Your credit card has a balance of ​$4200 and an annual interest rate of 13​%. You decide to pay off the balance over four years. If there are no further purchases charged to the​ card, you must pay ​$112.70 each​ month, and you will pay a total interest of ​$1209.60. Assume you decide to pay off the balance over one year rather than four. How much more must you pay each month and how much less will you pay in total​ interest? A. You will pay ​$__ more each month. B. You will pay ​$__ less each month.

Q: You borrow $950 from your brother and agree to pay back $1000 in 19 months. What simple interest…

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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: You have $5000 on a credit card that charges 18% interest rate. If you want to pay off the credit…

A: It is given that, PVA=$5000, i=0.18, n=4, a=12

Q: 1. Kika and Mato each took out a loan for $5,000 from the bank. Kika has an interest rate of 5.2%,…

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Q: Give the adjacency matrix for the following graph. 6 8 D 6 6 E 4 H 6. Use this matrix as a template…

A: Given a graph , write the adjacency matrix

Q: Start working with a savings account with a quarter in it and your boss doubles it each day for…

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Q: To increase his retirement income. A man put away $600 per month for 25 years in an account that…

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Q: The future dollars of an investment at the end of 8 years is $ 132,000. Its today’s dollars is $…

A: INTEREST PAID BY BANK AT THE END OF 8YEAR=$132000-$76825=$55175 REAL RSTE OF INTEREST OF…

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: The balance of my MasterCard is $2345.67 with an APR of 27.8%. I make the minimum payment of $125 a…

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Q: you can buy a car for $25200 or lease the same car for 3 years for a down payment of $1500 and…

A: Consider the given information.  The basic price of the car is $25200.    If you are taking a car on…

Q: Suppose you want to buy a new car that costs ​$32, 900. You have no cash only your old​ car, which…

A: A new car costs $32, 900. You have no cash only your old​ car, which is worth $3000 as a​ trade-in.…

Q: Penny makes deposits into two separate accounts for 2 years. Option A: $800; 6% annual simple…

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Q: You have $2,500 on a credit card that charges a 14% interest rate. If you want to pay off the credit…

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Q: 5000

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Q: You make a payment of $300 at the beginning of each month into an account that earns 3.6% annual…

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Q: Your credit card has a balance of $3200 and an annual interest rate of 16%. You decide to pay off…

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Q: Jamie wants a new smart/TV sound system that cost $1,250. He does not have that much in cash to…

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Q: ristan bought a $225,000.00 house, paying 10% down, and financing the rest at 3% interest for 15…

A: Given that  Tristan bought a $225,000.00 house, paying 10% down, and financing the rest at 3%…