please answer in detail with all work thanks no copy paste Tammy realizes that she has charged too much on her credit card and has racked up $15,000 in debt. If Tammy can pay $350 each month and the card charges 23 percent APR (compounded monthly), how long will it take her to pay off the debt?
Q: Bankers Acceptances are generally drawn to raise capital for Financing working capital Financing…
A: Bankers Acceptances - This is the assurance of the bank for the later payments. This document is…
Q: Lincolnshire Lumber sells boards for many uses including wood floors. For floors, the boards are…
A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…
Q: Jamal takes a book out from the library. What kind of bailment is this? Select one: a. mutual…
A: Bailment - Under bailment transaction bailor transfers property on a temporary basis to the bailee…
Q: What is the amount of each payment?
A: Given in the question: Borrow amount = $50,000 Interest Rate = 12% Time = 4 Years Loan has to be…
Q: The financial statement that reports the revenue earned by the company is the income statement the…
A: Lets understand basics. Revenue is a consideration received by the company for the supply of goods…
Q: Last year Minden Company introduced a new product and sold 25,800 units of it at a price of $95 per…
A:
Q: If interest rate is 10% per year, which one of the following annuities give maximum benefit and…
A: In the given question, different set of annuities having different time periods and amounts is…
Q: Wert Corporation uses a predetermined overhead rate based on direct labour cost to apply…
A: The overhead is applied to the production on the basis of predetermined overhead rate. Predetermined…
Q: Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25…
A: Weighted Average Cost Method - Under this Method company sums all the inventory purchase with the…
Q: Xales and Yolanda have original investments of $45,500 and $110,000, respectively, in a partnership.…
A: The partnership comes into existence when two or more persons agree to do the business and further…
Q: Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and…
A: Budgeting is the process of estimating future cost that is to be incurred during a specific period…
Q: The Johnson Company uses an absorption-costing system based on standard costs. Variable…
A: Absorption costing system It is a managerial accounting method for recording all costs associated…
Q: The cost of direct materials transferred into the Filling Department of Ivy Cosmetics Company is…
A: Direct Material Cost - It is the cost incurred by the company on the direct materials transferred…
Q: Harris Company manufactures and sells a single product. A partially completed schedule of the…
A: Variable Cost - Variable Costs are the cost that varies according to the change in Sales Unit. Fixed…
Q: Electro Company manufactures transmissions for electric cars. Management reports ending finished…
A: Production Budget - Production budget is very important part of budget. This is calculated by the…
Q: The Filling Department of Ivy Cosmetics Company had 2,000 ounces in beginning work in process…
A: In the given question it is given that the materials are added at the beginning of the process it…
Q: differential costs where you had to choose between two alternatives
A: Differential cost refers to the difference between the cost of two or more alternative options. It…
Q: Chulak Company uses a standard costing system. The following data are available for the month:…
A: The variance is the difference between the actual data and standard output of the production.…
Q: What is the amount of Oriole company's inventory?
A: Valuation of Inventory: When a company is compiling its financial accounts, one of the accounting…
Q: Sixty employees (all CPAS) of a local public accounting firm eat lunch at least twice weekly at a…
A: 1. The average cost for each CPA in each group is as under Group A1 - $6 Group A2 - $8 (Note Total…
Q: QUESTION 1 QUESTION 1: VARIABLE COSTING QUESTION Bairstow Company manufactures and sells a single…
A: In absorption costing fixed costs are allocated to the units, thus it becomes part of each unit.…
Q: On January 1, 2021, Fowl Products issued $89 million of 6%, 10-year convertible bonds at a net price…
A: Req. Account Titles Debit Credit 1. Cash $91,500,000 Convertible bonds payable $89,000,000…
Q: An employee has weekly earnings of $750.00. What is their Canada Pension Plan contribution? O $34.44…
A: Answer:- Canada Pension Plan meaning:- The Canada Pension Plan retirement pension is basically a…
Q: The table below shows the bond issuer name, coupon, issue date, maturity date, rating, last traded…
A: The yield to maturity is the total estimated return that can be earned if the investor holds the…
Q: : The term "privacy" does not appear anywhere in the Constitution of the United States. Discuss…
A: Constitution- The United States Constitution is a document that establishes the foundation for the…
Q: R Consulting is a management consultant. Its reported net income in the most recent year was £23…
A: Return on equity=Net IncomeTotal Equity×100
Q: What was the standard cost per unit of product? (Round answer to 2 decimal places, e.g. 2.75.)…
A: Standard rate is the rate at established to as basic limited rate as per actual practice of…
Q: One company has estimated that $3150 of its accounts receiable will be uncollectible. If allownace…
A: Bad debts expense: Bad debts expense is recognized in the books of the company when a debtor is…
Q: Prepare the incremental analysis for the decision to make or buy the lampshades. (Round answers to 0…
A: Make or Buy Decision :— it is the important decision since it effect the productivity of the…
Q: According to the revenue recognition principle, revenues should be recognized when or as the company…
A:
Q: How can the quick ratio be determined with the given information?
A: Quick Ratio: Quick ratio is a liquidity ratio calculated for the purpose of evaluating the liquidity…
Q: Oswego Clay Pipe Company provides services of $46,000 to Southeast Water District #45 on April 12 of…
A: Introduction:- If the customer made payment within discount period, he is eligible for sales…
Q: ich of these statements is not correct? Australian accounting standards are not enforceable by the…
A: Accounting standards are very important for any country in maintaining standard of accounting and…
Q: Rob transferred the following assets and liabilities to Warble Corporation. Adjusted Basis Fair…
A: Calculation of Rob transferred the following assets and liabilities to Warbler Corporation as…
Q: During the most recent year, Papasab Company had the following data: [Pada tahun terakhir, Syarikat…
A: Variable Costing - Under variable costing method, variable costs are considered when cost of goods…
Q: Forest is a full-time employee in Marlboro, South Dakota, who earns $58,450 annually, paid biweekly.…
A: the maximum amount that may be held from his pay for a child-support garnishment = up to 50% of your…
Q: Decreases in liability accounts are recorded on the debit side the credit side the right side the…
A: Liabilities are an obligations on the entity. These are to repaid by the entity at a future date.…
Q: Job costs At the end of May, Calypso Company had completed Job 200 and Job 305. Job 200 is for…
A: As you have provided to use exercise a,b & c only for reference for the first two questions.…
Q: You MUST use the TI BA II calculator features (N, I/Y, PV, PMT, FV, AMORT) to solve questions…
A: Comment- We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: Raw materials purchased on credit Direct materials used Direct labor used Overhead rate Prepare…
A: The journal keeps the record for day to day transactions on regular basis. The direct costs incurred…
Q: Calculate the annual depreciation and book value of the construction equipment using declining b…
A: Depreciation- Depreciation is the term used in accounting to describe how an asset's value…
Q: BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137700 paid to its…
A: Employees' payroll tax expenses = FICA—Social security taxes payable +FICA—Medicare taxes payable…
Q: Shamrock, Inc. uses the lower-of-cost-or-market basis for its inventory. The following data are…
A: Lower-of-cost-or-market is one of the inventory valuation methods according to which inventory or…
Q: On January 1, 2016, Star Company received P107,720 for a P100,000 face amount, 12% bond, a price…
A: One of the source used by the business entities to meet their financial requirements is issue of…
Q: Jasper Company has 62% of its sales on credit and 38% for cash. All credit sales are collected in…
A: April May June Cash sales 38% $196,460 $200,260 $209,760 Sales on…
Q: Crestview Estates purchased a tractor on January 1, 2018, for $65,000. The tractor's useful life is…
A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…
Q: The following CVP income statements are available for Blanc Company and Noir Company. Sales Variable…
A: Solution... Contribution margin ratio = Contribution margin ÷ sales revenue
Q: At the beginning of 2022, no Co. has an inventory amounting to P400,000. During the year, no Co.…
A: Inventory Turnover Ratio=Cost of Goods SoldAverage Inventory
Q: 1 Journal Entries: 1. On June 1, $14,098 was paid to accounts payable. "2. On June 2, $11,000 in…
A: S.NO PARTICULARS DEBIT ($) CREDIT ($) 1 TRADE PAYABLES A/C DR 14098 TO CASH A/C…
Q: Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost…
A: The overhead is applied to the production on the basis of predetermined overhead rate. The overhead…
please answer in detail with all work thanks no copy paste
Tammy realizes that she has charged too much on her credit card and has racked up $15,000 in debt. If Tammy can pay $350 each month and the card charges 23 percent APR (compounded monthly), how long will it take her to pay off the debt?
, how much interest will Tammy pay if she chooses to continue in making monthly payments of $350?
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
- Solve urgent i will rate Madeline Rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now, Madeline is living at home and works in a shoe store, earning a gross income of $1,220 per month. Her employer deducts a total of $300 for taxes from her monthly pay. Madeline also pays $180 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $270 per month. Calculate her debt payments-to-income ratio with and without the college loan. (Remember the 20 percent rule.) (Enter your answers as a percent rounded to 2 decimal places.) Can she currently afford the school loan? multiple choice Yes NoAngela's bank gave her a 2-year add-on interest loan for $6,120 to pay for new equipment for her antiques restoration business. The annual interest rate is 8.28%. How much interest will she pay? What are her monthly payments? Question content area bottom Part 1 She will pay $enter your response here in interest on the loan. (Round to the nearest cent.) Part 2 Her monthly payments are $enter your response here. (Round to the nearest cent.)1. Betty Thomas borrowed $6500 onher Visa card to install a hot tub with landscaping around it. The interest charges are 1.6% per month on the unpaid balance a) Find the monthly interest charges. b) Find the interest charges if she moves the debt to a credit card charging 1% per month on the unpaid balance. (c) Find the monthly savings.
- 1.Brooke’s credit card has an annual interest rate of 21% on her unpaid balance, which averages $900. (a) Find the monthly interest payment in dollars. Assume that monthly interest rates are 1/12 of the annual interest rates. (b) Brooke wants to pay off her credit card debt with payments of $100 per month until it is paidoff. Complete the shaded entries in the chart below. (When her balance is below $100, her final payment will be the balance due.) Month Intrest Payment Balance 0 $900.00 1 900 x 0.21/12=$15.75 $100.00 900+15.75-100=$815.75 2 815.75 x 0.21/12=$14.28 $100.00 815.75+14.28-100=$730.03 3 $100.00 4 $100.00 5 $100.00 6 $100.00 7 $100.00 8 $100.00 9 $100.00 10 TotalsA man borrows $60,000 to help pay for his college expenses. He intends to pay off the loan with regular monthly payments over the next 20 years. Find the monthly payment if he is being charged 4.7% interest per year, compounded monthly. Give the answer to 2 decimal places, and do not use the $ sign in the answer box. The monthly payment is Blank 1. Calculate the answer by read surrounding text. dollars.Mr. Owen is buying a new washer/dryer for $2459 at Home Depot. There is 7.5% sales tax added to his purchase. He plans to charge this to his Home Depot credit card, which earns 19.5% APR. He wants to pay $245 per month to the credit card. Fill in the amortization table to calculate how long it will take to pay off the loan. Month Balance Interest Amt. Applied to Principal New Balance 1 $2441.39 2 $2441.39 3 $36.34 $208.66 $2027.40 4 $2027.40 $32.95 $212.05 $1815.35 8 $226.18 $932.11 $231.29 $3.76 ----
- Give typing answer with explanation and conclusion You have a balance of $9700 for your tuition on your American Express credit card. Assume that you take no more charges on the card. Also assume that American Express charges 13% APR and that each month you make only the minimum payment of 4% of the balance. What will the balance be after 32 months? At what balance do you begin making payments of $60.00 or less? How long will it take to get the balance below $50?Amy bought a new car for $38,000$38,000. She paid a 20%20% down payment and financed the remaining balance for 4848 months with an APR of 4.5%4.5%. Assuming she makes monthly payments, determine the total interest Amy pays over the life of the loan. Round your answer to the nearest cent, if necessary.Solved Manually. Taylor Swift, a college student of USeP decides to get a student loan amounting to $4000 with an annual interest rate of 5% compounded monthly. If Tay-Tay makes a monthly payment of $250, how much does she owe after four months?
- Ben borrows a loan of $6,000 at 11% per annum on March 10. He plans to pay it different smaller amounts when he has some cash available. He manages to pay $2,500 on June 30th, and another $,2000 on September 5th. If Raymond pays the balance on November 15, how much will be his final payment. Note: from March 10 to June 30=112 days (March=31-10+1=22 + Apr=30 + May=31 + June=29 = 112 daysShow a handwritten Solution Dominic Torreto borrows $300,000 from a lending company in his hometown at 12% interest compounded monthly. To fulfill his obligation to repay the loan, Dominic agreed to start paying the six (6) equal monthly payments starting next month. If Dominic failed to pay the 2nd and 3rd monthly amortization, how much shall be the required single payment on the fifth month to fully pay his outstanding obligation? Supposed that he will still not be able to pay the single total payment on the Fifth month as stated in question 1 above, and assuming further that both parties agree that the outstanding obligations shall instead be paid in 7 equal monthly installments, at 15% compounded monthly, starting on the 9th month, what will the value of such monthly installment be? Show a handwritten SolutionPLEASE ANSWER IT ASAP FOR UPVOTE. I NEED IT NOW. 5. Justin saves 20% of his monthly salary into an investment account with an interest rate of 2% compounded quarterly. Justin was hospitalized in the beginning of the 8th month and wasn’t able to remit for 4 months. After 4 months of delay in payment, He resumed saving but to compensate for those missed payments he decided to increase his monthly savings to 30% of his salary. If Justin’s yearly salary is P240,000 pesos, what is the total value of his investment after 1 year since he opened the investment account?
