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3 years ago

Three examples of when interest rates are bad for you

Business

1 answer:

Elis [28]3 years ago

4 0

Answer:

Below you will find three examples of when the interest rate is bad for you:

Credit cards interest rate
Overdraft interest rate
Default or late payment interest rate

Explanation:

1. Credit cards interest rate: When you purchase a good or service with your credit card you must pay the price of it plus an interest rate.

2. Overdraft interest rate: When you are overdraft in your current account you must pay an interest rate for the mount overdrawn

3. Default or late payment interest rate: When you make a late payment or fail to pay an installment in your credit you must pay a fee calculated in an additional interest rate,

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3 years ago

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3 years ago

In order to have competition in a market economy, there must be at least _____ or more sellers acting independently in a particu

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2 years ago

On November 1, Jasper Company loaned another company $100,000 at a 6.0% interest rate. The note receivable plus interest will no

allochka39001 [22]

Answer:

Explanation:

The journal entry is shown below:

Interest receivable A/c Dr $1,000

To Interest revenue A/c $1,000

(Being accrued interest is recorded)

The computation of accrued interest is presented below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)

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3 years ago

In 2020, Creeper Corporation had a $4,000 net long-term capital loss that it could not carry back. For 2021, it reported the fol

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Answer:

d. Net long-term capital gain of $1,000

Explanation:

2020, $4,000 net long-term capital loss that it could not carry back.

2021, Long-term capital gain $2,000

2021, Short-term capital gain $3,000

In 2021, Creeper would reports a:

Net long-term capital gain = Long-term capital gain + Short-term capital gain - Net long-term capital loss

Net long-term capital gain = $2,000 + $3,000 - $4,000

Net long-term capital gain = $1,000

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3 years ago

Three examples of when interest rates are bad for you​

Three examples of when interest rates are bad for you