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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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The difference between overhead applied to work in process and actual overhead is ______. Multiple choice question. ending work

FromTheMoon [43]

debits Depreciation expense, while the other debits Manufacturing overhead

Yw and pls mark me as brainiest

5 0

2 years ago

The amount of material used in making a custom sail for a sailboat is normally distributed with a standard deviation of 64 squar

Advocard [28]

Answer:

option (B) 912 ± 42.6

Explanation:

Data provided in the question:

Standard deviation = 64 square feet

Sample size, n = 15

Mean = 912

Confidence level = 99%

Now,

Confidence interval = Mean ± z[s ÷ √n]

here,

z = 2.58 for 99% confidence level

Thus,

Confidence interval = 912 ± 2.58[64 ÷ √15]

Confidence interval = 912 ± [ 2.58 × 16.525 ]

Confidence interval = 912 ± 42.63

= 912 ± 42.6

Hence,

The answer is option (B) 912 ± 42.6

8 0

3 years ago

On January 1, Year 3, Wayfarer Co.'s assets were $330,000 and its stockholders' equity was $146,000. During the year, assets inc

cricket20 [7]

Answer:

The Balance of stockholder's equity at December 31 Year 3 is $180000.

Explanation:

The basic accounting equation states that Assets are always equal to the sum of Liabilties and Equity.

Thus, the equation can be written as:

Assets = Liabilities + Equity

The libilities at the start of the year were,

330000 = Liabilities + 146000

Liabilities = 330000 - 146000 = $184000

If Liabilities at the end were 16000 less than at start, Closing balance of Liabilities will be 184000 - 16000 = $168000

The Closing balance of assets will be 330000 + 18000 = $ 348000

The closing balance of Stockholder's equity at Dec 31 Year 3 is:

348000 = 168000 + Equity

Equity = 348000 - 168000 = $180000

8 0

3 years ago

Read 2 more answers

An insurance company’s projected loss ratio is 77.5 percent, and its expense ratio is 23.9 percent. It estimates that dividends

Elanso [62]

Answer:

6.4%

Explanation:

For computing the minimum yield on investment, first we have to find out the combined ratio which is shown below:

= Projected loss percentage + expense ratio + dividend percentage

= 77.5% + 23.9% + 5%

= 106.4%

So, the minimum yield on investment required is

= 106.4% - 100%

= 6.4%

The 100% is the percentage value

We simply applied the above formula

6 0

3 years ago

Using the Boston Consulting Group growth-share matrix, the managers of Xylicon International determined that their business unit

brilliants [131]

Answer:

D. Increase investment in the personal health monitoring unit to encourage future growth.

Explanation:

Using the Boston Consulting Group growth-share matrix, the managers of Xylicon International determined that their business unit devoted to personal health monitoring devices was a star. Based on this finding, they should Increase investment in the personal health monitoring unit to encourage future growth. Stars are termed, defined and categorized as the high-share and high-growth businesses which most of the times needs some kind of huge investments for their rapid and speedy growth. They can ultimately be turned down into cash cows which are the highly profitable products for any organizations, therefore, as personal health monitoring devices are star for Xylicon International, therefore, they are required to increase investment for these products in order to make them their cash cows. They can huge profits by spending on this segments which definitely has huge growth potential.

8 0

3 years ago