Brenda, who was planning a small dinner party and she found at the store a buy-one-get-one-free deal and a free gift with the purchase of a particular dessert, altered the menu as a result of the in-store promotion and ended up spending less than she'd planned. This shows that shopping situations can influence purchases, In this case, promotions in stores can influence purchase decisions.
Answer:
Choosing a credit card.
Explanation:
A credit card is a plastic rectangular card issued by financial institutions such as banks, that allows the cardholder to purchase goods or services from merchants on credit.
Credit cards offers it's users convenience to access a line of credit and thus, eliminates the need to carry cash (money) or check around.
The important criteria to consider when choosing a credit card are;
1. Annual Percentage Rate (APR).
2. Credit limit.
3. Penalties and fees.
4. Cash back.
<u>Answer:</u> The rate of interest is 7.18 %
<u>Explanation:</u>
To calculate the rate of interest, we use the equation used for the interest compounded monthly follows:
A = Amount after time period 'T' = $100,000
P = Principal amount = $50,000
R = rate of interest = ?
n = Number of times interest applied per time period = 1 (annually)
T = time period = 10 years
Putting values in above equation, we get:
Calculating the rate of interest in percentage:
Hence, the rate of interest is 7.18 %
Answer:
$45,350
Explanation:
Follow the Company`s collection history to determine the November Cash Collection.
November Cash Collection :
Collected in month of sale - 15% x $45,000 $6,750
Collected for 1st month after sale - 60% x $51,000 $30,600
Collected for 2nd month after sale - 20% x $40,000 $8,000
Total $45,350
Therefore,
The cash Justin can expect to collect in November is $45,350
Answer:
Interest Payable - 2021 = $6653.33 rounded off to 6653
Explanation:
The accrual principle in accounting requires the revenue and expenses for a period to be matched and recorded in their corresponding or respective periods. Thus, even though the interest on note will be paid at maturity in 2022, the interest expense related to the month of November 2021 and December 2021 will be recorded in the current year at 31 December as interest payable.
Interest Payable - 2021 = 499000 * 8% * 2/12
Interest Payable - 2021 = $6653.33 rounded off to 6653
