1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lemur [1.5K]
3 years ago
10

Calculate the finance charge and new balance using the three methods presented. the account balance on september 1st is $149.99.

on september 9th a payment of $50.00 is made. monthly rate = 1.75% date payments purchases balance number of days product/sum 9/1 - 9/8 $149.99 8 $1,199.92 9/9 $50.00 $99.99 1 $99.99 9/10 - 9/16 $99.99 21 $2,099.79 total 30 $3,399.70 previous balance method: finance charge = $. new balance = $. unpaid balance method: unpaid balance = $. finance charge = $. new balance = $. average daily balance method: average daily balance = $. finance charge = $. new balance = $
Business
1 answer:
Natali5045456 [20]3 years ago
5 0

Answer:

The average daily balance=$113.32

finance charge =$1.98

the new balance =$101.97

Explanation:

The formulas for computing each of the amounts above are found in the excel file attached. Kindly note the formulas for subsequent assignments.

Download xlsx
You might be interested in
The relationship between financial leverage and profitability   Pelican​ Paper, Inc., and Timberland​ Forest, Inc., are rivals i
mamaluj [8]

Answer:

Pelican's debt ratio        9%

Timberland's debt ratio 50%

The times interest earned ratio for Pelican  57.5

The times interest earned ratio for Timberland 10.45

C is correct as Pelican has 57.5 times interest earned ratio while Timberland only 10.45 times.in other words,earnings of Timberland is more volatile.

D is also correct ,since it has financial leverage of 50.46% as against Pelican financial leverage of 9.17%

The operating margin for Pelican is 14.76%  while the operating margin for Timberland is 13.8%

Return on total assets for Pelican is 36.9%  and that of its competitor is 34.5%

The return on equity for Pelican 40.6%  and  that of Timberland is 69.6%

C is correct as Pelican is more profitable than Timberland as shown by the higher net profit margin and return on assets

B is correct, even though Pelican is more profitable​ (higher net profit​margin), Timberland has a higher ROE than Pelican due to the additional financial leverage risk.

Explanation:

All of the ratios requested for are found in the attached spreadsheet.

Download xlsx
3 0
3 years ago
The CEO of Ridgeway, Inc., realizes that the company’s survival depends on developing and acquiringknowledge. Which of the follo
aleksandr82 [10.1K]

Answer:

The correct answer is B

Explanation:

When the company want that their employees, need to have the knowledge and develop their knowledge as well, they need to arrange or conduct the program of the training as well as programs of the recruiting.

As the CEO, realizes and states that the firm or the business survival grounded on the acquiring as well as the developing the knowledge. So, in order to follow what the CEO said, one must go through the proper training as well as the programs of the recruiting.

7 0
3 years ago
You should dress formally when giving a speech because it shows respect for your audience.
scoundrel [369]
True, it makes you look more professional. 

Hoped this helped.

~Bob Ross®
8 0
3 years ago
Read 2 more answers
A pencil manufacturer is in a perfectly competitive market. The firm can sell as much as it wants at a price of $1.50 per pencil
Ierofanga [76]

Answer:

d. Continue production in the short run, but exit the business in the long run unless prices are expected to rise or costs to fall..

Explanation:

Currently, their sales revenue less variable cost is positive as it can sale at $1.50 dollars and the variables cost are less than that. Therefore, there are fixed cost thefirm can pay because it produce.

Now, in the long-run when the firm can exit the market it should consider to do so if it continues to get an average cost above the selling price.

3 0
3 years ago
On March 3, ABC purchased a desk for $450 on account. On March 22, ABC purchased another desk for $500 also on account, and then
Anna007 [38]

Answer:

A. $950

Explanation:

Proper documentations of payments, purchases and income in any company is very necessary for growth.

From the question, the following transaction occured:

  1. March 3 => a desk was purchased for $450
  2. March 22 => another desk was purchased for $500
  3. March 24 => $400 was paid on account.

To know the amount that ABC should report for desks, the two transaction for desk should be summed and the result will be the amount that should be recorded.

Therefore,

$450 + $500 = $950.

4 0
3 years ago
Read 2 more answers
Other questions:
  • Dannica Corporation produces products that it sells for $40 each. Variable costs per unit are $25, and annual fixed costs are $3
    12·1 answer
  • What is a minimally acceptable rate of pay?
    10·1 answer
  • Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the
    5·1 answer
  • Using what you have learned, describe the effect of communications technology on globalization.
    11·2 answers
  • National Financial​ Services, Inc. invested $ 24,000 to acquire 5,000 shares of Stonebridge​ Investments, Inc. on March​ 15, 201
    11·1 answer
  • Please describe how local agriculture and consumption of locally produced item helps develop sustainability in the local communi
    13·1 answer
  • The following transactions were completed by the company.
    5·1 answer
  • Which of these people is most likely a freelancer?
    11·2 answers
  • You expect to receive $9,300 three years from today. You also expect to receive $13,100 five years from today. When you receive
    12·1 answer
  • Why does Steve Jobs perfectly reflect the downside of a charismatic leader? a. After he left Apple in 1985, employees felt too f
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!