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postnew [5]
3 years ago
13

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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he following information for Cooper Enterprises is given below: December 31, 2021Assets and obligations Plan assets (at fair val
gavmur [86]

Answer:

the amortization of Other Comprehensive Loss for 2022 is $38,370

Explanation:

The computation of the amortization of Other Comprehensive Loss for 2022 is shown below;

= (Accumulated other comprehensive loss - 10% of Projected benefit obligation)  ÷ given no of years

= ($503,700 - 10% of $1,200,000) ÷ given no of years

= ($503,700 - $120,000) ÷ 10 years

= $38,370

hence, the amortization of Other Comprehensive Loss for 2022 is $38,370

The same would be considered

7 0
3 years ago
In a purely competitive labor market, each firm employs such a ______ fraction of the total available supply of a specific type
Bezzdna [24]

Answer:

small; wage rate

Explanation:

The purely competitive market is a wage taker as there are many number of firms who wants to purchase the labor services in that market also there are many number of workers who have similar skills and wants to sell their labor services

So as per the given situation, the each and every kind of firm wants to employs a small fractions of total supply available so that no firm could influence the wage rtae

Therefore the last option is correct

6 0
3 years ago
Which statement is generally true of an investment that is highly volatile but has superior, long-term real rates of return?
Elenna [48]
Which statement is generally true of an investment that is highly volatile but has superior, long-term real rates of return?
<span>
It has low liquidity because selling would often require selling at a loss.

High volatile investments are investments that always fluctuates in the market. It can generate you very high income or very low income. It has low liquidity because when you sell it right away, you tend to sell at a loss.</span>
6 0
3 years ago
Culver Company has an old factory machine that cost $64,500. The machine has accumulated depreciation of $36,120. Culver has dec
enot [183]

Answer: The machine cost 64,500 and has accumulated depreciation of 36,120 so the book value of the machine is (64,500-36,120)=28380

The book value of the machine is 28380 so if the machine is sold for 32,250 then the gain on sale is (32,250-28380)= 3,870

                                                Debit                             Credit

Cash                                          32,250

Machine                                                                         28,380

Gain on sale                                                                    3,870

If the machine is sold for 19,350 then there will be a loss on the sale of the machine and the loss will be debited. (28380-19350)=9,030

                                                Debit                             Credit

Cash                                         19,350

Loss on sale                               9,030

Machine                                                                          28,380

Explanation:

4 0
3 years ago
Most colleges and universities have a campus activity board that brings entertainers and special events to campuses. To locate a
Ratling [72]

Answer:

(C)

Explanation:

Premiums is something given as a reward, prize, or incentive.

In this case, the college entertainers offered an incentive or reward (premiums) to the people who came to see them perform.

The shirts would encourage the people who came to see them perform to be present some other time.

For example, a grocery store may give free sweets to children who accompany their parents to the store.

3 0
3 years ago
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