Pretend you make $500 worth of purchases on your credit card, your bill arrives saying your minimum payment due is $20, and you pay $20 before the due date. Describe how credit card interest works and what you can expect to happen next.

Answers

Answer 1

Simply put, a credit card is a means of payment (a plastic card) that allows the cardholder to spend money that is not in their account.

So a typical credit card statement will tell you that you made a $500 purchase.

Payment date:

For example, it may say that you must have credited by 12/31/XX. (Note: Failure to do so will in most cases accrue interest.)

Minimum Payout:

In this case, $20 represents the minimum payment significant enough to be recorded until the entire $500 balance is covered.

However, you don't just pay that amount each month. If so, it will take 25 months or 2 years and 1 month ($500/$20) to complete the balance.

This is probably not the best option given that you will be paying outstanding interest.

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Related Questions

Which of the following ways is not something you can do to protect yourself against sending payments to the wrong person when using a p2p payment app or service

Answers

Use a PIN to access your P2P app or service. In this way we can do to protect ourselves against sending payments to the wrong person when using a p2p payment app or service.

What is P2P app or service?

Peer-to-peer services are platforms that link participants to a transaction directly, cutting out the middleman.

Peer-to-peer services use technology to reduce the transaction costs associated with asymmetries in information, enforcement, and trust that have historically been handled by relying on third intermediaries.

Peer-to-peer systems provide its customers with services including money processing, buyer and seller data, and quality assurance.

File-sharing platforms, such the music-sharing programme Napster, which debuted in 1999, helped popularise the peer-to-peer model of today. Millions of internet users were able to immediately connect, establish groups, and work together through the peer-to-peer movement to construct their own search engines, virtual supercomputers, and file systems.

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Type the correct answer in the box. Spell all words correctly. Identify the marketing research technique implied in the scenario. A sports beverage company has created a new ad for their product to air on television. After the ad airs, they intend to show the ad to a certain number of customers and then ask them for their feedback regarding the ad. This company is engaging in the __________ market research technique

Answers

This business is using focus groups for market research.

What is market research?

Market research, commonly referred to as "marketing research," is the procedure used to assess the viability of a new service or product by conducting research with prospective customers. Market research enables a business to identify the target market and gather input from customers regarding their interest in the good or service as well as opinions.

This kind of research might be carried out internally, by the business itself, or by a different business that specializes in market research. Surveys, product testing, and focus groups are among methods that can be used.

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Dean is taking a personal assessment and notices that many of his interests involve the reading and creation of language arts and poetry. What career cluster will the assessment most likely indicate to be fitting for Dean?

Technology
Art and Performance
Legal
Public Service

Answers

Art and performance is the profession cluster that the assessment is most likely to suggest is appropriate for dean.

What is Career ?

A student discovers his potential and career priorities after completing or while continuing their higher education. One can choose a stable job or venture. Everyone has different priorities for their career. The area of study a student decides to specialise in is their career.

The dean's ideal career would be in the performing and visual arts.

Career clusters are collections of similar job categories. They provide you with a simple approach to investigate several job types under a single broad category

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Answer:

art and performance

Explanation:

:)

The internal audit function reports to the CFO or ____ and the ____.

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Reports from the internal audit function are given to the CFO or CEO as well as the Audit Committee of the Board of Directors.

What is the internal audit function?

Internal audit (IA) functions' main job is to promote operational sustainability and assist decision-makers in safeguarding organizational assets and reputations—tasks that have come under growing strain over the past year.

The CFO or CEO, as well as the Board of Directors' Audit Committee, receive reports from the internal audit division.

Determining conformity with policies and procedures is one of an audit department's main duties.

Evaluate the effectiveness of internal controls.

Internal auditing activities: assessing controls and offering guidance to managers at all levels. assessing dangers.

Operations analysis and information confirmation. cooperating with additional assurance suppliers.

The criterion, condition, cause, consequence, and corrective action are frequently listed in internal audit reports.

Therefore, reports from the internal audit function are given to the CFO or CEO as well as the Audit Committee of the Board of Directors.

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What are the 4 factors of production and their characteristics?.

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Answer:

Land - All natural resources which is used to facilitate in production process

Capital - Things which are produced by only man

Labour - The mental and physical contribution to production process

Entrepreneurship

What subjects are required to become a real estate agent?

Answers

Answer:

this is ans:

Explanation:

Before you can take the real estate license exam, you will take classes in subjects like real estate fundamentals, real estate law, and mortgage financing. You can take these courses at a community college, state college, or university to earn a certificate, an associate degree, or a bachelor's degree in real estate.

what is the general approach as to when product costs are recognized as expenses?

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When the related revenue is recognized, a Product Costs are recognized as an expense. A product cost in here is  an expense which is incurred to produce a product that is capitalized on the balance sheet since they have a future benefit.

In economy and business, Product cost generally can be defined as the costs incurred to create a product. A product cost is including several aspects, such as  direct labor, direct materials, consumable production supplies, and factory overhead. The revenue recognition in economic principle generally can be described as the condition where that companies' revenues are recognized when the service or product is considered delivered to the customer.

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The invisible hand ensures that economic prosperity is distributed equally. True or False

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The statement '' The invisible hand ensures that economic prosperity is distributed equally '' is false. The invisible hand does not ensure that economic prosperity is distributed equally.

The invisible hand is an economic concept that was coined by Adam Smith in his book, The Wealth of Nations, to describe the self-regulating behavior of the marketplace that helps to ensure that everyone’s needs and interests are met.

The concept of the invisible hand is that when individuals pursue their own economic self-interest, the market will automatically allocate resources efficiently, resulting in an equilibrium that benefits society as a whole. However, this does not necessarily mean that economic prosperity is distributed equally.

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Doeringer’s research suggests that japanese managers pay attention to values and attention to business performance.a. Trueb. False

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It is true that Japanese managers pay attention to values and attention to business performance

Businessman is the US and Europe know Japanese industry as an important supplier and competitor but they should know it as a teacher. Japanese managers especially those in business, behave in a strikingly different fashion from US and European managers. The Japanese apply different approaches and policies to tackle each of these problems. If there is one point on which all authorities on Japan are in agreement, they make decisions by consensus. Japan is known for having a traditional, formal and very ritualistic approach to conducting business which demands a focus on detail.

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How are economic resources allocated in a market​ economy?

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Economic resources in a market system are allocated to their most productive use through market prices.

What is the economic resource?

They serve as the raw material for the creation of other types of capital. They promote taxation, income, and the fight against poverty. Natural resource-related industries create jobs and are frequently the backbone of the economies of poorer towns.

Land, labour, capital, and entrepreneurial skill are the four main economic resources, also known as production components. Land refers to any natural resource used in the manufacturing process, including what is visible on the surface.

Markets coordinate all factors of production and consumption in market economies, and property rights form private ownership of resources. In a market economy, resources are distributed to the use that will maximise their productivity using market prices.

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The roles of ___, ___, and ___ are critical for managers in nonprofit organizations.

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The roles of spokesperson, leader, and resource allocator are critical for managers in nonprofit organizations.

A non-governmental organization (NGO) is a non-governmental organisation that operates autonomously of any government. It is usually not for profit. NGOs, also known as civil society organisations, are formed at the local, national, and worldwide levels to achieve a political or social goal, such as humanitarian aid or environmental protection. NGOs may, for example, focus on activities encompassing health care or health emergencies, schooling, infrastructural facilities, minority rights advocacy, poor support, and crime reduction. Non-governmental organisations, or NGOs, play an important role in global development, aid, and charitable work. NGOs are frequently non-profit organisations with annual budgets in the millions or billions of dollars.

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How is the government involved in the automobile industry?.

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Government regu-lation in the automobile indus-try directly affects the way cars lo-ok, how their compo-nents are designed, the safety feat-ures that are inclu-ded, and the over-all performance of any given veh-icle.

Government regul-ation also has a signi-ficant effect on the automobile busi-ness by generally increasing pro-duction costs while also placing limit-ations on how cars are sold and mark-eted. Automobile regulations are desig-ned to benefit the consumer and pro-tect the environ-ment, and auto-makers can face stiff fines and other penal-ties if they are not follow-ed.

In the automobile industry, govern-ment inter-vention plays major role in main-taining safety of vehicle users, inno-vation and quality.

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What is the difference between public and private sectors give examples?.

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The difference between public and private sectors is that private sector companies are privately owned by people. Governmental organizations are "owned" by and function on behalf of the public; they are not owned by specific individuals.

Difference between public and private sectors:

Companies that are owned, operated, and governed by individuals make up the private sector. While the government owns and controls a variety of business enterprises in the public sector.The government offers financial support to businesses in the public sector, but it does not do so for businesses in the private sector.National Thermal Power Corporation, State Bank of India, Indian Oil Corporation Limited, Highway Authority Limited, Bharat Petroleum Corporation Limited, and National are a few examples of companies in the public sector.Reliance Industries Limited, ICICI Bank, and HDFC Limited are a few examples of the private sector.

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How many overdraft fees can be charged?.

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Federal laws do not specify maximum amounts for fees that banks can charge for overdrafts. These decisions are made by the bank. Banks are required to disclose any fees when the deposit account is established, and they are required to give you advance notice of any increase in a fee.

On October 1, 2020 Sunland Company issued 6%, 10-year bonds with a face value of $5930000 at 104. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on a straight-line basis. The entry to record the issuance of the bonds would include a credit of $237200 to Premium on Bonds Payable. $177900 to Interest Payable. $237200 to Discount on Bonds Payable. $5692800 to Bonds Payable

Answers

The entry to record the Issuance of the bonds would include a debit of $5,930,000 to Cash and a credit of $5,692,800 to Bonds Payable.

The difference between the face value of the bonds and the amount of cash received is either a premium or discount on the bonds. If the amount of cash received is greater than the face value of the bonds, a debit to Premium on Bonds Payable is recorded.

In this case, the $237,200 premium is recorded with a debit to Premium on Bonds Payable. This premium needs to be amortized over the life of the bonds, which is done with a credit to Interest Expense and a debit to Premium on Bonds Payable. The remaining portion of the entry is a credit of $179,900 to Interest Payable.

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how to remove hard inquiries from your credit report

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Contact the creditor responsible for the challenging inquiry.Explain that you trust there is an error on your savings report and request that they cast off the inquiry.Share correct important points about the improper difficult inquiry, such as the date of the savings check.How can I get inquiries removed from my savings record fast?

The quickest way to remove tough inquiries from a credit score report is to file a formal dispute. Credit bureaus will from time to time dispose of the disputed record proper away whilst they conduct an investigation, at which time it will both be reinstated or removed permanently.

How many points is a tough inquiry?

According to FICO, a hard inquiry from a lender will decrease your credit score rating five points or less. If you have a robust credit history and no different savings issues, you may additionally locate that your rankings drop even less than that. The drop is temporary.

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What is a characteristic of certificates of deposit CDs )?.

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A CD, or certificate of deposit, has a set interest rate that is often higher than the interest on on a standard savings account.

It also has a predetermined withdrawal date, or maturity date, and a predetermined term end date. You lock money in a CD for an amount of time that normally varies from three months to five years.

In the US, banks, thrifts, and credit unions typically offer certificates of deposit (CDs), a sort of time deposit. Certificates of deposit (CDs) and savings accounts differ from one another since a CD frequently has a fixed interest rate and a predetermined length of time (commonly one, three, or six months).

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In the context of the passage, how easy was it for a citizen living in ancient greece to change his or her class status? in your opinion, is socioeconomic status in contemporary society more fixed or more fluid than during ancient greece?.

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The majority of people resided in rural areas or small towns. Due to a lack of agriculture, water, and building materials, most of ancient Greece suffered from terrible conditions and a difficult transition to new lifestyles.

What are your knowledge of ancient Greece?

The most well-known illustration of ancient Greek citizenship comes from the capital city of Athens. Every resident in Athens now has the opportunity to participate in democratic elections. With the use of this mechanism, Athenians were able to choose their own leaders and seats on the important legislative council, where they could discuss pressing issues. The extended family plays a significant role in a person's life, and the majority of Greeks deeply integrate their families into their social lives. Greeks typically take great pride in their families. Being a collectivist way of life, people's impressions of a character's recognition, reputation, and honor are influenced by their family background.

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estimate how much taxes will be taken out of my paycheck

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Your company will deduct taxes, Social Security, and Medicare from your take-home pay. Your income, number of dependents, and filing status will determine the federal expenses taken from each paycheck.

One way to reduce how much tax you owe is to take advantage of tax deductions, which are subtracted from your taxable income. You have the option of taking the standard deduction, which is a lump sum deduction, or of itemizing your deductions on Schedule A of your income tax return.

Payroll deductions are the dollar amounts subtracted from an employee's gross pay to cover mandatory withholdings, court-ordered garnishments, and voluntary contributions to perks like health insurance. These withholdings, which may include income taxes, levies for social security, and 401(k) contributions, account for the difference between gross and net compensation.

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What are sales that are forecasted?
estimated markdowns
shrinkages
planned stock levels
planned sales

Answers

Planned sale are sales that are forecasted. Planned sale helps forecast the level of sales you want to achieve and outline a plan to reach your goals. Sales plans include past sales, risks, market conditions, target individuals, and prospect and sales plans.

What is sales plan?

A sales plan is a set of strategies designed to help the sales team achieve their target sales quotas and the company to achieve its overall sales goals. A sales plan helps you forecast the level of sales you want to achieve and outline a plan to reach your goals.

Why are sales plans important?

Sales planning is important because it helps you anticipate potential risks and allows you to mitigate them proactively. Not only does it help you develop a strategy, but it also puts you in control of your product because it helps you determine the current status of your product, where you want it to go, and how you can get your hands on it.

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A martphone cot $850, and it reell value decreae by 11. 2% each year. How much will the phone reell for in three year? Round your anwer to the nearet whole number

Answers

A smartphone costs $850, and its recell value decreases by 11.2%each year. The phone will sell for $717 in three years.

What do you know about a smart phone?

A smart phone is a type of mobile phone that combines the features of a cellular phone with those of a computer. It typically has a touchscreen display and an operating system that allows the user to install and run applications. Smartphones typically include features such as web browsing, email, multimedia playback, gaming, and camera and video recording capabilities. Smartphones also offer a variety of features such as GPS navigation, voice commands, and the ability to access and share data on social networks. Smartphones also allow users to make voice and video calls, as well as access the internet and send and receive text messages.

So, The required answer is $717.

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Correct question: A smartphone costs $850, and its recell value decreases by 11.2% each year Round your answer to the nearest whole number.

The purpose of both mitosis and meiosis is to create new cells. Both processes involve the replication of genetic material within the cell, and both take place within a sexually reproducing individual. There is a difference between the processes, however. What is one crucial difference?.

Answers

Mitosis is the process of a single cell dividing into two identical daughter cells, while meiosis is the process of a single cell dividing into four daughter cells with half the amount of genetic material.

What do you mean by Mitosis?

Mitosis is a part of the cell cycle and involves the division of the nucleus and the duplication of the genetic material contained within. During mitosis, a cell divides into two identical daughter cells that contain the same number and type of chromosomes as the parent cell. This occurs during the metaphase stage of the cell cycle when the chromosomes are lined up in the middle of the cell. After mitosis, cytokinesis occurs which is the final stage of the cell cycle and involves the physical separation of the two daughter cells. Mitosis is necessary for the growth, development, and repair of multicellular organisms.

So, Mitosis is the process of a single cell dividing into two identical daughter cells, while meiosis is the process of a single cell dividing into four daughter cells.

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Which branch of texas government is responsible for setting the budget? question 5 options: a. executive b. judicial c. legislative d. municipal

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The a) executive branch of Texas government is responsible for setting the budget.

The executive branch of the Texas government plays a vital role in ensuring the state is financially secure.

They are responsible for setting the budget for the year and managing the state’s funds, so it is essential that they are able to make informed and wise decisions.

The governor, lieutenant governor, comptroller, and attorney general are the four major offices within the executive branch and are responsible for ensuring that the state’s financial obligations are met.

The budget is created annually and is an important part of the state’s financial planning. It is also used to determine how much money is available to fund various state services and programs.

The executive branch is responsible for overseeing the budget process and making sure that the funds are being used correctly and efficiently.

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What is a product with inelastic supply?.

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Inelastic supply refers to go-ods where the level of supply will not signifi-cantly change as prices change. Usually, the-se are goods whe-re it is hard to add or sub-tract to the supply, or suppliers are ope-rating at nearly full capa-city.

One exam-ple of a good wi-th inelastic supply is hou-sing. Inelastic products are usu-ally necessities without accept-able substitutes. The most com-mon goods with inelastic dem-and are utilities, prescri-ption drugs, and toba-cco products. Businesses offer-ing such products maintain greater flexi-bility with prices beca-use demand remains cons-tant even if prices in-crease or decrease.

Exam-ples of go-ods with inelastic dem-and include gasoline, nece-ssary foods, and prescription drugs.

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the date/time and amount of an atm transaction is an example of ____.

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The date, time, and amount of an ATM transaction is an example of metadata.Metadata refers to data that provides information about other data.

In this case, the date, time, and quantum of an ATM sale give information about the sale itself. The date and time inform us when the sale took place.while the quantum tells us how important plutocrat was withdrawn or deposited.

This metadata helps us understand the environment and details of the sale, and is useful for shadowing, monitoring, and assaying ATM operation.Metadata is used extensively in colorful systems and operations to give a more complete picture of the data being stored and used.

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How do international organizations work together to end poverty and its effects around the world? select three answers. a. they lend money.b. they build infrastructure. c. they establish economic programs. d. they send military aid. they send food aid.

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International organizations work together to end poverty and its effects around the world as a. they lend money,  c. they establish economic programs, e. they send food aid.

International organizations are committed to making a lasting impact on poverty and its effects around the world. To achieve this goal, they take a variety of approaches.

These include lending money to developing countries, establishing economic programs to promote sustainable growth, and providing food aid to people in need.

By working together, these organizations are creating a brighter future for those affected by poverty.

International organizations are committed to ending poverty and its effects around the world.

To accomplish this goal, they lend money, establish economic programs, and send food aid. These initiatives provide essential resources and support to those in need, helping them build a better life.

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can i still get a refund if no federal taxes were withheld

Answers

Yes, if you qualify for tax credits such as earned income credit, child tax credit, etc.

Marlie, an American who has health insurance through her employer, wants to have some elective cosmetic surgery done. She is horrified by the out-of-pocket expenses she would incur were she to get it done in the United States, but her insurance provider also works with surgeons in other countries, where the cost of care is lower, and refers her to a surgeon in Thailand. Marlie is best described as engaging in _____ in order to get the surgery she wants

Answers

Option C, Marlie is best depicted as taking part in the medical tourism industry to get the medical procedure she needs.

Marlie, an American with health care coverage through her manager, needs to have an elective restorative medical procedure done. She is upset by the personal costs she would confront if she somehow happened to make it happen in the US.

Her protection supplier works with specialists in different nations where the expense of care is lower and alludes her to a specialist in Thailand. Marlie is venturing out to one more country for clinical therapy and is participating in clinical the travel industry.

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The question is -

Marlie, an American who has health insurance through her employer, wants to have some elective cosmetic surgery done. She is horrified by the out-of-pocket expenses she would incur were she to get it done in the United States, but her insurance provider also works with surgeons in other countries, where the cost of care is lower, and refers her to a surgeon in Thailand. Marlie is best described as engaging to get the surgery she wants. Select one: a doctor shopping b. out-of-network care c. medical tourism d. gatekeeper bypassing e quality sacrifice

The overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a new

Answers

The overall process of launching a new product involves a series of steps that must be completed in order to ensure the success of the product.

The first step is to develop a strategic plan that outlines the objectives of the new product. This plan should include an analysis of the current market and the competitive landscape, a detailed description of the product’s features and benefits, and a timeline for the launch.

Next, the organization must be organized to launch the product. This includes setting up teams to develop the concept, create the product, develop the marketing plan, and evaluate the product. Once the concept and product are created, the marketing plan must be developed to reach potential customers.

Finally, the product must be commercialized to make sure it reaches the intended market. This includes developing pricing strategies, distribution channels, and promotional campaigns. By following this process, organizations can properly launch their new product and maximize their chances of success.

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a financial statement showing the revenue and expenses for a fiscal period.

Answers

Income Statement - A financial statement showing the revenue and expenses for a fiscal period.

A financial statement that details the earnings and outlays for a certain fiscal year. This is accurate because an income statement, which is a financial statement, displays both expenses and revenue for a certain fiscal period. The revenues, expenses, and profitability of a company are shown on an income statement over time.

The time frame depicted in a financial statement is known as a fiscal period. A quarter or an accounting term is typical.

The four primary types of financial statements are as follows. One financial statement that details expenses and revenues is the income statement.

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What part of the inner ear is involved in hearing? the electric field lines on the left have twice the separation of those on the right. (a) If the magnitude of the field at A is 40 N/C, what is the magnitude of the force on a proton at A? (b) What is the magnitude of the field at B? Why do we use perpendicular distance in torque?. Berthold is writing this letter stated that society was created by a social contract called _____ Which statement correctly describes one characteristic of the tubelike digestive system of an earthworm?a. Various parts of the system perform different digestive functions.b. The shape of the system allows food to be processed by intracellular digestion.c. The shape of the system eliminates the need for egestion.d. Digestive enzymes are not used in the system. ferris company began january with 8,000 units of its principal product. the cost of each unit is $7. merchandise transactions for the month of january are as follows: purchases date of purchase units unit cost* total cost jan. 10 6,000 $ 8 $ 48,000 jan. 18 8,000 9 72,000 totals 14,000 120,000 * includes purchase price and cost of freight. sales date of sale units jan. 5 4,000 jan. 12 2,000 jan. 20 5,000 total 11,000 11,000 units were on hand at the end of the month. problem 8-5 (algo) part 5 5. calculate january's ending inventory and cost of goods sold for the month using average cost, perpetual system. (round average cost per unit to 4 decimal places. enter sales with a negative sign.) which one of the following statements regarding corporations is correct?A. A corporation is a separate legal entity.B. A corporation has easy transferability of ownership.C. A corporation may have the ability to raise large amounts of capital.D. A corporation's owners have unlimited liability. Estimate a 15% tip on a dinner bill of $39.62 by first rounding the bill amount to the nearest ten dollars. What is the product of 2x2x2?. The measure of an angle is 166.7. What is the measure of its supplementary angle?i need help plsss What was terrible about the months from September 1848 to May 1849 for the family? Solve for x.z = 6 x yThis is to help others and myself who are stuck here! Reward: Brainiest Where does Daisy say Gatsby gets his money? A. He won it at the racetrack.B. He invests in the stock market.C. He inherited his money.D. He owns drugstores. While you are breathing into a plastic bag,1. What happens to the levels of carbon dioxide in the bag? 2. What happens to the levels of carbon dioxide in your lungs? 3. What happens to the levels of carbon dioxide in your blood? 4. What happens to the levels of carbon dioxide in your brain? While you are breathing into the plastic bag, 5. What happens to the levels of OXYGEN in the bag? 6. In your lungs, blood, and brain? 7. What change would you predict in how long you can hold your breath after breathing into the bag? which of the following statements about the role of african americans in southern politics is correct? Let A1,A2, be Lebesgue-measurable subsets of [0,1] of measure 1/2, and let A denote the set of points x such that x belongs to infinitely many of the sets An. How we can show that the Lebesgue measure of A is at least 1/2. A swimmer capable of swimming with velocity v relative to water jumps in a flowing river having velocity u. The man swims a distance d downstream and returns back to the original position. Find out the time taken in complete motion.a. 2dv/v^2 - u^2b. dv/v^2 - u^2c. 3dv/v^2 - u^2d. 4dv/v^2 - u^2 the fact that most compounds of this chemical class are synthesized from the combination of carbon and water accounts for the derivation of the term What is the basic difference between gerund and participle explain with examples?.