ASAP 5.1.7 Practice - Managing a Bank Account

1. This bank statement is most likely for what kind of account? Provide at least two pieces of evidence from the statement that explain why.

2. How much more can the owner of this account spend ? How do you know ?

3. The owner of this account needs to make a $5,000 medical payment and doesn't have enough in his or her other accounts . Describe at least one option available to the owner.

4. What will be at least two consequences of letting the date , August 5, pass without making any payments ?

credit card; credit line and payment due date are shownabout $2243; credit available less the pending transactionuse more than one account; ask for a credit line increasea finance charge is added; credit rating will be negatively impacted

Explanation:

1.

Deposit accounts do not have a "Payment Due Date", so this indicates a loan account of some sort. The listing of transactions with different descriptions suggests the account is used to pay a variety of creditors. The lines "credit line" and "credit available" further suggest this is a credit-card or line-of-credit type of account.

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2.

The "total credit available' is a good starting indication of the additional amount the account owner can spend. There are some caveats. One is that there is a pending transaction, which will reduce the available limit when it is paid. Another is that using the maximum available credit will negatively impact the owner's credit score.

That score is maximized if the percentage of available credit used is below some amount (about 10%). A 30% utilization rate is a suggested maximum for maintaining a good credit score.

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3.

Several options may be open:

the medical biller may allow payment over timethis account owner may have enough for the payment in all accounts together. (They payment may be split among different available accounts.)this account owner can ask the credit line be raised

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4.

Failure to make a payment will cause ...

a finance charge to be added to the account(possibly) a late-payment charge to be added to the accounta "failure to pay as agreed" notice to credit reporting agenciesavailable credit to be reduced (possibly to zero)

The details of the consequences of a missed payment are in the account terms and conditions provided by the bank.

answer: military leaders, supporters of the confederacy and supporters of the union.

explanation:

on november 19, 1863, the speech delivered by president abraham lincoln, known as 'gettysburg address', was intended for politicians, military officials, notable citizens as well as general public, and members of the press who had gathered for the ceremony held in gettysburg, pennsylvania. this ceremony was being celebrated since, in that same year, the battle of gettysburg took place in rural pennsylvania, leaving thousands of men, both union and confederate, killed. lincoln argued about equality within the nation, and the purpose of the war being a "new birth of freedom."on the other hand, there is no relation between lincoln's gettysburg address and his son.

Is this supposed be to be a question?