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lidiya [134]
3 years ago
8

Helen recently received a credit card with a nominal interest rate of 21 percent. With the card, she purchased some new clothes

for $250. The minimum payment on the card is only $20 per month. If Helen makes the minimum monthly payment and makes no other charges, how long will it be before she pays off the card?
Business
1 answer:
Ludmilka [50]3 years ago
6 0

Answer:

It will take 14.2 months before Helen pays off the card.

Explanation:

PV Ordinary Annuity = C*[(1-(1+i/100)^(-n))/(i/100)]

C = Cash flow per period

i = interest rate

n = number of payments

250= 20*((1-(1+ 21/1200)^(-n*12))/(21/1200))

n(in years) = 1.19

Months = years*12 = 1.19*12 = 14.2 months

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3 0
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DDX Co. is a short-haul trucking company. Juan owned 1,000 shares of DDX stock. With research, he found a better investment oppo
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Answer and Explanation:

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In this case, Juan owned 1000 shares of DDX. DDX is a corporation because it is able to offers its shares to the general public and allows trading of shares for ownership.

3 0
3 years ago
The final step in recognizing the completion of production requires a company to?
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'The final step in recognizing the completion of production requires a company to debit Finished-Goods Inventory and credit Work-in-Process Inventory.

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4 0
1 year ago
To the extent that employers conduct a social media background check on job candidates, best practices are all of the following
Grace [21]

Answer:

Limit access to private information by friending someone

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When conducting recruitment of an individual employers sometimes do background checks on the person's social media information.

There however needs to be consideration of the person's privacy in doing this.

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8 0
3 years ago
Katie’s Cleaning Service has cleaning contracts for 15 apartments, 45 family homes, and 25 office buildings. She estimates that
Tomtit [17]

Answer:

correct option is B: $29,000

Explanation:

given data

apartments = 15

family homes = 45

office buildings = 25

pay for cleaning staff =  $12.50/hour

solution

we get here Total Budgeted hours that is

type                      Number     Hrs/Clean      No of Cleans    Total Hours

Apartments           15                  4                    4                      240

Homes                   45                 6                    4                      1080

Office                     25                10                    4                     1000

Total Budgeted hours need per month                                2320

Budgeted cost per month that is 12.50/hrs so it will           29000

so correct option is B: $29,000

3 0
3 years ago
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