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

Answers

Answer 1

Explanation:

One may ask: what is a credit card? In simple words, a credit card is a payment instrument (plastic card) that allows the cardholder to spend money they don't personally own in their account.

Hence, A typical credit card statement would inform me that I made a purchase worth $500, stating

The Payment Due Date: For example, it may be written that I must have made the credit balance by 31/12/XX. (Note, Failure to do so would in most cases lead to accruing of interest)The Minimum payment due: In this case, the $20 signifies a minimum payment that is significant enough to be recorded till the entire $500 balance is covered. However, it is not intended that only that amount be paid each month. If it were to be it would take me 25 months or 2 years 1 month ($500/$20) to complete the balance; which is not the best option likely considering the accrued interest to be paid.

Related Questions

What is a 401 (k) retirement plan? I NEED HELP:(

Answers

Answer:

-an employer sponsored retirement plan that allows a worker to save for retirement while deffering income taxes on the saved money or earnings until withdrawal.

Explanation:

just cause homie

A 401(k) retirement plan is a retirement plan sponsored by the employer where he or she deducts a small percentage of the gross pay of the employee.

What is the significance of the 401(k) retirement plan?

A 401(k) retirement plan can be referred to or considered as a plan where the employer contributes a fixed and a small proportion from the gross pay of the employee until the time he or she serves to the company of the employer.

An employee is free from paying any kind of taxation amount over the monies he or she has saved in a 401(k) retirement plan. However, the taxation is not a liability only until the employee makes a withdrawal.

Therefore, the significance regarding a 401(k) retirement plan has been aforementioned.

Learn more about 401(k) retirement plan here:

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PLEASE HELP ME!!!!! I need to know the best ways to make a small business known. I just started a small Scentsy® business with my mom. I don't do social media and my moms is mainly her private friends even though it is public.

Answers

Answer:

Buy ads and get social media

Explanation:

According to the article, how can you guarantee that your talk or speech will be interesting to your audience? Is this good advice? Why or why not? Justify your response.

Answers

Answer:

7 c's of communication

Explanation:

Talk or speech needs to be interesting for audience, to attain the desired goal of communication.

The public communication would be effective & interesting ; if it satisfies 7 c's of communication - Clear, Concise, Correct, Coherent, Complete, Courteous, Considerate.

Communication not satisfying one or many of above C's is likely to be ineffective &, or uninteresting for audience

NEED HELP ASAP

Complete the following sentence.

Chronological, functional, and targeted are just a few of the many formats for writing a _____.

Answers

Answer:

I think it's a story/book

Explanation:

because it's the only thing I can think of when I think of the words chronological, functional, and targeted.

The legal form of business ownership that is owned by two or more people is a ____
a) corporation
b) partnership
c) sole proprietorship
d) limited liability company
PLEASE HURRY FIRST CORRECT ANSWER GETS BRAINLIEST AND 15 POINTS

Answers

Answer:

b

Explanation:

partnership

Car dealer ben carte paid 97 percent of the base price of 22,567. he also paid 93 percent of options totaling 3,465. and a destination charge of $650. what is the dealers cost

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Answer: im also working on my school work and i also need help i tried to work on that question im confused but i know that 22,567-97% is 677.01

why only 4 percent manage to succeed in business of company ??​

Answers

Answer:

A lot of businesses don't succeed due to money problems, or no customers.

Explanation:

It takes tons of money to build up a business, its hard to get people to work for you, you’ve got to pay people to do things, it costs a ton. it’s hard!

In the first eight days after its release, how many Nintendo Wii systems were sold?

Answers

Answer

600,000 units

Explanation

Nintendo Wii sold 600,000 units of its new Wii video game console in the first eight days after its release in the Americas, as the company vies with rivals Sony Corp.

Controling does not require any process comment

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what’s the question?
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