1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Strike441 [17]
3 years ago
6

Caitlin has a credit card with a spending limit of $1500 and an APR (annual percentage rate) of 18%. During the first month, Cai

tlin charged $375 and paid $250 of that in her billing cycle. Which expression will find the amount of interest Caitlin will be charged after the first month?
Business
1 answer:
gayaneshka [121]3 years ago
8 0
Given:
Spending limit: 1500
APR: 18%
Purchases: 375
Payment 250

Divide the APR by 360 days and multiply it by 30 days to get the monthly rate.

18% / 360 = 0.05% 
0.05% x 30 = 1.5%

1.5% will be multiplied to the remaining balance in the first month.

375 - 250 = 125
125 x 1.5% = 1.875 

1.875 is the interest charged after the first month. 
You might be interested in
he initials GAAP stand for a. Generally Accepted Accounting Principles b. Generally Accepted Accounting Practices c. General Acc
Bess [88]

Answer:

Correct option is (a)

Explanation:

GAAP is the abbreviation for Generally Accepted Accounting Principles. These are guiding principles that help in recording accounting transactions. These are developed over the course of time and includes comprehensive guidelines used by accountants over the years in preparing financial statements.

GAAP ensures reliability and comparability of financial statements.

5 0
3 years ago
Shanken corp. issued a 30-year, 5.9 percent semiannual bond 6 years ago. the bond currently sells for 108 percent of its face va
bazaltina [42]

The pre-tax cost of debt is yield to maturity of the debt.

The yield to maturity of debt is calculated as -

Yield to maturity = ]Coupon payment + ( Face value - Current price) / Number of years)] / [ ( Face value + Current price) / 2]

Here,

Coupon payment = $ 29.50 (semi-annual, thus 5.9% / 2 * 1000)

Face value = $ 1,000

Price = $ 1,000 * 108% = $ 1,080

Number of years = 12 ( semi-annual, thus 6 years * 2)

Pre-tax cost of debt = [ 29.50 + (1,000 - 1080/12)] / [ (1000+1080)/2 ]

Pre-tax cost of debt = 2.196 %

Annual pre-tax cost of debt = = 2.20 % * 2 = 4.40%

After tax cost of debt = ( 1 - tax rate ) * Annual pre-tax cost of debt

After tax cost of debt = ( 1 - 35%) * 4.40 %

After tax cost of debt = 2.86 %

6 0
3 years ago
When Frito-Lay introduced its Stax brand of potato chips. These chips were meant to compete directly against Pringles. The inten
Sedbober [7]

Answer:

B, penetration pricing

Explanation:

Penetration pricing is a pricing strategy in which a manufacturer sets the price of its product low for a start so as to have a wide reach and acceptability in the market.

This pricing strategy is meant to make customers ditch their usual product for the new product, thereby having the new product attracting customers to itself.

Ultimately, penetration pricing increases market share of the new product manufacturer as it gains a lot of customers within the shortest possible time.

Penetration helps to discourage new product entrance into the market thus giving the product a large/high stock turnover throughout the product's distribution channel.

In the above question, Frito lay introduced its chips at a low price of 69cents for a period of time (first few months, say 3 or 4 months for example) in order to gain market share quickly.

Cheers

3 0
3 years ago
Bigbucks Brokerage provided the taxpayer $2,400 in bicycle commuting reimbursement in 2020. How much of that reimbursement, if a
blsea [12.9K]

Answer:

Bigbucks Brokerage

The whole amount of $2,400 must be included in the taxpayer's income.

Explanation:

The Bicycle Commuting Reimbursement in 2020, given under a Bicycle Commuter Tax Benefit program, is taxable as income to the employee. According to the provisions of the Tax Cut and Jobs Act, the restriction placed on the Bicycle Commuter Tax Benefit will expire in 2026.  The bicycle commuting reimbursement is a benefit that can only be offered by employers and is regarded as a taxable benefit to the affected employee.

5 0
2 years ago
One negative consequence of using automation to improve manufacturing production is that:
melamori03 [73]

Answer:

The correct answer is letter "A": factories often need fewer workers.

Explanation:

Automation is the introduction of machinery in manufacturing companies with the intention of mass-producing standardized goods in an attempt to reduce costs by using large lines of equipment instead of more human labor hand. While this represents an advantage for companies, it is a drawback for employees who see their job duties being handled to machines.

Automation is used in different industries such as <em>utilities, defense, </em>and <em>information technology.</em>

5 0
3 years ago
Other questions:
  • If you want an indication of the direction a business is​ taking, you would use A. vertical analysis. B. trend percentages. C. b
    6·1 answer
  • Once you are signed up for overdraft protection, you cannot opt out?<br>True or False​
    15·1 answer
  • Flyer estimates bad debt expense assuming that 1% of credit sales have historically been uncollectible. How much is Flyer’s bad
    12·1 answer
  • Carrie has to decide between going to a football game or going to the movies. She decides to go the football game. Which of the
    5·1 answer
  • Patrick Enterprises recently installed a parking lot. The paving costs were $38,750, and the lighting costs were $20,000. In add
    14·1 answer
  • Fixed costs included in this income statement are $2,000 for meal production and $400 for administrative costs. Maria has receiv
    9·1 answer
  • The payments a business makes for investing in capital expenses are known as : A) profits
    8·2 answers
  • If a community college decided to build an academic building, then the money and resources would not be available for a parking
    9·1 answer
  • Clark purchased a life insurance policy on himself and made his son, Russ, the beneficiary. Unfortunately, while Clark was takin
    10·1 answer
  • The following cost behavior patterns describe anticipated manufacturing costs for 2019: raw material, $7.50/unit; direct labor,
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!