You have just entered an MPP program and have decided to pay for your living expenses using a credit card that has no minimum monthly payment so you will not be making any payment while you pursue your education. You intend to charge $1500 per month on the card for the next 21 months. The card carries a monthly interest rate of 1%. How much money will you owe on the card 22 months from now, when you receive your first statement post-graduation

$35,207.37

Explanation:

Future value = Monthly payment * [ [(1 + r)^n – 1 ] / r ] * (1 + r)

Future value = $1500 * [ [(1 +0.01)^21 - 1] / 0.01 ] * 1 + 0.01

Future value = $1500 * [[1.01^21 - 1] / 0.01] * 1.01

Future value = $1500 * [[1.23239194035 - 1] / 0.01] * 1.01

Future value = $1500 * [0.23239194035/0.01] * 1.01

Future value = $1500 * 23.23919 * 1.01

Future value = $35207.37285

Future value = $35,207.37

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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