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2 years ago

What is the best strategy to avoid paying interest on your credit cards?

Business

2 answers:

lord [1]2 years ago

8 0

c pay the miminum balance each month

mixas84 [53]2 years ago

5 0

Answer:

To avoid paying interest on your credit card ensure to pay the full balance each month

Explanation:

paying the full balance every month or billing cycle on your credit card will enable you to free from paying interest on your credit card. although paying the minimum balance will enable you save some cash at hand but it won't help you to be free from credit card interests

You might be interested in

At a large department store, the number of years of employment for a cashier is a normally distributed variable with a mean of 5

Yakvenalex [24]

Answer:

0.0084

Explanation:

For this probability problem, we will have to make use of the normal probability distribution table.

to use the table, we will have to compute a certain value

z = (x- mean) /Standard deviation

z = $\frac{(10 - 5.7)}{1.8}$ = 2.39

Probability he has worked in the store for over 10 years can be obtained by taking the z value of 2.39 to the normal probability distribution table to read off the values.

<em>To do this, on the "z" column, we scan down the value 2.3. we then trace that row until we reach the value under the ".09" column. </em>

This gives us 0.99916

Thus we have P (Z < 2.39) = 0.9916

We subtract the value obtained from the table from 1 to get the probability required.

1 - 0.9916 = 0.0084

The Probability that the employee has worked at the store for over 10 years = 0.0084

4 0

3 years ago

Abba, Inc. is considering dropping a product line. During the prior year, the line had sales of $207,000 and a contribution marg

damaskus [11]

Answer:

Overall net income will decrease by $34,000.

Explanation:

Calculation to determine net operating income

Using this formula formula

Net operating income=Contribution margin -Avoidable costs

Where,

Contribution margin =$124,000

Avoidable costs= Salaries $60,000

+Advertising $20,000+Administrative expenses $10,000

Let plug in the formula

Net operating income=$124,000-($60,000+$20,000+$10,000)

Net operating income=$124,000-$90,000

Net operating income=$34,000 Decrease

Therefore If this product line is dropped overall net operating income will:decrease by $34,000

8 0

2 years ago

Builtrite had sales of $700,000 and cogs of $280,000. in addition, operating expenses were calculated at 25% of sales. builtrite

Leni [432]

This is the presentation of the income statement of Builtrite in order to compute the net income:

Sales $700,000

Less: COGS $280,000

Gross Profit $420,000

Less: Operating expenses ($700,000 x 25%) $175,000

Dividends expense $25,000

Capital loss $70,000 $270,000

Total $150,000

Add: Dividend income $40,000

Capital gain $55,000 $95,000

Net income $245,000

3 0

3 years ago

How does the overall economy and it’s various aspects impact your life and finances?

irinina [24]

Well the economy is basically what our money runs on. Why things are a certain price and things like that. That effects us as citizens Bc here maybe a gallon of milk is 3 dollars but maybe the same gallon of milk is less money in another country. The economy effects me Bc helps determine how much money I make and how much to spend on certain items.

4 0

3 years ago

A 27-year U.S. Treasury bond with a face value of $1,000 pays a coupon of 6.00% (3.000% of face value every six months). The rep

nikdorinn [45]

Answer:

(A) $1,055.35 (B) $2,180.53 (C) $780.07 (D) $412.08.

Explanation:

The tenor of the bond is 27 years i.e. (27 * 2=) 54 periods of 6 months each (n).

Face Value (F) = $1,000

Coupon (C) = 6% annually = 3% semi annually = (3% * 1000 face value) = $30.

The Present Value (PV) of the Bond is computed as follows.

PV of recurring coupon payments + PV of face value at maturity

= $\frac{C(1-(1+r)^{-n}) }{r} + \frac{F}{(1+r)^{n}}$

A) Yield = 5.6% annually = 2.8% semi annually.

$PV = \frac{30(1-(1.028)^{-54}) }{0.028} + \frac{1,000}{(1.028)^{54}}$

= 830.25 + 225.10

= $1,055.35.

B) Yield = 1% annually = 0.5% semi annually.

$PV = \frac{30(1-(1.005)^{-54}) }{0.005} + \frac{1,000}{(1.005)^{54}}$

= 1,416.64 + 763.89

= $2,180.53.

C) Yield = 8% annually = 4% semi annually.

$PV = \frac{30(1-(1.04)^{-54}) }{0.04} + \frac{1,000}{(1.04)^{54}}$

= 659.79 + 120.28

= $780.07.

D) Yield = 15% annually = 7.5% semi annually.

$PV = \frac{30(1-(1.075)^{-54}) }{0.075} + \frac{1,000}{(1.075)^{54}}$

= 391.95 + 20.13

= $412.08.

4 0

2 years ago