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vazorg [7]
3 years ago
11

Randy Ice starts the month with a balance on his credit card of $1000. On the 10th day of the month, he purchases $200 in clothe

s with his credit card. On the 15th day of the month he makes a payment on his credit card of $500. The average daily balance for the month including the new purchase is $883. The average daily balance for the month excluding the new purchase is $750. The bank charges 1.5 percent per month and uses the average daily balance excluding new purchases method. What would Randy's finance charges be for the month
Business
1 answer:
Eva8 [605]3 years ago
6 0

Answer: $11.25

Explanation:

From the above question, The bank charges 1.5 percent per month and uses the average daily balance excluding new purchases method.

The average daily balance for the month excluding the new purchase is $750.

Therefore, the finance charge =

$750 x 1.5%

= $11.25

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At the current price level, producers supply $375 billion of final goods and services while consumers purchase $355 billion of f
BigorU [14]
<span>above equilibrium.
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3 0
3 years ago
Case Problem Analysis: Jurisdiction
Natali5045456 [20]

There are different kinds of cases. The answers to the questions are blow.

  • Before any court can hear any dispute between Miriam and the trucking company, it must have the jurisdiction to do so.

  • In order for Marya to sue the trucking firm, she has to file the lawsuit in a court that also has personal jurisdiction over the <u>Defendant</u>.

  • Georgia and Florida have personal jurisdiction over the trucking firm?

Yes, Marya sue the trucking firm in Georgia and Florida state courts.

Miriam would likely NOT want to sue the trucking firm in Georgia because she would need to;

  • Get a lawyer in  Georgia
  • Make multiple trips to Georgia
  • Have witnesses travel to Georgia.

Miriam would likely want to sue the trucking firm in Florida because:

1. The court is closer to her home

2.  She can better research for local lawyers

  • Miriam can sue the trucking firm in a federal trial court because residents of different states.

  • over $75000

<h3>What takes place in a court case?</h3>

In a  trial done in a court, lawyers often present evidence via witnesses who are known to testify about what they have seen or known.

After all the evidence had been presented, the lawyers will then give their closing arguments and lastly, the jury then decides if the defendant is guilty or not guilty.

Learn more about jurisdiction from

brainly.com/question/681072

6 0
2 years ago
Read 2 more answers
During 2018, Angel Corporation had 900,000 shares of common stock and 50,000 shares of 6% preferred stock outstanding. The prefe
AfilCa [17]

Answer:

$6.5 per share

Explanation:

Given that,

Net income = $6,000,000

Preferred dividend = $150,000

Weighted average number of common shares  = 900,000

Angel's Basic earnings per share:

[Net income - Preferred dividend ] ÷ Weighted average number of common shares

= [$6,000,000 - $150,000] ÷ 900,000

= 5,850,000 ÷ 900,000

= $6.5 per share

4 0
3 years ago
A manufacturer of industrial grade gas handling equipment wants to have $725,000 in an equipment replacement contingency fund 10
Amanda [17]

Answer:

$41,354.98

Explanation:

Required future worth = Annual savings x FVIFA(r%, N) x (1 + r)

Required annual savings ($) = [Required future worth / FVIFA(r%, N)] / (1 + r)

= 725,000 / [FVIFA(10%, 10) * 1.1]

= 725,000 / (15.9374 * 1.1)

= 725,000 / 17.53114

= 41354.98318991235

= $41,354.98

Note: Since this is annuity due (deposit made at beginning of year), FV is divided by (1+r).

7 0
3 years ago
Graham Petroleum produces oil. On May 1, it had no work-in-process inventory. It started production of 244 million barrels of oi
lisov135 [29]

Answer:

Explanation:

Number of completed barrels = 216 + (244-216)*60%

= 233 barrels

Cost per barrel = (3245+3230)/233 = 27.8

Cost of oil shipped in pipeline = 216 * 27.8= 6003 millions

Cost of work in process ending inventory = (244-216)*60% * 27.8

= 467.04 million

4 0
3 years ago
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