Use the average daily balance method to compute the finance charge on the credit card account for the previous month. The starting balance and transactions on the account for the month of April are given to the right. Assume an annual interest rate of 18%. Month: April (30 days); previous month's balance: $550 April 11 April 14 April 22 Amal 04 . Charged $36 for a coat Made payment of $80 Charged $126 for DVDs

Q: Investigate the concept of breakeven volume and explain the characteristics drive of BEV.

A: Break even volume is that volume of sales at which there is no profit or loss to the firm.

Q: What is general ledge

A: What is general ledger?.

Q: Define geometric-gradient-series?

A: When there is a change in the cash flows series whether it is positive or negative then the series…

Q: What are IO and PO strips?

A: Mortgage-backed securities: The financial instruments intended in raising investment which is…

Q: Define DuPont equation

A: A Du-pont analysis is an equation which calculates the return on equity by multiplying net profit…

Q: Explain noncumulative pari passu distribution?

A: Pari passu refers to equal footing in Latin. It is the situation where all the stakeholders of the…

Q: What is common size analysis?

A: Answer: Common size analysis that measures the percentage sums of each element on the financial…

Q: Define correlation

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Q: Define Factoring.

A: Accounts Receivable: It refers to the amount of money due to the company from the debtors.

Q: Describe the Scatterplot Method

A: The objective of the question is to understand the Scatterplot method, which is a graphical…

Q: so where the 2nd ansawer

A: Relevant cost is the cost which alters under two alternatives. Variable cost hence are relevant and…

Q: What is Mark-up chain?

A: Introduction: Markup is generally shown as a percentage of the cost or the sale price. The term…

Q: What is peachtree

A: The answer is provided as follows:

Q: Define conversion ratio

A: Ratios are used in financial analysis to determine different aspects about the financial condition…

Q: Define binomial lattice

A: A binomial is a polynomial that includes the addition of two terms of the monomial.

Q: Explain gaining ratio

A: Introduction:- Gaining ratio may be defined as Gaining ratio is a type of financial tool, which…

Q: How is RI calculated?

A:

Q: Define workout

A: Introduction: A workout may be part of bankruptcy process. Bankruptcy is a condition where the…

Q: Define split-off point.

A: Contribution approach: The contribution approach calculates the net profit by calculating the…

Q: Define Double-entry system.

A: Double entry system: Double entry system is a way of accounting or bookkeeping which implies that…

Q: What are the categories of processing controls?

A: Internal Control:   It is a process of assuring the effectiveness and efficiency of the objectives…

Q: Define characteristic line

A: Characteristic line is a graphical representation of alpha (α) where alpha is the difference between…

Q: Define two-bin method

A: Inventory: Inventory refers to the stock of goods purchased, utilized and maintained by the company…

Q: What is a sweep?

A: A sweep account is a bank account or brokerage account that will automatically transfers amounts…

Q: Characteristics of factor factor model

A: Factor models are mathematical models that are developed to estimate the returns of financial…

Q: Describe about the concept of COGS.

A: Cost of goods sold (COGS): Cost of goods sold is the accumulate amount of all direct cost incurred…

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.