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Colt1911 [192]
3 years ago
14

You have a credit card account with a previous balance of $635. You added two additional purchases for $75 and $50 during this b

illing period. You made a payment of $150. Your APR is 16.5%. Using the adjusted balance method, what is your new balance?​
Business
2 answers:
AleksandrR [38]3 years ago
8 0

Answer:

The new monthly balance will be $618.235.

Explanation:

Since you have a credit card account with a previous balance of $ 635, and you added two additional purchases for $ 75 and $ 50 during this billing period, and then you made a payment of $ 150 and your APR is 16.5%, to determine what is your new balance using the adjusted balance method, the following calculation must be performed:

(635 + 75 + 50 - 150) x (1 + 0.165 / 12) = X

610 x 1,0135 = X

618.235 = X

Thus, the new monthly balance will be $618.235.

Iteru [2.4K]3 years ago
3 0

Answer:

$618.39

Explanation:

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Gillian is consuming her optimal consumption bundle of peanuts and raisins. The marginal utility associated with the last peanut
olchik [2.2K]

Answer: The price of peanuts realitve to that of raisins must be 2.

Explanation: Mathematically, relative prices are defined as:

Relative price of Good A with respect to Good B = Price of A / Price of B

So: Relative price of peanuts respect to raisins = Price of peanuts / Price of raisins

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<u>Relative price of peanuts respect to raisins = 4 / 2 = 2.</u>

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3 0
3 years ago
arn​ Basket, Ltd., sells​ hand-knit scarves. Each scarf sells for​ $40. The company pays​ $150 to rent a vending space for one d
spayn [35]

Answer:

The total revenue needed to break even is $206.90 per day

Explanation:

The break even point of revenue is the total revenue earned by the firm where total revenue equals total cost and there is no profit or no loss. The break even in dollars can be calculated using the following formula,

Break even in dollars = Fixed cost / Contribution margin ratio

Contribution margin ratio = (Selling price per unit - variable cost per unit) / Selling price per unit

Contribution margin ratio = (40 - 11) / 40 = 0.725 or 72.50%

The fixed cost per day is the cost of the vending space of $150.

Break even in dollars = 150 / 0.725   = $206.896 rounded off to $206.90

8 0
2 years ago
GG Inc. uses LIFO. GG disclosed that if FIFO had been used, inventory at the end of 2021 would have been $16 million higher than
g100num [7]

Answer:

In a situation where FIFO had been used, its reported net income for 2020 would have been $12 million higher than using LIFO for its financial statements.

Explanation:

The Ending Inventory of 2020 would have been $16 million higher in a case where FIFO had been used.

Hence, The Higher ending inventory will tend to means the lower cost of goods sold as well as the higher income which means that if FIFO had been used,the income of 2020 would have been higher by $16 million.

Income tax rate = 25%

The first step is to calculate for the Increase in Income tax expense

Using this formula to calculate for the Increase in Income tax expense

Increase in Income tax expense = Increase in Income x Income tax rate

Let plug in the formula

Increase in Income tax expense= 16 x 25%

Increase in Income tax expense= $4 million

The second step is to calculate for the Increase in Income net income

Using this formula

Increase in net income = Increase in income - Increase in Income tax expense

Let plug in the formula

Increase in net income = 16 - 4

Increase in net income = $12 million

Therefore in a situation where FIFO had been used, its reported net income for 2020 would have been $12 million higher than using LIFO for its financial statements.

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3 years ago
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Setler79 [48]
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2 years ago
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The activity concerned with the production of goods and services is called​
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