Your credit card charges an interest rate of 2% per month. You have a current balance of $1,000, and want to pay it off. Suppose you can afford to pay $100 per month. What will your balance be at the end of one year?
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Your credit card charges an interest rate of 2% per month. You have a current balance of $1,000, and want to pay it off. Suppose you can afford to pay $100 per month. What will your balance be at the end of one year?
Your credit card charges 2% interest per month on unpaid balances. You maintain a balance of $656. How long will it take to pay off the credit card balance, assuming you make the minimum payment of $45 each month?
Your credit card has a current balance of $4,965.20. This balance is accruing interest at a nominal rate of 24.0% compounded monthly. Suppose you plan on spending an additional $1,000 at the end of next year (end of month 12) and $1,000 at the end of the following year (end of month 24) on this same card. What uniform end-of-month payments over the next 36 months would be required to pay off the existing debt along with the additional new...
You have $3,000 on a credit card that charges a 12% interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?
You have $5,000 on a credit card that charges a 14% interest rate. If you want to pay off the credit card in 4 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?
You have $5,000 on a credit card that charges a 13% interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?
You have $4,500 on a credit card that charges a 21% interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't charge anything new to the card)? S each month Submit Question
You have an $1,000 balance on your credit card, the payment on the card is $20 per month, if monthly interest rate is 1.5%, then how long does it take to pay off the balance on the card?
Your credit card has a current balance of $4,965.20. This balance is accruing interest at a nominal rate of 24.0% compounded monthly. A) Assuming you didn’t spend any more on this card, what uniform end-of-month payments over the next 36 months would be required to reduce the loan balance to zero at the end of three years from today? B) Suppose you plan on spending an additional $1,000 at the end of next year (end of month 12) and $1,000...
1) Your credit card has a current balance of $4,965.20. This balance is accruing interest at a nominal rate of 24.0% compounded monthly. A) Assuming you didn't spend any more on this card, what uniform end-of-month payments over the next 36 months would be required to reduce the loan balance to zero at the end of three years from today? B) Suppose you plan on spending an additional $1,000 at the end of next year (end of month 12) and...
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?