Select the correct answer.

Which situation would result in a credit card issuer charging a late-payment fee? A cardholder pays off one credit card with a n

topjm [15]

Answer:

A cardholder fails to make a minimum payment one month.

Explanation:

A credit card late-payment fee is the fee charged by a credit card issuer because the card holder fails to pay his debt at the minimum payment deadline. This fee can be very high up to $40 depending on the card issuer. Some card issuers charge very low payment fee or no payment fee at all, therefore if you know you are someone who forgets to pay debts at the due date use credit cards that charge low payment fees.

7 0

3 years ago

You have just made your first $5,000 contribution to your individual retirement account. Assuming you earn an annual rate of ret

Zielflug [23.3K]

Answer:

the future value is $328,983.26

Explanation:

The computation of the amount that would be retired in 45 years is shown below:

As we know that

Future value = Present value × (1 + interest rate)^time period

= $5,000 × (1 + 9.75%)^45

= $328,983.26

Hence, the future value is $328,983.26

5 0

3 years ago

Richard has discovered that the photographs that he took are shaky. He figured out that when he presses the shutter button, his

tester [92]

Buy a tripod that he can set his camera on to avoid shaky images. If the problem still continues, he should visit a technician to help him figure out what to do.

3 0

3 years ago

Wichita Industries' sales are 10% cash and 90% on credit. Credit sales are collected as follows: 40% in the month of sale, 50% i

Nikolay [14]

Answer:

$57,100

Explanation:

The technique for this question to follow closely the payment cycle

Calculation of January Cash Receipts

Cash Sales ($59,000 x 10%) $5,900

Credit Sales in January ($59,000 x 40%) $23,600

Credit Sales in December ($51,000 x 50%) $25,500

Credit Sales in December ($21,000 x 10%) $2,100

Total $57,100

Conclusion

the expected cash receipts for January from the current and past sales is $57,100

4 0

3 years ago

At December 31, 2018, the following information was available for Deen Company: ending inventory $22,600; beginning inventory $2

ELEN [110]

Answer:

Using COGS

Inventory TurnOver = 19.54

days in inventory = 46.95

Using Sales

Inventory TurnOver = 19.54

days in inventory = 18.68

Explanation:

Inventory TurnOver = COGS or sales / Average Inventory

Were: average inventory = (beginning + ending inventory ) / 2

days in inventory = 365 / Inventory TurnOver

Some accounts work with COGS and some with sales, the latter being more used, but because you have the two option and didn't specifically declare any of the two I will give you answer for both of them, then it will your work to check which one are you using in your course.

Average inventory = (21400+22600 ) /2 = 22,000

Inventory TurnOver (using COGS) = 171,000/22,000 = 7.77

days in inventory (using COGS) = 365/7.77 = 46.97

Inventory TurnOver (using Sales) = 430,000/22,000 = 19.54

days in inventory (using Sales) = 365/19.54 = 18.68

4 0

4 years ago