phoebe realizes that she has charged too much on her credit card and has racked up...
Homework Answers
| PVOrdinary Annuity = C*[(1-(1+i/100)^(-n))/(i/100)] |
| C = Cash flow per period |
| i = interest rate |
| n = number of payments |
| 6000= 200*((1-(1+ 18/1200)^(-n*12))/(18/1200)) |
| n(in years) = 3.35 |
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phoebe realizes that she has charged too much on her credit card
and has racked up...
Joey realizes that he has charged too much on his credit card and has racked up...
Joey realizes that he has charged too much on his credit card and has racked up $5,000 in debt. If he can pay $150 each month and the card charges 18 percent APR (compounded monthly), how long will it take him to pay off the debt?
cked up $6,500 in debt. If Phoebe realizes that she has charged too much on her...
cked up $6,500 in debt. If Phoebe realizes that she has charged too much on her credit card and has ra she can pay $250 each month and the card charges 12 percent APR (Compounded monthly), how long will t take her to pay off the debt? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Time to pay off the debt months
Joey realizes that he has charged too much on his credit card and has racked up...
Joey realizes that he has charged too much on his credit card and has racked up $4,200 in debt. If he can pay $175 each month and the card charges 15 percent APR (compounded monthly), how long will it take him to pay off the debt?
13. Phoebe realizes that she has charged too much on her credit card and has racked...
13. Phoebe realizes that she has charged too much on her credit card and has racked up $7,000 in debt. If she can pay $200 each month and the card charges 17 percent APR (compounded monthly), how long will it take her to pay off the debt? A. 28.63 months B. 35.00 months C. 47.71 months D. 48.68 months 14. What is the interest rate ofa 4-year, annual $1,000 annuity with present value of $3,500? A. 3.85 percent B. 5.56...
Problem 5-41 Number of Annuity Payments (LG5-9) Joey realizes that he has charged too much on...
Problem 5-41 Number of Annuity Payments (LG5-9) Joey realizes that he has charged too much on his credit card and has racked up $4,600 in debt. If he can pay $125 each month and the card charges 18 percent APR (compounded monthly), how long will it take him to pay off the debt? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Time to pay off the debt months
i need help please Check my work mode: This shows what is correct or incorrect for...
i
need help please
Check my work mode: This shows what is correct or incorrect for the work you have completed so far, it does not Joey realizes that he has charged too much on his credit card and has racked up $5,900 in debt. If he can pay $150 each month and the card charges 12 percent APR (compounded monthly), how long will it take him to pay off the debt? (Do not round intermediate calculations and round your...
This is for a finance course for beginners im very confused. Thank you! Anne has difficulty managing her debt. She usua...
This is for a finance course for beginners im very confused.
Thank you!
Anne has difficulty managing her debt. She usually carriess a balance on her credit card, has maxed out her $16,000 line of credit and now finds herself in the position of having to borrow to purchase a car. a)Assume Annes's credit card balance is $3,000. If she doesn't use her card again and only makes the minimum 3% payment every month, how long will it take her...
Q1: You charged $1,000 on your credit card for Christmas presents. Your credit card company charges...
Q1: You charged $1,000 on your credit card for Christmas presents. Your credit card company charges you 26% annual interest. If you make the minimum payments of $25 per month, how long will it take ( to the nearest month) to pay off your balance? Q2: At 5 percent compounded monthly, how long will it take to double your money?
Q1: You charged $1,000 on your credit card for Christmas presents. Your credit card company charges...
Q1: You charged $1,000 on your credit card for Christmas presents. Your credit card company charges you 26% annual interest. If you make the minimum payments of $25 per month, how long will it take ( to the nearest month) to pay off your balance? Q2: At 5 percent compounded monthly, how long will it take to double your money?
Thom owes $4,800 on his credit card. The credit card carries an APR of 17.2 percent...
Thom owes $4,800 on his credit card. The credit card carries an APR of 17.2 percent compounded monthly. If Thom makes monthly payments of $150 per month, how long will it take for him to pay off the credit card assuming that he makes no additional charges? Multiple Choice 11.80 months 43.12 months 40.25 months 32.00 months
cked up $6,500 in debt. If Phoebe realizes that she has charged too much on her credit card and has ra she can pay $250 each month and the card charges 12 percent APR (Compounded monthly), how long will t take her to pay off the debt? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Time to pay off the debt months
13. Phoebe realizes that she has charged too much on her credit card and has racked up $7,000 in debt. If she can pay $200 each month and the card charges 17 percent APR (compounded monthly), how long will it take her to pay off the debt? A. 28.63 months B. 35.00 months C. 47.71 months D. 48.68 months 14. What is the interest rate ofa 4-year, annual $1,000 annuity with present value of $3,500? A. 3.85 percent B. 5.56...
Problem 5-41 Number of Annuity Payments (LG5-9) Joey realizes that he has charged too much on his credit card and has racked up $4,600 in debt. If he can pay $125 each month and the card charges 18 percent APR (compounded monthly), how long will it take him to pay off the debt? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Time to pay off the debt months
i
need help please
Check my work mode: This shows what is correct or incorrect for the work you have completed so far, it does not Joey realizes that he has charged too much on his credit card and has racked up $5,900 in debt. If he can pay $150 each month and the card charges 12 percent APR (compounded monthly), how long will it take him to pay off the debt? (Do not round intermediate calculations and round your...
This is for a finance course for beginners im very confused.
Thank you!
Anne has difficulty managing her debt. She usually carriess a balance on her credit card, has maxed out her $16,000 line of credit and now finds herself in the position of having to borrow to purchase a car. a)Assume Annes's credit card balance is $3,000. If she doesn't use her card again and only makes the minimum 3% payment every month, how long will it take her...
Thom owes $4,800 on his credit card. The credit card carries an APR of 17.2 percent compounded monthly. If Thom makes monthly payments of $150 per month, how long will it take for him to pay off the credit card assuming that he makes no additional charges? Multiple Choice 11.80 months 43.12 months 40.25 months 32.00 months
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