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Mumz [18]
4 years ago
15

Getting a credit card math quiz question 3 of 5: you have a balance of $4,000 on your credit card with a 12% interest rate (1% p

er month). you plan to make no new purchases with the card. you want to reduce your balance to zero over the next year. which monthly payment is most likely to accomplish this in 11 or 12 months?
Business
2 answers:
Yuliya22 [10]4 years ago
5 0
I was stuck on the same question. When I find out I’ll tell you immediately!!!
Naya [18.7K]4 years ago
4 0

Answer:

You can use an online loan calculator.

credit card balance = $4,000

APR = 12%

If you want to pay your balance in 12 months then your monthly payment should be $355.40.

If you want to pay your balance in 11 months then your monthly payment should be $385.82.

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What are the likely reason(s) that the market for dress shirts is not perfectly competitive? please select all that apply?
s2008m [1.1K]
Brand competition. price. location.
3 0
4 years ago
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Find the cost of equity for Consolidated Wheels and Axles Inc. using the information below: The firm's beta estimate is 0.9 The
SpyIntel [72]

Answer:

r or expected rate of return = 0.1077 or 10.77%

Explanation:

Using the CAPM, we can calculate the required/expected rate of return on a stock. This is the minimum return required by the investors to invest in a stock based on its systematic risk, the market's risk premium and the risk free rate.

The formula for required rate of return under CAPM is,

r = rRF + Beta * rpM

Where,

  • rRF is the risk free rate
  • rpM is the market risk premium

r = 0.051 + 0.9 * 0.063

r or expected rate of return = 0.1077 or 10.77%

8 0
3 years ago
Lasso Corporation manufactures a product with the following full unit costs at a volume of 4,000 units: Direct materials $ 200 D
ruslelena [56]

Answer:

Increases by $66,800.

Explanation:

Given that,

Direct materials = $ 200

Direct labor = 80

Manufacturing overhead (30% variable) = 150

Selling expenses (50% variable) = 50

Administrative expenses (10% variable) = 80

Total per unit = $560

If accept this offer,

Total cost:

= Material + Labor + Manufacturing overhead + Administrative

= $200 + $80 + (30% × 150) + (10% × 80)

= $200 + $80 + $45 + $8

= $333

Contribution margin per unit:

= Selling price - Variable cost

= $500 - $333

= $167

Increase in profits:

= Contribution margin per unit × Number of units offer to purchase

= $167 × 400 units

= $66,800

7 0
3 years ago
Distinguish between the costs of having a basic checking account and an interest-bearing checking account.
USPshnik [31]
Basic Checking account vs interest-bearing checking account.
The main difference of these two accounts is the interest. 
Basic checking account does not earn interest. Regardless of how long the money stays in the bank, whatever amount it is, it is still the same amount. 
Interest-bearing checking account as the name implies earns interest. Sometimes, it must maintain a certain amount for it to earn interest. 
Both accounts may have atm access or online/mobile access aside from its check book. Both accounts may also be subject to penalties if its balances fall below the required minimum maintaining account.  

5 0
4 years ago
Read 2 more answers
During July at Pool Company, $65,000 of raw materials were requisitioned from the storeroom for use in production. These raw mat
QveST [7]

Answer:

$4,000

Explanation:

Preparation of the journal entry.

Based on the information given we were told that The indirect materials totaled the amount of $4,000 which means that the appropriate journal entry to record this requisition would include a DEBIT TO MANUFACTURING OVERHEAD of the amount of $4,000.

(To record requisition)

6 0
3 years ago
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