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Whitepunk [10]
3 years ago
11

Apply What You’ve Learned - Managing Credit Cards and ConsumerLoans

Business
1 answer:
Kitty [74]3 years ago
4 0

Answer:

1) In general, is it a good idea to make only minimum payments on your credit cards?

  • No, the small payment requirement is mathematically guaranteed to keep you in debt for many years.

All you have to do is analyze the interest rates charged by the credit card companies and it is really difficult for any investment to match those interest rates.

2) Assuming you have $1,500 in your budget this month with which to pay down your credit cards, how much should you pay on each card?

I would start with the cards that charge the highest interest rates. I would pay the full balance of the department store card and the gasoline card = $600 + $300 = $900

Since I have $600 left, I would then pay the minimum payments for the cards that charge the least interest rates. I would pay $40 to Discover card and $60 to VISA.

The remaining $500 would be used to pay MasterCard 1 card and lower its balance.

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The fifth step of the financial planning process is to create and implement the financial action plan. What is involved in this
alexgriva [62]

Answer:

Developing an action plan that identifies ways to achieve your financial goals.

7 0
2 years ago
When you decide to go and have a dinner with your friends in a world class hotel such as the Golden Tulip or La Pleasure Beach,
bezimeni [28]

Answer:

A. Price makers

B. Brand name

Explanation:

A. The hotels charge very high prices for wine and soft drinks because they are not price takers. They do not consider the price prevailing in the market for the products they are offering to the customers. They are price makers and select to charge the price they want to maintain their current hospitality. It their perception that wine and soft drinks are part of luxury. The food is an essential and people are not allowed to bring outside food in the hotel so they will buy it but when they will consume food they will also require the drinks as a part of their meal.

B. The people in today's world are so much brand conscious. They will pay for a name tag so they will be regarded for their high status in the society despite of low quality products. The ease of shopping at the branded stores is another reason for their high sales.

5 0
3 years ago
John's Locomotive Works manufactures a model locomotive. It comes in two versions: a standard (X1) and a deluxe (X2). The locomo
Law Incorporation [45]

Answer:

Explanation:

X1                    X2              Z

0                      0                0

16                     0                 4,000

0                      10                3,500

8                       6                 4,100

check the picture attached for more explanation

3 0
3 years ago
The following information relates to the manufacturing operations of the Abbra Publishing Company for the year: Beginning Ending
yKpoI14uk [10]

Answer:

Purchases= $408,000

Explanation:

Giving the following information:

Beginning Ending Raw materials inventory$547,000 $610,000

The raw materials used in manufacturing during the year totaled $1,018,000

<u>To calculate the direct material purchased, we need to use the following formula:</u>

Purchases= direct material used in production - ending inventory

Purchases= 1,018,000 - 610,000

Purchases= $408,000

5 0
3 years ago
Sarah is taking ACCUPLACER. In which section will she find the following question?
Rudik [331]

B. WritePlacer, I did all my math and i gto 102. So therefore the answer can't be Elementary Algebra and its not Arithmetic. The answer is writeplacer. Beacuse you have to place the x and the y with the number that they say they are. And that's how you get your answer.

3 0
3 years ago
Read 2 more answers
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