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ohaa [14]
3 years ago
9

You have a credit card with a balance of $10,900 and an APR of 17.1 percent compounded monthly. You have been making monthly pay

ments of $215 per month, but you have received a substantial raise and will increase your monthly payments to $265 per month. How many months quicker will you be able to pay off the account
Business
2 answers:
sladkih [1.3K]3 years ago
8 0

Answer:

months quicker = 91 months - 62 months = 29 months

Explanation:

using a financial calculator

SET  calculator to a 12 months interval payments

PV = -$10.900, r= 17.1%, FV=0, ,PMT = $215

COMPUTE N?

N= 90.58 ≈ 91 months

Raise and new pmt =265

N=62.35≈62 Months

VMariaS [17]3 years ago
5 0

Answer:

Approximately 15 months quicker

Explanation:

A = PMT(1+r/100)^t

where r = monthly rate = 17.1/12=1.425%

t= time in months

PMT = monthly payments

A= Amount = $10,900

Case 1; At PMT of $215

Therefore,

10,900 = 215(1 + 0.01425)^t

1.01425^t= 50.7

Solving for t, t= 277.46 months

Case 2; At PMT of $265

Therefore,

10,900 = 265(1 + 0.01425)^t

1.01425^t= 41.13

Solving for t, t= 262.68 months

The months quicker = 277.46 - 262.68 = 14.78 months

Approximately 15 months quicker

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kobusy [5.1K]

Answer:

a. involve a high degree of trust and confidence.

Explanation:

A fiduciary relationship exist when an individual places  responsibilities on the other party, to help him carry out  duties or act for the benefit of the party. It is otherwise called a confidential relationship and it requires special trust, confidence and reliance.  

6 0
3 years ago
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on whic
Orlov [11]

Answer:

9644

Explanation:

cost of paper on which a card is printed = $0.40 per card

cost of printing = $0.10 per card

profit made per card sold = $3.75

number of areas where customers are located (n)= 4

mean of customers from each region = 2300

standard deviation for each region = 200

note : each region is independent

The optimal production quantity for the card can be calculated going through these steps

first we determine

the cost of card = $0.10 + $0.40 = $0.50

selling value = $3.75

salvage value = 0

next we calculate for the z value

= ( selling value - cost of card) /  ( selling price - salvage value )

= ( 3.75 - 0.50 ) / 3.75  = 0.8667

Z( 0.8667 ) = 1.110926 ( using excel formula : NORMSINV ( 0.8667 )

next we calculate

<em>u</em> = n * mean demand

  = 4 *  2300 = 9200

б = 200\sqrt{n} = 200 * 2

  = 400

Hence optimal production quantity for the card

= <em>u</em> + Z (0.8667 ) * б

= 9200 + 1.110926 * 400

= 9644.3704

≈ 9644

3 0
3 years ago
Is Criminal investigator a venture?<br> thanks
finlep [7]

Explanation:

Is there a private detective that the venture capital company contracts? Does it investigate the start fraud? Answer 5 SHART Redux Time Reports REQUEST PLUS REQUID TIME REPORTS can be far from this growth list. Have you ever been online and offline? Later below the procedure for reporting such incidents. 1 Answer  Paul Cohn, I made that VC answered on August 4, 2015. Risk capital Working process is very complete and it will be difficult to detect any kind of fraud. VC sometimes helps diligent using an external company. In general, VCs do not adopt private detective, but often use a company that verifies the background verification. Some of the background control companies may exceed recording recording, but can do a private research work as necessary, but it does not happen frequently (it has never disappeared so much disappeared). The records are considering the following: Confirmation of training for education A pre-employment confirmation is to find legal issues that participate in personal credit issues and find false statements of the contractor / administration team. With regard to your education and employment history, it may be possible to see if you have other legal and credit problems, do not disclose. It is very unusual to find a "fraud", but it is possible to make sure that VC asks entrepreneurs questions, and at least the contractor can confirm that all the company's product events fully advertise that you can find it. After the investment.

6 0
2 years ago
Read 2 more answers
On December 31, 2019, Irey Co. has $3,000,000 of short-term notes payable due on February 14, 2020. On February 8, 2020, Irey bo
svet-max [94.6K]

Answer:

$1,800,000

Explanation:

Given short term notes payable = $3,000,000

Total amount used to liquidate short term notes = $2,200,000

Balance = $3,000,000 - $2,200,000 = $800,000

The additional $1,200,000 which is borrowed from Country Bank will not increase the short term notes payable because it's a long term credit

The additional $1,000,000 cash used will now be added to the balance amount

Amount to be reported as current liabilities = $1,000,000 + $800,000

= $1,800,000

Therefore the amount of the short-term notes payable that should be reported as current liabilities on the December 31, 2019 balance sheet which is issued on March 5, 2020 is $1,800,000

3 0
3 years ago
A graduated commission employee makes 3. 5% interest on the first $50,000 in sales and 6. 5% interest on all sales over $50,000.
Harman [31]

The correct form of expression to express the context earning on the sales of the products is  (0. 035)(50,000) (0. 065)(81,500).

The context is about a graduate who earns on the basis of commission on the fixed amount of stock. On the sale of the first $ 50,000, he is getting 3.5% and the sales above $50,000 he is getting a commission of 6.5%.

Thus, the rate of 3.5% will be multiplied with the sales of %50,000, and the rate of 6.5% will be multiplied by the number of sales above $50,000 that is $81,500.

Therefore, the correct option is a.

To know more about the expressions that express the total earning of the employee, refer to the link below:

brainly.com/question/2337923

8 0
2 years ago
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