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21. Stacey has a $8,000 balance on her credit card that has an interest rate of...
Like many college students, Yasmin applied for and got a credit card that has an annual percentage rate (APR) of 15%
Like many college students, Yasmin applied for and got a credit card that has an annual percentage rate (APR) of 15%. The first thing she did was buy a new DVD player for $350. At the end of the month, her credit card statement said she only needed to make a minimum monthly payment of $10. Assume Yasmin makes her payment when she sees her statement at the end of each month. If Yasmin doesn't charge anything else and only...
22.) A credit card has a stated interest rate of 13.3 percent. What is the APR...
22.) A credit card has a stated interest rate of 13.3 percent. What is the APR if interest is compounded monthly? Charming Charlies charges a daily rate of 0.03 percent (.03% or .0003) on its store credit cards. What interest rate is the company required by law to report to potential customers? Charming Charlies charges a daily rate of 0.03 percent (.03% or .0003) on its store credit cards. What is the effective annual rate it charges its customers? Curtis...
phoebe realizes that she has charged too much on her credit card and has racked up...
phoebe realizes that she has charged too much on her credit card and has racked up $6000 in debt. if she can pay $200 each month and the card charges 18 percent apr (compounded monthly) , how long will it take her to pay off the debt?
Assume you have a credit card that has an interest rate of 24% APR, compounded monthly....
Assume you have a credit card that has an interest rate of 24% APR, compounded monthly. Assume you have a credit balance of $5,000. What would your monthly payment need to be to pay off the balance in 3 years?
Patti took a cash transaction of $1500 her new credit card charges an annual percentage rate...
Patti took a cash transaction of $1500 her new credit card
charges an annual percentage rate of 21% transaction fee for Cash
advance is 3% of the cash advance with a maximum fee of $35 this
fee is added to the total cash advance in accrues interest if Patty
makes monthly payments of $65 how long will it take Patty to pay
for the cash advance
how much does it really cost? (continu Marie just used her new credit card...
5. A college student borrows $1500 during her senior year. The loan is to be paid pack in equal monthly payments startin...
5. A college student borrows $1500 during her senior year. The loan is to be paid pack in equal monthly payments starting three years after the loan is established (interest accumulates during the grace period). The APR is 2.8% compounded monthly. How much should she expect to pay per month if she only wants to have to make payments for 2 years? 6. Mary has a credit card balance of $4,300 at an APR of 12% compounded monthly. Mary has...
The problem: Monica's current debt consists of three types of loans: a bank card, an auto loan and a department store card. She owes a total of $25,000 and her monthly payments sum to $5...
The problem: Monica's current debt consists of three types of loans: a bank card, an auto loan and a department store card. She owes a total of $25,000 and her monthly payments sum to $549.61.The amount she owes, the monthly payment and the interest rates appear in the table below: Loan Type Annual Percentage rate, APR Loan Amount Monthly Payment Current Debt) S12,000 $11,500 S 1,500 $25,000 Bank Card Auto Loan 18% 5.5% $243.85 $257.88 Department Store Card | 15%...
Michael has a credit card debt of $60,000 that has a 10% APR, compounded monthly. The minimum monthly payment only requires him to pay the interest on his debt. He receives an offer for a credit card...
Michael has a credit card debt of $60,000 that has a 10% APR, compounded monthly. The minimum monthly payment only requires him to pay the interest on his debt. He receives an offer for a credit card with an APR of 9% compounded monthly. If he rolls over his debt onto this card and makes the same monthly payment as before, how long will it take him to pay off his credit card debt?
Ellen has maxed out her credit card at $13,500 and vows not to make any other...
Ellen has maxed out her credit card at $13,500 and vows not to make any other credit card purchases. Her credit card company charges 1.21 % interest per month, and the minimum monthly payment is all interest due plus 4 % of the principal balance. How much of the balance can Ellen pay down if she pays the minimum payment only for 4 month
You have $4,500 on a credit card that charges a 21% interest rate. If you want...
You have $4,500 on a credit card that charges a 21% interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't charge anything new to the card)? S each month Submit Question
Patti took a cash transaction of $1500 her new credit card
charges an annual percentage rate of 21% transaction fee for Cash
advance is 3% of the cash advance with a maximum fee of $35 this
fee is added to the total cash advance in accrues interest if Patty
makes monthly payments of $65 how long will it take Patty to pay
for the cash advance
how much does it really cost? (continu Marie just used her new credit card...
The problem: Monica's current debt consists of three types of loans: a bank card, an auto loan and a department store card. She owes a total of $25,000 and her monthly payments sum to $549.61.The amount she owes, the monthly payment and the interest rates appear in the table below: Loan Type Annual Percentage rate, APR Loan Amount Monthly Payment Current Debt) S12,000 $11,500 S 1,500 $25,000 Bank Card Auto Loan 18% 5.5% $243.85 $257.88 Department Store Card | 15%...
You have $4,500 on a credit card that charges a 21% interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't charge anything new to the card)? S each month Submit Question
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