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Suppose that on Janu If y Calcule When What percentage The monthly payment is Do not round und the final a Then round redit card whose APR is 21%, which yo cents needed) Asume that additional charges to the cand ar

Suppose that on Janu If y Calcule When What percentage The monthly payment is Do not round und the final a Then round redit card whose APR is 21%, which yo cents needed) Asume that additional charges to the cand ar

Essentials Of Investments
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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Suppose that on January 1 you have a balance of $3700 on a credit card whose APR is 21%, which you want to pay off in 3 years, Assume that you make no additional charges to the cand after January 1 Calculate your monthly payments b. When the cand is paid off, how much will you have paid since January 17 What percentage of your total payment (part b) is it? The monthly payment (Do not round unt the final answer. Then round to the nearest contas needed)
Transcribed Image Text:Suppose that on January 1 you have a balance of $3700 on a credit card whose APR is 21%, which you want to pay off in 3 years, Assume that you make no additional charges to the cand after January 1 Calculate your monthly payments b. When the cand is paid off, how much will you have paid since January 17 What percentage of your total payment (part b) is it? The monthly payment (Do not round unt the final answer. Then round to the nearest contas needed)
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