A credit card calculates interest using the average daily balance method. The monthly interest rate is 2.0% of the average daily balance. The following transactions occurred between Nov 1 and Nov 30 billing period.
Previous balance = $1,350.
Nov 1 Billing Date
Nov 8 Payment of $350
Nov 10 Charge of $375
Nov 20 Charge of $120
Nov 25 Charge of $55
Nov 28 Charge of $67
Nov 30 End of Billing Period
a) find the average daily balance for the billing period
b) find the interest to be paid on Dec 1 (the next billing date)

What is an example of a good stock to buy during economic expansion? a) cyclical stock b) defensive stock c) income stock d) bond

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

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