No Interest, Nothing Down Read the disclosure statement found below or on the Foundations website carefully and answer the questions below. You will need a calculator to complete the activity. Upload your answers to Black Board. Furniture Store Credit Card Disclosure Statement: On approved furniture store credit card purchases—based on your credit worthiness, other terms may apply. $2,399 minimum purchase required for this offer. Other finance offers available with lower minimum payment requirements. The purchase amount is divided into equal monthly payments for the promotional period. An additional $37 will be added to the following month’s payment when payment is received after the due date. No finance charges for 24 months. 23.9% standard rate, APR. The …show more content…
In addition to the three-piece sofa set above, Kelsey and Cody also purchase a $249 coffee table and $199 end table. What is the total amount financed, including $153 for tax and $75 for delivery? The total amount that Kelsey and Cody will finance with the additional purchases will be $2773. 4. According to the conditions above, what should their monthly payment be? If Kelsey and Cody do not send their payment in on time, what will the following month’s payment be? With the conditions provided in the promotion, they will be paying $115.54 each month. If they do not pay on time they will be charged a fee and will be required to pay $152.54 the next month. 5. Kelsey and Cody have been making payments on this furniture for 18 months, but Cody gets laid off from his job and their income drops substantially. They are unable to stay current on their account, even though they have paid $2,070 of the bill. According to the above terms, what happens to their bill? When their account is not current the promotion will be cancelled and they will be charged interest on their purchase. 6. Which finance charge will apply to them? Since they defaulted on the payments they will have to pay the rate of
The maximum amount that could be spent should be the difference between the Lifetime Value of customers that sign up for non-autopay service ($1064.87) and the LTV for the ones
Previously, you received the standard reimbursement in June 2017. However, the reimbursement was based on a payment of $104.90 per month, despite the fact many of the members paid $121.80, or a difference of $16.90. In short, these members are still owed 12x$16.90 or $202.90 for a full
Per approval from Steve, the other part of the balance remaining $39,987.06 will be paid on 02/24/2017 by EP733-eMPath.
First, the contractual balance owed under the Merchant Agreement is $17,727.36. A&S Accessory Trading made 24 daily payments (at $136.36) totaling $3,272.64. According to the Merchant Agreement, the Purchase Amount is $21,000.00. As such, $21,000.00 - $3,272.64 = $17,727.36. I'm not sure where you arrived at a balance of $22,477.00.
How many of you have been a part of a loyalty program that requires you to join to get the product discount? Many of these programs do so with out the option of joining or not. Even if the products are super amazing, you may not need a full bottle every month and there may not be enough products to change your monthly orders to, thus, a cupboard of too many bottles of things that may expire before you even get the chance to use them.
Whenever she was paid late or missed a payment the financial institution had a late fee of $39.00. Between the high 24% APR and the late fee payment fees she acquired it took her 62 months to pay the music player in full in the amount of $714.86.
which would include paying back the $583 in bounced checks and $75 in fees. According to the
My experience with Jcpenny sales representative they advised me to open up another account for furniture purchases. They kept both accounts separate, and I never incurred interest charges on the furniture account during the terms. The payments made were not misapplied, and I paid the promotion off timely with no occurred interest.
To find out if The Music Boosters have enough money for 52 shirts we will multiply the original cost of each shirt which is $9.25. We get the total of $481 and add it to 56 our setup fee. The price of
The buyer qualifies for $35,000.00. there is currently $31,000.00 in the property which will be transferred. We will add $4,000.00 in additional funds.
“To state the facts frankly is not to despair the future nor indict the past. The prudent heir takes careful inventory of his legacies and gives a faithful accounting to those whom he owes an obligation of trust”, John F. Kennedy. In this quote, Kennedy expresses that the ultimate goal of finance is to gain trust from those who can help capitalize on the organization. Most importantly, it states that transparency and honesty are the best indications for building that trust. The need for trust is equally valid and critically important for healthcare organizations. As the healthcare industry grows, so does the policies and procedures for accurate and transparent accounting. Therefore, healthcare
Reporting and disclosure: Measurement and control are at the heart of initiating reasonable practices. Not only can associations gather and group the data, they can likewise be altogether straightforward with outsiders. The Global Reporting Initiative is one of numerous samples of very much perceived reporting models;
Determine if the company carries investments in marketable securities and other investment debt or equity investments (do not look in the liability section to answer this question). Into what classifications did it categorize these investments and what are the accounting ramifications of these classifications? (Consult the textbook to answer this part)
Which means you won't earn anything near the $23.75 that is promised. Your rewards are credited to your account in the form of points, 100 points for every $1 earned. To cash out you need 5000 points.
While the reporting of the major operating segments of a publicly-held company is required, it is not the case with private companies. However, disclosures in regards to products and services will most likely be present in private companies’ financial statements in order to attract potential investors. The purpose of disclosing products and services is to best serve investors who are inspecting a company searching for strengths and weaknesses on their products or services network. For example, United States Steel Corporation is company who mainly focuses on major steel production in several continents. Since the company main source of revenue is the production of steel, investors will be cautious when investing money on this company since a slowing down in the economy, particularly production of cars, buildings, and machines, can significantly impact the revenue and profitability of U.S steel. On the other hand, a company like Walmart attracts investors since the company does an excellent job of diversifying its products and services, ultimately creating a number of profitable revenue streams. Investors who prefer a safe and stable investment will most likely select Walmart over other more risky investments such as U.S steel Corp.