The minimum monthly payment for Brian's credit card is 3.5% of his balance or $25, whichever is higher. If Brian's balance at the end of his last billing cycle was $722, what is his minimum monthly payment?

Q: You have a charge card. You receive a bill, dated June 5.  Your balance fluctuated during the 31-day…

A: Formula Used: Average = ∑FX∑F

Q: Find the gross income, the adjusted gross income, and the taxable income. Suppose your neighbor…

A: Given that, Wages=$319,150Interest earned=$1790Tax-deferred retirement plan=$4100Personal…

Q: Suppose you’d like to save enough money to pay cash for your next used car. The goal is to save an…

A: Given that, to save an extra $8000 over the next three years.To find the amount of monthly payments…

Q: esiree opens an account with one deposit of $6500. She receives a statement twice a year, just after…

A: Given problem is :   Desiree opens an account with one deposit of $6500. She receives a statement…

Q: Suppose that the total interest that will be paid on a 25-year mortgage from a home loan of $130,000…

A: The loan = $ 130,000Interest is = $ 380,000Total loan and the interest= ( 130,000 + 380,000)= $…

Q: Suppose that you borrow $17,000 for four years at 6 ​%  toward the purchase of a car. Use PMT equals…

A:

Q: An individual borrowed ​$78,000 at an APR of 3​%, which will be paid off with monthly payments of…

A:

Q: If you purchase a $600 item and pay for it with monthly installments for 2 years, the monthly…

A:

Q: Mr. Spendit's credit card shows that for the billing period of June 24th through July 28th he made a…

A: To find the average daily balance, we need to calculate the daily balance for each day in the…

Q: A man applied for a loan with 16% interest. The interest will be automatically deducted from the…

A: If the interest is simple, then the formula that is used is A=P1+rt, where A is the final amount, P…

Q: If a car priced  at $17,305 is offered for nothing down with 60 monthly payments of $397.63, what is…

A: Given Information -  Cost of the car = $17,305 Monthly payments to clear the debt = $397.63 Number…

Q: interest and agreed to pay it off over a 2 year period, how much would your monthly payment be?

A:

Q: What is the purchase price on a car that has a $318 monthly payment for 4 years, financed at 5% per…

A:

Q: An invoice for $938.35 has terms 3/10, 2/20, n/30. if a bank note is discounted at 9% to take…

A:

Q: Sonia received a statement on her Certificate of Deposit showing that her investment had returned…

A:

Q: Find the principal if $245 in interest is due after 10 months at 7%

A: By using formula of simple interest.

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

A: Given:  you borrow $10,000 for four years at 8% toward the purchase of a car To determine; The…

Q: Suppose you have a credit card bill of $1,275 for the month of October. If you pay the full balance…

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Q: The loan of $ 700 is expected to be paid in one year as a total of $ 749. What is the annual…

A: Solution

Q: Suppose that under your health insurance policy, hospital expenses are subject to a $750 deductible…

A: Suppose that under your health insurance policy, hospital expenses are subject to a $750 deductible…

Q: A sum of $20,000 is used to buy a deferred perpetuity-due that pays $2,100 every year for the first…

A: Solution

Q: Suppose that you borrow $15,000 for a new car. You can select one of the following loans, each…

A:

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

A: Given information Loan amount=$10,000 n=4 years For monthly payment, n=12×4=48 And r=8% ⇒r=8100=0.08…