Explain why getting a cash advance on your credit card is a costly source of funds.
Question:
Explain why getting a cash advance on your credit card is a costly source of funds.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
Using your credit card to obtain a cash advance is costly due to the high transacti...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
You owe $5,000 on your credit card and you can pay the following monthly payments: Month 1 2 3 4 5 6 7 8 Payment 500 550 600 650 700 750 800 850 IF the credit card company charges an interest rate of...
-
You charged $1,000 on your credit card for Christmas presents. Your credit card company charges you 26% annual interest, compounded monthly. If you make the minimum payments of $25 per month, how...
-
Suppose you owe $900 on your credit card and you decide to make no new purchases and to make the minimum monthly payment on the account. Assuming that the interest rate on your card is 2% per month...
-
One current practice is to calculate the years remaining for a depletable resource by taking the prevailing estimates of current reserves and dividing it by current annual consumption. How useful is...
-
Listed here are certain accounts of Jenkins Company at the end of 2016: Account Debit (Credit) Land....................... $12,000 Prepaid Insurance.................. 1,530 Cash on...
-
Does bankruptcy require liquidation of a company's assets?
-
Would a job costing system or a process costing system be used for this production process? Give specific reasons for your choice of which costing system would be most appropriate for this...
-
The following financial statements apply to James Appliances, Inc. Required Calculate the following ratios for 2015 by rounding to two decimal points. a. Working capital b. Current ratio c. Quick...
-
Required: Prepare a process costing work sheet. Organic Fertilizer Inc manufactures fertilizer using a three stage composting system which improves the nutrient content in the soils and provide...
-
The following regression results were based on monthly data over the period January 1978 to December 1987: Y t = 0.00681 ................... + 0.75815X t se = (0.02596) .................. (0.27009) t...
-
Why should you review your credit card statement before paying the bill? What steps should you take if you discover an error?
-
Explain how the Credit CARD Act changed the way credit card issuers assess late fees.
-
Show that the following sets have the same cardinality as \(\mathbb{N}:\{m \in \mathbb{N}: m\) is odd \(\}, \mathbb{N} \times \mathbb{Z}\), \(\mathbb{Q}^{m}(m \in \mathbb{N}), \bigcup_{m \in...
-
Identify five primary tasks for the planning and analysis phase of an SDLC. Provide a brief description for each task. Estimate the time to complete each task. Identify one milestone.
-
List and describe the conflict resolution styles. Describe the conflict resolution of your class team. Give an example of a team conflict where it was used. What roadblocks could you team face in...
-
The local government is worried that profits in the industry may lead to high levels of production of alcoholic beverages if the government issues additional licenses, but it also does not want...
-
How was it that during the "Prosperity Decade" in Texas: 1) agriculture expanded to record levels while most farmers struggled economically and 2) the state's manufacturing sector grew rapidly but...
-
Identify one (1) organization known to successfully apply the Leadership organizational behavior concept to their organizational structure. *At least one of these organizations should come from...
-
Given the finite measures n, n = 1, 2,...., on the measurable space ((, A), define a probability measure such that n < < for all n (i.e., (A) = 0 for A ( A implies n (A) = 0, n ( 1).
-
An auto-parts manufacturer is considering establishing an engineering computing center. This center will be equipped with three engineering workstations each of which would cost $25,000 and have a...
-
What should you consider when comparing credit cards?
-
List five tips for using credit cards wisely.
-
Why is paying your credit card balance in full so important? What should you do if you cant avoid credit card debt? Explain.
-
A project requires $12,500 initial investment. Cash flows are estimated as $2,500 for the first two years and $3,100 a year for the next three years. The discount rate is 11.25%. NPV for this project...
-
Write a SQL statement to show the list of distinct cities the salesmen come from.(3 marks) Write a SQL statement to showthe customer name, city and grade where the grade of a customer is greater than...
-
4. Suppose that you want to save up $2,000 for a semester aboard two years from now. How much do you have to put away each month in a savings account that earn 2% interest compounded monthly?
Study smarter with the SolutionInn App