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3 years ago

Jim Smith borrowed $2,000 at a 6% add on rate for two years What is the finance charge ? Show your calculations below.

Business

1 answer:

Natalija [7]3 years ago

4 0

Answer:

the finance charge is $420

Explanation:

Finance charge constitutes Interest cost to be paid on the loan. Interest compensate the lender for forgoing the alternative of investing the money elsewhere.

Annual finance charge :

Interest charge = $2,000 x 6% = $120

After two years :

Interest charge = $120 x 2 = $420

Therefore, the finance charge is $420.

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payment history and total debt, together, comprise of 65% of your score. why do you think it’s so high?

Otrada [13]

<u>Solution and Explanation:</u>

Most money related specialists characterize a terrible FICO rating as anything beneath a 600, however, every loan specialist has its own principles while checking on applications. The normal American has a FICO assessment of 687, which helps put the range into viewpoint.

In the event that you have poor credit, you've presumably had a blend of negative things on your credit report, as missed installments, misconducts, or possibly a chapter 11 or dispossession. You can generally demand a free credit report to make sense of what precisely is keeping your score so low. Truth be told, we prescribe checking your credit report each year.

Government law permits you access to a free duplicate of every one of your three reports like clockwork, so there's no explanation not to exploit this advantage.

6 0

4 years ago

Ireland reports the following international transaction information. (in â¬ millions) Exports of goods 79,186 Imports of goods 4

OlgaM077 [116]

Answer:

Current account balance= - 1,897 millions

Explanation:

Given:

Exports of goods = 79,186

Imports of goods = 45,765

Exports of services = 33,573

Imports of services = 46,216

Income received from abroad = 28,456

Income payments to abroad = 51,571

Unilateral transfers = 440

Find:

Current account balance

Computation:

Current account balance = Exports of goods + Exports of services - Imports of goods - Imports of services + Income received from abroad + Unilateral transfer - Income payments to abroad

Current account balance = 79186 - 45765 + 33573 - 46216 + 28456 - 51571 + 440

Current account balance= - 1,897 millions

7 0

3 years ago

Cassie has a line of vanilla-scented body lotion. She has recently decided to add vanilla-scented body scrub and vanilla-scented

Stels [109]

The answer is D. Line extension

8 0

3 years ago

Read 2 more answers

Vaughn Manufacturing has two divisions; Sporting Goods and Sports Gear. The sales mix is 75% for Sporting Goods and 25% for Spor

Cerrena [4.2K]

Answer:

The correct answer is 35%.

Explanation:

According to the scenario, the computation of the given data are as follows:

We can calculate the Weighted average contribution margin ratio by using following formula:

weighted-average contribution margin ratio = (Contribution margin ratio × Sales of sporting goods) + (Contribution margin ratio × Sales of sporting gears)

= ( 30 × 75% ) + ( 50 × 25%)

= 22.5% + 12.5%

= 35%

3 0

3 years ago

Which theoretical perspectives would view television and movies as a form of big business in which profits are more important th

Vadim26 [7]

Answer:

Conflict

Explanation:

Please refer below the complete question, there were following options

functionalist

conflict

symbolic interactionist

agrarian

6 0

4 years ago