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kirill [66]
2 years ago
11

A consumer charges a $2,530. 16 purchase on their credit card. The card has a daily interest rate of 0. 42%. If the consumer pay

s off the balance at the end of 30 days, how much more in interest will they pay for the purchase? a. $0. 32 b. $3. 19 c. $31. 88 d. $318. 78 Please select the best answer from the choices provided A B C D.
Business
1 answer:
aleksandr82 [10.1K]2 years ago
8 0

Answer:

C. $31.88 is the correct answer.

Explanation:

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What does family heirloom mean?
Verdich [7]
Something that is treasured in the family, it could be almost anything
8 0
3 years ago
Read 2 more answers
Consider the following information about a banking system: new currency deposited in the system = $40 billion, legal reserve rat
Vlada [557]

Answer:

The bank will create excess reserve of $200 billion

Explanation:

The question measures the size of credit expansion associated with the new currency deposit. the computation below shows how excess reserves can be computed.

Money multiplier              =   1 /Legal Reserve Ratio  = 1/0.2 = 5

Excess Reserve Created = A x (1 /Legal Reserve Ratio)

Where:                          A  = New currency deposit =  $40

       Legal Reserve Ratio = 0.20      

                                     

Excess Reserve Created = $40 x (1/0.2)  =  $40 x 5 =  $200 billion                                          

The legal reserve of 5 indicates that for every unit of money reserved by banks, they are able to create 5 units of same.

The money creation capability of the banking system as a whole is depends on the legal reserve ratio. Legal reserve ratio is a fraction of a bank deposit which the law requires them to hold. The bank can only lend the balance after deducting the legal reserve.

3 0
3 years ago
Vent, Inc. reported net income of $770,000 for 20X1. Vent sold 15,000 shares of treasury stock acquired in a previous year on Ju
gulaghasi [49]

Answer:

1. Weighted average number of outstanding shares = 150,000*12/12 + 15,000*6/12 + 15,000*2/12

Weighted average number of outstanding shares = 150,000 + 7,500 + 2,500

Weighted average number of outstanding shares = 160,000 shares

2. Net income = $770,000

Preferred dividend = 20,000 shares*$100*7%

Preferred dividend = $140,000

Income attributable to common stockholders = Net income - Preferred dividend

Income attributable to common stockholders = $770,000 - $140,000

Income attributable to common stockholders = $630,000

Basic Earnings per share = Income attributable to common stockholders / Weighted average number of outstanding shares

Basic Earnings per share = $630,000/160,000

Basic Earnings per share = $3.94

3. Diluted EPS = Net income / [Weighted average number of common shares outstanding during the period + All dilutive potential common stock]

Diluted EPS = $770,000 / (160,000 + 20,000*2)

Diluted EPS = $770,000 / 200,000 shares

Diluted EPS = $3.85 per share

8 0
3 years ago
Company X had net income of $200,000 in the year 2016. At the beginning of 2016, there were 500,000 shares of outstanding common
EleoNora [17]

Answer:

Basic earning per share $0.21 per share

Explanation:

Basic Earning per share = ( Net Income - Preferred stock dividend ) / Weighted Average outstanding shares

Basic Earning per share = ( $200,000 - $50,000 ) / 700,000

Basic Earning per share = $150,000 / 700,000

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Weighted average Outstanding shares = 500,000 + 200,000

Weighted average Outstanding shares = 700,000 shares

5 0
3 years ago
Let RUS be the annual risk free rate in the United States, RUK be the risk free rate in the United Kingdom, F be the futures pri
jeka57 [31]

Answer:

If RUS > RUK, then E < F ( C )

Explanation:

RUS = annual risk free rate in united states

RUK = annual risk free rate in United kingdom

F = futures price of $/BP  for 1 year

E = spot exchange rate for $/BP

To get a higher the future price

this conditions must be met

The annual risk free rate of the united states must be higher than the annual risk free rate of the united kingdom. if this condition is met then the the British pound will have a forward premium ( F ) > ( E )

3 0
3 years ago
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