One of your customers has just made a purchase in the amount of $26,400. You have agreed to payments of $550 per month and will charge a monthly interest rate of 1.38 percent. How many months will it take for the account to be paid off? Multiple Choiçce 48.00 months 85.32 months 79.23 months 73.95 months 37.08 months

One of your customers has just made a purchase in the amount of $26,400. You have agreed to payments of $550 per month and will charge a monthly interest rate of 1.38 percent. How many months will it take for the account to be paid off? Multiple Choiçce 48.00 months 85.32 months 79.23 months 73.95 months 37.08 months

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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You have a credit card that has a balance of $6400 at an APR of 13.49%. You plan to pay $300 each month in an effort to clear the debt quickly. How many months will it take you to pay off the balance?
10
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Q. 8
One of your customers has just made a purchase in the amount of $27,200. You have agreed to payments of $575 per month and will charge a monthly interest rate of 1.41 percent. How many months will it take for the account to be paid off? One of your customers has just made a purchase in the amount of $27,200. You have agreed to payments of $575 per month and will charge a monthly interest rate of 1.41 percent. How many months will it take for the account to be paid off? Multiple Choice: 36.50 months 84.57 months 78.53 months 73.30 months 47.30 months
Today, you signed loan papers agreeing to borrow $4,954.85 at 12% APR compounded monthly. The loan payment is $142.33 a month. How many loan payments must you make before the loan is paid in full? A. 29.89B. 30.02C. 38.88D. 40.00E. 43.00
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Suppose Jorge Otero has set up an annuity due with a certain credit union. At the beginning of each month, $130 is electronically debited from his checking account and placed into a savings account earning 6% interest compounded monthly. What is the value (in $) of Jorge's account after 17 months? (Round your answer to the nearest cent.)
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you take out an installment loan to purchase a time share costing $17,000. You make a down payment of $2,500 and finance the balance by making monthly payments of $718.66 for 24 months. Find the APR

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