Lakeside Bakery bakes fresh pies every morning. The daily demand for its apple pies is a random variable with (discrete) distribution, based on past experience, given by Demand 9 15 24 29 34 39 Probability 4 % 20 % 27 % 27 % 16 % 6 % Each apple pie costs the bakery $11.00 to make and is sold for $27. Unsold apple pies at the end of the day are purchased by a nearby soup kitchen for 65 cents each. Assume no goodwill cost. a. If the company decided to bake 24 apple pies each day, what would be their expected profit? (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. Based on the demand distribution above, how many apple pies should the company bake each day to maximize its expected profit?
Answers
If the company decided to bake 24 apple pies each day, its expected profit would be $384.
Expected profit is maximum when x = 29.The company should bake 29 apple pies each day to maximize its expected profit.
a) If the company decided to bake 24 apple pies each day, what would be their expected profit?The daily demand for apple pies is a random variable with (discrete) distribution. As per the distribution, there is a 27% chance that the demand for apple pie would be 24.
It means that if the company baked 24 apple pies each day, there is a 27% probability that it would sell all pies made. If it made 24 apple pies, but demand was less than 24, then it would have unsold apple pies. If demand was greater than 24, it would have lost the opportunity to sell some apple pies.
Let's calculate the expected profit by baking 24 apple pies each day:Expected number of apple pies sold = 0.04 x 9 + 0.2 x 15 + 0.27 x 24 + 0.27 x 29 + 0.16 x 34 + 0.06 x 39 = 24Expected profit = $27 x 24 - $11 x 24 - ($34 - $11) x max(0, 24 - 24) - ($0.65) x max(0, 24 - 24)Expected profit = $648 - $264 - $0 - $0.00Expected profit = $384.
b)Let x be the number of apple pies the company bakes each day. If the company bakes x apple pies, the expected profit would be:
Expected profit = $27 x min(x, 9) - $11 x min(x, 9) + $27 x min(x - 9, 6) - $11 x min(x - 9, 6) + $27 x min(x - 15, 9) - $11 x min(x - 15, 9) + $27 x min(x - 24, 5) - $11 x min(x - 24, 5) + $27 x min(x - 29, 5) - $11 x min(x - 29, 5) + $27 x min(x - 34, 5) - $11 x min(x - 34, 5) + $0.65 x max(0, x - 24),where min(x, y) denotes the minimum of x and y, and max(x, y) denotes the maximum of x and y.
Let's solve this optimization problem by using calculus:Expected profit = $27 x min(x, 9) - $11 x min(x, 9) + $27 x min(x - 9, 6) - $11 x min(x - 9, 6) + $27 x min(x - 15, 9) - $11 x min(x - 15, 9) + $27 x min(x - 24, 5) - $11 x min(x - 24, 5) + $27 x min(x - 29, 5) - $11 x min(x - 29, 5) + $27 x min(x - 34, 5) - $11 x min(x - 34, 5) + $0.65 x max(0, x - 24).
Differentiating w.r.t. x:Expected profit = 27(1 - I(x ≤ 9)) - 11(1 - I(x ≤ 9)) + 27(1 - I(9 < x ≤ 15)) - 11(1 - I(9 < x ≤ 15)) + 27(1 - I(15 < x ≤ 24)) - 11(1 - I(15 < x ≤ 24)) + 27(1 - I(24 < x ≤ 29)) - 11(1 - I(24 < x ≤ 29)) + 27(1 - I(29 < x ≤ 34)) - 11(1 - I(29 < x ≤ 34)) + 0.65(I(x > 24)) where I(A) is an indicator function that takes the value 1 if A is true, and 0 otherwise.
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Related Questions
The shelf life of milk is 7 days. You have 22 gallons on hand. You normally sell 4 gallons each day. Do you expect to have to throw out any milk?
Answers
Explanation: You will throw away no gallons of milk because if you sell 4 gallons every day then 7 times 4 equals 28 so you will only work for 5 an a half days.
Answer:
B
Explanation:
John from sales has just sent you an e-mail. He needs a decision made on the Johnson account as soon as possible. You can make the decision, but you feel like you’d like to ask your boss for her advice. Unfortunately, she is in a business meeting, and the decision needs to be made very soon. You decide to take the initiative and ______.
a.
Interrupt your boss to make the decision
b.
Ask a coworker to make the decision
c.
Wait to make the decision
d.
Make the decision
Answers
Answer:
D. Make the decision
Explanation:
The decision needs to be made as soon as possible. Answers B and C both require extra time, which is not an option here. That leaves A and D as possibilities. Answer A makes the least sense of the 4 options (as it would be extremely unprofessional to interrupt a meeting), leaving D as the only reasonable choice.
Which of the following choices incur speculative risk?
a.stocks
b.fire insurance on a house
c.options
d.life insurance
e.high interest savings account
Answers
Answer: correct option is A.
Explanation: A speculative risk can be defined as risk that is taken willingly either it results in profit or loss and the stocks involve in probability of gain and loss making it a speculative risk.
Stocks incur speculative risk. Therefore option A is correct.
What are Stocks?A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.
Common stock and preferred stock are the two primary categories of stocks.
Owners of common stock are entitled to dividends and the right to vote at shareholder meetings.
Common stockholders often do not have voting rights, while preferred stockholders typically get dividend payments ahead of time and are given preference over common investors in the event of a firm bankruptcy and asset liquidation.
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How much does pressure change with altitude?
Answers
Since more than half of the molecules in the atmosphere are found below 5.5 km in altitude, the atmospheric pressure in this region drops by about 50% (to about 500 MB).
What is pressure?The force delivered perpendicularly to an object's surface per unit area across which that force is dispersed is known as pressure.
In comparison to the surrounding pressure, gauge pressure is the pressure.
Pressure is expressed using a variety of units.
The air pressure here decreases by around 50% because more than half of the molecules in the atmosphere may be found below 5.5 km in altitude (to about 500 MB).
Over 5.5 km, the pressure decreases, but it does so gradually and more slowly.
Some of these come from dividing a unit of force by a unit of area; the traditional unit of pressure in the imperial and U.S. customary systems is the pound-force per square inch (psi, symbol lbf/in2), whereas the SI unit of pressure, the pascal (Pa), is one newton per square meter (N/m2).
Therefore, since more than half of the molecules in the atmosphere are found below 5.5 km in altitude, the atmospheric pressure in this region drops by about 50% (to about 500 MB).
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Olde ple designs and manufactures shoes Olde ple can select only one of two protsenth of which wow Depending on the state of the economy, nach project has different throws Project Casual shoes Formal shoes Weak Economy 200,000 800,000 Strong Economy 1.600.000 1.400,000 The probability of a weak economy is 45% and a strong economy in 65%. The firm needs to raise 600.000 cott toner om next year Calculate the total firm wealth for both projects in both scenarios. If Olde ple's managers wish to maximize the total wealth of the who they invest in? Calculate the wealth available to shareholders for both projects in both scenarios. It Olde ple's managers wish to maximize shareholder en which proact should they invest in? mark it.
Answers
To calculate the total firm wealth and wealth available to shareholders for both projects in both scenarios, we can multiply the profits of each project by their respective probabilities.
Let's calculate the total firm wealth: For Project Formal shoes: Weak Economy: 800,000 * 0.45 = 360,000 Strong Economy: 1,400,000 * 0.65 = 910,000 Now, let's calculate the wealth available to shareholders: Assuming the cost of capital is 600,000: For Project Casual shoes: Weak Economy: 90,000 - 600,000 = -510,000 (Loss) Strong Economy: 1,040,000 - 600,000 = 440,000 To maximize total firm wealth, Olde Ple should invest in the project with the highest total firm wealth. In this case, it would be Project Formal shoes, which has a higher total firm wealth in both scenarios. To maximize shareholder wealth, Olde Ple should invest in the project that provides a positive wealth available to shareholders. In this case, it would be Project Formal shoes in the strong economy scenario, which has a wealth available to shareholders of 310,000.
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Question 2 of 10
Jeremy doesn't have a lot of money to spend on advertising, but he knows his
target audience are local outdoor enthusiasts. Which type of media format
should Jeremy use to advertise?
A. Local newspapers
B. Billboards on busy streets
C. National television commercials
D. Plane banners
Answers
Answer:
B. Billboards on busy streets
Explanation:
Billboard advertising involves making use of large-scale print advertisements to market a company's products and services. Billboards are strategically mounted in high traffic areas to pass their message to as many people as possible. Busy highways and streets, strategically located buildings are ideal places to put billboards.
Jeremy should consider using billboards for the following reasons.
His clients are local outdoor enthusiasts; he needs to find out their favorite destinations are put billboards along the way. This way, he will capture their attention.Billboards are less costly compared to other advertisement options, such as television or plane banners.Billboards will be effective in his case. Because his clients are local, and billboards remain in place for several days or weeks, his target clients will not fail to spot them.Answer:local news papers
Explanation:
the first selection device most job applicants encounter when they seek a job are ____.
Answers
When job applicants seek a job, the first selection device they often encounter is the application form . These forms are designed to collect relevant information about the applicant's qualifications, skills, experience, and personal details.
They serve as an initial screening tool for employers to gather essential information and assess candidates' suitability for the position.
Application forms typically include sections for personal information, employment history, education, references, and sometimes specific questions related to the job requirements.
Application forms allow employers to compare and evaluate applicants fairly and objectively based on the provided information. They serve as a standardized way to filter out unqualified candidates and shortlist those who meet the basic requirements.
This initial stage of the hiring process helps employers save time and resources by narrowing down the applicant pool before moving on to subsequent selection devices such as interviews, assessments, or reference checks.
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The manager of a hospital unit may contribute to a strategic planning project by:
A) serving on a planning committee or task force.
B) gathering and/or analyzing data for the project.
C) writing the organization’s mission statement.
D) suggesting criteria for performance measures.
Answers
The manager of a hospital unit may contribute to a strategic planning project by serving on a planning committee or task force, gathering and/or analyzing data for the project, and suggesting criteria for performance measures. Thus, the correct options are A, B, and D.
Strategic planning can be referred to as the art of creating specific business strategies, implementing them, and evaluating the results of executing the plan, in regard to a company’s overall long-term goals or desires. This concept concept focuses on integrating various departments (such as accounting and finance, marketing, and human resources) within a company to accomplish its strategic goals. The term strategic planning is synonymous with strategic management.
The manager of a hospital unit may be involved in tasks such as serving on a planning committee or task force, gathering and/or analyzing data for the project, and suggesting criteria for performance measures. However, writing the organization's mission statement may not necessarily be within the scope of the hospital unit manager's responsibilities. Thus, options A, B, and D are correct.
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a company purchased three identical inventory items for $800, $900, and $1,120 in that order. it then sold 1 of the units for $1,500. assuming the company uses the average-cost method for inventory the gross profit on the sale is $
Answers
Based on the fact that the company uses the average-cost method for inventory, the gross profit on the sale of the unit can be found to be $560
How to find the gross profit?The first thing to do is to find the average cost of the identical units of inventory that the company purchased:
= Cost of units purchased
= 800 + 900 + 1,120
= $2,820
Then find the average cost of each unit using the average-cost method:
= Total cost of units / Number of units
= 2,820 / 3
= $940 per unit
The gross profit can then be found by using the formula:
Gross profit = Sales revenue - Cost of goods sold
The cost of the good sold is the average cost of $940.
The gross profit will therefore be:
= Sales revenue - Cost of goods sold
= 1,500 - 940
= $560
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a lender requires a 1.20 debt coverage ratio as a minimum. if the net operating income of a property is $45,000, what annual amount of debt service would provide the required debt coverage ratio?
Answers
The annual amount of debt service required to provide the required debt coverage ratio would either be $37,500 (if there are no existing debt service payments) or $27,500 (if there are existing debt service payments).
To do this, we divide the net operating income (NOI) by the required debt coverage ratio of 1.20:
$45,000 / 1.20 = $37,500
This means that the property has an annual debt service capacity of $37,500.
Next, we subtract any existing debt service payments from this amount to find the additional debt service required to meet the lender's minimum debt coverage ratio.
If the property has no existing debt service payments, then the annual amount of debt service required would simply be $37,500.
However, if there are existing debt service payments, we would subtract them from $37,500 to find the additional debt service required.
For example, if the property has existing debt service payments of $10,000 per year, then the additional debt service required to meet the 1.20 debt coverage ratio would be:
$37,500 - $10,000 = $27,500
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Primetime Incorporated is a retailer of sporting gear. It sells 500 pairs of a specific Nike sneaker each day. Nike, the supplier, takes a week (7 days) to deliver the order. For what quantity should the inventory manager place his/her next order?
Answers
Answer:
3500 units
Explanation:
The quantity at which the Primetime inventory manager places his/her next order is the reorder point.
The reorder point is the minimum quantity of inventory that a business should have in its store.
The reorder point is calculated using the formula below.
(Average daily unit sales x delivery lead time) + safety stock
For Primetime, safety stock is not mentioned
reorder point =500 units x 7 days
=3500 units
The accounting equation can be stated as
A. Expenses = Liabilities - Owner's Equity
B. Assets - Liabilities = Owner's Equity
C. Liabilities = Revenue + Owner's Equity
D. Owner's Equity = Assets + Liabilities.
Answers
Answer:
a
Explanation:
a
NEED HELP ASAP. WILL GIVE BRAINLIEST
How do limited resources affect a nation's decision to engage in international trade?
Answers
Answer:
it affects growth and population
Explanation:
If the goal is to keep your employee retention rate high, what
are 3-5 critical success factors and one layer of necessary
conditions?
Answers
To keep employee retention rates high, critical success factors include offering competitive compensation and benefits, providing growth and development opportunities, fostering a positive work culture, promoting work-life balance, and ensuring effective communication and feedback channels. One necessary condition is creating a supportive and inclusive work environment that values diversity and promotes equal opportunities.
Competitive compensation and benefits play a crucial role in attracting and retaining talented employees. Providing growth and development opportunities, such as training programs and career advancement paths, helps employees feel valued and motivated to stay with the organization. Fostering a positive work culture, where employees feel respected, recognized, and engaged, contributes to higher retention rates.
Promoting work-life balance by offering flexible schedules and time-off policies helps employees maintain a healthy work-life integration. Effective communication and feedback channels, including regular performance evaluations and open dialogue, create a sense of transparency and trust.
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1. Calculate the Net Worth when Liabilities are $5,000 and Assets are $6,725
Answers
For the following situations, decide whether this is
an example of an informal or formal trade barrier.
A. Law requiring that stores be closed on Sunday
b. Beliefs about not eating certain foods
c. Special tax on the sale of books
d. Required nutritional information on food
packaging
e. Hiring family members when jobs are available
in an organization
Answers
A=formal trade
B= informal trade
C= formal trade
D= informal trade
E= informal trade
Trade is basically the activities of buying and selling of goods both locally and internationally.
Formal trade barrier refers to factors which affect trading activities negatively and are indeed legal. Such barriers include import duties, taxes etc Informal trade barrier refers to factors which affect trading activities negatively but not from government and they includes transport costs, cumbersome customs practices, regulations, corruption etcThe decision on whether the trade barrier are formal or informal are as follow:
The Law is an example of Formal trade barrier. Various belief like this is an example of Informal trade barrier.The special tax imposed on books is an example of Formal trade barrier.The required nutritional information is an example of Formal trade barrier. Hiring of family members is an example of Informal trade barrier.Lear more about Trade barrier here
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what is inflation? an increase in the overall price level an increase in the overall level of economic activity an increase in the amount of money in circulation a decrease in the overall price level which of the following scenarios provides the best evidence that inflation has occurred? a person whose salary has decreased can purchase fewer goods and services. a person whose salary has increased can purchase fewer goods and services. a person whose salary has remained the same can purchase more goods and services. a person whose salary has decreased can purchase more goods and services. a person whose salary has increased can purchase more goods and services.
Answers
Inflation is the general increase in the price level of goods and services over time, resulting in a decrease in the purchasing power of money. It is often measured by calculating the percentage change in the price index, which tracks the prices of a basket of goods and services.
The correct answer to the second question is "a person whose salary has remained the same can purchase fewer goods and services." This scenario provides evidence of inflation because, over time, the cost of goods and services has increased, while the purchasing power of the individual's salary has remained the same. This means that the individual can purchase fewer goods and services with the same amount of money.
The other options are incorrect because they do not demonstrate evidence of inflation. If a person's salary has decreased, it could be due to a variety of factors, such as changes in the labor market or the specific circumstances of the individual's job. Similarly, if a person's salary has increased, it may be due to factors unrelated to inflation, such as a promotion or improved job performance.
In summary, inflation is an increase in the general price level of goods and services, resulting in a decrease in the purchasing power of money. Evidence of inflation can be seen when a person's salary remains the same, but they can purchase fewer goods and services over time due to the increase in prices.
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What is one difference between common and preferred stock?
A. Common stockholders receive higher dividends than preferred
stockholders,
B. Holders of common stock are paid off sooner than holders of
preferred stock if the business goes bankrupt.
C. Common stock costs more than preferred stock
D. Common stock value can appreciate more than preferred stock.
Answers
Answer:
C. Common stock costs more than preferred stock
Explanation:
Which of the following is used to make the size estimation when developing the schedule? : O LOC information from the successfully completed similar past projects O LOC information from the existing project Number of transactional functions of the target application
Answers
The option used to make size estimation when developing the schedule is: "LOC information from the successfully completed similar past projects."
Size estimation plays a crucial role in developing an accurate schedule for a project. In this context, using the "LOC (Lines of Code) information from the successfully completed similar past projects" is a common approach. By leveraging historical data from similar projects that have been successfully completed, the organization can analyze the number of lines of code required and use it as a basis for estimating the size of the current project. This approach assumes that projects with similar characteristics and functionality will have comparable levels of effort and time required for completion. By considering the past project's LOC information, project managers can make informed decisions and create more realistic schedules for the development process.
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At any given hotel, one of the largest departments is housekeeping.
True
False
Answers
Answer:
True
Explanation:
2. An organization's products and services are the driving force in accomplishing
its purpose.
A. True
B. False
Answers
.. If two variables have a direct relationship on a graph, it indicates that
A. both variables are not related.
B. as one variable rises, the other variable falls.
C. both variables are moving in the same direction.
D. as one variable rises, the other variable is constant.
Answers
Answer:
Option C. Both variables are moving in the same direction.
Explanation:
The reason is that in the direct relationship, the variables move in the same direction which means if one of the variable increases then the other will also increase and vice versa. So the only option that satisfies this condition is option C.
___ systems report on various segments or business units of the company.
Managerial Accounting
Budget
Controlling
Creditors
Answers
Managerial Accounting systems provide information on numerous business divisions or sectors inside the firm. The right response in this case is option A.
Managerial accounting is a type of accounting that provides financial information to internal stakeholders, such as managers and employees, to help them make decisions and manage the operations of the company.
Managerial accounting systems provide information on various segments or business units of the company, such as sales, production, and marketing, to help managers understand the performance of different parts of the business. This information is often used to develop budgets, control costs, and improve efficiency.
Budgeting refers to the process of creating financial plans for future activities, it is an important aspect of managerial accounting.
Complete question:
___ systems report on various segments or business units of the company.
A - Managerial Accounting
B - Budget
C - Controlling
D - Creditors
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how is raytheon pursuing greater revenues and profits?
Answers
Raytheon is pursuing greater revenues and profits because Raytheon is expanding into new markets in the United Arab Emirates and Saudi Arabia.
It should be noted that the main aim of an organization is to maximize profit and revenue. These are vital for the growth and development of the organization.
From the complete information, Raytheon is pursuing greater revenues and profits as the company is expanding into new markets in the United Arab Emirates and Saudi Arabia. Raytheon has set up companies in both countries that will help in addressing the defense requirements and building capacity.
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Which describes a challenge we might see if remote working was the norm.
A. businesses would have to pay building costs or rent a workspace
B. there would be more cars on the road for people having to drive to work
C. workplaces could be more flexible with hours and job assignments
D. it would be harder to find jobs because the applicant pool would be larger
Answers
A challenge that might come about if remote working was the norm is D. it would be harder to find jobs because the applicant pool would be larger
What are challenges of remote work?A major challenge that remote work presents is that jobs would be harder to find thanks to there being a large applicant pool. This is because people can basically apply from anywhere in the world which means that with these many people applying, they's all have lower chances of getting employed.
Remote work does have some advantages however and they include businesses not having to rent workplaces and less cars on the road.
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A company following which of the following segmentation strategies will be most pressued to differentiate their offerings? A premium brand serving a highly competitive niche market An economy brand servicing the mass market where price is the primary driver of sales An economy brand service a niche market where price a the primary driver of sales A premium brand serving a niche market with limited choice
Answers
A premium brand serving a niche market with limited choice is a company following a segmentation strategy that will be most pressured to differentiate their offerings.Who is a premium brand serving a niche market with limited choice?A premium brand serving a niche market with limited choice refers to a company that is aimed at serving a specific audience of consumers.
They're a high-end brand that provides a product or service of high quality and uniqueness. They have a limited number of customers that are willing to pay a premium price for the products or services they provide.What is differentiation?Differentiation is the ability of a business to distinguish its products or services from those of its rivals. By offering something unique and distinct, a company can differentiate its offerings. This gives it an edge over its competitors, allowing it to gain a competitive advantage.
A business that can differentiate its products or services is more likely to attract customers and increase sales. This is why it is crucial for companies following a segmentation strategy to differentiate their offerings.To summarize, a company following a segmentation strategy of a premium brand serving a niche market with limited choice will be most pressured to differentiate their offerings. This is because they have a small customer base that expects a unique and distinct product, which means that they have to differentiate their offerings to stay competitive and maintain their customer base.
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Look for _____ in research information showing preferential treatment or consideration regardless of legitimate reasoning.
credibility
relevance
bias
additional sources
Answers
Answer:
bias
Explanation:
bias is the true anwer
During January, Ajax Co. Incurs 1,850 hours of direct labor at an hourly cost of $11.80 in producing 1,000 units of its finished product. Ajax standard labor cost per unit of output is $22 (2 hours x $11.00). Compute the total, price, and quantity labor variances for Ajax Co. For January. Identify whether the variance is favorable or unfavorable?
Answers
Answer:
Std rate per hour: 11.00
Std hours = 1000*2 =2000
Actual hours = 1850
Actual rate = 11.80
Labor cost variance = Std cost - Actual cost
Labor cost variance = (2000*11) - (1850*11.80)
Labor cost variance = 170 Unfavorable
Labor rate variance = Actual hrs (Std rate - Actual rate)
Labor rate variance = 1850 *(11-11.80)
Labor rate variance = 1480 Unfavorable
Labor qty variance = Std rate (Std hrs-Actual hrs)
Labor qty variance = 11 (2000-1850)
Labor qty variance = 1650 Favorable.
In which tab can you find features like New Slide, Slide Layout, and Reset Slide?
Answers
Answer:
in a techniol up coming
How does decreasing your credit card balance affect your income statement? (1 point)
It increases your monthly expenses, increasing the amount you spend each month.
It increases your monthly expenses, giving you more money to spend on other things.
It decreases your monthly expenses, increasing the amount you spend each month.
It decreases your monthly expenses, giving you more money to spend on other things.
Answers
The way in which decreasing your credit card balance would affect your income statement is that: D. It decreases your monthly expenses, giving you more money to spend on other things.
What is a credit card?A credit card simply refers to a small, rectangular flat card that is issued by a financial institution to its eligible customers, in order to avail them an opportunity to purchase goods and services on credit, especially based on the agreement that this amount of money would be paid back at a specific time and interest rate.
Generally speaking, a credit card balance can be defined as the total amount of money that an individual owe his or her credit card company. This ultimately implies that, a decrease in credit card balance would cause a decrease in monthly expenses, which avails the credit card holder more money to spend on other things.
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Answer: 1. a loan from one entity electronically matched to another entity without a financial institution in the middle
2. a payday loan
3. an unsecured installment loan
4. It decreases your monthly expenses, giving you more money to spend on other things.
5. Determine or estimate the current value of everything you own.
6. Their ability to repay a loan
7. your prior record of paying your bills and paying off your debts
8. your age and gender
9. You can request one online or over the phone.
10. He should contact the credit bureau that issued the credit report, the companies that issued the seven fraudulent cards, his local police, and the federal government at identitytheft.gov.
11. -the lender that provided the incorrect information
-the credit bureau that prepared the report
12. right away
13. She won a $20 billion settlement for California homeowners whose homes were inappropriately foreclosed on.
14. The longer the term, the more you will pay in interest.
15. It will cost you less money overall.
16. A store credit card generally comes with a higher interest rate.
17. You will save money if you pay the balance off quickly.
18. -Clarifying the confusing language found on credit card applications.
-Forcing lending companies to disclose interest rates and hidden fees.
19. It banned credit card companies from raising interest rates after missed payments.
20. -a fixed annual charge for the use of a credit card
-a charge if the minimum payment is not paid by the due date
21. paying off the balance before interest can accrue
22. $30
23. Determine which card has the higher interest rate and pay the extra money to that card first.
Explanation: All these answers are correct!