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3 years ago

What is a future consequence of making minimum payments each month?

Business

1 answer:

Luden [163]3 years ago

6 0

Answer:

A: a longer period in debt

Explanation:

Minimum payments are generally associated with credit card debts. A credit card allows the user to spend on credit. At the end of every month, the credit card company sends the customer a statement detailing the amount they owe. The statement shows the total outstanding amount and the minimum amount payable.

Paying the total outstanding amount clears the total credit card debt helping the customer avoid interest charges. Paying the minimum amount means the customer will have a balance carried forward to the following month, attracting interest charges.

Paying the minimum amount allows the user to continue using the credit card. There will be a balance carried forward and interest charges if only the minimum amount is paid. Due to the high-interest rates that credit cards charge, the debts increase exponentially. The cardholder will require a long time to clear the debts, which means that the interest charges and penalty amounts will be high.

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4 years ago

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3 years ago

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3 years ago

Read 2 more answers

Each of the following scenarios will result in either a shift in the supply curve for labor or a change in the quantity supplied

postnew [5]

Answer and Explanation:

The changes and direction of each point is described below:-

a. As the resort needs new workers, this moves the demand curve to the right, so that salaries rise, and therefore higher wages contribute to an increase in the quantity offered to the right.

So, the correct answer is it will change the quantity and move in the right direction.

b. If more work visas are provided, supply will switch due to factors other than salaries and supply curve

So, it will change in supply and move in the right direction.

c. More labor is needed for more chicken plants, this will move the demand curve to the right so that wages will rise, and therefore higher wages will lead to an increase in the in quantity supplied to the right

So, the correct answer is it will change the quantity and move in the right direction.

d. Since the production house will now require fewer people, wages will decrease so that the quantity supplied will decrease and the quantity supplied will, therefore change to the left.

So, the correct answer is it will change the quantity supplied and move in the left direction.

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4 years ago