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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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Marci Luner is going over the finances of her clothing boutique firm. If her firm has a net income of​ $131,000 and net sales of
MaRussiya [10]

Answer: The profit margin is 22.35 %

Explanation: The formula for profit margin is net profit/ income ÷ net sales.

As such, the profit margin is (131000 ÷ 586000) x 100 = 0.2235 * 100 = 22.35 %

6 0
3 years ago
Gorton's sells Gorton's Fish Sticks, Gorton's Fish Fillets, and Gorton Grilled Fish. This is an example of
dimaraw [331]

Answer:

The correct answer is letter "A": family branding.

Explanation:

Family branding is a strategy entrepreneurs follow by naming the same or partly equal different businesses with diverse markets to take advantage of the reputation one of those businesses have obtained. The naming is legal and in most cases represents a partnership between those businesses or a license given by the main company to allow others to use part of the same name in exchange for a fee.

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3 years ago
Public Domain
Arte-miy333 [17]

Answer:

a

Explanation:

3 0
3 years ago
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The measures used by an organization to provide reasonable assurance that the organization produces reliable financial reports,
const2013 [10]

Answer:

The correct answer is letter "A": The internal control structure.

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6 0
3 years ago
If the Japanese production function is Cobb–Douglas with capital share 0.3, output growth is 3 percent per year, depreciation is
miss Akunina [59]

Answer: The saving rate is 0.30

Explanation:

The Golden Rule savings rate is referred to as the rate of savings which maximizes steady state level or growth of consumption.

Let k be the capital/labour ratio (i.e., capital per capita), y be the resulting per capita output ( y = f(k) ), and s be the savings rate. The steady state is referred to as a situation in which per capita output is unchanging, which implies that k be constant. This requires that the amount of saved output be exactly what is needed to one quip any additional workers and two replace any worn out capital.

In a steady state, therefore: sf(k)=(n+d)k

Growth rate of output =3%

Depreciation rate= 4%

Capital output ratio is (K/Y)

= 2.5

Begin the steady state condition:

S= ( σ + n + g) (k/Y)

S= (0.03+0.04) (2.5)

S= 0.175

Golden rule steady state

MPK= (0.03+0.04)= 0.07

Capital output ratio=

K/Y= Capital share / MPK

K/Y= 0.3/0.07

K/Y= 4.29

In the golden state, the capital output ratio is equal to 4.29 in comparison to the current capital ratio 2.5.

The saving rate consistent with the steady growth rate

S= ( σ + n + g) (k/Y)

S= (0.03 +0.04) (4.29)

S= 0.30

The saving rate that is consistent with the steady growth rate is 0.30

6 0
3 years ago
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