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mestny [16]
3 years ago
6

Like many college students, Stephanie applied for and got a credit card that has an annual percentage rate (APR) of 18%. The fir

st thing she did was buy a new HD Television for $300. At the end of the month, her credit card statement said she only needed to make a minimum monthly payment of $10. Assume Stephanie makes her payment when she sees her statement at the end of each month. If Stephanie doesn't charge anything else and only makes the minimum monthly payments, approximately how many months would it take her to completely pay off the HD Television? Assume that the credit card company compounds interest at the end of each month.
a) 40.2 months
b) 37.8 months
c) 35.8 months
d) 19.3 months
e) 46.3 months
Business
1 answer:
Mrac [35]3 years ago
6 0

Answer:

A

Explanation:

A financial calculator is needed to calculate the number of months needed to pay off for the TV

FV = 0

PMT = $10

PV = -$300

I = 18% / 12 = 1.5%

N = 40.15 years

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A recipe for 100 servings contains 25 pounds of ground beef, 10 pounds of pasta, 10 pounds of tomato paste, and 5 pounds of chee
adelina 88 [10]

Answer:

125 pounds

Explanation:

The computation of the number of pounds of ground beef will be in your new recipe is shown below:

= Number of pounds contained in ground beef × conversion factor

= 25 pounds of ground beef × 5

= 125 pounds

By multiplying the number of pounds with the conversion factor we can get the number of pounds of ground beef        

6 0
4 years ago
A company with excess capacity must decide between scrapping or reworking units that do not pass inspection. The company has 19,
ludmilkaskok [199]

Answer:

It is more convenient to rework the units and sell them for the full price.

Explanation:

Giving the following information:

The company has 19,000 defective units.

The units can be:

a) sold as-is for $3.40 each

b) reworked for $4.80 each and then sold for the full price of $8.80 each.

<u>We won't take into account the firsts $5.4 costs because they are irrelevant for the decision-making process.</u>

Sell as-is:

Effect on income= 19,000*3.4= $64,600

Rework:

Effect on income= 19,000*(8.8 - 4.8)

Effect on income= $76,000

It is more convenient to rework the units and sell them for the full price.

5 0
3 years ago
The Miller Company earned $111,000 of revenue on account during Year 2. There was no beginning balance in the accounts receivabl
Molodets [167]

Answer:

$31,670

Explanation:

Given that,

Revenue earned on account during Year 2 = $111,000

Cash collected from its receivables accounts during Year 2 = $76,000

Uncollectibles:

= 3% of its sales on account

= 0.03 × $111,000

= $3,330

Net realizable value of Miller's receivables at the end of Year 1:

= Revenue earned on account - Cash collected from its receivables accounts - Uncollectibles

= $111,000 - $76,000 - $3,330

= $31,670

5 0
3 years ago
Identify whether the given statements about climate change and economic growth are true or false. 1. Poorer countries have histo
GaryK [48]

Answer:

1. True 2. True 3. False 4. True

Explanation:

Identify whether the given statements about climate change and economic growth are true or false.

1. Poorer countries have historically been responsible for the bulk of world carbon emissions because of poor technology and environmental regulations.

<em>True, because they cannot afford advanced technologies that minimize carbon emissions and most of their production assets produces waste in form of emissions that damages the environment e.g. gas flaring</em>

2. Air and water quality in developed countries is generally much better today than it was several decades ago.

<em>True, over time governments have increased spending in the area of public health and waste management.</em>

3. Tackling climate change issues is likely to only modestly dent long-term economic growth.

<em>False, because tackling climate change will protect the environment and the resources therein which are harnessed for economic growth.</em>

4. Carbon emissions are negatively correlated with economic growth.

<em>True, because carbon emissions damage the environment which holds the resources for economic growth.</em>

3 0
3 years ago
Read 2 more answers
If a bank has excess reserves of $10,000 and demand deposit liabilities of $80,000, and if the reserve requirement is 20 percent
Svetlanka [38]

Answer:

c. $26,000.

Explanation:

The computation of the actual reserve is as follows:

Actual reserve is

= Reserve requirement + excess reserve

= $80,000 × 20% + $10,000

= $16,000 + $10,000

= $26,000

hence, the actual reserve is $26,000

Therefore the correct option is c.

We simply applied the above formula so that the correct value could come

And, the same is to be considered

8 0
3 years ago
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