending on the functions each of the department do , is known as functional departmentalization .

The advantage of Functional departmentalization is that it increases the efficiency of the organisation .

hence , from the question ,

The correct term according to the given information is Functional departmentalization .

8 0
3 years ago
A boycott occurs when workers collectively refuse to go to work.
nikitadnepr [17]
When workers refuse to work its called boycotting
3 0
3 years ago
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