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
BaLLatris [955]
2 years ago
7

Jamie lee received an offer to transfer the balance of all of her store credit cardsto her bank credit card in the mail. It offe

red zero percent finance charges/interestfor the first three months (90 days), and an 18.5 percent interest rate thereafter until the balance is paid in full. Upon reading the fine print, she saw there was a $50 transaction fee and interest accrued from he day the balance transfer was made if the balance was not paid in full within the first 90 days.
Required:
a. How could Jamie Lee use this balance transfer offer to her advantage?
b. How is this offer a major disadvantage to Jamie Lee?
Business
1 answer:
Mars2501 [29]2 years ago
4 0

Answer and Explanation:

As in the given situation, Jamie lee have a benefit from the transfer in the case when the interest on the store credit card would be higher than the $50 for the first 90 days

1.  If we assume that the date of the payment is one month but she does not have the money to make the payment so she can transfer the balance to the credit card so that she get 2 more months to make the payment

2. This could become the disadvantage when the payment is not done within the 90 days as she have to pay the interest of 18.5% on the tital amount also the transaction fee would also be paid

You might be interested in
The management of Unter Corporation, an architectural design firm, is considering an investment with the following cash flows:
Taya2010 [7]

Answer:

6.50 Years

Explanation:

The computation of the  payback period of the investment is shown below;

Total cash outflow is

= $15,000 + $8,000

= $23,000

Now the Cash Inflow in all 6 years is

= $1,000 + $2,000 + $2,500 + $4,000 + $5,000 + $6,000

= $20,500

Cash inflow in Year 7 is $5,000.

But Cumulative Cash flows from Year 1 to Year 7 is

= $20,500 + $5,000

= $26,500

This amount is more than Initial Investment  i.e. $23,000.

So our Payback period is between 6 & 7 years i.e.  

= 6 + ($23,000 - $20,500) ÷ 5000

= 6.50 Years

7 0
2 years ago
Your text indicated that several groups were protected by federal equal opportunity legislation. In these examples, indicate whe
ehidna [41]

Answer:

a. A recently retired military veteran was not offered a job for which she was qualified.  Yes ( Veterans)

b. A Mormon says his religion forbids him to work on certain days.  Yes ( Religion)

c. A person who is hearing impaired claims she is disabled.  Yes (Disability)

d. A homosexual applicant wasn’t hired because of his sexual orientation. Yes (Sex: Sexual orientation)

e. A male wasn’t hired for a sales position in a retail store specializing in women’s shoes.  Yes (Sex)

f. A 24-year old woman wasn’t hired for a managerial position because she was too young.  No ( Age considerations begins from 40)

g. A Norwegian applicant claimed he wasn’t hired because a Chinese restaurant hired only Asians.  Yes (national origin)

h. A light-skinned African American would not hire a dark-skinned African American.  Yes (genetic discrimination)

i. A store wouldn’t hire anyone with a college degree because it thought they were snobs. No

j. A fast-food chain refused to hire any males with long hair. No

Explanation:

The federally protected class are a group of people whom the law in the United States protects from discrimination especially in the employment setting. They are grouped under race, religion, sex, pregnancy, familial, national origin, genetic discrimination, veterans, and disability. Options f, i, and j do not fall under these classes.

f. The age discrimination in Employment Act applies for people from the age of 40.

i. College degree is not a consideration among the federally protected class.

j. Gender or sex is not the issue here but a feature of the gender.

4 0
3 years ago
Crusher Company has provided the following data for maintenance cost:
Firdavs [7]

Answer:

Total Fixed Cost: $13,020

Explanation:

Fixed cost is calculated using high low method.

High low method seeks to find variable cost per hour / unit by dividing the difference of cost (total cost at two levels) with difference of activity level. Than variable cost is reduced from total cost to identify the fixed cost. Below is the calculation:

Current year cost: $ 37,850        Current year machine hours: 19,100

Prior year cost:      $ 33,300        Prior year machine hours:     15,600

Variable cost per machine hour = <u>Current year cost - Prior year cost</u>

                                      Current year machine hour - prior year machine hour

Variable cost per machine hour: <u>37,850 - 33,300</u> = $1.30 per machine hour

                                                       19,100 - 15,600

Variable cost current year: ($1.30 * 19,100) = $24,830

Variable cost prior year: ($1.30 * 15,600) = $20,280

Fixed cost: Total cost - variable cost

Fixed cost current year: 37,850 - 24,830 = $13,020

Fixed cost prior year:     33,300 - 20,280 = $13,020

7 0
3 years ago
What are 3 benefits of the Pay down credit card feature in Quickbooks Online?
enot [183]

Answer:

b or e

Explanation:

8 0
3 years ago
Nutech Corp. is expecting the following cash flows—$79,000, $112,000, $164,000, $84,000, and $242,000—over the next five years.
Alja [10]

Answer:

$429,560

Explanation:

Present value will be calculated through the PV formula,

PV = \frac{C1}{1+r}  + \frac{C2}{(1+r)^{2} } + \frac{C3}{(1+r)^{3}} + \frac{C4}{(1+r)^{4}} + \frac{C5}{(1+r)^{5}}

r = 15%

C1 = $79,000 ,C2 = $112,000 ,C3 = $164,000 ,C4 = $84,000 ,C5 = $242,000

Substituting the values in the formula,

PV = \frac{79,000}{1.15}  + \frac{112,000}{(1.15)^{2} } + \frac{164,000}{(1.15)^{3}} + \frac{84,000}{(1.15)^{4}} + \frac{242,000}{(1.15)^{5}}

PV = 68,695.66 + 84,688 + 107,838 + 48,030.2 + 120,338.14

PV = $429,560

The present value of the cash flows of Nutech Corp. over the next five years is $429,560.

8 0
3 years ago
Other questions:
  • Connor Corp. has large amount of data that they are trying to analyze from the last 15 years. They have an arithmetic sales grow
    10·1 answer
  • Label the following hypothetical demand scenarios. Use the midpoint method.
    5·1 answer
  • The term illustration in a life insurance policy refers to
    7·1 answer
  • In 1980 Denmark had a GDP of $70 billion (measured in U.S. dollars) and a population of 5.1 million. In 2000, Denmark had a GDP
    6·1 answer
  • Glover Corporation issued $2,000,000 of 7.5%, 6-year bonds dated March 1, with semiannual interest payments on September 1 and M
    12·1 answer
  • Stockholders' equity:________A. Is equal to assets minus liabilities B. Represents the interest of the owners in the assets of a
    15·1 answer
  • The days sales in recievable for baker sales is 35 the days sales in receivables for xanadu company is 25 this suggest xanadu is
    8·2 answers
  • MC Qu. 157 Current information for the... Current information for the Healey Company follows: Beginning raw materials inventory
    12·1 answer
  • Is the concentration ratio an accurate measure of the extent of​ competition?
    13·1 answer
  • Which characteristic is not reflective of a successful entrepreneur?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!