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Reil [10]
2 years ago
11

Why is it more difficult to get out of debt when only paying the minimum payment?

Business
1 answer:
Artyom0805 [142]2 years ago
7 0

When one keeps paying only the minimum amount, they will find getting out of debt harder because:

  • More interest will accrue on the balance left

When a person pays the minimum balance that they are supposed to pay on a loan, they will be leaving a larger portion of money to be paid back.

This amount will accumulate interest such that the debt will keep increasing because the interest needs to be paid back as well.

In order to get out of debt faster, it is recommended that you pay higher than the minimum because this would reduce the amount that interest is charged on which means that you would owe less interest.

In conclusion, paying the minimum balance leads to more interest accumulating which makes getting out of debt difficult.

<em>Find out more at brainly.com/question/13711677.</em>

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Which of the following is not one of the four types of analyses outlined in the text as a method for analyzing sales organizatio
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Answer:

e. market-share analysis.

Explanation:

e. market-share analysis because it is not only dependent on sales. Other factors are other industries markets total sales . It is not directly associated with analyzing sales organization effectiveness. Sales organization is responsible for selling and obtaining maximum profits. Optimum profits through least investments is their primary objective. Market share analysis is dependent on a particular period and the sales  during that period ,target company's sales and total market sales.

8 0
2 years ago
A depreciable asset has an estimated 15 percent salvage value. At the end of its estimated useful life, the accumulated deprecia
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Answer:

B

Explanation:

Depreciation is the uniform decrease in the value of an asset over a period until the salvage value is reached.

It is given by :

Annual depreciation expense = (cost of asset - salvage)÷ useful life of the asset

Therefore the accumulated depreciation would not equal the original cost of the asset at the end of its estimated useful life because the salvage value will be deducted from cost of asset under declining-Balance.

7 0
3 years ago
You are advising a local nonprofit on strategy. The nonprofit supports cancer research and relies entirely on donations. You rec
Aleksandr [31]

Answer:

E). Use inexpensive digital marketing tools to inform the community about an upcoming fundraising event.

Explanation:

The 'use of inexpensive digital marketing tools for informing the community regarding the approaching fundraising event' would be the most appropriate and feasible for the non-profit organization as it would be the most reasonable for the firm. A big-budget expense on marketing the event would neither be affordable due to the small budget nor beneficial for such an organization. Thus, using inexpensive digital marketing would publicize the event on an affordable budget and prove helpful in gathering good collections in the event. Hence, <u>option E</u> is the correct answer.

5 0
3 years ago
Assume a company makes only three products, B, C, and D:
Vsevolod [243]

Answer:

d) $13

Explanation:

contribution margin per unit:

  • product B = $45
  • product C = $39
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contribution margin per machine hour:

  • product B = $45 / 2.5 = $18
  • product C = $39 / 3 = <u>$13</u>
  • product D = $25 / 1.25 = $20

the company should first produce 800 units of product D and use 1,000 machine hours. Then it should produce 680 units of product B using 1,700 machine hours. In order to produce the remaining 20 units of product B and the 600 units of product C, the company must rent machine hours and the maximum possible price per hour is $13 (contribution margin per machine hour product C).

8 0
2 years ago
Tanuja Singh is a CPA and operates her own accounting firm (Singh CPA, LLC). As a single-member LLC, she reports her accounting
AnnyKZ [126]

Answer:

Tanuja is not entitled to a QBI deduction in 2019.

Explanation:

Tanuja has QBI from her accounting firm of $540,000

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Taxable income before the QBI deduction = $475,000

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Her accounting firm is a "specified services" business and she and her spouse's taxable income before the QBI deduction is $475,000, which exceeds the threshold for 2019.

6 0
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