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andriy [413]
4 years ago
13

Henry Garrison starts the month with a balance on his credit card of $1,130. The average daily balance for the month, including

the new purchases, is $883. The average daily balance for the month, excluding the new purchases, is $743. Henry's interest rate is one and a half percent for the month. Henry's bank calculates the finance charge on their credit card by using the average daily balance excluding new purchases. What would Henry's finance charges be for the month?
Business
1 answer:
hoa [83]4 years ago
3 0

Answer:

Interest expense $ 11.15

Explanation:

As the bank uses the average daily balance excluding new purchases we should use that amount to solve for the interest expense.

The rate is one and a half percent therefore, 1.5% --> 0.015

principal x rate = interest

$743 x 0.015 = $ 11.145

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vitfil [10]

Answer:

Constant, Decreases, Increases

Explanation:

4 0
3 years ago
The total fixed overhead variance is:a. the difference between actual and budgeted fixed overhead costs. b. the difference betwe
kondaur [170]

Answer:

a. the difference between actual and budgeted fixed overhead costs.

Explanation:

As we know that

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So, the total fixed overhead variance is the difference between the actual fixed overhead costs and the budgeted fixed overhead costs i.e to be fixed in nature

Hence, the first option is correct

3 0
3 years ago
According to the path-goal theory of leadership, the level of involvement a manager utilizes should (1) be the same for all empl
harkovskaia [24]

Answer:

1. None of the above

2. All of the above

Explanation:

According to the path-goal theory of leadership, the level of involvement a manager utilizes should (1) be the same for all employees in the department, (2) be either low or high management involvement regardless of the circumstances, and (3) not be influenced by subordinates' expectations. Which statements are correct?

<u>NONE OF THE ABOVE</u>

<u>The Path-Goal theory of leadership stipulates that managers should adapt a leadership style that is employee oriented for the purpose of organizational goal achievement. </u>

<u />

This is an ability issue. When a manager's performance deteriorates because manager's ability has deteriorated. The steps to be taken will be in the order below:

(1) Determine if the resources are adequate,

(2) retrain the individual, and

(3) redesign the job.

<u>All of the above steps are correct in that order</u>

3 0
3 years ago
When Glenn is thirsty, he always buys a Coke. Like many consumers, Glenn engages in considerable alternative evaluation when buy
Alecsey [184]

Answer:

False

Explanation:

Buying coke by Glenn is an habit because he does not have to think before doing it. He does not even try to consider alternatives which could be as a result of his total satisfaction from coke. Habitual decisions need little to no conscious effort (reasoning) to make.

Cheers.

3 0
3 years ago
Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $4,00
Ierofanga [76]

Answer:

See explanation section

Explanation:

See the image below

8 0
3 years ago
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