Assume you have a balance of $3,600 on your creditcard that you want to payoff. Calculate...
Assume you have a balance of $3,600 on your creditcard that you want to payoff. Calculate your monthly payment and total payment under the given conditions. Assume you make no additional charges to the card.
11) The credit card APR is 19% and you want to pay off the balance in 2 years.
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Assume you have a balance of $3,600 on your creditcard that you
want to payoff. Calculate...
4.D.29 Suppose that on January 1 you have a balance of $6000 on a credit card...
4.D.29 Suppose that on January 1 you have a balance of $6000 on a credit card whose APR is 17%, which you want to pay off in 1 year. Assume that you make no additional charges to the card ather January 1 a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part(b) is interest? a. The monthly payment is $...
9. Credit Cards: a. If you have a balance of $1,245.00 on your credit card, how...
9. Credit Cards: a. If you have a balance of $1,245.00 on your credit card, how long will it take you to pay off the balance if you make $50.00/month payments until it is paid off? The APR is 19%. b. What will be your monthly payment on a credit card with a balance of $2,456.80, if you desire to pay it off in 2 years, at an APR of 23.99%? 10. A furniture company allows customers to purchase household...
Suppose that on January 1 you have a balance of $4700 on a credit card whose APR is 16%, which you want to pay off in 1...
Suppose that on January 1 you have a balance of $4700 on a credit card whose APR is 16%, which you want to pay off in 1 year. Assume that you make no addition al charges to the card after January 1 a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part (b) is interest? a. The monthly payment is...
Suppose that on January 1 you have a balance of $6200 on a credit card whose...
Suppose that on January 1 you have a balance of $6200 on a credit card whose APR is 14%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1. a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part(b) is interest? a. The monthly payment is $ (Do...
Suppose hat on January 1 you have a balance of $5900 on a credit card whose APRIs 15%, which you want o pay ofin 1 year. Assume that you make no additional charges the card after January 1 a. Calcula...
Suppose hat on January 1 you have a balance of $5900 on a credit card whose APRIs 15%, which you want o pay ofin 1 year. Assume that you make no additional charges the card after January 1 a. Calculate your monthly payments b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part (b) is interest? a. The monthly payment is s Do not round...
Assume that you have a balance of $3200 on your Discover credit card and that you...
Assume that you have a balance of $3200 on your Discover credit card and that you make no more charges. Assume that Discover charges 21% APR and that each month you make only the minimum payment of 2% of the balance.
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?
Suppose that on January 1 you have a balance of $3700 on a credit card whose...
Suppose that on January 1 you have a balance of $3700 on a credit card whose APR is 15%, which you want to pay off in 1 year. Monthly payment? Total paid? The percentage of the total paid that is interest is?
please answer 3-6 Scenario: You decide to buy a used 2014 Kawasaki Ninja 300 motorcycle for...
please answer 3-6
Scenario: You decide to buy a used 2014 Kawasaki Ninja 300 motorcycle for $4300. You make the purchase with a credit card. Your credit card has an APR of 21.3%. You owe nothing else on this card. Questions: 1. What is the monthly interest rate? 2. How long will it take you to pay off the debt if you make payments of $100 a month? 3. How much interest will you have paid by the time you...
Suppose your credit card balance is $15,500. The minimum payment is $322, and the annual percentage...
Suppose your credit card balance is $15,500. The minimum payment is $322, and the annual percentage rate is 19.1%. a. If you make a constant monthly payment of $322, how long will it take you to pay off the credit card balance? b. How much interest will you pay if you elect to make the minimum payment? a. If you make a constant monthly payment of $322, how long will it take you to pay off the credit card balance?...
4.D.29 Suppose that on January 1 you have a balance of $6000 on a credit card whose APR is 17%, which you want to pay off in 1 year. Assume that you make no additional charges to the card ather January 1 a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part(b) is interest? a. The monthly payment is $...
Suppose that on January 1 you have a balance of $4700 on a credit card whose APR is 16%, which you want to pay off in 1 year. Assume that you make no addition al charges to the card after January 1 a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part (b) is interest? a. The monthly payment is...
Suppose that on January 1 you have a balance of $6200 on a credit card whose APR is 14%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1. a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part(b) is interest? a. The monthly payment is $ (Do...
Suppose hat on January 1 you have a balance of $5900 on a credit card whose APRIs 15%, which you want o pay ofin 1 year. Assume that you make no additional charges the card after January 1 a. Calculate your monthly payments b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part (b) is interest? a. The monthly payment is s Do not round...
please answer 3-6
Scenario: You decide to buy a used 2014 Kawasaki Ninja 300 motorcycle for $4300. You make the purchase with a credit card. Your credit card has an APR of 21.3%. You owe nothing else on this card. Questions: 1. What is the monthly interest rate? 2. How long will it take you to pay off the debt if you make payments of $100 a month? 3. How much interest will you have paid by the time you...
Suppose your credit card balance is $15,500. The minimum payment is $322, and the annual percentage rate is 19.1%. a. If you make a constant monthly payment of $322, how long will it take you to pay off the credit card balance? b. How much interest will you pay if you elect to make the minimum payment? a. If you make a constant monthly payment of $322, how long will it take you to pay off the credit card balance?...
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