How much interest would be paid on a credit card at the end of the second 30-day month on a one-year $1,000 loan at a 12.99% annual rate? Assume you pay nothing at the end of the first 30-day month.
a. $109.10
b. $10.92
c. $108.10
d. $10.91
e. $10.80

Answers

Answer 1

The amount of interest that would be paid on a credit card at the end of the second 30-day month is equal to: E. $10.80.

Given the following data:

Principal = $1,000Interest rate = 12.99%Time = 30 days

Conversion:

365 days = 1 year

30 days = X year

Cross-multiplying, we have:

[tex]365X = 30\\\\X=\frac{30}{365}[/tex]

X = 0.08219 year

To determine the amount of interest that would be paid on a credit card at the end of the second 30-day month:

First of all, we would calculate the simple interest for the first 30-day month:

Mathematically, simple interest is given by the formula:

[tex]S.I = \frac{PRT}{100}[/tex]

Where:

S.I is the simple interest.P is the principal amount.R is the interest rate.T is the time measured in years.

Substituting the given parameters into the formula, we have;

[tex]S.I = \frac{1000 \times 12.99 \times 0.08219}{100}\\\\S.I = \frac{1067.648}{100}[/tex]

Simple interest = $10.6765

[tex]S.I = 1000 + 10.6765[/tex]

S.I = $1010.6765.

Now, we can determine the amount of interest that would be paid on a credit card at the end of the second 30-day month:

[tex]S.I_2 = \frac{1010.6765 \times 12.99 \times 0.08219}{100}\\\\S.I_2 = \frac{1079.05}{100}[/tex]

Interest = 10.79$10.80.

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Related Questions

A(n) will carry out the terms of a will after a person has passed away.​

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Answer:

An Executor will carry out the terms of a will after a person has passed away.

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Monetary policy can be either expansionary (growing)or contractionary (becoming smaller).

what is the purpose of expansionary monetary policy?

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C. to increase real output in the economy

HEY!!^^

have a good day!^^

thank me later

carryonlearing


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Answer:

B

Explanation:

LRAS can do both

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The seller refused to sell because the buyer was a minority. The broker could


legally do all except:


Sue for his commission.


Inform the prospective buyer that help may be available from HUD.


Inform the seller that a possible violation of Federal Fair Housing Laws has occurred.


Show the property only to non-minorities per the seller's instructions.

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There are different reasons why people take decisions. The broker could

legally do all except Sue for his commission.

A seller may rejects an offer due to different reasons.  Sellers often doo have several options when they are receiving a bid for their property. It is better to make a counteroffer with revisions when your offer is being rejected.

A seller is known too be able to counter and ask for changes to the fastesr money deposit, purchase price etc. In the above scenario, the Sue for his commission is not necessary in this case.

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1. WHO CAN DO AFFILIATE MARKETING?

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Answer:

anyone

Explanation:

is this the only question?

6.You now have the agreement with the company and will sign the contract as you and the company are satisfied with the contract agreement. Of course, this is will be your first step to build a strong relationship between you and your employer. Your manager will know more about you. This represent which of the negotiation process element?


A- Gather information

B- Manage concessions

C- Manage time

D- Build the relationship


7.You and the other party have either come to an agreement on the terms, or one party has decided that the final offer is unacceptable and therefore must be walked away from. Most negotiators assume that if their best offer has been rejected, there’s nothing left to do. You made your best offer and that’s the best you can do. This represent which of the negotiation process element?


A- Gather information

B- Manage concessions

C- Manage time

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8.Assemble the information you’ve gathered in a way that supports your position. You can present facts that show what you will contribute to the organization in the future, which in turn demonstrates your value. This represent which of the negotiation process element?


A- Gather information

B- Manage concessions

C- Manage time

D- Build the relationship

Answers

A- Gather information

B- Manage concessions

C- Manage time

D- Build the relationship

7.You and the other party have either come to an agreement on the terms, or one party has decided that the final offer is unacceptable and therefore must be walked away from. Most negotiators assume that if their best offer has been rejected, there’s nothing left to do. You made your best offer and that’s the best you can do. This represent which of the negotiation process element?

A- Gather information

B- Manage concessions

C- Manage time

D- Build the relationship

8.Assemble the information you’ve gathered in a way that supports your position. You can present facts that show what you will contribute to the organization in the future, which in turn demonstrates your value. This represent which of the negotiation process element?

A- Gather information

B- Manage concessions

C- Manage time

D- Build the relationship

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$1000 coupons for coupons ignore liquidity premium bond you’re so mature healed to maturity a temperature of a tree family ancient mayonnaise

Intermediaries are businesses involved in selling the goods and services of producers to consumers and other businesses.

b. False
a. True

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Answer:

A.true

am i right

Explanation:

correct me if im wrong

thanks

loveya

while calculating the coefficient of correlation between two variables x and y, the following results were obtained: n=25,

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Answer:

therefore,the domain of the logarithmic function y=x is the set of positive real number and the range is the set of rwal number.

help pls im having trouble understanding this question

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i think you add all the numbers together then convert that number into a percentage

This year Andrews achieved an ROE of 30.2%. Suppose next year the profit margin (Net Income/Sales) increases. Assuming sales, assets and financial leverage remain the same next year, what effect would you expect this action to have on Andrews's ROE

Answers

It Is expected that Andrew's ROE would increase.

ROE is a short form of return on equity. ROE is a profitability ratio.  It measures the ability of a firm to generate profits from its asset

Return on equity = net income / average total equity

ROE can be decomposed into:  

ROE = profit margin x asset turnover x financial leverage

ROE = (Net income / Sales) x (Sales/Total Assets) x (total asset / common equity)

If, profit margin increases, ROE would also increase.

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Help help help help help help

Answers

the answer I think is c

Explanation:

for the reason I have no clue I just joined and said to do this so just ignore me

Select the correct answer
What type of income is received through rent?
A. earned income
B. passive income
C. portfolio income
D. business income

Answers

It is B. passive income

Answer:

earned income is received through rent

Help help businesses please please

Answers

Answer:

C

Explanation:

LRAS would shift left because there would be fewer workers available to produce goods at any given price. however sras is capable of shift left and right.

hope this helps <3

The circular flow of income model shows

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b. that producers supply products and demand resources.

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e. all of the above

Answer:
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the correct answer is letter C:)

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Answer:

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Explanation:

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What role do you think Netflix and social media
played in popularizing Marie Kondo? Do you think
the popularity of the show "Tidying up with Marie
Kondo' is based on Marie Kondo only, or would any
other personality achieve similar results?

Answers

Netflix and social media  played an important role in popularizing Marie Kondo.

Yes, Netflix and social media  played an important role in popularizing Marie Kondo because the program of Marie Kondo is viewed by million of people across the world through the Netflix and social media and people are loving it which increase the popularity of Marie Kondo.

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This SKU has an inconsistent product classification with the ASIN. Please submit a feed to update this SKU to match the ASIN product classification

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It should be noted that a stock-keeping unit (SKU) means a scannable bar code that is usually seen on product labels that are in a retail store.

Your information is incomplete. Therefore, an overview of SKU will be given. The stock-keeping unit (SKU) allows vendors to be able to track the movement of their inventory.

On the other hand, ASIN stands for Amazon Standard Identification Number. It is a ten letters unique identifier for a product that is given by Amazon.

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WILL GIVE BRAINLIEST
Refer to Figure 33-2. A decrease in taxes would move the economy from Q to

a) P in the short run and the long run
b) R in the short run and the long run
c) P in the short run and O in the long run
d) R in the short run and Q in the long run

Answers

I think that the answer would be A. I hope you forgive me if I am wrong

A decrease in taxes would move the economy from Q to P in the short run and O in the long run. Thus, option D is correct.

What is an economy?

Economics seems to be the science of how individuals and groups allot limited resource for output, allocation, and consumer. Both micro and macro are really the two subfields of economic. Performance in trade and producing is the main concern of finance.

This graph shows the change that has been taking a long with respect to the change in quantity or the change in price.

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Therefore, option D is the correct option.

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B. An article about the company in a city newspaper
C. An Internet advertisement
D. A phone conversation with an employee of the company
Please select the best answer from the choices provided
Ο Α
B
ОООО
OD

Answers

Answer:

as a consumer myself, I would most likely trust an article about the company in the city newspaper or a conversation with an employee

Explanation:

Xavier needed a new business credit card. After evaluating many choices, he decided to sign up for an American
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a

Answers

Integrated Marketing Communications is often used in marketing. The IMC tools that were used to facilitate this process is email, survey and social media.

Integrated Marketing Communications os known to be described as putting together or the integration of marketing tools examples advertising, online marketing, etc.

They are known to be promotional tools that are said to be very effective when they used together.

IMC seeks to make a stress-free experience for its customers. The Tools of Integrated Marketing Communications includes

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Jack is a 74-year-old, single taxpayer whose income consists of $10,000 in wages and $31,000 in social security benefits. The maximum amount he can contribute to a Roth IRA for 2019 is: A) $0 B) $6,000 C) $7,000 D) $10,000

Answers

Based on his age and income, the maximum that Jack is able to contribute to a Roth IRA in 2019 is C. 7,000.

In the year 2019, tax laws were such that:

$6,000 was the maximum to be contributed to Roth IRA. $1,000 could be contributed in excess by those above the age of 50.

As Jack is above the age of 50, he can contribute an extra $1,000 over the limit which puts him at:

= 6,000 + 1,000

= $7,000

In conclusion, Jack can contribute a maximum of $7,000.

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Jerome is assisting with strategic planning for his organization's information system. He knows that information system organizational strategy is influenced by four main drivers: _____. a. corporate strategy, business unit strategies, innovative thinking, and technology innovations b. technologies, competencies, people, and projects c. strategic planning focus, information system goals, business unit strategy, and typical projects d. decision-making frameworks, focus of resource use, business opportunities, and communication among management and other personnel

Answers

Jerome is assisting with strategic planning for his organization's information system. He knows that information system organizational strategy is influenced by four main drivers: d. decision-making frameworks, focus of resource use, business opportunities, and communication among management and other personnel.

The information system is introduced in companies that want to change their methods of operations, goals, products, and services to meet up to their competitions or supersede them.

To successfully achieve these objectives, the resources, business strategies, decision-making framework, and communication should be strengthened to implement the Information system

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cost of good s sold RS 80700 opening stock RS 5800 closing stock RS 6000.what is the amount of purchase ?​

Answers

Answer:80900

Explanation:

Inventory at the beginning of the period = COGS + Inventory at the end of the period-Purchase

5800=80700+6000-P

- Assume the company can experience the following return with the following probability
Scenario probability Expected return
A 0.2 +30%
B 0.3 +15%
C 0.1 -10%
D ? -20%


i- Compute the expected return.
ii- Compute the expected value of $2000 investment over a coming year.
iii- Compute the standard deviation of the percentage return over the coming year iv- If the risk-free return is 7 percent, what is the risk premium for a stock market investment

Answers

i. The expected return is 1.5%.

ii. The expected value of $2,000 is $30 ($2,000 x 1.5%).

iii. The standard deviation of the percentage return  = 0.085 ([tex]\sqrt{0.007175}[/tex]) or 8.5%.

iv. If the risk-free return is 7 percent, the risk premium for a stock market investment is 1.5% (8.5% - 7%).

Data and Calculations:

Scenario  Probability  Expected      Expected    Variance   Squared

                                      Return            Value                         Variance

A                     0.2            +30%            0.06         0.045       0.002025

B                     0.3            +15%             0.045       0.03         0.0009

C                     0.1             -10%             -0.01        -0.005       0.000025

D                    0.4             -20%            -0.08        -0.065      0.004225

                                                            0.015                          0.007175    

D's probability = 0.4 (1 - (0.2 + 0.3 + 0.1) or 40%

Expected return = (0.2 x 0.3 + 0.3 x 0.15 + 0.1 x -0.10 + 0.4 x -0.20)

= (0.06 + 0.045 - 0.01 - 0.08)

= 0.015

= 1.5%

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Evaluating debt burden. Ted Phillips has a monthly take-home pay of $1,685; he makes payments of $410 a
month on his outstanding consumer credit (excluding the mortgage on his home). How would you
characterize Isaac's debt burden? What if his take-home pay were $850 a month and he had monthly credit
payments of $150?

Answers

1000 Bc I said so and ya

According to the the question, the debt safety ratio is 24.33% on the payment of $410 where on the payment of $150 the debt safety ratio is 17.65%.  

What do you mean by the debt safety ratio?

While your debt safety ratio measures your monthly consumer debt payments to your monthly take-home pay, your debt service ratio compares your total monthly loan payments to your gross monthly income.

This ratio primarily considers debt commitments, such as your mortgage, instalment, and personal responsibilities, that will not be paid off by the minimum needed payments within the next 10 months, and ignores current liabilities.

Debt safety ratio = Total monthly credit payment / monthly take home pay.

Therefore,

On the monthly credit payment = $ 410

Monthly take payment = $ 1685

Debt safety ratio = 410 / 1685 = 0.2433 = 24.33%.

Here,

On the monthly credit payment = $ 150

Monthly take payment = $ 850

Debt safety ratio = 150 / 850 = 0.1765 = 17.65%.

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The following information relates to last year's operations at the Legumes Division of Gervani Corporation: Minimum required rate of return 6% Return on investment (ROI) 6.8% Sales $ 870,000 Turnover (on operating assets) 2 times What was the Legume Division's net operating income last year

Answers

Based on the information given, Legume Division's net operating income last year will be $29580.

Firstly,we will calculate the turnover which will be:

= Sales / Operating costs

= $870000 / 2

= $435000

The return on investment will be:

= Net operating income / Operating assets

Therefore, the net operating income will be:

= $435000 × 6.8%

= $29580

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The Legume Division's net operating income last year was $29,580.

What is the net operating income?

The net operating income is the income after deducting the cost of goods sold and operating expenses from sales revenue.

Data and Calculations:

Minimum required rate of return = 6%

Return on investment (ROI) = 6.8%

Sales revenue = $870,000

Turnover on operating assets = 2 times

Operating assets = $435,000 ($870,000/2)

Net operating income = ROI x Operating Assets

= $29,580 ($6.8% of $435,000)

Thus, the Legume Division's net operating income last year was $29,580.

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The _____________ and ______________ provide specific guidelines regarding minimum identification requirements for clients who complete applications for financial products.

Answers

Based on existing rules and regulations, the Truth in Lending Act and Truth in Savings Act provide specific guidelines regarding minimum identification requirements for clients who complete applications for financial products.

The purpose of the Truth in Lending Act & Truth in Savings Act

The United States government explicitly made the Truth in Lending Act & Truth in Savings Act to enable customers or citizens to make informed financial decisions precisely when making applications for financial products.

It also requires financial institutions like banks to provide to consumers disclosures on terms and costs relating to deposit accounts, savings, and lending.

Hence, in this case, it is concluded that the correct answer is "Truth in Lending Act and Truth in Savings Act."

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a firm has an Roa of 14% a debt equity ratio .80 a tax rate of 35% and the interest rate on the debt is 10% the firm's Roe is ​

Answers

Answer:

11.18%

Explanation:

i had this question too

What is a "strategic move"?
A strategic move is
1) the outcome of a game in which each player is doing the best it can regardless of what its competitors are doing
2) a commitment to reduce one's options
3) an action that obeys the rules of the game
4) a strategy that is optimal no matter what an opponent does.
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Answers

Answer:

four

Explanation:

The answer is four because the dictionary definition is "in order to gain a strategic advantage and increase one's payoff." If you have an advantage than it doesn't matter what your opponent does. So there for the answer is #4.

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