Suppose you decide to take the tour now and use a 15% credit card for the purchase. Use the calculators at bankrate.com to answer the following questions. How many months will it take to pay off the $6,000 for the tour if you make a fixed payment of 4% of the original balance? It will take How much will you pay in interest if you make a fixed payment? a. months. b. 24 will be paid in interest on the loan. How many months will it take to pay off the $6,000 tour if you make the minimum payment, assuming the minimum is 4% of the outstanding balance? It will take d. с. months. How much will you pay in interest if you make only the minimum payment? will be paid in interest.
Suppose you decide to take the tour now and use a 15% credit card for the purchase. Use the calculators at bankrate.com to answer the following questions. How many months will it take to pay off the $6,000 for the tour if you make a fixed payment of 4% of the original balance? It will take How much will you pay in interest if you make a fixed payment? a. months. b. 24 will be paid in interest on the loan. How many months will it take to pay off the $6,000 tour if you make the minimum payment, assuming the minimum is 4% of the outstanding balance? It will take d. с. months. How much will you pay in interest if you make only the minimum payment? will be paid in interest.
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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Uregentaly sir
Transcribed Image Text:3.
Suppose you decide to take the tour now and use a 15% credit card for the purchase. Use
the calculators at bankrate.com to answer the following questions.
How many months will it take to pay off the $6.000 for the tour if you make a
fixed payment of 4% of the original balance?
a.
It will take
b.
months.
How much will you pay in interest if you make a fixed payment?
will be paid in interest on the loan.
How many months will it take to pay off the S6,000 tour if you make the minimum
payment, assuming the minimum is 4% of the outstanding balance?
It will take
How much will you pay in interest if you make only the minimum payment?
$
с.
months.
d.
will be paid in interest.
14
%24
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