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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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pickupchik [31]

accelerated filer, A company reporting requirements for five years and has an aggregate worldwide market cap of $300 million is an accelerated filer.

More about accelerated filer?

A publicly traded company that, as of the end of its fiscal year, satisfies each of the following requirements:

  • As of the final business day of the company's most recent completed second fiscal quarter, the total worldwide market value of the voting and non-voting common equity held by its non-affiliates (or public float) was $75 million or more but less than $700 million.
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7 0
1 year ago
Completed Per Day
Ratling [72]

Answer:

The correct option is A, Samantha weed and Adam will rake because these are the goods each has a comparative advantage in.

Explanation:

The opportunity formula comes handy in this case, which is given below:

opportunity cost formula=what one sacrifices/what one gains

If Samantha were to weed flower beds, opportunity cost is computed thus:

Opportunity cost of Samantha weeding flower beds=8/4= 2 bags of leaves raked

The opportunity of Adam weeding flower beds=25/5 =5 bags of leaves raked.

In a nutshell ,if Samantha weeds flowers they would lose 2 bags of leaves raked while if Adam were to do so same, they would lose 5 bags of leaves raked, conclusively Samantha should weed flower beds since she has lower opportunity, higher comparative advantage

4 0
3 years ago
Answer the following questions about prepaid​ expenses:
pochemuha

Answer:

the numbers are missing, so I looked for a similar question:

a. On ​1, Tree Service prepaid $7,200 for six​ months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts​ involved, and show their balances at adjusts the accounts only at ​31, the end of its fiscal year.

Dr Rent expense 1,200 (= $7,200 / 6)

    Cr Prepaid rent 1,200

Balances:

Prepaid rent 6,000

Rent expense 1,200

b. On ​1, Tree Service paid $1,050 for supplies. At ​31, has $400 of supplies on hand. Make the required journal entry at 31. Then post all amounts to the accounts and show their balances at 31. Assume no beginning balance in supplies.

Dr Supplies expense 650 (= $1,050 - $400)

    Cr Supplies 650

Balances:

Supplies 400

Supplies expense 650

c. On ​1, Tree Service prepaid for six​ months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts​ involved, and show their balances at adjusts the accounts only at ​31, the end of its fiscal year. Prepare the adjusting journal entry to record the rent expense at 31.

SAME AS QUESTION A

6 0
3 years ago
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mel-nik [20]

Answer: is Option D:<u> All of the above are reasons to need information provided by marketing research</u>.

Explanation:

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6 0
3 years ago
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algol [13]

Answer:

D) credible commitment

Explanation:

This is basically an exclusive supplier agreement since Sparkling Leaves and Stan Motors signed a contract that lasts 15 year, and it states that Sparkling Leaves will provide automobile tools only to Stan Motors and Stan Motors will only purchase the tools they need from Sparkling Leaves.  

Such a contract needs a serious and credible commitment between both parties, since it lasts several years and it binds both companies to work together exclusively for that period.

5 0
3 years ago
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