User Account

All Pages

What would be the total interest paid

Assignment Help Accounting Basics
Reference no: EM132982732

Question - While she was travelling, Zainab took advantage of the convenience of cash withdrawals on her credit card since her Canadian debit card wasn't accepted in the country she was in. According to her travel budget she withdrew $150 every day for food, activities and shopping for 21 days. When she got home, on the 21st day, she checked her credit card bill on-line and it showed that she had been charged interest already even though her payment wasn't past due. It turns out that interest is compounded daily on cash withdrawals, from the day the cash is withdrawn. 

If the interest rate on cash withdrawals is 28%, what was her total bill when she got home? What would be the total interest paid?

Reference no: EM132982732

Questions Cloud

Prepare the financing activities section of the statement : Prepare the financing activities section of the statement of cash flows for Colony LLC for the year ended December 31, 2017
Prepare journal entries to record the transactions : Prepare journal entries to record the transactions and closings for 2020 (assume the retirements were the first ever recorded by Zen Aerospace)
What was the required journal entry at the beginning : If this budget was formally integrated into the accounting records used to produce the Fund Financial Statements, what was the required journal entry
What adjustment should be made in the cost of sales : What adjustment should be made in the cost of sales of the group statement of profit or loss in respect of unrealised profit for year ended 30 September 2019
What would be the total interest paid : If the interest rate on cash withdrawals is 28%, what was her total bill when she got home? What would be the total interest paid
Calculate the firm predetermined plantwide overhead : Assume that the firm uses machine hours as its overhead cost driver then Calculate the firm's predetermined plantwide overhead rate.
Use the reciprocal services method to allocate the budgeted : Use the reciprocal services method to allocate the budgeted costs of the human resources and computing departments to the deposits and loans departments.
How might you treat optic neuritis : Suppose Henrietta Hen received $20 for her birthday. How might you treat optic neuritis
Give an explanation of the areas in the income statements : Give an explanation of the areas or indicators in the income and cash flow statements that are most important for determining corporate valuation

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd