Interest is calculated on the average daily balance of Lisa's charge account. Find the finance charge if the average daily balance is $785.60 and the monthly interest rate is 1.6%
a. $14.80
b. $13.29
c. $15.56
d. $12.57
d
You might also like to view...
Costs incurred for purchases of merchandise result in an asset, Merchandise Inventory, and are eventually matched with revenue at the time the product is sold
a. True b. False Indicate whether the statement is true or false
Tyler is a police officer out on patrol. After talking on his radio to his dispatch, Tyler uses words such as “copy that” and “10-4”. These words are known as
a. slang. b. colloquialisms. c. jargon. d. lingo.
On March 1 . 2014, Hardy Corp became the lessee of new equipment under a noncancelable six-year lease. The total estimated economic life of this equipment is ten years. The fair value of this equipment on March 1 . 2014, was $100,000 . The lease does not meet the criteria for classification as a capital lease with respect to transfer of ownership of the leased asset, or bargain purchase option,
or lease term. Nevertheless, Hardy must classify this lease as a capital lease if, at inception of the lease, the present value of the minimum lease payments (excluding executory costs) is equal to at least a. $67,500. b. $75,000. c. $90,000. d. $100,000.
Which of the following indorsements can be negotiated just by delivery?
A) unqualified indorsement B) special indorsement C) special qualified indorsement D) blank indorsement