All categories

3 years ago

The annual interest rate on a credit card is 17.99%. If a payment of $200.00 is

Business

1 answer:

Iteru [2.4K]3 years ago

5 0

Answer:

It would take a total of 14.572001 Months to pay off the balance, with interest

Explanation:

$2470.04 Would take 12.6 months to pay off, therefore, you must apply 17.99% yearly interest to this figure.

$2470.04 * .1799 = $444.36 interest

Principal + interest = total

$2470.04 + $444.36= $2914.4

$2914.4 / $200 = 14.57 months

You might be interested in

Breezy Company is considering the replacement of equipment that has a current book value of $340,000. Breezy has an oppprtunity

Rzqust [24]

Answer:

$340,000

Explanation:

A sunk cost is a cost that has already been incurred and cannot be affected by any decision that someone makes. E.g. once you pay an expense like rent, the cost will not be recovered or altered by any decision that you make. Sunk costs is simply money that has been spent and cannot be recovered.

7 0

3 years ago

Elizabeth Kennedy sells beauty supplies. Her annual demand for a particular skin sparkle is 17,000 units. The cost of placing an

elena-s [515]

Answer:

The minimum cost will be "$214085".

Explanation:

$D = 1700 units \\\\S = \$ 50 \\\\H= 20%\\$

i) When quantity = 1-1500, price = $ 12.50 , and holding price is $12.50 * 20 %= $2.50.

ii) When quantity = 1501 -10,000, price = $ 12.45 , and holding price is $12.45 * 20 %= $2.49.

iii) When quantity = 10,0001- and more, price = $ 12.40 , and holding price is $12.40 * 20 %= $2.48.

$EOQ= \sqrt{\frac{2DS}{H}} \\\\EOQ1= \sqrt{\frac{2\times 17000\times 50}{2.50}} \\\\EOQ1=824.62 \ \ \ or \ \ \ 825\\$

$EOQ2= \sqrt{\frac{2\times 17000\times 50}{2.49}} \\\\EOQ1=826.2T \ \ \ or \ \ \ 826\\$

$EOQ3= \sqrt{\frac{2\times 17000\times 50}{2.48}} \\\\EOQ3=827.93 \ \ \ or \ \ \ 828\\$

know we should calculate the total cost of EOQ1 and break ever points (1501 to 10,000)units

$total \ cost = odering \ cost + holding \ cost + \ Annual \ product \ cost\\\\total_c = \frac{D}{Q} \times S + \frac{Q}{2} \times H + (p \times D) \\\\T_c = \frac{17000}{825} \times 50+ \frac{825}{2} \times 2.50 + (12.50 \times 17000)\\\\T_c = 1030 .30 +1031.25+212500\\\\T_c =$ 214561.55\\\\$

$T_c = \frac{17000}{1501} \times 50+ \frac{1501}{2} \times 2.49 + (12.45 \times 17000)\\\\T_c = 566.28 +1868.74+211650\\\\T_c =$ 214085.02 \ \ \ or \ \ \ $ 214085\\\\$

$T_c = \frac{17000}{10001} \times 50+ \frac{10001}{2} \times 2.48 + (12.40 \times 17000)\\\\T_c = 84.99+ 12401.24+210800\\\\T_c =$ 223286.23 \\$

The total cost is less then 15001. So, optimal order quantity is 1501, that's why cost is = $214085.

5 0

3 years ago

The Fantastic Ice Cream Shoppe sold 8,800 servings of ice cream during June for Dollar 5 per serving. The shop purchases the ice

Anuta_ua [19.1K]

Answer:

The Fantastic Ice Cream Shoppe

a) Fantastic Ice Cream Shoppe

June Income Statement, using traditional format

Sales Revenue $44,000

Cost of goods sold 5,720

Gross profit $38,280

Expenses:

Rent expense 2,050

Depreciation exp. 220

Other operating exp. 2,800

Total expenses $5,070

Net Income $33,210

b) Fantastic Ice Cream Shoppe

June Income Statement, using contribution margin format

Sales Revenue $44,000

Direct materials 5,720

Operating expense 700

Total variable expense 6,420

Contribution margin $37,580

Fixed expenses:

Rent expense 2,050

Depreciation exp. 220

Other operating exp. 2,100

Total expenses $4,370

Net income $33,210

Explanation:

a) Data and Calculations:

Sales of ice cream during June = 8,800 servings

Price per serving = $5

Sales revenue = $44,000 ($5 * 8,800)

Purchase cost of ice cream in large tubs = $14 * 8,800/28 = $4,400

Purchase cost of ice cream cones = $0.15 * 8,800 = $1,320

Total cost of direct materials = $5,720

Fixed costs:

Rent = $2,050 per month

Depreciation = $220

Other operating expenses:

Fixed operating expense = $2,100 ($2,800 * 75%)

Variable operating expense = $700 ($2,800 * 25%)

3 0

3 years ago

What do individual shareholders gain when they buy shares of a company’s stock?

Darina [25.2K]

I think the answer is A

4 0

4 years ago

You are writing a feasibility report about the possibility of an office site in Cambridge consolidating with your Boston site. W

spayn [35]

Answer:

A feasibility report is a paper that examines a proposed solution and evaluates whether it is possible, given certain constraints. It includes six sections: introduction, background information, requirements, evaluation, conclusions, and finally, the recommendation or final opinion section.

How a feasibility report should be written:

1. Write a Project Description. At this step, you need to collect background information on your project to write the description. ...

2. Describe Possible Solutions. ...

3. List Evaluation Criteria. ...

4. Propose the Most Feasible Solution. ...

5 Write a Conclusion.

Explanation:

The feasibility report will look at how a certain proposal can work on a long-term basis or endure financial risks that may come. It is also helpful in recognizing potential cash flow. Another important purpose is that it helps planners focus on the project and narrow down the possibilities.

A feasibility report is a document that assesses potential solutions to the business problem or opportunity and determines which of these are viable for further analysis.

3 0

3 years ago