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castortr0y [4]
3 years ago
5

4. Suppose you have two credit cards. The first has a balance of $410 and a credit limit of $1,000. The second has a balance of

$510 and a credit limit of $1,000. What is your overall credit utilization?
A. 16%
B. 46%
C. 36%
D. 56%
E. 26%

5. Jerry lost her credit card and instead of reporting it right away, she decides to continue looking for it for a couple of days. On the second day, she makes the call and reports the card lost/stolen to the credit card company. She then logs into the account activity page of her credit card and sees a recent $500 purchase that was made by someone else. How much of this $500 charge will Jerry have to pay?
A. $0
B. $300
C. $50
D. $250
E. $500
Business
2 answers:
Morgarella [4.7K]3 years ago
4 0
Number 4 is a number 5 is d
marta [7]3 years ago
3 0

<u>4. Option (B) is correct. The overall credit utilization is 46%. </u>

<u>5. Option (C) is correct. The total liability of Jerry is $500.  </u>

<u> </u>

Further Explanation:

Credit utilization rate:

Card utilization rate refers to the portion of the credit card limit that has been used by the credit cardholder. When the credit card holder uses the funds, the used or withdrawal funds is known as the credit card balance.  

Calculate the overall credit utilization:

The card balance refers to the amount utilized from the credit card. Therefore, the overall credit utilization can be calculated by dividing the overall credit card balance with the total credit card limit.

\begin{aligned}\text{Overall credit utilization}&=\frac{\text{Overall balance}}{\text{Total credit card limit}}\\&= \frac{\$410+\$510}{\$1,000+\$1,000}\\&=0.46\:or\:46\% \end{aligned}

Thus, overall credit utilization is 46%.

Determine Jerry’s liability:

Jerry is liable for the payment of the whole $500. The credit card is stolen, and the amount is withdrawn because of Jerry’s mistake. There was no mistake from the side of the bank. Therefore, Jerry has to pay the whole amount.

Thus, option (c) is correct. The total liability of Jerry is $500.  

Learn More:

1. Learn more about the credit card balance

<u>brainly.com/question/6453895 </u>

2. Learn more about low credit card score

<u>brainly.com/question/2828467 </u>

3. Learn more about various approaches to increase the credit score

<u>brainly.com/question/6846931 </u>

Answer Details:

Grade: High School

Subject: Business Studies

Chapter: Money & Banking

Keywords:  Suppose, credit, cards, the, first, has, a balance, $410, and, credit, limit, second, balance, $510, credit limit, credit utilization.

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Interest rates and bond prices have an adverse correlation. Bond prices grow during periods of low-interest rates and decline during periods of high-interest rates.

<h3>What is the interest rate?</h3>

The cost of borrowing and the rewards for saving are both indicated by the interest rate. Since there is a premium if the coupon rate is higher than the market rate, the bond's price will be higher. Bond prices will decrease if the coupon rate is lower because there will be a discount.

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Compute the Cost of Goods Manufactured and Cost of Goods Sold for Strike Marine Company for the most recent year using the amoun
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Answer:

Instructions are below.

Explanation:

<u>First, we need to calculate the direct material used and the manufacturing overhead:</u>

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 22,000 + 74,000 - 34,000

Direct material used= $62,000

Manufacturing overhead:

Insurance on plant $9,500

Depreciation-plant building and equipment 12,600

Repairs and maintenance-plant 3,900

Indirect labor 42,000

Total overhead= $68,000

<u>Now, we can determine the cost of goods manufactured:</u>

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<u>Finally, the cost of goods sold:</u>

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3 0
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Use the following balance sheet data for the First National Bank to answer the next question. Assets Liabilities Net Worth Reser
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Answer:

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Explanation:

The amount of checkable deposits is given $120,000 on the liabilities side. So, the withdrawal and clearance of check worth $14,000 will lead to a decline in the number of checkable deposits by $14,000. As a result, the remaining amount of checkable deposits will equal to $106,000 ($120,000 - $14,000).

To maintain the balance on asset & liabilities side of the balance sheet, the asset side will also reduce by $14,000. $14,000 will be deducted from the reserves of the bank. As a result, the remaining amount of reserves is equal to $36,000 ($50,000 - $14,000).

7 0
3 years ago
Fraud is encouraged when a notary does what?
yulyashka [42]

Answer:

Overcharging for notary public services. Notarizing a document without the signer being in the notary's presence. Notarizing the notary's own signature. Issuing identification cards.

Explanation:

8 0
3 years ago
Stocks 1 and 2 are selling for $100 and $125, respectively. You own 200 shares of stock 1 and 100 shares of stock 2. The weekly
dezoksy [38]

Answer: covariance matrix is

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Explanation:

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> means = c(0.001, 0.0015)

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> sdp = sqrt( w %*% cov %*% w )> round(sdp,4)=0.0279

> VaR = -(S1+S2)*(mup+sdp*qnorm(.05))

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6 0
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