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3 years ago

What is true if you only pay your minmium amount each towards your credit card bill

1 answer:

8 0

Paying the minimum amount on credit cards means the balance on the account will be higher. A higher balance on the credit card will mean more interest is paid often over a longer period of time

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Barry has a medical plan with a $1,200 deductible, 20% coinsurance, and a $5,000 coinsurance cap. His allowable medical expenses

Trava [24]

Based on his deductible and coinsurance cap, the amount that Barry will pay is $4,560.

<h3>Amount Barry will pay </h3>

Barry will have to pay the entire deductible of $1,200. The expenses that are left will then be shared between him and the insurer in a 20% - 80% ratio but he will not pay more than $5,000.

Total he will pay out of pocket is therefore:

= Deductible + ( 20% x (Medical expenses - deductible))

Solving gives:

= 1,200 + ( 20% x (18,000 - 1,200))

= $4,560

In conclusion, he will pay $4,560.

Find out more on insurance payments at brainly.com/question/25973180.

4 0

2 years ago

The discount rate is the interest rate charged by:_______.

disa [49]

Answer:

Explanation:

I believe it is the interest rate the federal reserve uses for loaning to banks. Its the minimal rate, also.

5 0

3 years ago

One person’s spending becomes another person’s income. This statement is

Paha777 [63]

Answer:

d. the Circular Flow Model

Explanation:

Based on the information provided within the question it can be said that this statement is an example of the Circular Flow Model. This model (like mentioned in the question) illustrates the flow of cash from different people or company's in different industries. Where one person/company pays another, which takes it in as income and uses that to pay another company for what they need and so on.

8 0

3 years ago

On January 1, 2016, Phoenix Co. acquired 100 percent of the outstanding voting shares of Sedona Inc. for $784,000 cash. At Janua

stiv31 [10]

Answer:

a) Consolidated net income for Phoenix and Sedona for 2018

Phoenix revenues $648,000

-Phoenix expenses ($412,000)

Phoenix Net Income $236,000

2018 Income from Sedona $54,075

Consolidated net income for $290,075

Phoenix and Sedona for 2018

b) Phoenix’s consolidated retained earnings balance at December 31, 2018

Phoenix’s consolidated retained earnings balance at December 31, 2018 = $347,075.00 (same as Phoenix because of equity method use)

c) What amount should Phoenix report for Sedona’s customer list?

Consideration transferred at fair value $784,000

Book value acquired ($548,800)

Excess fair over book value $235,200

To Equipment $95,000

To customer list (4 year life) $140,200

Three years since acquisition of customer list = $140,200/4 years = $35,050. Hence, Phoenix report $35,050 as Sedona’s customer list.

4 0

3 years ago

The controller of Sunland Industries has collected the following monthly expense data for use in analyzing the cost behavior of

Anastasy [175]

Answer:

Variable cost per unit= $7.2 per unit

Explanation:

Giving the following information:

Month Total Maintenance Costs Total Machine Hours

January: $2,590 - 330

February: $2,890 - 380

March: $3,490 - 530

April: $4,390 - 660

May: $3,090 - 530

June: $5,470 - 730

To calculate the variable cost under the high-low method, we need to use the following formula:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (5,470 - 2,590) / (730 - 330)

Variable cost per unit= $7.2 per unit

6 0

3 years ago