Homework Answers
![SOLUTION a] Formula for compound Ruberest A = P(1+8 ut Given pa $600 r=0.04658% per day 8=0.0004658 per day W= 1 day cpeo day](http://img.homeworklib.com/questions/0a07d630-7c81-11eb-a7d8-b3a42a5a4c0d.png?x-oss-process=image/resize,w_560)
Answers :
a) $ 8.157996
b) $608.157996
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10.4.34 Que Travis Thompson uses his credit card to obtain a cash advance of $600 to...
Travis operates a consulting business he uses his personal credit card for both business and personal...
Travis operates a consulting business he uses his personal credit card for both business and personal use the total finance charge work is paid for the year were $957 Travis is total business charges on this card where 41% of the charges what amount of interest expense can be deducted on Travis's schedule c a $957 b $565 c $392 and d 0 which one is correct
Patty took a cash advance of $1,500. Her new credit card charges an Annual Percentage Rate...
Patty took a cash advance of $1,500. Her new credit card charges an Annual Percentage Rate of 21%. The transaction fee for cash advances is 3% of the cash advance, with a maximum fee of $35. This fee is added to the total cash advance, and accrues interest. If Patty makes monthly payments of $65: 7. How long will it take Patty to pay for the cash advance? 8. What is the total amount Patty will end up paying for...
Question Help 0 A new employee charged $8490 on his credit card to relocate for his...
Question Help 0 A new employee charged $8490 on his credit card to relocate for his first job. After noticing that the interest rate for his balance was 15% compounded monthly, he stopped charging on that account. He wishes to pay off his balance in 3 years using automatic payments sent at the end of each month. a. What monthly payment must he make to pay off the account at the end of 3 years? b. How much total interest...
Hamed only made the minimum required payment on his credit card in May. Thus he started the next 30-day billing period (...
Hamed only made the minimum required payment on his credit card in May. Thus he started the next 30-day billing period (June 1) with a balance of $587. Hamed used his credit card to book a holiday on June 10 for $2,500, and sent in another payment of $800 on June 25. His annual interest rate is 23%, compounded daily. How much interest will he be charged for the month of June? Using average daily balance method. a) $40.54 b)...
n has been using his credit card too much . His o use only cash until...
n has been using his credit card too much . His o use only cash until the balance of $8574 e credit card company charges 18% compounded monthly. What is the effec t rate? How much interest will he owe e first month's payment? If he makes monthly is paid off. The car in th payments of $225, how long until it is paid ofl South Florida Contributed by Paul R. McCright, University of
EXERCISE 3 ACCOUNTING 1. The company “Claro que puedo S.A.” is constituted. The partners contribute $...
EXERCISE 3 ACCOUNTING 1. The company “Claro que puedo S.A.” is constituted. The partners contribute $ 3,750,000 in cash and merchandise with a value of $ 1'040,000. 2. They pay for the installation of services in the amount of $ 98,000 (70% administrative expenses and 30% sales expenses) 3. They buy merchandise for an amount of $ 560,000 plus VAT which pays 20% counted 40% credit and the rest with documents payable. 4. Acquire computer equipment for an amount of...
1. Variable Interest Rates Jodie is a medical student who has accumulated 24,000$ of credit card...
1. Variable Interest Rates Jodie is a medical student who has accumulated 24,000$ of credit card debt on numerous credit cards. She is looking to consolidate her debt. On 1/1/2010, she visits her bank and she is offered the following debt consolidation plan: the bank will lend her 24,000$ to pay off al1 her outstanding credit card balances on that day, in return for a fixed payment of 11,520S on 1/1/2011, plus a payment of 8,000*(1+0.01+Prime Rate on 1/1/2012)S on...
September 1st, 2019, Mr. V has the following Assets. A Computer worth $600, $37 in cash,...
September 1st, 2019, Mr. V has the following Assets. A Computer
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worth $1000. Mr. V has the following liabilities: $34000 in bank
loans, a $14000 loan from his parents, a $1200 credit card bill,
and a $45 phone bill.
How to make ledger and journal based on this transaction
Asus All a number of September 15, 2019 cash of September 1, 2019, Mr. V has the V has...
1. Variable Interest Rates Jodie is a medical student who has accumulated 24,000S of credit card...
1. Variable Interest Rates Jodie is a medical student who has accumulated 24,000S of credit card debt on numerous credit cards. She is looking to consolidate her debt. On 1/1/2010, she visits her bank and she is offered the following debt consolidation plan: the bank will lend her 24,000S to pay off all her outstanding credit card balances on that day, in return for a fixed payment of 11,520S on 1/1/2011, plus a payment of 8,000*(1+0.01+Prime Rate on 1/1/2012)S on...
1. Variable Interest Rates Jodie is a medical student who has accumulated 24,000$ of credit card...
1. Variable Interest Rates Jodie is a medical student who has accumulated 24,000$ of credit card debt on numerous she is offered the following debt consolidation plan: the bank will lend her 24,000s to 1/1/2012, and a payment of 8,000*(1+0.01+Prime Rate on 1/1/2013)S on 1/1/2013. It is the yearly rate for loans to prime borrowers, that is, borrowers who will almost credit cards. She is looking to consolidate her debt. On 1 /1/2010, she visits her bank and pay offall...
Patty took a cash advance of $1,500. Her new credit card charges an Annual Percentage Rate of 21%. The transaction fee for cash advances is 3% of the cash advance, with a maximum fee of $35. This fee is added to the total cash advance, and accrues interest. If Patty makes monthly payments of $65: 7. How long will it take Patty to pay for the cash advance? 8. What is the total amount Patty will end up paying for...
Question Help 0 A new employee charged $8490 on his credit card to relocate for his first job. After noticing that the interest rate for his balance was 15% compounded monthly, he stopped charging on that account. He wishes to pay off his balance in 3 years using automatic payments sent at the end of each month. a. What monthly payment must he make to pay off the account at the end of 3 years? b. How much total interest...
n has been using his credit card too much . His o use only cash until the balance of $8574 e credit card company charges 18% compounded monthly. What is the effec t rate? How much interest will he owe e first month's payment? If he makes monthly is paid off. The car in th payments of $225, how long until it is paid ofl South Florida Contributed by Paul R. McCright, University of
1. Variable Interest Rates Jodie is a medical student who has accumulated 24,000$ of credit card debt on numerous credit cards. She is looking to consolidate her debt. On 1/1/2010, she visits her bank and she is offered the following debt consolidation plan: the bank will lend her 24,000$ to pay off al1 her outstanding credit card balances on that day, in return for a fixed payment of 11,520S on 1/1/2011, plus a payment of 8,000*(1+0.01+Prime Rate on 1/1/2012)S on...
September 1st, 2019, Mr. V has the following Assets. A Computer
worth $600, $37 in cash, a car worth $25000, and other possessions
worth $1000. Mr. V has the following liabilities: $34000 in bank
loans, a $14000 loan from his parents, a $1200 credit card bill,
and a $45 phone bill.
How to make ledger and journal based on this transaction
Asus All a number of September 15, 2019 cash of September 1, 2019, Mr. V has the V has...
1. Variable Interest Rates Jodie is a medical student who has accumulated 24,000S of credit card debt on numerous credit cards. She is looking to consolidate her debt. On 1/1/2010, she visits her bank and she is offered the following debt consolidation plan: the bank will lend her 24,000S to pay off all her outstanding credit card balances on that day, in return for a fixed payment of 11,520S on 1/1/2011, plus a payment of 8,000*(1+0.01+Prime Rate on 1/1/2012)S on...
1. Variable Interest Rates Jodie is a medical student who has accumulated 24,000$ of credit card debt on numerous she is offered the following debt consolidation plan: the bank will lend her 24,000s to 1/1/2012, and a payment of 8,000*(1+0.01+Prime Rate on 1/1/2013)S on 1/1/2013. It is the yearly rate for loans to prime borrowers, that is, borrowers who will almost credit cards. She is looking to consolidate her debt. On 1 /1/2010, she visits her bank and pay offall...
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