You have a credit card that has a balance of $11,660at an APR of 16.99%. You plan to pay $500 each month in an effort to clear the debt quickly. How many months will it take you to pay off the balance?

Q: You have a credit card that has a balance of $12,000 at an APR of 18.99%. You plan to pay $600 each…

A: Solution:-The loan amount on the credit card i.e. PV =$12000APR =18.99% p.a. i.e. 18.99/12 =1.5825%…

Q: balance of $11,660 at an APR of 16.99%You plan to pay $500 each month in an effort to clear the debt…

A: Solution:-The loan amount on the credit card i.e. PV =$11660APR =16.99% p.a. i.e. 16.99/12 =1.41583%…

Q: You have $500,000 saved for retirement. Your account earns 5% interest. How much will you be able to…

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Q: You put ​$200 per month in an investment plan that pays an APR of 4.5​%. How much money will you…

A:

Q: You have $300,000 saved for retirement. Your account earns 8% interest. How much will you be able to…

A: It is given that,      r= annual interest rate=8%=0.08      k=monthly compounding=12      N=number…

Q: You owe $2300 on a credit card with 21% APR if you pay $80 a month, how long will it take you to pay…

A: Formula for the loan amortization is  A=Pi(1+i)n(1+i)n-1 where A=periodic payment P=loan amount…

Q: After retiring, you want to be able to take $1000 a month for a total of 15 years from your…

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

A: ANSWER :

Q: You have $400,000 saved for retirement. Your account earns 8% interest. How much will you be able to…

A:

Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

A:

Q: You put ​$350 per month in an investment plan that pays an APR of 4.5​%. How much money will you…

A: let   P = $350 the principal invested r = 0.045 or 4.5% annual interest rate   t = 21 years

Q: brooke's credit card has an annual interest rate of 21% on her unpaid balance, which averages $900.…

A: Given query is to find the monthly payment.

Q: You have $300,000 saved for retirement. Your account earns 7% interest. How much will you be able to…

A: It is given that the present value in the is $300,000, rate of interest is 7% and the number of…

Q: You have $300,000 saved for retirement. Your account earns 10% interest. How much will you be able…

A:

Q: You deposit $1000 each year into an account earning 6.1% interest. How much will you have in the…

A: Given Information :  Amount $1000 deposit each year into an account earning 6.1% interest.  Let,  P…

Q: You have $ 147,196 saved for retirement. Your account earns 9.6 % interest. How much will you be…

A: Given Data: The balance in the account at the beginning is: P=147196 $ The annual interest rate is:…

Q: You have $400,000 saved for retirement. Your account earns 7% interest. How much will you be able to…

A: We have to solve the given problem.