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kobusy [5.1K]
3 years ago
8

Suppose you owe $3,000 on your credit card. You pay a minimum payment of $30 each month. At an Annual Percentage Rate of 12% (or

1% per month), how many years would it take to eliminate your credit card debt if you made no additional new charges? Less than 5 years Between 5 and 10 years Between 10 and 15 years Never, you will continue to be in debt
Business
1 answer:
lianna [129]3 years ago
3 0

Answer:

Never, you will continue to be in debt

Explanation:

the interest per month are 1% of the unpaid amount:

3,000 x 1% = 30 interest per month

the minimum payment is 30 dollars

Therefore, by doing the minimum payment we are just coering the interest generated per month we are not doing any amortization on the principal Hence we cannot repay the debt.

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Correct identification of the underlying root cause is the desired outcome of the ________________ approach to problem solving.
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Answer:

Letter A is correct. <u>Cause-oriented.</u>

Explanation:

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How much can Azco Autosystems, Inc., afford to spend on an energy management system if the software will save the company $21,30
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The amount that that  Azco Autosystems, Inc.,  can afford to spend on an energy management system is $80,744.

<h3>Present value</h3>

Using this formula

Present Value = A(P/A, 10%, 5)

Where:

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(P/A, 10%, 5)=3.79079

Let plug in the formula

Present Value = 21,300 (P/A, 10%,5)

Present Value = 21,300 (3.79079)

Present Value =80,743.8

Present Value = $80,744 (Approximately)

Inconclusion the amount that that  Azco Autosystems, Inc.,  can afford to spend on an energy management system is $80,744.

Learn more about present value here:brainly.com/question/15904086

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"The following per unit cost information is available: direct materials $10, direct labor $4, variable manufacturing overhead $3
natta225 [31]

Answer:

The target selling price =$45  

Explanation:

The target selling price is the sum of the total unit cost plus 25% of the the unit cost

The target selling price = Total per unit cost + (25% × total unit cost)

The total unit cost is the sum of all the costs involved making the product available to the consumer.

The sum of direct material cost , labour cost variable manufacturing, fixed manufacturing overhead, variable selling and administrative expenses and fixed selling and administrative expenses.

The target selling price would be determined using te steps below:

Step 1: Calculate the unit cost

Total unit cost = 10 + 4 + 3 + 10 + 1 + 8 = 36  

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Step 2: Calculate the target selling price

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The target selling price = 36 + (25% × 36) = $45  

The target selling price =$45  

8 0
3 years ago
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