James has a credit card balance $5000 after Black Friday and he decides to pay $300 at the beginning of every month at 2.1% annual interest rate . In how many months can he pay off the balance

Answers

Answer 1

Answer:

16 months

Explanation:

2.1% of 300 is 6.3, 5000/3.06.3 = 16.32


Related Questions

roles of private sectors in tourism in Africa

Answers

The roles of private sectors in tourism in Africa include the following:

Investing in the tourism sector with time and money.Reducing trips to destinations outside of Africa.Identifying holiday centers and attractive sitesDeveloping beaches.Promoting tourist products through Social Media.Encouraging adventure tours.

What is tourism?

Tourism is the process of spending time away from your home for the following purposes:

RecreationRelaxationPleasure Using commercial services.

In Africa, tourism centers have been identified in Uganda, Algeria, Egypt, South Africa, Kenya, Morocco, Tunisia, Ghana, and Tanzania.

The types of tourism include:

Adventure tourismBeach tourismCultural (food) tourismEcotourism (experiential tourism)Medical tourismWildlife tourism.

Thus, the private sectors in Africa have different roles in tourism development.

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Matching: Match each term in Column A with its definition in
Column B.
Column B
a. covers losses due to windstorms, riots, or
plane crashes
ance
Column A
1. insurance
2. risks
b. pays all or parts of hospital and medical bills
3. beneficiary
c. automobile insurance that requires the insur-
4. premium
5. cash value
ance company to pay damages no matter
6. policy
who was responsible
d. the chances that we may suffer harm or loss
7. no-fault insur-
e. a way of protecting ourselves and others
8. personal liabil- against financial loss
ity insurance
f. person who receives insurance money in the
9. extended cover- event of the policyholder's death
age
g. the contract between the insured and the in.
10. health insurance surance company
h. a sum of money paid periodically to the insur-
ance company
i. the dollar value of a life insurance policy if
turned in or used to borrow from
j. provides protection against claims arising
from injury on a homeowner's property

Answers

Answer:

33

i got it right on the hw

Which of these would Congress look to do during a recession, as it pertains to fiscal policy?
a. Raise taxes
b. Raise government spending
c. Decrease the discount rate
d. Print more money

Answers

Answer:

Raise taxes

Explanation:

This will help reduce the amount of money in circulation because during recession money loses its value due to large amount of money in circulation

If a firm's expected sales are $264,000 and its break-even sales are $197,000, the margin of safety in dollars is:

Answers

Assuming the firm's expected sales are $264,000 in which the firm break-even sales are $197,000, the margin of safety in dollars is:$67,000.

Margin of safety in dollars

Using this formula

Margin of safety in dollars=Expected sales-Break-even sales

Where:

Expected sales=$264,000

Break-even sales=$197,000

Let plug in the formula

Margin of safety in dollars=$264,000-$197,000

Margin of safety in dollars=$67,000

Inconclusion the margin of safety in dollars is: $67,000.

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Which of the following sentences uses the term ration correctly?
O The government decided to ration workers' pay, so everyone received a small pay increase.
O The ration was elected to a second term in office.
O Because we had so much extra food, we decided to ration it by giving it away to everyone we met.
O We had to ration the food to make it last the whole week.

Answers

Answer:

The last one.

We had to ration the food to make it last the whole week.

Explanation:

Look up the meaning of ration and it'll make sense.

a.
Which is the best way of getting feedback from a performance review?
Take good notes
b. Ask good questions
Arrive unprepared
d. Discuss the review with friends
c.
Please select the best answer from the choices provided
A
ОВ
Ο C
OD

Answers

Answer:

take good notes and ask good questions

Explanation:

why because taking good notes help you go through back again, ask good questions keeps it in ur mind....

Answer:

a.

Take good notes

Explanation:

If a company spends $20 million to install new footwear-making equipment with capacity to produce 1 million pairs of athletic footwear at its North American production facility, then its annual depreciation costs at that facility will rise by: _________

Answers

Assuming the equipment has capacity to produce 1 million pairs of athletic. Its annual depreciation costs at that facility will rise by $2 million or 10%.

Annual depreciation cost

Using this formula

Depreciation = (Cost of equipment - Estimated salvage value) / Estimated useful life

Depreciation= (20 - 0) / 10

Depreciation= $2 million

Or

Annual depreciation= 2/20 ×100

Annual depreciation= 10%

Therefore, the annual depreciation costs at that facility will rise by $2 million or 10%.

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In which situation would a person pay a higher property tax than he or she did
the year before?
O A. The value of the person's home increased.
B. The amount the person spent on electronics increased.
O c. The number of dependents the person had increased.
O D. The salary the person earned increased.
Helppp

Answers

Answer:

The answer is A: The value of the person's home increased.

Explanation:

Keywords here are property tax indicating that the answer would most likely mention a piece of land or a house.

ACCOUNTING - The matching concept
a. requires that the dollar amount of debits equal the dollar amount of credits on a trial balance
b. states that expenses related to revenue be reported at the same time the revenue is reported
c. addresses the relationship between the journal and the balance sheet
d. determines whether the normal balance of an account is a debit or credit

Answers

b. states that expenses related to revenue be reported at the same time the revenue is reported


are retail businesses where customers
come to your place of business to purchase a product.
is a section of land that is zoned

Answers

Answer:

that is a retailer jobs as thay give the goods to us by

Explanation:

first producers gives goods to wholesalers in lumsum amount and then they sell to different retailers such as hawker or shopkeeper and then the shopkeeper sells to us

no it's not but it is sell items or services to customers for their consumption, use or pleasure

The chair of the board of directors says, “There is a 50 percent chance this company will earn a profit, a 30 percent chance it will break even, and a 20 percent chance it will lose money next quarter.” a. Use an addition rule to find the probability the company will not lose money next quarter. b. Use the complement rule to find the probability it will not lose money next quarter

Answers

The probability that the company will not lose money next quarter using both addition and complement rules is 0.8.

Calculation of a Probability Using Addition and Complement Rules

Let:

P(E) = The probability that the company will earn a profit next quarter = 50%, or 0.50

P(B) = The probability that the company will break even next quarter = 30%, or 0.30

P(L) = The probability the company will lose money next quarter = 20%, or 0.20

P(NL) = The probability the company will not lose money next quarter = ?

Therefore, we have:

a. The probability the company will not lose money next quarter using addition rule can be calculated as follows:

P(NL) = P(E) + P(B) = 0.5 + 0.3 = 0.8

b. The probability the company will not lose money next quarter using complement rule can be calculated as follows:

P(NL) = 1 – P(L) = 1 – 0.2 = 0.8

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The market basket used to calculate the CPI is revised monthly to more accurately depict consumers' choices. The price data for the CPI are collected every month." Are the previous sentences true or false?

Answers

Answer:

False

Explanation:

approximately every ten years

CPI revises the quantities of items consumed in its basket of goods and services approximately every ten years

blsgov

What is one of the primary concerns of socially responsible consumers?
A. Customer service
B. Low price
C. Socialism
D. Sustainability

Answers

One of the primary concerns of socially responsible consumers is sustainability.

Who is a socially responsible consumer?

A socially responsible consumer is a consumer who cares about the social impact that the products he buys have on the world around him.

It is to be noted that socially responsible consumers avoid products that they think harm society. Instead, they buy goods and services from companies that they believe do a better job of taking care of the world.

Hence, One of the primary concerns of socially responsible consumers is sustainability.

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A perfectly competitive firm has fixed costs of $1 million a month, variable costs of $2 million a month and product sales of $3 million a month. what statement is a correct analysis of the situation

Answers

Assuming a perfectly competitive firm has fixed costs of $1 million per month the company is making $0 profit.

The correct analysis

Using this formula

Analysis=Sales-Fixed cost-Variable cost

Where:

Sales=$3 million

Fixed cost=$1 million

Variable cost=$2 million

Let plug in the formula

Analysis=$3 million-$1 million-$2 million

Analysis=$0

Inconclusion the company is making $0 profit.

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The fixed budget indicates direct labor costs of $27,500. Actual direct labor costs were $27,000. The variance is:

Answers

Based on the information given the variance is $500 favorable.


Variance

Using this formula

Variance=Fixed Direct labor cost-Actual direct labor cost

Where:

Fixed Direct labor cost=$27,500

Actual direct labor cost=$27,000

Let plug in the formula

Variance=$27,500-$27,000

Variance=$500 favorable

Inconclusion  the variance is $500 favorable.

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The journal entry to record the issuance of a note to a creditor to satisfy an account payable created earlier would include a __________ to __________.

a. credit; Accounts Payable
b. credit; Notes Payable
c. debit; Notes Payable
d. debit; Inventory

Answers

B. Credit; notes payable

Out of the choices provided above, it can be concluded to state that the journal entry to record the issuance of a note to a creditor to satisfy an account payable created earlier would include a credit to Notes Payable. Therefore, the option B holds true.

What is the significance of a journal entry?

A journal entry can be referred to or considered as the entry wherein the record-keeping of the financial transactions in the chronological order of their occurrence is made. These entries of financial transactions have a debit and a credit effect.

As per the golden rule of accounting, issuance of a note to the creditor affects the journal book entry with a debit effect in the name of the creditor and a credit effect to the accounts or notes payable. Each of the debit and credit effects will be equal in their amounts.

Therefore, the option B holds true and states regarding the significance of journal entry.

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What is the purpose of long-term disability insurance?
A. To replace a portion of a person's income if that person cannot
work
B. To provide a guaranteed loan to pay expenses until a person is
able to work again
C. To provide financial support for loved ones after a person dies
O D. To pay medical expenses if a person is hospitalized for an illness
or injury

Answers

The main purpose of of long-term disability insurance is: A. To replace a portion of a person's income if that person cannot work.

What is  long-term disability insurance?

Long-term disability insurance can be defined as the type of insurance coverage that help to guide a person income if the person is unable to work as a result of illness or injury.

Long-term disability insurance  is important  when it comes to unforeseen circumstance.

Inconclusion to replace a portion of a person's income if that person cannot work.

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Which consumer protection law requires that products be free of defects when sold?
a. used car rule
b. uniform commercial code
c. bill of consumer rights
d. credit card accountability, responsibility, and disclosure act

Answers

The  uniform commercial code is a law that requires that products are free of defects when  they are sold.

What is the  uniform commercial code?

This is a term, that is used to refer to all of the commercial laws that are used to apply to the buying and the selling of goods in the US.

The law protects customers in such a way that the products are free of defects when they buy. The products can also be returned if they are not.

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The consumer protection law that requires that products be free of defects when sold is the b. uniform commercial code

What is Consumer Protection Laws?

This refers to those laws put in place in order to protect the customer from unethical practices of business owners.

Hence, we can note that the uniform commercial code is the consumer protection law that requires that products be free of defects when sold so that the customers can get the maximum value for the products.

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In a civil case, the first document filed is a(n)
A. Interrogatory
B. Complaint
C. Deposition
D. Answer

Answers

Answer:

A.Interrogatory

Explanation:I hope help you

Type the correct answer in the box. Spell all words correctly.
Kwa Lee works as the production manager in a manufacturing company that makes microwave ovens. He wants the products to meet the
generally applicable standards related to environment radiation.
Which law must Kwa Lee follow related to the products his company manufactures?
Kwa Lee and his company must adhere to the standards in the
Blank

Answers

Answer:

Resource conservation and Recovery Act

Explanation:

This is the answrer correct me if wrong

The law that  Kwa Lee follow that is related to the products his company manufactures is: Resource conservation and Recovery Act.

What is Resource Conservation and Recovery Act?

The Resource Conservation and Recovery Act is an act that was establish to help prevent disposal waste that can be harmful to the our wellbeing .

Based on the given scenario Kwa lee and his  has to comply  to the standard in the Resource Conservation and Recovery Act.

Therefore the law that  Kwa Lee follow that is related to the products his company manufactures is: Resource conservation and Recovery Act.

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What is the difference between carriage forward and carriage paid?

Answers

Answer: carriage forward means delivery is being laid by the buyer. Carriage paid means delivery is paid by the seller.

PLEASE HELP WITH THIS ECONOMICS ASSIGNMENT
This lesson examines many concepts, including opportunity costs. For this discussion, you will write a brief scenario that describes opportunity costs.

For example:

After working weekends for the past three years, Janet has saved $7,000. Her goal is to buy a new 90-inch HD television. Before she buys the TV, she is offered an opportunity to travel with her best friend to Australia and New Zealand. The trip will cost about $7,000.

Janet’s opportunity costs are either missing out on purchasing a new television (if she chooses to travel) or forgoing her plan to purchase a television (if she travels abroad).

Now, write your own scenario that illustrates opportunity costs.

Answers

A scenario that illustrates the concept of opportunity costs is when Gilbert works at an annual salary of $60,000 or he starts a business.

What is an illustration of opportunity costs?

The store owned by Gilbert could have been rented out at an annual lease of $15,000.  If Gilbert's store generates annual revenue of $200,000 with a cost of goods worth $100,000 and selling and administrative expenses that cost him $25,000 annually.

If Gilbert chooses to open the store, his economic gain from running the business will be $20,000 ($200,000 - $80,000 - $25,000 - $15,000 - $60,000).

Whereas, if he chooses employment as an accountant, his economic profit will be $75,000 ($60,000 + $15,000).

Thus, based on the concept of opportunity costs, which gives rise to economic profit, Gilbert will be advised to take up employment instead of starting his own business.

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Distinguish between economic and accounting profit

Answers

Answer:

The main difference between accounting and economic Profit is that accounting profit refers to monetary revenue minus monetary costs which includes any type of cost in the organization in the form of rents, salaries, material costs etc. Economic profit refers to the monetary revenue minus total cost.

Explanation:

The differences between economic and accounting profits exist in their definitions, despite their similarities.

What is economic profit?

Economic profit has the following characteristics:

It includes both explicit and implicit costs.It is determined by economic principles, especially the economic concept of opportunity cost.In summary, economic profit is the total revenue minus both implicit (opportunity cost) and explicit costs.

What is accounting profit?

Accounting profit has the following characteristics:

It includes only explicit costs.It is determined by accounting principles (U.S. GAAP or IFRS).It is equal to net income or revenue minus explicit expenses.

Thus, there are differences between accounting and economic profits.

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Hector a Maria have been married for almost one year now and are thinking about buying a house. Maria is an executive for a​ large, multinational corporation with offices around the world. She has been told by her company that she will be transferred to a new location every three years. Hector is a car salesman and he is willing to move to wherever Maria gets transferred. Together they make​ $8,000 in gross monthly income and pay​ 40% in taxes and withholdings every month. Between them they have monthly payment of​ $400 in student loans and​ $700 in car​ loans, and their credit cards payments average​ $450 per month. They currently lease a luxury condo for​ $1,400 per month. They travel to Cancun every Christmas. Since they both work a lot of​ hours, they eat out at restaurants for most meals. They currently have nothing in savings but​ Hector's grandparents have said they will give them a​ 20% down payment for the new home. Assuming a PITI of approximately​ $1,300 for the​ townhouse, will they be approved for a​ mortgage?

Answers

Assuming a PITI of approximately​ $1,300 for the​ townhouse, and given Hector and Maria's PITI of $4,300, the couple will not be approved for a mortgage.

What is PITI?

The PITI means principal, interest, taxes, and insurance.  Traditionally, the PITI should not exceed 28% of the gross income of Hector and Maria.

Since they both earn a gross monthly income of $8,000, they are likely to get approved for the mortgage but for the townhouse's limit of $1,300.

Data and Calculations:

Gross monthly income = $8,000

PITI maximum = 28% or $2,240 ($8,000 x 28%)

Taxes and withholdings per month = 40% or $3,200 ($8,000 x 40%)

Student loans payments = $400

Car loans payments = $700

Approximate PITI per month = $4,300

Excluded in PITI calculations:

Credit cards payments per month = $450

Lease for luxury condo per month = $1,400

Thus, given the townhouse's PITI of $1,300, Hector and Maria will not be approved for a mortgage.

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scarcity forces people to

Answers

Answer:

Because we don't have enough resources to provide all of the goods/services in the quantities that are wanted, scarcity forces us to make decisions about which goods/services we value higher.

Explanation:

Answer:

make choices

Explanation:

Scarcity forces all of us to make choices by making us decide which options are most important to us. The principle of scarcity states that there are limited goods and services for unlimited wants.

"Davcher, Inc. is considering a project for next year, which will cost $5 million. Davcher plans to use the following combination of debt and equity to finance the investment. Issue $1.5 million of 10-year bonds at a price of 101, with a coupon/contract rate of 4%, and flotation costs of 2% of par. Use $3.5 million of funds generated from retained earnings. The equity market is expected to earn 8%. U.S. Treasury bonds are currently yielding 3%. The beta coefficient for Davcher, Inc. is estimated to be .70. Davcher is subject to an effective corporate income tax rate of 30 percent. (8 points) " Compute Davcher's expected rate of return using the Capital Asset Pricing Model (CAPM).

Answers

Based on the U.S. Treasury bond rate, the market return and the beta, Davcher's expected rate of return would be 6.5%.

What is the expected rate of return?

Using the Capital Asset Pricing Model (CAPM), the expected rate of return would be:

= Risk free rate + Beta x Market premium

Market premium:

= Market return - risk free rate

= 8% - 3% rate of treasury bonds

= 5%

Expected rate of return is:

= 3% + 0.70 x 5%

= 6.5%

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What does it mean when earned value is above planned value?

Answers

Answer:

If the Earned Value is less than the Planned Value, you are behind schedule, and if the Earned Value is greater than the Planned Value, you are ahead of schedule. The Earned Value can be compared to the Actual Cost (AC) to determine whether you are above or below budget. An Example from Capital Project Management

Explanation:

Answer: more work has been completed than planed, and the task or project is ahead of schedule.

Explanation:

For the lower costs than planed you are ahead of schedule

Do imports threaten the jobs of people in the importing country?​

Answers

Answer:

It depends upon what is imported.

If a chocolate making machine is imported, it will create jobs because the importer of the machine will employ people to make chocolates.

If chocolate is imported, it will threaten the jobs of people who are already engaged in making chocolates.

Not necessarily. In many cases it helps the manufacturing base here. For example, the wood used for fingerboard guitar manufacturing here in the U.S. is frequently imported from India. The type of wood is aesthetically pleasing and, I am told, has great sound quality. We import a lot of our aluminum as it isn’t very common here in the States. It makes for a lot of jobs here to have that aluminum imported. So, not necessarily. It could be a very good thing.

The Loan Payable account is a/an
a. Asset
b. Liability
c. Revenue
d. Expense

Note Receivable is a/an
a. Asset
b. Liability
c. Revenue
d. Expense

Answers

Loan Payable - Liability
Note Receivable - Asset

Microsoft receives a cash payment in advance for cloud services is an example of
a. prepaid expense
b. accrued revenue
c. unearned revenue
d. accrued expense

On December 31st a calendar year corporation
owes employees unpaid payroll
a. prepaid expense
b. accrued revenue
c. unearned revenue
d. accrued expense

Answers

1. Unearned Revenue
2. Accrued Expense
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