Suppose your VISA card calculates interest using the average daily balance method, and the monthly interest rate is 2.1%. The itemized billing for the month of April is shown below. Detail Unpaid balance Charge Charge Charge Payment received Last day of billing period Payment due date Date April 1 April 3 April 11 April 15 April 28 April 30 May 7 Amount 395 65 410 1025 350 (a) Find the average daily balance. $ (b) Find the interest due for this month. $ (c) Find the total balance owed on the last day of the billing period. $ (d) This credit card requires a $20 minimum payment or 1/36 of the amount due, whichever is higher. What in the

Q: Why is it important to have an FMS option?

A: FMS "FLEXIBLE MANUFACTURING SYSTEMS" A collection of numerically controlled machine tools that are…

Q: Explain the potential advantages  and disadvantages of using CAATs

A: ADVANTAGES OF USING USING CAATs (COMPUTER ASSISTED AUDIT TECHNIQUES) 1. CAATs HELPS THE AUDITOR TO…

Q: Explain CMO Mechanics?

A: Collateralized mortgage obligation: It is a financial instrument that raises funds by…

Q: Please elaborate on the following: 1. Scarcity 2. Divisibility 3. Portability

A: Note : As per the guidelines, only first three parts will be answered. Kindly post the remaining…

Q: Define the Base Case and the Proposed Alternatives?

A: The base case is the output expected from the basic assumption made by the project team. The basic…

Q: how does it became an over applied OH? how will you know that it is under or over applied OH?

A: Lets understand the basics. When applied overhead is more than actual overhead then it is known as…

Q: Important Factors to Consider When Building a TCO Model Example of a TCO Model?

A: TCO model or Total Cost Ownership Model is an model used to estimate the cost of product or a…

Q: Describe about the DVL methods and what are its advantages?

A: Dollar-value-LIFO: This method shows all the inventory figures at a dollar price rather than units.…

Q: Why is there conflict between the NPV and IRR criteria between projects Y and Z? Which is typically…

A: In this question, we are required to determine the reason for conflict between IRR and NPV. Also, we…

Q: Explain the call-put parity relation and how it is justified?

A: call-put parity relation 1. It shows the prices of calls and puts , consistency of underlying…

Q: What are the advantages and disadvantages of  FIFO?

A: First-in-First-Out:  In First-in-First-Out method, the costs of the initially purchased items are…

Q: What exactly are ESOPs? What are some of its benefits and drawbacks?

A: Introduction: ESOP: Employee stock ownership plan is retirement plans for employees of the company…

Q: How do I solve these?

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Explain Anti-dilutive Security

A: Explanation to Securities Securities are referred to as the tradeable financial instruments which…

Q: important to have an FMS option

A: FMS Stock Options refers to all outstanding options to buy stocks of FMS Common Stock bestowed under…

Q: Des the  Initial project screening by the payback method reduce the information search? How?

A: It refers to the time period that is required to get an amount invested in a project with some…

Q: Could a CMO exist without a Z class

A: Introduction: A CMO is a form of mortgage-backed securities in which many different types of…

Q: Explain the decision rules of NPV, IRR, and BCR. Which one you think is important for project…

A: Net Present Value (NPV) is referred to as the difference between the PV of cash inflows as well as…

Q: Describe the PW method?

A: There are different types of methods for comparing the worthiness of the projects. Some of the tem…

Q: Why is the NPV preferred over the IRR?

A: Net Present Value is a method of finding the profitability of a project by discounting future cash…

Q: Explain the drawbacks of IRR over MIRR with example?

A: Capital budgeting is part of investment decisions. Business firms consider capital budgeting in…

Q: Explain red herring

A: Red herring It is an introductory prospectus recorded with the Securities and Exchange Commission…

Q: A project with a negative NPV should be rejected. O True O False

A: Net present value  = present value of future cash inflows discounted at desired rate of return -…

Q: what method is preferred method IRR or NPV and why

A: This is related to capital budgeting.Both NPV and IRR are tools of capital budgeting that we use to…

Q: Why option A is incorrect?

A: revenue is generated by the business whenever  goods or services are sold by the business.this leads…

Q: Why would a proposal not be accepted

A: A proposal refer to a document containing details of how to implement the plans for achieving the…

Q: What are the advantages and disadvantages of  LIFO?

A: Last-in-First-Out: In Last-in-First Out method, the costs of last purchased items are considered as…

Q: LIFO instead of FIFO

A: Inventory valuation plays a key role in any company. However, the choice of the valuation method…

Q: Define the term Multiple Peril?

A: Multiple-perilIt is the insurance coverage package for small and commercial businesses. It is the…

Q: Explain recourse

A: A recourse is a legal right to demand a compensation  or repayment. it is an legal agreement that…

Q: What is the concept behind the EOQ model?

A: Economic Order Quantity (EOQ) Model: It is a method of inventory costing that aims to identify the…

Q: Describe the fundamentals of Replacement-Analysis?

A: Replacement analysis is the process where it is determined whether it would be beneficial to replace…

Credit card

A credit card is provided by financial institutions or banks, which permits a person to borrow money on a preapproved limit for purchases on a credit basis. The credit limit is decided by the institution and bank which issues a credit card depending on the person’s credit score and income. A cardholder can use the card for credit purchases, a balance transfer, cash advances.