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lesya692 [45]
3 years ago
13

You have just entered an MPP program and have decided to pay for your living expenses using a credit card that has no minimum mo

nthly payment so you will not be making any payment while you pursue your education. You intend to charge $1500 per month on the card for the next 21 months. The card carries a monthly interest rate of 1%. How much money will you owe on the card 22 months from now, when you receive your first statement post-graduation
Business
1 answer:
frez [133]3 years ago
4 0

Answer:

$35,207.37

Explanation:

Future value = Monthly payment * [ [(1 + r)^n – 1 ] / r ] * (1 + r)

Future value = $1500 * [ [(1 +0.01)^21 - 1] / 0.01 ] * 1 + 0.01

Future value = $1500 * [[1.01^21 - 1] / 0.01] * 1.01

Future value = $1500 * [[1.23239194035 - 1] / 0.01] * 1.01

Future value = $1500 * [0.23239194035/0.01] * 1.01

Future value = $1500 * 23.23919 * 1.01

Future value = $35207.37285

Future value = $35,207.37

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luda_lava [24]

Answer:

Depreciation expense is added back to net income when preparing the cash flow from operating activities section because depreciation represents a non cash reduction to net income. Depreciation is a non cash reduction because it notes down the the reduction in the value of an asset due to use as an expense and because the company isn't making any cash transactions due to depreciation of assets therefore it is a non cash expense and this is why it is added back to net income when preparing cash flow from operating activities.

Explanation:

4 0
3 years ago
Describe a social enterprise
adelina 88 [10]

A social enterprise is a  business that tries to solve

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8 0
3 years ago
The depositors of JS bank were worried that the value of this​ bank's assets was less than the value of its​ liabilities, so the
MissTica

This expanding panic and rising flood of withdrawals is called Bank Run.

<u>Explanation: </u>

Bank run means many customers of the bank withdraw their deposits due to the fear that the bank might become insolvent. When many customers withdraw their funds then the bank might not be able to meet the withdrawals with the available funds.

This further increases the risk of the bank to default when all the customers withdraw their deposits. This is because the banks hold only little amount as cash in hand while the rest of the bank's wealth is invested in long term assets.

3 0
3 years ago
The practice of making false statements about a property in order to lower its value and increase the buyer’s profit is called:
ArbitrLikvidat [17]

Answer:

Blockbusting

Explanation:

The practice of making false statements about a property in order to lower its value and increase the buyer’s profit is called Blockbusting. Blockbusting is the method of convincing landlords to sell estate cheaply, which was done by the U.S. property agents and construction developers and they do this by developing terror in the people that people with different racial and class will be soon relocating in the neighborhood and hence benefiting via reselling at a more expensive cost.

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3 years ago
Consider a competitive market for a consumer product. Suppose this product goes out of fashion with consumers. How will this sud
Olenka [21]

Answer:B

Explanation:

Bc

8 0
3 years ago
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