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3 years ago

No more than 10% of your monthly income should go toward credit card payments.. . false. . true.

Business

2 answers:

8_murik_8 [283]3 years ago

5 0

Answer:

True

Explanation:

Generally speaking if you must use more than 10% of your monthly income to pay for your credit card expenses, it means that you are buying too many things on credit. A credit card usually carries a relatively high APR, and the debt tends to pile up especially if you only pay the minimum. So it would be a good idea to try to save some money and try to reduce your credit card balance by paying the largest possible amount and then start to control your spending habits.

evablogger [386]3 years ago

4 0

FALSE. Pay down the credit card, 100%, FIRST because it's probably the most expensive credit you have. Don't put things on the credit card that you won't be able to pay for this month.

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Suppose you can afford to invest $1,000 each month into an account that pays 15% per year. How many years will you need to make

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Answer:

Explanation:

Rate per period =15% = 15/12 monthly

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3 years ago

The graph represents the supply and demand curve for chocolates in the economy. Identify the price and quantity at which there w

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Answer:

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Explanation:

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3 years ago

Which of the following is true of liquidity? Select one: a. Liquidity metrics include debt ratio, times interest earned, and rat

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Answer:

c. Liquidity is the ability to convert assets to cash.

Explanation:

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3 years ago

Lisa has $1,000 in cash today. Which one of the following investment options is most apt to double her money? A. 6 percent inter

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Answer:

D. 8 percent interest for 9 years

Explanation:

We would use the formula future value formula below to determine which of the investment options would double her money:

FV=PV*(1+r)^n

PV is the amount invested which is $1000

r is the interest rate expected to be earned while n is the number of years First option:

FV=$1000*(1+6%)^3

FV=$1,191.02

Second option:

FV=$1000*(1+12%)^5

FV=$1,762.34

Third option:

FV=$1000*(1+7%)^9

FV=$ 1,838.46

Fourth option:

FV=$1000*(1+8%)^9

FV=$2000

Last option:

FV=$1000*(1+6%)^10

FV=$ 1,790.85

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3 years ago