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r-ruslan [8.4K]
3 years ago
11

Mark decides to only pay the minimum payment each month of $15 for his credit card. He continues to charge purchases to the cred

it card at a monthly average of $400 a month. How long will it take for Mark to reach his maximum limit, or max out his credit card?
Business
1 answer:
sladkih [1.3K]3 years ago
6 0
25 hours max wo0ld take him thagtlong 
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Answer:

$20,000

Explanation:

Break-even sales is the point of sales at which the business incur no profit no loss. At this level of sale the business covers all of the variable and fixed cost associated with the product. Break-even is expressed in sales volume and sales value terms.

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As we know

Sales price = Variable cost + Contribution margin

Sales price = Variable cost ratio + Contribution margin ratio

100% = 40% + Contribution

Contribution = 100% - 40% = 60%

Fixed Cost = $12,000 Per month

Break-even sales  = Fixed Cost / Contribution margin ratio

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Answer:

the correct answer is

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