The annual interest rate on a credit card is 24.99%. How long will it take to pay
Question:
The annual interest rate on a credit card is 24.99%. How long will it take to pay off an unpaid balance of $1,485.73 if no new purchases are made and a $50.00 payment is made each month?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 25% (4 reviews)
Answered By
Muhammad Ahtsham Shabbir
I am a professional freelance writer with more than 7 years’ experience in academic writing. I have a Bachelor`s Degree in Commerce and Master's Degree in Computer Science. I can provide my services in various subjects.
I have professional excellent skills in Microsoft ® Office packages such as Microsoft ® Word, Microsoft ® Excel, and Microsoft ® PowerPoint. Moreover, I have excellent research skills and outstanding analytical and critical thinking skills; a combination that I apply in every paper I handle.
I am conversant with the various citation styles, among them; APA, MLA, Chicago, Havard, and AMA. I also strive to deliver the best to my clients and in a timely manner.My work is always 100% original. I honestly understand the concern of plagiarism and its consequences. As such, I ensure that I check the assignment for any plagiarism before submission.
4.80+
392+ Reviews
587+ Question Solved
Related Book For
Finite Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780134862620
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
Question Posted:
Students also viewed these Mathematics questions
-
The annual interest rate on a credit card is 16.99%. If a pay- ment of $100.00 is made each month, how long will it take to pay off an unpaid balance of $2,487.56?
-
In Problem assume that no new purchases are made with the credit card. The annual interest rate on a credit card is 22.99%. If the minimum payment of $25 is made each month, how long will it take to...
-
In Problem assume that no new purchases are made with the credit card. The annual interest rate on a credit card is 14.99%. If the minimum payment of $20 is made each month, how long will it take to...
-
How are financial statements adjusted for exchange rates?
-
Pace Distributing Company completed the following merchandising transactions in the month of April. At the beginning of April, the ledger of Pace showed Cash of $9,000 and Owners Capital of $9,000....
-
Apply underlying accounting concepts; evaluate business operations; construct a balance sheet) Brandon Hilton is a realtor. He organized his business as a corporation on June 16, 2019. The business...
-
Construct and interpret separate ROI charts for the four models. (Extra credit: Find a way to construct a single ROI chart comparing the four models.) Which model is preferred, and why?
-
Statement of Cash Flows Suppose a company lengthens the time it takes to pay suppliers. How would this affect the statement of cash flows? How sustainable is the change in cash flows from this...
-
A credit forward is a forward agreement that hedges against an increase in default risk on a loan after the loan has been created by a lender.
-
In Problem give the slope and y intercept of each line. y = 2,000(1 + 0.025x)
-
What is the annual nominal rate compounded quarterly for a bond that has an APY of 5.8%?
-
What volume of hydrogen gas, in liters, is produced by the reaction of 1.33 g zinc metal with 300 mL of 2.33 M H 2 SO 4 ? The gas is collected at 1.12 atm of pressure and 25 C. The other product is...
-
Alec is an employee who drives a 2021 Ford C-Max with a fair-market value of $32,000. He has been given the choice to have the fringe benefit reported on his W-2 either using the lease-value rule or...
-
What resource do most thinking and learning technologies rely on to be effective? a) data b) images c) gas d) robots
-
Financial Reporting Problem Marks and Spencer plc (M&S) The financial statements of M&S (GBR) are presented in Appendix A. The companys complete annual report, including the notes to the...
-
Totally Chemical is considering an investment decision project in which the organization expands into the trucking business. Totally Chemical wants to begin this investment decision project by buying...
-
Presented below is the balance sheet of Sandhill Corporation as of December 31, 2017. SANDHILL CORPORATION BALANCE SHEET DECEMBER 31, 2017 Goodwill (Note 2) Buildings (Note 1) Inventory Land Accounts...
-
Integral Transforms If K(s, t) is a continuous function of s and t on the square 0 ¤ s ¤ 1, 0 ¤ t ¤ 1, and i(r)is any continuous function of t for 0 ¤ t ¤ 1....
-
A line l passes through the points with coordinates (0, 5) and (6, 7). a. Find the gradient of the line. b. Find an equation of the line in the form ax + by + c = 0.
-
In Problem find the indicated extremum of each function on the given interval. Absolute minimum value on (0, ) for f(x) = 2x 2 - 8x + 6
-
Find the absolute minimum, if it exists, for 16 y = f(x) = x + .2 x> 0
-
Use the second-derivative test to find any local extrema for f(x) = x3 - 6x 2 - 15x + 12
-
Dr. Claudia Gomez, a plastic surgeon, had just returned from a conference in which she learned of a new surgical procedure for removing wrinkles around eyes, reducing the time to perform the normal...
-
QUESTION 2 ( 2 0 Marks ) 2 . 1 REQUIRED Study the information provided below and prepare the Income Statement for the year ended 3 1 December 2 0 2 3 using the marginal costing method. INFORMATION...
-
DROP DOWN OPTIONS: FIRST SECOND THIRD FOURTH 5. Cost of new common stock A firm needs to take flotation costs into account when it is raising capital fromY True or False: The following statement...
Study smarter with the SolutionInn App