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kap26 [50]
3 years ago
14

Paul has budgeted to pay $80 each month on his credit card which has a $2,818 balance and has an annual finance rate of 15.9%. H

ow many years will it take him to pay off the card?
Business
1 answer:
Mashcka [7]3 years ago
4 0

Answer:

time = 4 year

Explanation:

given data

pay each month =  $80  

Credit card balance = $2,818

annual finance rate = 15.9%

solution

we get here time period that is express by as

Monthly payment = \frac{(P \times \frac{r}{12}) \times (1+ \frac{r}{12})^t }{(1+\frac{r}{12})^t-1}     ............1

put here value and we get

80 =  \frac{(2818 \times \frac{0.159}{12}) \times (1+ \frac{0.159}{12})^t }{(1+\frac{0.159}{12})^t-1}    

solve it we get time t

t = 48 month

time = 4 year

 

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If the driver were to get into a crash or accident that was not their fault
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3 years ago
Which is the most common ethical dilemma that financial planners face? A. method of meeting their clients B. method of charging
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B. The method of charging their clients

Is is responsible and ethical to make money off your clients even if their investments that you are responsible for are not doing well and are losing money?

7 0
3 years ago
One of the most important issues for Mr. Reuben to address beyond the desires of the employees for particular types of benefits
Paul [167]

Question Completion:

Multiple Choice :

a. Family Medical Leave Act

b. Americans with Disabilities Act

c. Pregnancy Discrimination Act

d. Age Discrimination in Employment Act

e. All of these answers are correct

Answer:

The law/regulation which applies to the benefits the company may utilize is:

a. Family Medical Leave Act

Explanation:

The Family and Medical Leave Act of 1993, gives employees the opportunity to take leave from their work for specific family and medical reasons without affecting their normal annual leave.  Unlike the other laws mentioned, which attempt to prohibit discrimination against persons with disabilities, (Americans with Disabilities Act 1990), against Pregnancy (Pregnancy Discrimination Act of 1978), and against age (Age Discrimination in Employment Act 1967), the Family and Medical Leave Act provides benefits to employees.

3 0
2 years ago
Super Carpeting Inc. just paid a dividend of $2.64 and its dividend is expected to grow at a constant rate of 5.50% per year. If
TiliK225 [7]

Answer:

1. C. $33.76 per share

2. B- The constant growth model can be used if a stock's expected constant growth rateis less than its required return

3. 8.25% ; $35.62 ; 5.5%

Explanation:

1. Using the Constant Growth Model to calculate the intrinsic value would be best given the above values.

The formula is;

Value = Next Dividend / (Required Return - Growth rate)

Value = (2.64 * ( 1 + 5.5%)) / ( 13.75% - 5.5%)

Value = 2.7852/8.25%

Value = $33.76

2. Going by the formula, if the expected growth rate is more than the required return, the intrinsic value would be a negative number and a stock's price cannot go below 0. The growth rate has to be less than the required return for this to work.

3. At Equilibrium, the stock dividend is growing as it should.

Dividend Yield should therefore be;

= Next Dividend / Stock Value * 100

= (2.7852 / 33.76) * 100

= 8.25%

Stock Price should grow at the growth rate so;

= 33.76 * ( 1 + 0.055)

= $35.62

Gains yield refers to what rate the stock will change in value. Growth rate is 5.5% so that will be the answer.

5 0
3 years ago
A father and his son are celebrating the father's 75th birthday. Drink for drink, who will most likely have a higher BAC ?
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The one who will most likely have a higher BAC is the father because a person who is older will most likely have the higher BAC, as the father is already seventy five and much older to his son, he will be therefore have a higher BAC compared to his son.
4 0
3 years ago
Read 2 more answers
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