This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Page Litton likes to use her credit card to buy gas since she can defer payment for 30 days. ... (Read 95 times)

fagboi

  • Hero Member
  • *****
  • Posts: 535
on: Jul 11, 2018
Page Litton likes to use her credit card to buy gas since she can defer payment for 30 days. However, she notices that her dealer charges 3 cents more per gallon than if she paid with cash. Page estimates paying about 1.
 
  00 a gallon for gas, and her monthly credit statement shows an APR of 18 . Given this information, Page should
  A)
 
  continue using her card since the opportunity cost of paying in cash is less than 18 a year.
  B)
 
  pay with cash since its opportunity cost is about 36 a year.
  C)
 
  continue using her card, the effective cost of using cash is about 36 a year.
  D)
 
  you can't tell unless you know how much gas she will buy.

Question 2

In the context of a surety agreement, the party who agrees to perform certain acts or fulfill certain obligations is called the
 
  A) fidelity.
  B) obligee.
  C) surety.
  D) principal.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bblaney

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jul 11, 2018
Answer to Question 1

B

Answer to Question 2

Answer: D


fagboi

  • Member
  • Posts: 535
Reply 2 on: Jul 11, 2018
Excellent

cdmart10

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

(a) Mean duration (days) and (b) average maximum depth (mm) of snow cover throughout northern latitu (a) Mean duration (days) and (b) average maximum depth (mm) of snow cover throughout northern latitu
When the United States gets stuck over a controversial issue—usually something a divided Congress ca When the United States gets stuck over a controversial issue—usually something a divided Congress ca
Triumphal Entry, page from a manuscript of Firdawsi's Shahnamah, Persian, Safavid culture. Triumphal Entry, page from a manuscript of Firdawsi's Shahnamah, Persian, Safavid culture.
The reminder card should be completed and handed to the patient after the appointment is scheduled. The reminder card should be completed and handed to the patient after the appointment is scheduled.
Annual Mean Number of Days with Thunder Annual Mean Number of Days with Thunder
Mishu wants to invest an inheritance of $20,000 for one year. His credit union offers 8.85% for ... Mishu wants to invest an inheritance of $20,000 for one year. His credit union offers 8.85% for ...
Video: Mechanics of Sound Animation

For a complete list of videos, visit our video library