Adjusted Balance Method-
Interest $______
New Balance $______
Average Daily Balance ≈ $475.42 Interest ≈ $4.75 New Balance ≈ $369.75
To calculate the interest and the new balance using the Adjusted Balance Method, you first need to find the average daily balance. The Adjusted Balance Method considers the balance after subtracting any payments made during the billing cycle. Here's how to calculate it:
1. Start with the previous balance: $500
2. Add the purchases made during the billing cycle:
- May 12: $25
- May 22: $100
- May 30: $50
Total purchases = $25 + $100 + $50 = $175
3. Subtract any payments made during the billing cycle:
- May 20: $110
4. Calculate the average daily balance. To do this, you need to consider the number of days each balance was carried during the billing cycle. Assuming a 30-day billing cycle, here's how you calculate it:
- For the first 8 days (May 1 to May 8), the balance is $500.
- For the next 4 days (May 9 to May 12), the balance is $500 + $25 (May 12 purchase).
- For the next 10 days (May 13 to May 22), the balance is $500 + $25 (May 12 purchase) + $100 (May 22 purchase).
- For the last 8 days (May 23 to May 30), the balance is $500 + $25 (May 12 purchase) + $100 (May 22 purchase) + $50 (May 30 purchase) - $110 (May 20 payment).
5. Calculate the average daily balance by summing up the balances for each period and dividing by the total number of days in the billing cycle (30 days in this case).
Now that you have the average daily balance, you can calculate the interest using the monthly interest rate of 1% (12% per year):
Interest = Average Daily Balance * Monthly Interest Rate
New Balance = Previous Balance + Purchases - Payments + Interest
Please calculate the average daily balance and then use the interest formula to find the interest and update the new balance.
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Answer:
The answer is: B) lost ownership of the stock.
Explanation:
In the 1920s traders borrowed on margin to buy stocks. This means that they put a little amount of money to secure the buying of the stock and then borrowed the rest to complete the purchase. The problem with this was that if the price of the stock fell, the trader would lose all the money. On the other hand if the value rises, then the trader could make a lot of money. This was a very risky business practice.
Answer: Globalization
The process of conducting business on an international scale is a part of globalization.
Explanation:
Globalization refers to a process of interaction and integration between the people, companies, and governments across different nations in a seamless and integrated manner. It is driven by international trade, investment and supported with the use of information technology. It is interdependence of nations around the world advanced through free trade. It raises the standard of living in poor and less developed nations through the creation of job opportunities and improved access to goods and services.
The answer is globalization. This is when you are now bringing your economy from domestic to international level where you are now engaging in business transactions with other countries overseas. There will be many hurdles but these are necessary when competing in the global market.
b) false
Answer:
A. True
Explanation:
The term business intelligence refers to the plans, process through which the raw data is to be converted into meaningful information that became relevant for the ethical decision making so that the goals and the objectives of the company could be accomplished.
Data + Process = Information
Collection of information through internal and external parties would also help to analyze the trends, patterns for better decision making.
Therefore, the given statement is true.