The first credit card Elisabeth receives charges 13.81% interest compounded monthly to its customers. Within one day of receiving it, Elisabeth maxes it out. If she does not buy anything else on the card since then and owes the debt collector $2425.23 after 4 months, how much did she spend on that first day? Round to the nearest cent

Q: eposits $8600 in a bank account that pays a simple interest rate of 6.5% per annum. find how long it…

A: Given that  Principal amount (P) = $8600 Interest rate (R) = 6.5% per annum = 0.065   We know that…

Q: If $10,500 is borrowed for 5 years at an annual simple interest rate of 1.73%, how much interest…

A:

Q: Tristan and Bella borrowed $1,700 to buy a dog at 7.5% interest on March 10. They plan to repay the…

A: To calculate the repayment amount for a loan with 7.5% interest over a specific period, you can use…

Q: The stock of a fast-food restaurant chain pays a dividend of $0.67. If the share price for this…

A: The objective of this question is to calculate the dividend yield of a stock. The dividend yield is…

Q: Megan has $50,000 in her college fund that earns 6.4% compounded quarterly. She would like to make…

A: Given: Megan has $50,000 in her college fund that earns 6.4% compounded quarterly. She would like to…

Q: Dylan takes out a bank loan of $11,500 at 3.8% interest compounded annually. How much interest, in…

A: Given data is : Loan P=$11500 Interest rate r=3.8%, compounded annually. Time t=3 years To find the…

Q: Sheridan Service has a line of credit loan with the bank. The initial loan balance was $6000.00.…

A: Given Inputs Initial Loan Balance = $6,000 Payment made after 4 months = $2,000 Payment made after 9…

Q: Melanie places $5,000 into an account that earns 6% interest compounded daily. Approximately six…

A:

Q: How much should Winona deposit in his savings account so that he will be able to withdraw ₱580,450…

A: We will find out the required value.

Q: Hui purchased a 91-day T-Bill that has a face value of $1000 and an interest rate of 4.00% p.a. a.…

A: Given, Interest Rate R=4.00%=0.04 Face Value = $1000 91 days T-bill

Q: If sue borrowed $6300 from the bank , she has already paid 2/7 of the loan, whats the remaining…

A:

Q: Jaml's Home Repair borrows $4,000, at 16.75% interest, for 330 days. Use the exact interest method…

A: Exact simple interest is a simple interest that uses exact number of days in a year which is 365…

Q: Darnell deposts $4000 in a bank account which pays 13.39% interest compounded monthly.  How many…

A:

Q: Johnson placed $15,000 into his credit union account paying 7% compounded semiannullay. How much…

A:

Q: Jenn borrowed $900 from her sister at a simple interest rate of 1.5%. If Jenn will pay back her loan…

A:

Q: John made periodic deposits of $300 to Floor Bank, which pays 8% interest compounded semiannually.…

A: Given: The value of Periodic Deposit is $300 The value of Annual Interest Rate is 8.00% compounded…

Q: Ernie Rolph borrowed $5100 at 6% annual simple interest. If exactly 1 year later he was able to…

A:

Q: To help pay for college expenses, Julie Davis borrowed $10,000 at 7% interest compounded…

A: Given data, Principal P=$10,000 Rate r=7%=0.07 Time t=8 years Compounded semi-annually n=6

Q: drienne is going to deposit $8500.00 in an account that earns 2.5% inter or 360 months. How much…

A:

Q: Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of…

A: ANSWER :