Assume that you have a balance of $7000 on your MasterCard and that tiu nake no...
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Assume that you have a balance of $7000 on your MasterCard and that
tiu nake no...
Assume that you have a balance of $2900 on your MasterCard and that you make no...
Assume that you have a balance of $2900 on your MasterCard and that you make no more charges. Assume that MasterCard charges 12% APR and that each month you make only the minimum payment of 6% of the balance. What will the balance be after 24 months? (Round your answer to the nearest cent.) ( Mind you, It is not 846 )
Assume that you start with a balance of $4000 on your MasterCard. Assume that MasterCard has...
Assume that you start with a balance of $4000 on your MasterCard. Assume that MasterCard has finance charges of 16% APR and that each month you make only the minimum payment of 4% of the balance. During the first month, you charge $250, and during the second month, you charge $500. Complete the following table. (Round your answers to the nearest cent.) Minimum payment Purchases New balance Previous balance $4000.00 Finance charge $ 53.17 ✓ $250 " Month 1 Month...
Assume that you start with a balance of $5000 on your MasterCard. Assume that MasterCard has finance charges of 12% APR and that each month you make only the minimum payment of 4% of the balance. Duri...
Assume that you start with a balance of $5000 on your MasterCard. Assume that MasterCard has finance charges of 12% APR and that each month you make only the minimum payment of 4% of the balance. During the first month, you charge $250, and during the second month, you charge $500. Complete the following table. (Round your answers to the nearest cent.) Previous balance Minimum payment Purchases Finance charge New balance Month 1 $5000.00 $ $ $ $ Month 2...
Assume that you have a balance of $3200 on your Discover credit card and that you...
Assume that you have a balance of $3200 on your Discover credit card and that you make no more charges. Assume that Discover charges 21% APR and that each month you make only the minimum payment of 2% of the balance.
Suppose you have a credit card with a balance of $14,340.87 that charges 10.13% APR on...
Suppose you have a credit card with a balance of $14,340.87 that charges 10.13% APR on unpaid balances. The minimum payment each month is $35. If you make just the minimum payment, how much interest will be added to your account balance?
Suppose you have a credit card with a balance of $10,457.03 that charges 12.65% APR on...
Suppose you have a credit card with a balance of $10,457.03 that charges 12.65% APR on unpaid balances. The minimum payment each month is $35. If you make just the minimum payment, how much interest will be added to your account balance?
Consider a credit card with a balance of $7000 and an APR of 16.99%. In order...
Consider a credit card with a balance of $7000 and an APR of 16.99%. In order to pay off the balance in 2 years, what monthly payment would you need to make? Round answer to the nearest cent, if necessary.
Suppose your AMEX card calculates finance charges using an APR of 16.5%. Your statement sows a...
Suppose your AMEX card calculates finance charges using an APR of 16.5%. Your statement sows a balance of $800, and your minimum monthly payment is 6% of that month’s balance. (a) What is your balance after 12 months if you make no more charges and make only the minimum payment? (8) b) How long will it take to get your balance under $100. (8)
You have a credit card with an APR of 12%. You begin with a balance of...
You have a credit card with an APR of 12%. You begin with a balance of $350, in response to which you make a payment of $75. The first month you make charges amounting to $50. You make a payment of $75 to reduce the new balance, and the second month you charge $60. Complete the following table. (Round your answers to the nearest cent.) Previous Finance New balance Payments Purchases charge balance Month 1 $350.00 $ Month 2 $...
You have a credit card with an APR of 20.8%. You begin with a balance of...
You have a credit card with an APR of 20.8%. You begin with a balance of $1500, in response to which you make a payment of $300. The first month you make charges amounting to $550. You make a payment of $300 to reduce the new balance, and the second month you charge $750. Complete the following table. (Round your answers to the nearest cent.) Previous Finance New Payments Purchases balance charge balance Month 1 $1500 $ $ Month 2...
Assume that you start with a balance of $4000 on your MasterCard. Assume that MasterCard has finance charges of 16% APR and that each month you make only the minimum payment of 4% of the balance. During the first month, you charge $250, and during the second month, you charge $500. Complete the following table. (Round your answers to the nearest cent.) Minimum payment Purchases New balance Previous balance $4000.00 Finance charge $ 53.17 ✓ $250 " Month 1 Month...
You have a credit card with an APR of 12%. You begin with a balance of $350, in response to which you make a payment of $75. The first month you make charges amounting to $50. You make a payment of $75 to reduce the new balance, and the second month you charge $60. Complete the following table. (Round your answers to the nearest cent.) Previous Finance New balance Payments Purchases charge balance Month 1 $350.00 $ Month 2 $...
You have a credit card with an APR of 20.8%. You begin with a balance of $1500, in response to which you make a payment of $300. The first month you make charges amounting to $550. You make a payment of $300 to reduce the new balance, and the second month you charge $750. Complete the following table. (Round your answers to the nearest cent.) Previous Finance New Payments Purchases balance charge balance Month 1 $1500 $ $ Month 2...
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