Describe two disadvantages of using credit cards. Choose the correct answer below. A. Two disadvantages of using credit cards are the high interest rates on unpaid balances and the fact that there is no interest charged when paying the balance due at the end of each billing period. B. Two disadvantages of using credit cards are the high interest rates on unpaid balances and the fact that there is no cap on interest rates. D. Two disadvantages of using credit cards are the high interest rates on unpaid balances and the ability to use a product before actually paying for it. D. Twang of using credit cards are the fact that responsible use of a credit card is an effective way to build a good credit score and the fact that there is no cap on interest rates.

E6-23A. (Learning Objective 2: Compare gross profit-FIFO versus LIFO-falling prices) Suppose a Walmart store in Fillmore, Missouri, ended January 2024 with 900,000 units of merchandise that cost \( \$ 5 \) each. Suppose the store then sold 50,000 units for \( \$ 510,000 \) during February. Further, assume the store made two large purchases during February as follows: Feb \( 10 \quad \begin{array}{rr}10,000 \text { units @ } \$ 3.10=\$ 31,000 \\ 21 & 25,000 \text { units @ } \$ 2.20=\$ 55,000\end{array} \) Requirements 1. Calculaté the store's gross profit under both FIFO and LIFO at February 28. 2. What caused the FIFO and LIFO gross profit figures to differ?

If you want to earn \( 4 \% \) annual simple interest on an investment, how much should you pay for a note that will be worth \( \$ 18,500 \) in 10 months? (Round your answer to two decimal places.) \( \$ \) Read It

We deposit \( \$ 17000 \) into an account earning \( 4 \% \) interest compounded semiannually. How many years will it take for the account to grow to \( \$ 42500 \) ? Round to 2 decimal places. \( \square \) years

What amount, \( A \), will our account have after 5 years if it earns an annual rate of \( 5 \% \) compounded quarterly if we started with \( \$ 650 \). Round to the nearest cent. \( A=\$ \)

2. Which statements are wrong? A. Percentage taxes are basically on sales of services. B. Percentage taxes are not allowed by law to be shifted to the customers or clients. C. An isolated transaction not in the course of business will not result in a liability for a percentage tax. D. None of the above.