Advantages of paying with a credit card as opposed to paying cash for a purchase may...
Advantages of paying with a credit card as opposed to paying cash for a purchase may include: (select all that apply)
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a) cash-back rewards |
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b) insurance coverage |
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c) building credit history |
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d) delaying cash payment without interest |
Homework Answers
Advantages of paying with a credit card as opposed to paying cash for purchase may include:
a) cash-back rewards
b) insurance coverage
c) building credit history
Add Answer to:
Advantages of paying with a credit card as opposed to paying
cash for a purchase may...
Paying only the minimum balance on a credit card is a good way to have more...
Paying only the minimum balance on a credit card is a good way to have more funds available to purchase other items O is a temptation that often leads to large credit card debt at high interest rates makes sense if funds that might have been used to quickly pay down credit card debt are instead put into a savings account O is a quick way to pay off credit card debt Question 8 (12 points) If one does not...
Styles Paragrap Font Choosing Between Credit Card Options Review the Schumer Box information provided below for...
Styles Paragrap Font Choosing Between Credit Card Options Review the Schumer Box information provided below for two credit card options, and then answer the question that follows CARD DISCLOSURES Credit Card Option A 24.99%, variable Credit Card Option B 13.24%, variable Annual Percentage Rate (APR) for Purchases and Transfers APR for Cash Advances Annual Fee Transfer Fee Grace Period 24 99%, variable $0 3% of balance transferred 20 days $25 No 23.24%, variable $59 $0 25 days 535 Yes Late...
PAYING OFF CREDIT CARDS Simon recently received a credit card with an 13% nominal interest rate....
PAYING OFF CREDIT CARDS Simon recently received a credit card with an 13% nominal interest rate. With the card, he purchased an Apple iPhone 5 for $470. The minimum payment on the card is only $10 per month. a. If Simon makes the minimum monthly payment and makes no other charges, how many months will it be before he pays off the card? Do not round intermediate calculations. Round your answer to the nearest month. month(s) b. If Simon makes...
19. Problem 5.37 (Paying off Credit Cards) eBook Simon recently received a credit card with a...
19. Problem 5.37 (Paying off Credit Cards) eBook Simon recently received a credit card with a 13% nominal interest rate. With the card, he purchased an Apple iPhone 7 for $500.00. The minimum payment on the card is only $10 per month. a. If Simon makes the minimum monthly payment and makes no other charges, how many months will it be before he pays off the card? Do not round intermediate calculations. Round your answer to the nearest whole number....
PAYING OFF CREDIT CARDS Simon recently received a credit card with an 20% nominal interest rate....
PAYING OFF CREDIT CARDS Simon recently received a credit card with an 20% nominal interest rate. With the card, he purchased an Apple iPhone 5 for $480. The minimum payment on the card is only $20 per month. a. If Simon makes the minimum monthly payment and makes no other charges, how many months will it be before he pays off the card? Do not round intermediate calculations. Round your answer to the nearest month. month(s) b. If Simon makes...
78. Rusty Corporation purchased a rust-inhibiting machine by paying $50,000 cash on the purchase date and...
78. Rusty Corporation purchased a rust-inhibiting machine by paying $50,000 cash on the purchase date and agreeing to pay $10,000 every three months during the next two years; the first payment is due three months after the purchase date. Rusty's incremental borrowing rate is 8%. At what amount would the liability be reported at on the balance sheet as of the purchase date, after the initial $50,000 payment was made? A. $123,255 B. $130,000 C. $80,000 D. $73,255 80. Rachel...
It is for Mechanical engineering. Not Accounting 3. Assume that you have a credit card whose...
It
is for Mechanical engineering. Not Accounting
3. Assume that you have a credit card whose statement on April 1 showed that owe $1,890.00. You made a payment to the credit card company of $800.00 the same day using on-line payment. Throughout the month of April you cha $485.00 on this card which is posted on the May 1 statement. On May 1 you an on-line payment of $940.00 to the company. Throughout the month of M you charged $260.00...
E. $24.20 Fou are paying an effective annual rate of 20 percent on your credit card....
E. $24.20 Fou are paying an effective annual rate of 20 percent on your credit card. The interest is compounded quarterly. What is the annual percentage rate on this account (calculate the APR using the effective quarterly rate)? A. 17.50 percent B. 18.00 percent C. 18.65 percent D. 18.98 percent E. 19.50 percent 14. The present value of the following cash flow stream is $5.933.86 when discounted at 6 percent annually. What is the value of the missing cash flow?...
E. $24.20 Fou are paying an effective annual rate of 20 percent on your credit card....
E. $24.20 Fou are paying an effective annual rate of 20 percent on your credit card. The interest is compounded quarterly. What is the annual percentage rate on this account (calculate the APR using the effective quarterly rate)? A. 17.50 percent B. 18.00 percent C. 18.65 percent D. 18.98 percent E. 19.50 percent 14. The present value of the following cash flow stream is $5.933.86 when discounted at 6 percent annually. What is the value of the missing cash flow?...
Which of the following is true regarding you make a purchase with a credit card? Group...
Which of the following is true regarding you make a purchase with a credit card? Group of answer choices A credit card has the function of a medium of exchange even though it is not money. You can afford to buy things that otherwise you cannot afford to pay for all at once if you don’t have the cash. You take out a short-term loan that must be repaid-with interest. All of the above.
Paying only the minimum balance on a credit card is a good way to have more funds available to purchase other items O is a temptation that often leads to large credit card debt at high interest rates makes sense if funds that might have been used to quickly pay down credit card debt are instead put into a savings account O is a quick way to pay off credit card debt Question 8 (12 points) If one does not...
Styles Paragrap Font Choosing Between Credit Card Options Review the Schumer Box information provided below for two credit card options, and then answer the question that follows CARD DISCLOSURES Credit Card Option A 24.99%, variable Credit Card Option B 13.24%, variable Annual Percentage Rate (APR) for Purchases and Transfers APR for Cash Advances Annual Fee Transfer Fee Grace Period 24 99%, variable $0 3% of balance transferred 20 days $25 No 23.24%, variable $59 $0 25 days 535 Yes Late...
PAYING OFF CREDIT CARDS Simon recently received a credit card with an 13% nominal interest rate. With the card, he purchased an Apple iPhone 5 for $470. The minimum payment on the card is only $10 per month. a. If Simon makes the minimum monthly payment and makes no other charges, how many months will it be before he pays off the card? Do not round intermediate calculations. Round your answer to the nearest month. month(s) b. If Simon makes...
19. Problem 5.37 (Paying off Credit Cards) eBook Simon recently received a credit card with a 13% nominal interest rate. With the card, he purchased an Apple iPhone 7 for $500.00. The minimum payment on the card is only $10 per month. a. If Simon makes the minimum monthly payment and makes no other charges, how many months will it be before he pays off the card? Do not round intermediate calculations. Round your answer to the nearest whole number....
PAYING OFF CREDIT CARDS Simon recently received a credit card with an 20% nominal interest rate. With the card, he purchased an Apple iPhone 5 for $480. The minimum payment on the card is only $20 per month. a. If Simon makes the minimum monthly payment and makes no other charges, how many months will it be before he pays off the card? Do not round intermediate calculations. Round your answer to the nearest month. month(s) b. If Simon makes...
It
is for Mechanical engineering. Not Accounting
3. Assume that you have a credit card whose statement on April 1 showed that owe $1,890.00. You made a payment to the credit card company of $800.00 the same day using on-line payment. Throughout the month of April you cha $485.00 on this card which is posted on the May 1 statement. On May 1 you an on-line payment of $940.00 to the company. Throughout the month of M you charged $260.00...
E. $24.20 Fou are paying an effective annual rate of 20 percent on your credit card. The interest is compounded quarterly. What is the annual percentage rate on this account (calculate the APR using the effective quarterly rate)? A. 17.50 percent B. 18.00 percent C. 18.65 percent D. 18.98 percent E. 19.50 percent 14. The present value of the following cash flow stream is $5.933.86 when discounted at 6 percent annually. What is the value of the missing cash flow?...
E. $24.20 Fou are paying an effective annual rate of 20 percent on your credit card. The interest is compounded quarterly. What is the annual percentage rate on this account (calculate the APR using the effective quarterly rate)? A. 17.50 percent B. 18.00 percent C. 18.65 percent D. 18.98 percent E. 19.50 percent 14. The present value of the following cash flow stream is $5.933.86 when discounted at 6 percent annually. What is the value of the missing cash flow?...
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