Assume you owe a large balance on your credit card and only pay the monthly minimum payment equal to 1% of the balance
If the annual interest rate on the credit card is 18%, how many years will it take you to pay off the balance assuming you do not make any additional charges to the card?
A) 7.8 years
B) 5 years
C) you will never pay off the balance
D) not enough information is provided to determine the time
Answer: C
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The formula used to calculate the operating income is ________
A) operating income = sales revenues + cost of goods B) operating income = sales revenues - cost of goods - SGA expenses - other operating expenses C) operating income = cost of goods + SGA expenses + other operating expenses D) operating income = sales revenues - SGA expanses E) operating income = sales revenues + cost of goods + SGA expenses + other operating expenses
As a foreign exchange trade at Deutsche Bank, one of your customers would like a yen quote on Australian dollars. The current spot market rates are ¥101.37-85/U.S.$ and A$1.2924-44/U.S.$
What bid and ask yen cross rates would you quote on spot Australian dollars? What will be an ideal response?