Homework Answers
"B"
it will increase the cost of borrowing and decrease the consumption function in the market because the opportunity cost of sending has increased.
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When the interest rate increases, O A. only the dollar amount of credit card purchases increases....
When the interest rate decreases, O A. the cost of borrowing decreases and the consumption function...
When the interest rate decreases, O A. the cost of borrowing decreases and the consumption function shifts up. OB. only the dollar amount of credit card purchases decreases O c. the cost of borrowing decreases and the consumption function shifts down O D. the consumption function shifts down since individuals face smaller debt.
If household wealth increases, the consumption function O A. may shift up or down depending on the size of the increase...
If household wealth increases, the consumption function O A. may shift up or down depending on the size of the increase in wealth. O B. does not change because it is income and not wealth that affects consumption. O C. shifts downward since, for the same level of income, individuals need to spend less. O D. shifts upward since, for the same level of income, individuals can spend more.
If the credit card has an annual interest rate of 13.6% and only the minimum monthly payment of $35 is made, how many months will it take to pay off the credit card?
Part 2: Credit Cards Another type of personal loan is a credit card. A financial institution allows you to charge a purchase to your account, and you are required to pay the financial institution at a later time. As with other loans, credit cards charge interest. Interest rates can range from 3% - 22%. When you are paying for debt on a credit card, the financial institution will require a minimum balance be paid each month. The higher the interest rate that is charged...
Paying only the minimum balance on a credit card is a good way to have more...
Paying only the minimum balance on a credit card is a good way to have more funds available to purchase other items O is a temptation that often leads to large credit card debt at high interest rates makes sense if funds that might have been used to quickly pay down credit card debt are instead put into a savings account O is a quick way to pay off credit card debt Question 8 (12 points) If one does not...
If John spend 1000 dollar from his credit card, the interest rate per month is 1%...
If John spend 1000 dollar from his credit card, the interest rate per month is 1% and he will pay fix amount of 100 dollar to settle the credit card payment every month, how many month will John take to settle all his credit card payment?what is the total interest that John have to pay and what is the total amount that john have to pay? *all the formula for solution is need for coding purposes
airements 1 In cell D11, by using cell references, calculate the monthly interest rate of the current credit card (1...
airements 1 In cell D11, by using cell references, calculate the monthly interest rate of the current credit card (1 pt.). 2 In cell D12, by using cell references, calculate the interest payment on the current credit card (1 pt). Note: The output of the expression or function you typed in this cell is expected as a positive number. 3 In cell D13, by using cell references, calculate the monthly interest rate of the new credit card (1 pt.) 4...
10. The real interest rate is the (x) real rate of return to the lender. (y)...
10. The real interest rate is the (x) real rate of return to the lender. (y) real cost of borrowing to the borrower. (z) nominal interest rate plus the rate of inflation. A. (x), (y) and (z) B. (x) and (y) only C. (x) and (z) only D. (y) and (z) only E. (z) only 13. If there is a shortage of loanable funds, then A. neither curve shifts, but the quantity of loanable funds supplied decreases and the quantity...
The annual interest rate on a credit card is 13.99%. If a payment of $400.00 is...
The annual interest rate on a credit card is 13.99%. If a payment of $400.00 is made each month, how many months will it take to pay off an unpaid balance of $2,516.73? 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 the minimum payment of $40...
The annual interest rate on a credit card is 17.99%. If the minimum payment of $40 is made each month, how many months will it take to pay off an unpaid balance of $912.96? 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.)
18. If the federal government increases the dollar amount of Social Security benefi...
18. If the federal government increases the dollar amount of Social Security benefit checks for the elderly, then a. the consumption schedule will shift upward in the 45-degree line diagram. b. the aggregate demand curve will shift to the right in the aggregate demand aggregate supply curves diagram. c. the effect on the equilibrium real GDP will be the same as a cut in taxes. d. All of the above are correct. 19. The paradox of thrift...
When the interest rate decreases, O A. the cost of borrowing decreases and the consumption function shifts up. OB. only the dollar amount of credit card purchases decreases O c. the cost of borrowing decreases and the consumption function shifts down O D. the consumption function shifts down since individuals face smaller debt.
If household wealth increases, the consumption function O A. may shift up or down depending on the size of the increase in wealth. O B. does not change because it is income and not wealth that affects consumption. O C. shifts downward since, for the same level of income, individuals need to spend less. O D. shifts upward since, for the same level of income, individuals can spend more.
Paying only the minimum balance on a credit card is a good way to have more funds available to purchase other items O is a temptation that often leads to large credit card debt at high interest rates makes sense if funds that might have been used to quickly pay down credit card debt are instead put into a savings account O is a quick way to pay off credit card debt Question 8 (12 points) If one does not...
airements 1 In cell D11, by using cell references, calculate the monthly interest rate of the current credit card (1 pt.). 2 In cell D12, by using cell references, calculate the interest payment on the current credit card (1 pt). Note: The output of the expression or function you typed in this cell is expected as a positive number. 3 In cell D13, by using cell references, calculate the monthly interest rate of the new credit card (1 pt.) 4...
The annual interest rate on a credit card is 13.99%. If a payment of $400.00 is made each month, how many months will it take to pay off an unpaid balance of $2,516.73? 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 the minimum payment of $40 is made each month, how many months will it take to pay off an unpaid balance of $912.96? 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.)
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