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3 years ago

What is a credit limit?

1 answer:

5 0

Credit limit refers to the maximum amount of credit a financial institution extends to a client through a line of credit as well as the maximum amount a credit card company allows a borrower to spend on a single card.

Hope this helps

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Jason Allen is 30 years and wants to retire when he is 65. So far he has saved (1) $6,960 in an IRA account in which his money i

grandymaker [24]

Answer:

It will make annual deposits for $ 4,056.202

Explanation:

His goal is a future value of 1,000,000 in 35 years.

we will deduct from this the future value of his other investment:

IRA

$Principal \: (1+ r)^{time} = Amount$

Principal 6,960.00

time 35.00

rate 0.08300

$6960 \: (1+ 0.083)^{35} = Amount$

Amount 113,397.95

Market account

$Principal \: (1+ r)^{time} = Amount$

Principal 4,310.00

time 35.00

rate 0.05250

$4310 \: (1+ 0.0525)^{35} = Amount$

Amount 25,837.53

Proceeds required from the fund:

1,000,000 - 113,397.95 - 25,837.53 = 860,764.52

Now we calculate the PMT:

$PV \div \frac{1-(1+r)^{-time} }{rate} = C\\$

PV $860,764.52

time 34 years

(we must notice it will beging this investment next year, so at 31 years old)

rate 0.0934

$860764.52 \div \frac{1-(1+0.0934)^{-34} }{0.0934} = C\\$

C $ 4,056.202

5 0

3 years ago

The financial statement that reports the changes in the retained earnings and common stock for a period of time is known as the.

Tamiku [17]

The statement of owner's equity—also called the statement of retained earnings—shows the change in retained earnings between the start and end of a period (e.g., a month or a year). The record reflects a company's solvency and financial position.

<h3>What are the three financial statements?</h3>

The earnings report , record , and statement of money flows are required financial statements. These three statements are informative tools that traders can use to research a company's financial strength and provide a quick picture of a company's financial health and underlying value.

What is the statement of retained earnings ?

Reports the way that net and the distribution of dividends affected the financial position of the company during the accounting period. the sum of the share of net income which is not paid to the shareholder as dividend. the aim of the retained earnings is reinvestment

Learn more about financial statement:

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8 0

1 year ago

Taobao has been placed on the U.S. trade representative offices blacklist of “notorious marketplaces” due to the websites sale o

Gemiola [76]

Answer:

The answer is: letter a, To protect national security.

Explanation:

This incident occurred in 2016. Taobao is one of the online shopping websites owned by "Alibaba Group." It was placed on the blacklist by the U.S. because of selling "counterfeit goods." However, it was removed from the blacklist in 2012, since it showed efforts in combating piracy.

One reason for putting Taobao in the blacklist is to protect national security. This is the responsibility of the government to the nation when it feels threatened by anything harmful. The pirated goods were considered a threat to the nation. It can also result to financial loss to the owners due to stolen intellectual properties.

Thus, this explains the answer.

3 0

3 years ago

Crawford Fishing had a net income of $35,640 in 2017. They decided to pay $3,000 in dividends and keep the rest to help expand t

Lady bird [3.3K]

Answer:

'Retained income'.

Explanation:

We have been given that Crawford Fishing had a net income of $35,640 in 2017. They decided to pay $3,000 in dividends and keep the rest to help expand their production line.

We know that the net income that remains after paying dividends is known as 'Retained income'.

We also know that retained income can be used to pay off debts or it can be invested into business activities.

Therefore, the profit that Crawford Fishing keep to reinvest in the business is recorded as retained income.

8 0

3 years ago

Webster is a talented baker and has a degree in business management. He wants to own his own chain of incorporated bakeries one

Ludmilka [50]

Answer: High up-front costs.

Explanation:

Webster's limitation to owning a chain of incorporated bakeries would be the high up-front cost or capital needed to start up the company.

The up-front costs as in the case of the question is the money needed to start up the bakery company.

3 0

3 years ago