All categories

2 years ago

When Jenny Jimenez was attempting to pay off $37,000 in debt, how did she decide which cards to pay off first?

Business

1 answer:

zlopas [31]2 years ago

8 0

Jenny Jimenez paid only the minimum required on every credit card, except for the one with the highest interest rate.

This is true, If you put more budget on your payments for the credit card having the highest interest rate, you'll pay the whole balance more quickly. Then, do the same with the other remaining cards, pay the balance which has the highest interest rate.

You might be interested in

Rough Stuff makes 2 products: khaki shorts and khaki pants for men. Each product passes through the cutting machine area, which

ozzi

Answer:

$8,000

Explanation:

khaki shorts khaki pants

machine minutes per unit 15 24

contribution margin per unit $16 $32

CM per machine minute $1.067 $1.33

minimum demand 3,000 3,000

machine minutes required 45,000 72,000

total machine minutes available 288,000

total machine minutes remaining 171,000

production 0 7,125

total production 3,000 10,125

total contribution margin $48,000 $324,000

if 100 more machines hours are added, then production time increases by 6,000 minutes which can be used to produce 250 more khaki pants. Contribution margin will increase by 250 x $32 = $8,000

I calculated contribution margin per minute, but you could also calculate contribution margin per hour to determine which product is more profitable. Contribution margin per hour for shorts = $64, and for pants = $80. The answer will not change.

8 0

2 years ago

Marks Consulting purchased equipment costing $45,000 on January 1, Year 1. The equipment is estimated to have a salvage value of

Tasya [4]

Answer:

B) Debit to accumulated depreciation for $22,500.

Explanation:

As for the information provided,

Depreciation under straight line method for each year = ($45,000 - $5,000)/8 = $5,000 for each year.

Depreciation for 4 years = $5,000 $\times$ 4 = $20,000

Depreciation in 5th year for 6 months = $5,000/2 = $2,500

Total depreciation till 1 July Year 5 = $20,000 + $2,500 = $22,500

Carrying value of equipment in books as on date of sale = $45,000 - $22,500 = $22,500

Sale price = $20,000

Profit or loss on sale of equipment = $20,000 - $22,500 = - $2,500

So therefore, there is loss of $2,500

Thus, option c and option d are invalid.

Further cash received on sale is debited and not credited thus, option a is also invalid.

As the total accumulated depreciation = $22,500

The correct entry will include debit to accumulated depreciation of $22,500.

Thus, option b is correct.

6 0

2 years ago

B.f. skinner, a behaviorist, would argue that the most important things that shape development are _____.

bulgar [2K]

B.F. Skinner, a behaviorist, would argue that the most important things that shape development are rewards and punishments.
Burrhus Frederic Skinner was an American psychologist, author and inventor.
His theory of operant<span> conditioning describes the idea that behavior is determined by its consequences.</span>

8 0

1 year ago

Kerry, the new sales director, just completed her first staff meeting to set annual goals. She managed to get the team's consens

svetoff [14.1K]

Answer:

I notice two possible issues here:

First, focusing on selling only the base model might increase total sales volume but might not increase profits. Generally, premium models are more expensive and yield a higher contribution margin. I might be wrong here because there is no mention to contribution margins, but generally things work differently. E.g. car salespeople do not usually offer the base model first, they generally show the highest trims.

Second, in countries like Japan, common goals for groups might work since the culture is much more collaborative between group members. But in the US, where performance and success is measured on a much more personal way, it might not work very well. It doesn't mean that team work is no good, but making the whole group responsible for reaching a certain sales goal is not adequate. Imagine that you manage to increase your sales by 15%, but since the total sales of the entire group didn't increase as much and didn't meet the stated goals. What will happen to you? Under normal conditions, increasing sales in such a way would probably result in a bonus besides higher sales commissions.

7 0

2 years ago

How are the FAFSA, SAR, and EFC related?

liubo4ka [24]

Answer:

The correct answer is letter "A": The FAFSA is what you fill out to apply for financial aid. The SAR is a record of what you submitted in your FAFSA. The EFC is how much a college expects you and your family to contribute to your cost of college.

Explanation:

The Free Application for Federal Student Aid (FAFSA) is a form filled by future and current university students who would like to obtain financial aid for their studies. The form is submitted to the Scholars at Risk (SAR) Network who are in charge of evaluating the information and determine what the Expected Family Contribution (EFC) will be. The EFC represents the amount that the students' family or the students themselves will have to pay from their pockets.

3 0

2 years ago