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makkiz [27]
4 years ago
14

Why does the credit card company set the minimum payment so low

Business
1 answer:
Illusion [34]4 years ago
5 0

Answer:

To increase profit from interests by increasing duration of balance repayment.

Explanation:

The purpose of every business is to make profits and the reason why every credit card company includes a minimum payment is not just to make it easier to pay but by only making minimum payments, credit card holders could be kept as customers and paying interests on debt for longer.

Secondly, the more the periods the more likely you'll default on some of them and pay penalty fees which means additional income for the companies

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Define one key area of your daily life that would benefit if you learned to communicate better. Explain in detail how that key a
Evgesh-ka [11]

Answer:

if I learned to communicate better I would have more patience

Explanation:

if I were to communicate better I would have more patience with people it would help me understand other people's thoughts feelings and needs as well if I communicated my own thoughts feelings and needs it builds better relationships

6 0
3 years ago
Carson Company purchased a depreciable asset for $560,000. The estimated salvage value is $28,000, and the estimated useful life
LenaWriter [7]

Answer:

$79,800

Explanation:

Depreciation expense using the activity method = (actual hours of use in a given period / total estimated hours of use ) × ( Cost of asset - Salvage value)

(1500/10,000) × ($560,000 - $28,000) = $79,800

I hope my answer helps you.

5 0
3 years ago
All of the following statements are true EXCEPT:_________.
ale4655 [162]

Answer:

D. the demand for Nike running shoes is less elastic than the demand for shoes.

Explanation:

In this the substitutes would be more for the particular brand rather than the normal running shoes. Since the demand of running shoes might be less elastic as compared to the demand of nike running shows because the consumer shifted from the nike to other brand that are popular. Plus, the elasticity of demand for running shoes is considered to be inelastic as there is many subsitutes

So, the option d is correct

6 0
3 years ago
A machine costing $132,000 was destroyed when it caught fire. At the date of the fire, the accumulated depreciation on the machi
ELEN [110]

Answer:

Gain on disposal of $78,000

Explanation:

The computation of the disposition of the machine is shown below:e

= accumulated depreciation + insurance received based on the replacement cost of the machine - Destroyed cost of the machine  

= $60,000 + $150,000 -  $132,000  

= $78,000

Since the machine was replaced so accumulated depreciation should be included and the destroyed cost of the machine should be deducted.

The $78,000 record gain disposal of the machine  

8 0
4 years ago
Jennifer is the owner of a video game and entertainment software retail store. She is currently planning to retire in 30 years a
nexus9112 [7]

Answer:

A= $4,838.95 monthly

Explanation:

Giving the following information:

She is currently planning to retire in 30 years and wishes to withdraw $10,000/month for 20 years from her retirement account starting at that time.

First, we need to calculate the amount needed for retirement:

FV= 10,000*12*20= 2,400,000

Now, we can use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

Effective rate= 0.02/12= 0.0017

n= 12*30= 360

A= (2,400,000*0.0017)/[(1.0017^360)-1]

A= $4,838.95 monthly

3 0
4 years ago
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