Answer:
a. $5
b. $4
c. $6
Explanation:
a. store A?
Beginning balance = $300
Ending balance = $300 - $100 = $200
Average balance = ($300 + $200) ÷ 2 = $250
Monthly APR = 24% ÷ 12 = 2%
June finance charge = Average balance × Monthly APR = $250 × 2% = $5
b. store B
June finance charge = (Beginning balance - Payments) × Monthly APR = ($300 - $100) × 2% = $4
c. store C?
June finance charge = Beginning balance × Monthly APR = $300 × 2% = $6
Answer:
The answer is D
Explanation:
Depreciation is best described as An estimate of how much of a tangible asset has been used during an accounting period: considered an expense that does not require any cash outflow under the accrual basis accounting.
Depreciation reduces the value of an asset and it reduces it over the life span of an asset. Depreciation is a non cash reduction. Depreciation tells us how much the value of an asset has reduced.
The formula is (cost of the asset - any residual value) ÷ the number of useful life span
Answer:
$481
Explanation:
Amount paid = Amount lent - Amount left
Amount paid = $14,033 - $8,261
Amount paid = $5,772
Average amount paid each month = Amount paid / Number of months
Average amount paid each month = $5,772 / 12
Average amount paid each month = $481
So, the average amount of Diego's monthly payments is $481.
Answer: increase by $80 million, and the maximum money-lending potential of the commercial banking system will increase by $400 million
Explanation:
Based on the information given in the question, the money multiplier will be calculated thus:
Money multiplier = 1/Required reserve ratio
where,
Required reserve ratio = 20%
Money Multiplier will now be:
= 1/0.20
= 5
Therefore, the maximum money-lending potential will be:
= $80 million × 5
= $400 million
Therefore, the money supply will by $80 million, and the maximum money-lending potential of the commercial banking system will increase by $400 million
Answer:
I would need a computer and then a laptop to work fast as I can and that will make me get more money
