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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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A company is considering two capital investments. Each requires an initial investment of $15,000 and has a 4 year useful life. I
yaroslaw [1]

Answer:

3 years

Explanation:

The computation of the payback period is shown below:

Payback period = Initial investment ÷ Net cash flow

where,  

Initial investment is $15,000

And, the net cash flow would be

= Year 1 + year 2 + year 3 + year 4

= $5,000 + $5,000 + $5,000 + $5,000

= $20,000

As we see that the net cash flow is recovered in three years that means net cash flows and the initial investment are equal

So,

Payback period would be

= $15,000 ÷ $15,000

= 3 years

7 0
3 years ago
A currency is said to have appreciated when it commands a ____________ amount of a foreign currency. it results in foreign goods
Tasya [4]

A currency is said to have appreciated when it commands a <u>larger</u>, amount of foreign currency. it results in foreign goods becoming <u>cheaper</u> for a country.

Foreign currency is something this is usually generic to have a price as a medium of alternate in order that it may be traded for goods and offerings. The trading gadget within an economy is based on its foreign money, which is normally specific to a rustic and issued with the aid of that country's government.

Currency is a medium of exchange for goods and offerings. In brief, it is cash, in the shape of paper and coins, typically issued by using a government and normally regularly occurring at its face price as a method of payment.

Learn more about Currency here: brainly.com/question/2202418

#SPJ4

4 0
2 years ago
As a politician, you would be more inclined to propose an increase in the minimum wage when you believe that the new minimum wag
scoundrel [369]
The answer is c. Be equal to the equilibrium wage.
3 0
3 years ago
If goods in transit are shipped FOB destination
AleksandrR [38]

Answer:

b. the seller has legal title to the goods until they are delivered.

Explanation:

When the goods are in the transit and are shipped FOB destination, the title of the goods would be with the seller. If the goods are delivered, then the legal title would be transferred from the seller to the buyer. Until the goods are in transit, the legal title is with the seller itself.  

Both the parties are eligible for the legal title. It can be either a buyer or seller depending upon the situations

Hence, the correct option is b and the rest options are wrong

5 0
3 years ago
1. Identify various production processes and
rewona [7]

Answer:

D

Explanation:

8 0
3 years ago
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