The annual interest rate on a credit card is 17.99% if a payment of $400 00 is made each month, how many months will take to pay off an unpaid balance of $2,340.727 Assume that no new purchases are made with the credit card It will take months to pay off the unpaid balance (Do not round until the final answer. Then round up to the nearest integer as needed)

The annual interest rate on a credit card is 17.99% if a payment of $400 00 is made each month, how many months will take to pay off an unpaid balance of $2,340.727 Assume that no new purchases are made with the credit card It will take months to pay off the unpaid balance (Do not round until the final answer. Then round up to the nearest integer as needed)

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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Similar questions

Your credit card charges an APR of 29% on your balance. Interest is compounded on a daily basis, 365 days a year. If you made the minimum payment of $150 per month on your credit card balance, how long will it take you to pay off a $5,000 balance? Multiple Choice 5.82 years 2.98 years 9.56 years 35.73 years 6.61 years Show all the calculation steps and formulas if necessary
You have an inactive credit card with $1100 outstanding unpaid balance. The credit card charges at an annual rate of 16.5% compounded monthly. You are able to make a payment of $300 one month from today and $500 two months from today Find the amount that you will have to pay three months from today to completely pay off the credit card debt. A. 5.165.41 B.$413.53 C.S.264.66 D. $ 330.82 E.$ 180.04
You have a credit card with an APR of 24%. The card requires a minimum monthly payment of 8% of the balance. You have a balance of $8300. You stop charging and make only the minimum monthly payment. What s the balance on the card after forty-five months? (Round your answer to the nearest cent.) $2,251.28 X Submit Answer
You expect to have the given amount in an account with the given terms. Find how much you can withdraw periodically in order to make the account last the specified amount of time. Round your answer to the nearest cent. Account balance: $500,000 Interest rate: 2.1% Frequency monthly 21 years Time: Periodic Withdraw: $
Only type answer and give answer fast
Subject: accounting
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?
You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of 3.9 percent per year, compounded monthly for the first six months, increasing thereafter to 18.8 percent per year, compounded monthly. Assuming you transfer the $19,000 balance from your existing credit card and make no subsequent payments, how much interest will you owe at the end of the first year? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Interest owed
your credit card has a balance of $4,500 and an annual interest rate of 16%. you decide to pay off the balance over 3 years. if there are no further purchases charged to the card, a.- how much must you pay each month? b.-what is the total interest paid over 3 years?
You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of 1.8 percent per year, compounded monthly for the first six months, increasing thereafter to 17 percent compounded monthly. Assuming you transfer the $6,900 balance from your existing credit card and make no subsequent payments, how much interest will you owe at the end of the first year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
You have a credit card that has a balance of $8930 at an APR of 16.49%. You plan to pay $400 each month in an effort to clear the debt quickly. How many months will it take you to pay off the balance?
Assume you have a credit card that has a 24% APR and you have an average daily balance of $1,500.00. Assume there are 12 equal monthly billing cycles on the credit card. Respond to the following two (2) questions: (a) what is the approximate finance charge that you would owe for one month, assuming you did not repay any principal? (b) What is the approximate finance charge that you would owe for one year, assuming you did not repay any principal?

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