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sasho [114]
3 years ago
13

Your bank card has an APR of 18% and there is a 2% fee for cash advances. The bank starts charging interest on cash advances imm

ediately. You get a cash advance of $1,200 on the first day of the month. You get your credit card bill at the end of the month. What is the approximate total finance charge you will pay on this cash advance for the month
Business
1 answer:
Marina86 [1]3 years ago
4 0

Answer:

$42

Explanation:

APR = 18% , month rate = 18%/12 = 1.5%

Fee for cash advance = 2%

Cash advance of the first day of month = $1,200

Finance charge = Cash advance * (Monthly rate + Advance cash fee)

Finance charge = $1,200*1.5% + $1,200*2%

Finance charge = $18 + $24

Finance charge = $42

So, the approximate total finance charge i will pay on this cash advance for the month is $42

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TYR just announced yesterday that its fourth-quarter earnings will be 35% lower than last year's fourth quarter. You observe tha
makkiz [27]

Answer: Investors expected the earnings increase to be smaller than what was actually announced.

Explanation:

Abnormal return on an asset such as stock refers to the difference between actual returns and expected returns. As such, if it is positive, that would mean that the actual returns are/ will be higher than the expected/anticipated returns.

TYR had an abnormal return of 3.7% which would mean that the the 35% lower fourth-quarter earnings was higher than investors expected from TYR.

4 0
3 years ago
Aiello, Inc. had the following inventory in fiscal 2016. The company uses the LIFO method of accounting for inventory. Beginning
quester [9]

Answer:

The correct answer is B. $1,800.00

Explanation:

LIFO Perpetual table is attached.

The table shows purchases, sales and balance of each period.

As the final inventory is 120 units, we suppose the sales of the year.  Applying LIFO,  our ending inventory cost is 120 units, each one at $15

So,  total cost is $1800 (120* 15)

Download xlsx
8 0
3 years ago
HELLLPPPP
marin [14]

Answer: Mary

Explanation:

GDP simply means the gross domestic product and it is the value in terms of money based on the goods and services that a country produces.

With regards to the question, Mary is right as the GDP can be used to denote economic growth and also know how a particular economy is doing. Wealthy nations usually have a huge GDP.

3 0
3 years ago
A company purchases shipments of machine components and uses this acceptance sampling plan: Randomly select and test 26 componen
Inessa [10]

Answer: 0.7973

Explanation:

Binomial probability formula :-

P(x)=^nC_x\ p^x(1-p)^{n-x}, where P(x) is the probability of getting success in x trials , p is the probability of success in one trial and n is the number of trials.

Given : The probability of getting a defect components : 0.06

If randomly select and test 26 components , then the probability that this whole shipment will be accepted will be :-

P(x

Hence, the  probability that this whole shipment will be accepted = 0.7973

7 0
3 years ago
The American Eagle chain of retail stores has a reputation as one of the "coolest" brands according to Teen Research Unlimited.
katovenus [111]

Answer:

(a) Men and women aged 16 to 22

Explanation:

The teens nitch is defined from 13 to 19 years old, therefore the youngster in the age from 16 to 22 is the optimal market for American Eagle.

3 0
4 years ago
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