Answer:
B. the minimum amount a borrower must pay back each month.
Explanation:
A credit card is the credit facility that the credit card company issues to the credit cardholder. The credit card facilities allow the cardholder to make payments for goods and services on credit up to a set limit. Sine credit card is a debt; the credit card company issues a statement at the end of every month to claim payments from the cardholder.
The credit card statement contains the outstanding statement balance and the minimum monthly payment. The customer is advised to clear all the outstanding balance to avoid interest fees. However, if the customer cannot settle the entire balance, they must pay the minimum balance. Failure to pay the minimum balance is defaulting on the credit card and comes with heavy penalties.
Answer:
The airline training school can run maximum of 10 sessions.
Explanation:
There can be 10 sessions which can be held at the training school. The airline school needs to have enough attendants so that they do not run a session in spare capacity. If a session is run with few attendants then it will cost $15,000 per session which is an additional cost burden for the airline training school.
They were both cases of the consumerist culture that rose in the 1920's. Consumer culture is a type of free enterprise in which the economy is centered around the offering of customer merchandise and the spending of shopper cash. Most financial analysts concur that the United States is a buyer culture.
Answer:
a. $207,000
Explanation:
The cash flow statement categories the company's transactions in a financial period into 3 groups; these are operating, investing and financing.
The net profit/loss, depreciation, changes in current assets (other than cash) and liabilities are considered as operating activities including income taxes.
The sale of assets, interest received, purchase of investments are examples of investing activities while the issuance of stocks, debt principal deduction (loan settlement), issuance of debt securities etc are examples of financing activities.
An increase in assets other than cash is an outflow while an increase in liabilities is an inflow. Depreciation and other non-cash expenses deducted in the income statements are added back while the non-cash income such gain on asset are deducted from net income.
The Net Cash Flow from Operating Activities
= $210,000 - $9,000 + $8,000 - $2,000
= $207,000
Answer:
The actual effective annual rate is <u>3.33%</u>.
Explanation:
Effective Annual Rate (EAR) refers to an interest rate has been adjusted for compounding over specified period of time.
Effective annual rate can therefore be described as the interest rate that paid to an investor in a year after compounding has been adjusted for.
Effective annual rate can be computed using the following formula:
EAR = [(1 + (i / n))^n] - 1 .............................(1)
Where;
i = Annual interest rate claimed by the dealer = 3.28%, or 0.0328
n = Number of compounding periods or months = 12
Substituting the values into equation (1), we have:
EAR = [(1 + (0.0328 / 12))^12] - 1 = 0.0332976137123635
EAR = 0.0333, or 3.33% approximately.
Therefore, the actual effective annual rate is <u>3.33%</u>.
