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sasho [114]
2 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]2 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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He formal decision-making process used when considering the economic feasibility of implementing information security controls a
mrs_skeptik [129]

He formal decision-making process used when considering the economic feasibility of implementing information security controls and safeguards is called a CBA

WHAT IS A CBA ?

CBA stands for cost benefit analysis .

Businesses utilize a cost-benefit analysis as part of a systematic procedure to determine which options to take and which to ignore.

The cost-benefit analyst adds up the potential benefits anticipated from a circumstance or course of action before deducting the overall expenses related to that course of action.

It has the following benefits -

  1. Increased income and sales as a result of greater production or new goods.
  2. Benefits that can't be seen, such higher employee morale and safety, as well as increased consumer satisfaction via better products or quicker delivery.
  3. Gained market share or a competitive advantage as a result of the choice.

To learn more about CBA click here :

brainly.com/question/15411875

#SPJ4

6 0
1 year ago
The system that compares actual results to a budget so that significant deviations can be flagged and investigated further is ca
horrorfan [7]

The system that compares actual results to a budget so that significant

deviations can be flagged and investigated further is called management by

exception

Management by exception is the type that helps the managers to focus on

the most important variances while ignoring unimportant changes between

the budget and actual results.

This is commonly used in budgets preparation to ensure that the important

factors which may affect project completion are taken into consideration to

prevent shortages.

Read more on brainly.com/question/25408603

4 0
2 years ago
Tidy Limited purchased a new van on January 1, 2018. The van cost $32,000. It has an estimated life of eight years and the estim
Cloud [144]

The adjusted balance in the Accumulated Depreciation account at the end of 2019 is <u>$14,000</u>.

<u> Explanation</u>:

<em><u>Given</u></em>:

Cost of van= $32,000

Estimated residual value= $3,200

Straight-line Depreciation Rate= 1/8

                                                = 0.125

Straight-line Depreciation Rate= 12.5%

Declining Balance Rate = 2 ×12.5%

                                             = 25%

Double declining balance can be calculated with the following formula:

2 x basic depreciation rate x book value

By applying the values,

The adjusted balance in the Accumulated Depreciation account= $14,000.

7 0
2 years ago
Chelsea Fashions is expected to pay an annual dividend of $1.26 a share next year. The market price of the stock is $24.09 and t
Stells [14]

Answer:

a. 7.83 percent

Explanation:

This is calculated by using the Gordon growth model (GGM) formula as follows:

P = d / (r - g) ……………………………………… (1)

Where;

P =  market price of the stock = $24.09

d = next year annual dividend = $1.26

r = cost of equity = ?

g = dividend growth rate = 2.6%, or 0.026

Substituting the values into equation and solve for r, we have:

24.09 = 1.26 / (r - 0.026)

24.09 (r - 0.026) = 1.26

24.09r - 0.62634 = 1.26

24.09r = 1.26 + 0.62634

24.09r = 1.88634

r = 1.88634 / 24.09

r = 0.0783038605230386, or 7.83038605230386%

Rounding to 2 decimal places. we have:

r = 7.83%

Therefore, the correct option is a. 7.83 percent.

3 0
2 years ago
PLEASE HELP ASAP!! CORRECT ANSWER ONLY PLEASE!!!Type the CORRECT answer in the box.
Mariulka [41]

Answer:

105.88

Explanation:

The consumer price index measures the changes in price of a basket of good. It is used to measure inflation.

CPI = Current year price / base year price x 1000

90/85 x 100 = 105.88

7 0
2 years ago
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